How much does a Compensation Analyst I make in Illinois? The average Compensation Analyst I salary in Illinois is $66,675 as of February 26, 2024, but the range typically falls between $60,047 and $73,421. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

Compensation Analyst I Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Compensation Analyst I Salary $54,013 IL February 26, 2024
25th Percentile Compensation Analyst I Salary $60,047 IL February 26, 2024
50th Percentile Compensation Analyst I Salary $66,675 IL February 26, 2024
75th Percentile Compensation Analyst I Salary $73,421 IL February 26, 2024
90th Percentile Compensation Analyst I Salary $79,564 IL February 26, 2024
25% $60,047 10% $54,013 90% $79,564 75% $73,421 $66,675 50%(Median) Didn’t find job title? Click
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What skills does a Compensation Analyst I need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.

Market Pricing: Setting the price of a product or service according to the current market price to ensure the business remains competitive while still growing ROI.

3.

Job Analysis: The process of studying a job to determine which activities and responsibilities it includes, its relative importance to other jobs, the qualifications necessary for performance of the job and the conditions under which the work is performed.

Analysis 15.28%
Market Pricing 2.15%
Job Analysis 1.36%
Others 81.21%

Job Description for Compensation Analyst I

Compensation Analyst I analyzes, designs, and administers employer compensation programs, including base pay, long and short-term incentives, spot bonuses, commissions, and stock that align with company objectives for recruiting, retention, and employee engagement. Designs and communicates pay structures, grades, compensation budgets, and guidelines. Being a Compensation Analyst I advises managers on making effective pay decisions that support employee engagement and comply with compensation policy and budgetary guidelines. Evaluates jobs and develops and maintains job descriptions and job architecture. Additionally, Compensation Analyst I participates in compensation surveys, conducts research and analysis on market competitiveness, pay equity, and compensation trends. Requires a bachelor's degree or equivalent. Typically reports to a manager. The Compensation Analyst I work is closely managed. Works on projects/matters of limited complexity in a support role. To be a Compensation Analyst I typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Compensation Analyst I in Illinois

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Location Avg. Salary Date Updated
Location Cicero, IL Avg. Salary $68,453 Date Updated February 26, 2024
Location Mount Prospect, IL Avg. Salary $68,219 Date Updated February 26, 2024
Location Abingdon, IL Avg. Salary $61,543 Date Updated February 26, 2024
Location Adair, IL Avg. Salary $62,288 Date Updated February 26, 2024
Location Addieville, IL Avg. Salary $63,372 Date Updated February 26, 2024
Location Addison, IL Avg. Salary $68,219 Date Updated February 26, 2024
Location Akin, IL Avg. Salary $60,943 Date Updated February 26, 2024
Location Albany, IL Avg. Salary $60,488 Date Updated February 26, 2024
Location Albers, IL Avg. Salary $63,372 Date Updated February 26, 2024
Location Albion, IL Avg. Salary $59,589 Date Updated February 26, 2024

Career Path for Compensation Analyst I

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Compensation Analyst I, the first career path typically starts with a Stock Plan Administrator II position, and then Stock Plan Administrator IV.

The second career path typically starts with a Compensation Analyst II position, and then progresses to Compensation Analyst IV.

Additionally, the third career path typically starts with an Executive Compensation Analyst II position, and then progresses to Executive Compensation Manager.

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Jobs with a similar salary range to Compensation Analyst I : Employee Engagement Consultant, Revenue Management Consultant, Revenue Enablement Specialist

Compensation Analyst I Salary in Illinois
Compensation Analyst I Salary Graph, Regional Distribution and Summary