Nursing Leadership and Management (BSN-to-MSN Program) M.S. Preparing and maintaining job classifications and salary scales. However, few of them can give you the technology and life sciences industry relatability that only Radford is able to offer. Previous experience in HR is a plus, and many employers will prefer candidates who already have a career background working within the department as an HR specialist. Compensation CSCP will be of value to anyone seeking to validate his or her expertise in the field of sales compensation. The Rewards Solutions practice at Aon and other Aon group companies will use your personal information to contact you from time to time about other products, services and events that we feel may be of interest to you. Preferences | Legal | Privacy The Compensation Analyst Academys Compensation Certificate Programs provide attendees with the fundamentals needed to successfully design and administer an organizations Compensation Program. We analyzed online job postings to determine the most commonly asked-for certifications. What is considered high pay at one company can be on the lower spectrum at another. Business Administration, Accelerated Information Technology Bachelor's and Master's Degree. Teaching, Science Education (Secondary) M.A. Strong research skills are essential if you hope to thrive in your role as a compensation analyst. They are an organizations key researcher for all things remuneration. Digital dexterity and data literacy are already a crucial part of the new standard for all HR professionals. Statement, | Do Not Sell My Data (US A large part of your role as a compensation analyst is to be on top of ever-changing local, state, and federal laws and regulations regarding compensation and pay equity. Teaching, Special Education (K12) M.A. However, not all certifications are created equal. ONLY), | Cookie Financial acumen is important when conducting compensation analysis since it requires an understanding of metrics, including earnings per share, revenue, net income, and stock index. education on the National Registry of CPE Sponsors. CCPs also demonstrate the ability to research and communicate aspects of TCM principles and practices to all levels of project or program stakeholders, both internally and externally. To learn more about Compensation Estimates, please see our Get started by talking to an Enrollment Counselor today, and you'll be on your way to realizing your dream of a bachelor's or master's degreesooner than you might think! Employers will know that you have received high-quality training in Media Contacts As employees learn new skills and their value to the organization grows over time, an increase in pay should be expected from both parties. General Disclaimer Analysts tend to earn the highest salaries in the professional scientific and technical service industries, followed by management companies and government agencies. Endorsement Preparation, English Language Learning (PreK-12). We've compiled a list of the most common certifications for senior compensation analysts. How much to pay is definitely a relative term. They will work closely with HR business partners, compensation consultants, and program designers to analyze the impact of a wide range of compensation options. How much you should pay someone is a relative term. They research and evaluate job requirements, competitors benefits and salaries and assess current roles to ensure the organization is competitive and complies with state and federal regulations. Find out more about scholarships for new students. The ability to read, understand, interpret and apply data in your organization is vital and will help you demonstrate to an employer how effective you can be in your role. the course left-hand navigation. Contact us for more details and discount pricing for 6 or more attendees. Learn everything from benchmarking salaries and job grading to sales compensation and pay gap analyses. Knowing that a pool of resources exists, the next step is to determine exactly how much to pay. At WGU, your experience is our obsession! A compensation manager average salary is $108,844 whereas senior compensation analysts make an average salary of $78,787. Compensation, Private Company Evaluating and implementing job analysis tools, techniques, and materials. A SHRM-recognized online business degree program: A SHRM-recognized online business degree program: Sample careers and jobs this business degree will prepare you for: Earn your B.S. Senior compensation analysts are most likely to hold a combination of the following certifications: Certified Cost Professional (CCP), Certified Compensation Professional (CCP), and Certified Professional - Human Resource (IPMA-CP). I have a PHR and am looking for good continuing education courses at a reasonable price. DLC Home|Webinars|Continuing Education|HR Resources|College Instructors|Training History|Order History. Analyzing a companys remuneration structures and policies and implementing improvements. Whether you are new to compensation, need a refresher or simply want to advance your knowledge, our program will prepare you for the everyday challenges of compensation administration and management. IPMA-HR strives to encourage excellence in public sector human resources, promote continuous learning and develop the next generation of leaders. They should have a high level of respect for compliance and confidentiality, and take an interest in effective communication. Benchmarks, Executive And essential to sales is the management of the sales force. International Public Management Association Benefits & Payroll Administrator Certifications, Provider Enrollment Specialist Certifications, Retirement Plan Specialist Certifications, Senior Benefits Specialist Certifications, Benefits & Payroll Administrator Employment Near Me, Benefits Representative Employment Near Me, Compensation Specialist Employment Near Me, Employee Benefits Supervisor Employment Near Me, Payroll And Benefits Coordinator Employment Near Me, Payroll And Benefits Specialist Employment Near Me, Provider Enrollment Specialist Employment Near Me, Benefits & Payroll Administrator Responsibilities, Payroll And Benefits Specialist Responsibilities, Provider Enrollment Specialist Responsibilities. Burlington, MA 01803 Let us know how best to reach you and a member of our team will be in touch shortly. Senior compensation analysts are most often promoted to a compensation manager position. They are knowledgeable of best HR practices and well-versed on the financials of a business. All personal information is collected and used in accordance with our privacy statement. The industry, and this role specifically, outrank the national average of job growth for all jobs. The most popular certification requirement is Certified Compensation Professional. Extensive knowledge of quantitative and qualitative research methods. Free resource ahead! There are already plenty of well-written guides and articles related to compensation that you can find on the internet. Science Education (Secondary Biological Science) B.S. Proficient with Office Suite software, particularly Excel. Cybersecurity and Information Assurance M.S. Location Analysis Graduate Degrees and Degrees for Licensed Teachers. Check out the WGU Blog! Rewards Optimization This may include management, design and administration of sales compensation plans; communication and implementation of the sales compensation plans; and evaluation and analysis of sales compensation effectiveness. Shani has previously written for multiple publications, including HuffPost. Conducting surveys, one-to-one interviews, and focus groups with employees and managers to document duties, responsibilities, and skills required for each position. Variable incentives in the form of an enticing cash bonusorrobust equity packagewill more often than not be the deciding factor and can likely swaythe decision to accept vs. reject a job offer. Although we endeavor to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. *Salary estimates (ZipEstimate) are not verified by employers; actual compensation can vary considerably. The Certified Cost Professional certification could help you to get a compensation manager position in your career path. External factors such as the economic and legal environments will also influence compensation decisions. Develop your legal knowledge and ensure youre aware of when new laws are passed. Complaints regarding registered sponsors may be submitted to the National Registry Corporate Governance Cash awards require careful plan design considerations, similar to any other rewards-based system. State boards of accountancy The first part of understanding how much to pay is to know the philosophy and inner workings of how its established. Employee Rewards Not only will obtaining these certifications give you a leg up for job hunting, they will also increase your overall value. (There is no charge for retaking an exam, either to get a pass or to In-Depth Research, Careers If you're a comp analyst, HR manager, people operations, or anyone working in your company's department that handles compensation, then this guide is for you. Nursing Family Nurse Practitioner (BSN-to-MSN Program) M.S. Compensation analysts sit within the HR team of an organization and have a strong working knowledge of the human resources structure. Your privacy is our priority. ContentsWhat is a compensation analyst?A sample compensation analyst job descriptionHow to become a compensation analystCompensation analyst salary. Youve heard the expression"Cash is King,"and when it comes to short-term incentive rewards, it certainly rings true as most incentives take the form of a cash payment. It's not as simple as writing a check, however. After you have passed the exam, go to your Training History to view Following their bachelors degree, analysts might explore options from the International Foundation of Employee Benefit Plans and WorldatWork, which offer certification programs that specialize in compensation and benefits. info@caa.compensationhr.com, Low cost, high quality compensation training, Approved by national certifying authority, Faculty mentoring is available to graduates. A bachelors of science in business administration with a major in human resource managementis one of the most popular degree paths, as it sets analysts up particularly well for the HR department. Voluntary certification is available for those looking to expand their qualifications. The cost is $399. By clicking the button above, I agree to the ZipRecruiter Terms of Use and acknowledge I have read the Privacy Policy, and agree to receive email job alerts. Researching is one of the primary skills needed in this position, as you will be required to gather multiple data sources both within and outside your organization. Special Education (Mild-to-Moderate) B.A. This course is the fourth course in a five-course Financial Reporting Specialization. They are someone with both hard and soft skills who can determine what is best for an organizations financial goals while also knowing what is fair and competitive. Compensation analysts are extremely data driven and detail-oriented in their roles. Science Education (Secondary Biological Science) M.A. ERI Distance Learning Center's Compensation Analyst Credential (CAC) designation is a Science Education (Secondary Chemistry) B.S. Learn more about degree programs that can prepare you for this exciting career. Nursing - Education (BSN-to-MSN Program) M.S. Successful compensation analysts apply skills and competencies like business and financial acumen, strong data literacy, including qualitative and quantitative research methods and analysis, and knowledge of HR policies. Pay Equity Training can be delivered at your site for a minimum of 5 participants. Nursing Nursing Informatics (RN-to-MSN Program) M.S. Researching and advising on relevant state and federal laws to ensure the organization remains compliant with its compensation policies. Map out your HR Career path. Or have you recently taken on convenient way to learn the fundamentals of this discipline without ever leaving the office. You will have one year from date of purchase to complete the CAC. Then email it to the Analysts should have a strong ability to compare and process data into a digestible format for their organization. There are several advantages of CAAs Certification Programs including: The Compensation Analyst Academy also provides: Corporate Training: CAA offers high-quality real-world Compensation trainingfrom professionals currently working in Human Resources and customized to meet yourorganizations needs. If you are not ready to pass the certification program but still want to improve your skills, these online courses may help. ), Disclose company data to compensation and benefits surveys in your industry, Manage raises and salary structure for all employees, Analyze compensation package trends to ensure industry competitiveness and employee retention. Nursing Education (RN-to-MSN Program) M.S. According to the U.S Bureau of Labor Statistics, employment of compensation analysts is projected to grow by 10% by 2030. To get started, order the CAC. If you know your password, you can go to the sign in page. 339-234-7888 With the labor market constantly in flux, companies that find themselves ready are the ones regularly updating their salary range midpoints. We're sending an email you can use to verify and access your account. this CAC application form and fill it out. Learn more: ZipRecruiter, Inc. 2022 All Rights Reserved Worldwide. If you want to stand out from the crowd and deepen your knowledge and skills, consider getting general HR credentials or a dedicated Compensation and Benefits certification. These competencies help you achieve business objectives and drive business value and are essential for the future HR workforce. Most compensation analysts will be required to hold a bachelors degree at a minimum. of State Boards of Accountancy (NASBA) as a sponsor of continuing professional We begin by asking: "To succeed, what kind of a person does your organization need to attract, retain, and motivate?" Researching employee salaries, benefits, and total rewards in similar roles, organizations, and industries and recommending changes based on findings. Whether its conducting surveys and interviews with employees or collecting market data and workforce trends, you must know where to look for the information you need and be well-versed in the best method to collect and analyze it. Future-proof your career in HR by continuously expanding your skill set with the latest and most relevant HR skills. This certificate requires more than two years of work experience. Benchmarking jobs against data collected and market intelligence to determine competitive compensation for each role. the most fundamental areas of salary planning. Mathematics Education (Middle Grades) M.A. Liaising with insurance brokers and investment planners to create competitive benefits packages for the company and facilitating enrolment for insurance and retirement plans. By earning a CAC you will prove to employers that Stay up-to-date with the latest news, trends, and resources in HR. Whether you're writing paychecks or wondering where yours comes from, this course is for you! https://www.nasbaregistry.org/, ERI Economic Research Institute is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP or SHRM-SCP, "You have a very complete offering of on-line courses. Having also used another HR training website, I found your course more engaging. Suite 6, #133 By holding this certification, you will gain a more-competitive resume that will look impressive to potential employers. In addition, we tie up all of our chapters to a real life data sample from our Radford surveys so you can identify how to apply survey data directly to some common and not so common compensation issues. Accurate research and informed recommendations play a role in long-term equity, fair pay structuring, and the overall health of an organization. get a different type of credit.). Global Benefits The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. Typical duties and responsibilities can include: Compensation analysts typically hold a bachelors degree in a human resources-related field and some sort of HR or finance experience via an internship or entry-level role. To become a compensation analyst, you need a bachelors degree in human resources, business, finance, or related field. Compensation Basics, Legislation Affecting Compensation, Fair Labor Standards Act (FLSA), Job Analysis and Job Descriptions, Job Evaluation and Market Pricing, Salary Surveys and Market Analysis, Compensation Program Development, Pay and Performance, Salary Planning, Variable Pay Programs and Communicating Compensation, 101 MiddlesexTurnpike Shani Jay is an author & internationally published writer who has spent the past 5 years writing about HR. The compensation analyst is responsible for designing, implementing, and evaluating compensation programs across the organization and providing competitive compensation packages to all employees. Select Compensation Analyst Credential and your location It's back-to-school time at WGU year-round. Another option is to get a People Analytics certification. The credential is designed for the HR professional who plans, rather than implements, HR policy, focuses on the "big picture," has ultimate accountability in the HR department, has breadth and depth of knowledge in all HR disciplines and understands the business beyond the HR function and influences the overall organization. Compensation, Email Compensation data analysis is more than making in-the-moment recommendations for a company. Renew certification every 3 year. That way, you can accurately advise your organization on compensation policies and if you need to make any changes. The compensation and benefits landscape is constantly changing, which means that strategies that worked a few years ago will no longer ensure your organization is compliant and competitive now and in the future. Conducting data on employee productivity and cost analyses for use in employee negotiations and bargaining agreements. Compensation analysts can find a competitive edge in their job search by getting certified in key HR credentials. Science Education (Secondary Physics) M.A. A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program. Business Administration, Information Technology Management B.S. Compensation analysts can find opportunities in any industry, and in any location. Equity Services, Compensation 101 From there, we'll explain how to align your organization's objectives, its pay philosophy, and ultimately the way it designs and implements its salary structure, short-term incentives, long-term incentives, and benefits. Some direct experience within HR or finance through an internship or entry-level administrative role is also usually required. You're in charge of your college educationbut you're never alone. and print your certificate of completion. This guide was written to cover everything from the basics of compensation such as how to pay and "how much to pay" to more advanced topics including "incentive plans" and "job leveling" (coming at a later date). After you have passed the 12 required CAC courses (listed above), please print Science Education (Secondary Earth Science) M.A. will not get the same questions every time. Collecting and analyzing data from market-based compensation surveys to determine market trends. As competitive fields continue to recruit competitive talent, knowledgeable analysts will be needed to fine-tune compensation and benefits packages. This provides a solid foundation through courses in business administration, finance, accounting, psychology, and HR. Excellent organizational and time management skills. Support When you are ready to take the Final Exam, you will be asked to select a credit type. HR Metrics & Dashboarding Certificate Program, A sample compensation analyst job description. This includes the FLSA, Equal Pay Act, ADA, minimum wage requirements, overtime regulations, and more. Workforce Planning Companies also balance a variety of reward opportunities based on their overall strategy. Compensation analysts are experts in labor and compensation structures. A compensation analyst works within the Compensation & Benefits or Human Resources department and their role is to help organizations develop fair compensation structures to attract and retain employees by analyzing various data. Science Education (Secondary Earth Science) B.S. Getting certified will help learn everything you need to know about creating a future-proof C&B strategy. in Human Resources and help build strong organizations. Extensive knowledge of human resource laws, regulations, and best practices. Compensation analysts research, implement, and oversee an organizations pay structure. Nursing Psychiatric Mental Health Nurse Practitioner (BSN-to_MSN Program) M.S. Applying for a new job in Human Resources? ", "ERI Distance Learning Center courses not only provide valuable information that is relevant to my field (Compensation), but the courses also give historical background information pertaining to HR Law, which is an essential part of Compensation administrationI also like the mimic-to-real world scenarios to further enhance my learning experience.". No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.