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Career and Education Opportunities for Compensation / Benefits Specialists in Indianapolis, Indiana

Compensation / benefits specialists can find many career and educational opportunities in the Indianapolis, Indiana area. There are currently 2,060 working compensation / benefits specialists in Indiana; this should grow by 15% to 2,360 working compensation / benefits specialists in the state by 2016. This is not quite as good as the national trend for compensation / benefits specialists, which sees this job pool growing by about 23.6% over the next eight years. Compensation / benefits specialists generally conduct programs of compensation and benefits and job analysis for employer.

A person working as a compensation / benefits specialist can expect to earn about $24 per hour or $50,510 per year on average in Indiana and about $25 per hour or $53,860 yearly on average in the U.S. as a whole. Compensation / benefits specialists earn less than people working in the category of Human Resources generally in Indiana and less than people in the Human Resources category nationally. People working as compensation / benefits specialists can fill a number of jobs, such as: human resources generalist, pension administrator, and employment benefits or pensions retirement plan specialist.

There are four schools within twenty-five miles of Indianapolis where you can study to be a compensation / benefits specialist, among thirty-six schools of higher education total in the Indianapolis area. Given that the most common education level for compensation / benefits specialists is a Bachelor's degree, you can expect to spend about four years studying to be a compensation / benefits specialist if you already have a high school diploma.

CAREER DESCRIPTION: Compensation / Benefits Specialist

In general, compensation / benefits specialists conduct programs of compensation and benefits and job analysis for employer. They also may specialize in specific areas.

Compensation / benefits specialists insure company adherence to federal and state laws, including reporting requirements. They also advise managers and employees on state and federal employment regulations, collective agreements, benefit and compensation policies, personnel procedures and classification programs. Equally important, compensation / benefits specialists have to ready occupational classifications, job descriptions and salary scales. Finally, compensation / benefits specialists furnish advice on the resolution of classification and salary complaints.

Every day, compensation / benefits specialists are expected to be able to listen to and understand others in meetings. They need to articulate ideas and problems. It is also important that they think through problems and come up with general rules.

It is important for compensation / benefits specialists to evaluate job positions, determining classification, exempt or non-exempt status, and salary. They are often called upon to help in preparing and maintaining personnel records and handbooks. They also speak at conferences and events to promote apprenticeships and related training programs. They are sometimes expected to observe and survey employees and conduct focus group meetings to collect job, organizational, and occupational data. Somewhat less frequently, compensation / benefits specialists are also expected to negotiate collective agreements on behalf of employers or staff, and mediate labor disputes and grievances.

They also have to be able to ready reports, such as organization and flow charts, and career path reports, to summarize job analysis and evaluation and compensation analysis data And finally, they sometimes have to research job and worker requirements, structural and functional relationships among jobs and occupations, and occupational trends.

Like many other jobs, compensation / benefits specialists must have exceptional integrity and be able to absorb the factors involved and a problem and provide a well thought out solution.

Similar jobs with educational opportunities in Indianapolis include:

  • Employment Coordinator. Interview job applicants and refer them to prospective employers for consideration. Search application files, notify selected applicants of job openings, and refer qualified applicants to prospective employers. Contact employers to verify referral results. Record and evaluate various pertinent data.
  • Employment Recruiter. Seek out, interview, and screen applicants to fill existing and future job openings and promote career opportunities within an organization.
  • Insurance Adjuster. Investigate, analyze, and determine the extent of insurance company's liability concerning personal, casualty, or property loss or damages, and attempt to effect settlement with claimants. Correspond with or interview medical specialists, agents, or claimants to compile information. Calculate benefit payments and approve payment of claims within a certain monetary limit.
  • Job Training Specialist. Conduct training and development programs for employees.

EDUCATIONAL OPPORTUNITIES: Compensation / Benefits Specialist Training

Marian College - Indianapolis, IN

Marian College, 3200 Cold Spring Rd, Indianapolis, IN 46222-1997. Marian College is a small college located in Indianapolis, Indiana. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,064 students and an admission rate of 54%. Marian College has an associate's degree and a bachelor's degree program in Human Resources Management/Personnel Administration which graduated sixteen and twenty-two students respectively in 2008.

DeVry University-Indiana - Indianapolis, IN

DeVry University-Indiana, 9100 Keystone Crossing, Ste 350, Indianapolis, IN 46240. DeVry University-Indiana is a small university located in Indianapolis, Indiana. It is a private for-profit school with primarily 4-year or above programs. It has 550 students and an admission rate of 87%. DeVry University-Indiana has a master's degree program in Human Resources Management/Personnel Administration which graduated six students in 2008.

Indiana Business College-Indianapolis - Indianapolis, IN

Indiana Business College-Indianapolis, 550 East Washington Street, Indianapolis, IN 46204. Indiana Business College-Indianapolis is a small college located in Indianapolis, Indiana. It is a private for-profit school with primarily 4-year or above programs. It has 1,920 students and an admission rate of 89%. Indiana Business College-Indianapolis has an associate's degree program in Human Resources Management/Personnel Administration which graduated fifteen students in 2008.

Martin University - Indianapolis, IN

Martin University, 2171 Avondale Place, Indianapolis, IN 46218-0567. Martin University is a small university located in Indianapolis, Indiana. It is a private not-for-profit school with primarily 4-year or above programs and has 717 students. Martin University has a bachelor's degree program in Human Resources Management/Personnel Administration.

CERTIFICATIONS

Certified Pension Consultant: The Certified Pension Consultant (CPC) credential is designed for benefits professionals working in plan administration, pension actuarial administration, insurance, and financial planning.

For more information, see the American Society of Pension Professionals and Actuaries website.

Qualified 401(k) Administrator: The Qualified 401(k) Administrator (QKA) credential is conferred by ASPPA to retirement plan professionals who work primarily with 401(k) plans.

For more information, see the American Society of Pension Professionals and Actuaries website.

Global Professional in Human Resources: Globalization is the defining political and economic force in the world today.

For more information, see the HR Certification Institute website.

Certified Retirement Specialist: If you are a professional with an interest in issues and opportunities in the 403(b) marketplace, advance your career by obtaining the Certified Retirement Specialist (CRS) designation.

For more information, see the NTSAA (National Tax Sheltered Accounts Association) Educational Institute website.

Skill Analyst Certification: This certification provides analysts with the experience and understanding included with the aspects of job classification and analysis.

For more information, see the SkillsNET website.

Certified Compensation Professional: Recognized as the world's standard since 1976, the Certified Compensation Professional (CCP) designation is known throughout the global rewards community as a mark of expertise and excellence in all areas of compensation.

For more information, see the WorldAtWork website.

Certified Benefits Professional: Designed for today's dynamic benefits environment, the Certified Benefits Professional (CBP) program provides solid strategies and understanding.

For more information, see the WorldAtWork website.

LOCATION INFORMATION: Indianapolis, Indiana

Indianapolis, Indiana
Indianapolis, Indiana photo by File Upload Bot

Indianapolis is situated in Marion County, Indiana. It has a population of over 798,382, which has grown by 2.1% in the past ten years. The cost of living index in Indianapolis, 80, is well below the national average. New single-family homes in Indianapolis cost $155,400 on average, which is near the state average. In 2008, seven hundred thirty-four new homes were constructed in Indianapolis, down from 1,317 the previous year.

The three big industries for women in Indianapolis are health care, educational services, and accommodation and food services. For men, it is construction, professional, scientific, and technical services, and administrative and support and waste management services. The average travel time to work is about 23 minutes. More than 25.4% of Indianapolis residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 8.7%, is higher than the state average.

The percentage of Indianapolis residents that are affiliated with a religious congregation, 40.3%, is less than both the national and state average. The largest religious groups are the Catholic Church, the United Methodist Church and the Christian Churches and Churches of Christ.