Road to riches: compensation management can put you on the path to success

HR Magazine, June, 2004 by Kathryn Tyler

Also, HR professionals need to consider how much detail they desire and how much time they have to complete the courses. (See "Compensation Certification Comparisons," above.)

The CEBS program is more detailed and takes longer to complete than the CCP program. "The CEBS [program] is rigorous," says Greene. "Unless you're going to be a benefits expert, it's [excessive]."

Courses for the CCP certification are much shorter--three-day workshops--than those for the CEBS, which are traditional, three-hour weekly classes that run for 10 weeks. However, courses for the CCP certification cost more than the CEBS courses--$1,300 vs. $800 ($400 for the exam plus $400 per course).

"It takes about two to three years [to become a CCP]," says Koss. "You can take the two-day class [offered by WorldatWork] before the third morning exam or you can self-study. I recommend a combination. A good HR person could probably self-study out of the job description module. Others, like the statistical module, are much more difficult. You can take the exams more than once. The classes are taught by seasoned compensation professionals and are quite good," says Koss.

There are distinct advantages to attending the classes, WorldatWork's Kabin says. "There is always the opportunity to self-study for all nine exams, although you would miss out on the networking and practical application that you get from attending the practitioner-led courses and interacting with your peers, so we don't typically recommend self-study for the entire program."

Hubbartt, who is currently enrolled in the CCP program, agrees that networking is an extra benefit of attending classes: "Do it for the knowledge and people you will meet, not for the certification," he says. "Some of my instructors have included current and former heads of HR and compensation from Fortune 500 companies."

Once you receive your designation, you must keep it current. "It's not a requirement to recertify--we wouldn't yank somebody's certification--but it is preferred that members recertify every three years," says Kabin. "They need to have 12 continuing education units (CEUs). You can get credit in a variety of ways--being a member of our organization, attending classes or conferences, work projects, publishing, teaching, etc. We have employers call us and ask if someone is current with their certification. In this quick-moving profession, you're forced to attend education just to keep up."

Hubbartt suggests that compensation specialists tailor their education to their immediate needs. "Don't be afraid to take a course out of order if you are looking at an upcoming project where you think a specialized class might be helpful."

Becoming a certified compensation professional may improve your job prospects. According to a survey by the International Society of Certified Employee Benefit Specialists, 61 percent of respondents have changed employers since earning their CEBS designation, and 75 percent of those felt the designation was influential in obtaining the new position. Kabin notes that WorldatWork gets about 1,000 job postings for compensation specialists per year, and, of those, 80 percent require or prefer CCP-designated candidates.