Almost two-thirds (63%) of compensation and benefits managers report that they have good or excellent job satisfaction, while only 14% think that their pay is above the market rate.
In fact, the Chartered Institute of Personnel and Development (CIPD) and Croner Reward’s Personnel rewards 2007 survey shows that compensation and benefits is the highest-paid specialism in HR. Experts in this field receive 16% more than senior managers in HR, taking a median basic salary of £50,000, compared with £43,272. Those with responsibility for countries overseas are paid even more, with a median basic salary of £58,243.
The reward survey also shows that 42% of heads of compensation and benefits have salaries in excess of £80,000.
When it comes to promotion, 39% of compensation and benefits specialists think they have good prospects, compared with less than a quarter (23%) of training specialists and 32% of recruitment specialists who think the same.