Accounting career information

Another of the fields of Accounting and Bookkeeping positions is concerned with the labor industry. These people are involved in all aspects of the compensation and benefits that a company offers its employees. Median income for these folks is around $59K per year.
What Duties Do Compensation and Benefits Specialists Perform?
These people are in charge of making sure that the compensation and benefit packages are current, competitive, and cost-effective for their company. They must keep up with all new trends that occur as well as guiding the employer to the best plans that offer the employees the most incentives to work for the company. This is accomplished with data and cost analyses.
The Job Analyst Specialist
This specialized area involves preparation of Job Descriptions, Classifications, and salary scales for the employer. They decide salaries for each kind of position in the company, and make sure that the federal and state laws are followed in these determinations. The Analysts work closely with the benefit vendors and investment brokers when working with the benefits packages such as 401K and retirement plans, and insurance packages, disability plans—both short and long-term plans. Internally, they work closely with the Human Resource Department and other management. A great deal of their time is spent in preparing all sorts of reports and analyses.
What Kind of Education is Required for this Job?
A high school diploma is required for entry level positions in this field; however in larger companies, a bachelor’s degree is preferred. In the auto industry, they may be required to have post-secondary training in automobile repair costing/estimating.
What is the Outlook for this Kind of Position?
The growth prediction for these specialized professions is about 6% by 2022. As every organization has Human Resource Departments, a good way to get into this field is to earn your degree in Accounting with a minor in human resources. If you enjoy working with people, you might consider gearing yourself to the administrative end of benefits management.
Again, there are always entry level positions where you can get your start and learn all about the company, with your sights set on advancing to the higher paid positions. With an accounting/bookkeeping degree, the world of business is at your fingertips. You can start anywhere and end up at the top. Remember, the majority of CEOs or CFOs did not start their careers in those positions. As with anything else, you work your way up. With an accounting degree, you can’t lose!
Elaine M. Long
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition,
Compensation, Benefits, and Job Analysis Specialists, on the Internet at ttp://www.bls.gov/ooh/business-
and-financial/compensation-benefits-and-job-analysis-specialists.htm (visited February 17, 2014).

Share on FacebookShare on Google+Tweet about this on TwitterPin on Pinterest