FAQ: What Is CCP Certification? (With Benefits and How To Earn)
Updated July 31, 2023
The image shows an HR professional sitting across from an employee. The text describes what a CCP certification is and its benefits.
The headline is "What is a CCP certification?"
The text below says, "A Certified Compensation Professional is a specialized designation describing an HR practitioner who possesses the knowledge and training to implement compensation programs within a company's framework."
The sub-head is "Benefits"
Bullets under the subhead are:
• Higher salary
• More job opportunities
• Competitive edge
If you're an experienced human resources (HR) professional who wants to elevate their job opportunities and earn more money, earning the certified compensation professional qualification may be ideal for you. This program offers several benefits and can require some financial commitment for you to achieve it successfully. Learning about this accreditation can help you determine if it's worth the investment. In this article, we explore some frequently asked questions and answers about CCP certification.
What is a CCP certification?
A CCP certification is an HR accreditation you can earn to become a certified compensation professional (CCP). This specialized designation describes an HR practitioner who possesses the knowledge and training to implement compensation programs within a company's framework. They often integrate it with other enterprise aspects, like business strategies and variable pay programs. Having this qualification demonstrates that you agree to adhere to the regulatory and legal requirements of the field, including being able to communicate all aspects of compensation information effectively to your clients and employer.
There are several types of CCP certifications you can earn, including:
Global Remuneration Professional (GRP)
Certified Executive Compensation Professional (CECP)
Certified Sales Compensation Professional (CSCP)
Certified Benefits Professional (CBP)
These certifications illustrate that you have expertise in the field and understand compensation fundamentals. This qualification also shows a professional's skills, providing both the practitioner and employer with greater confidence in the individual's ability to implement the proper compensation plan and meet the needs of the company.
What are the benefits of earning a CCP certification?
There are several benefits of earning a CCP certification, such as:
Higher salary: Earning this certification indicates that you possess expert-level knowledge about the field and can perform compensation specialist duties. You might use your designation and expertise to negotiate for a higher salary with your current employer or when searching for a new position.
More job opportunities: Obtaining this certification may help you access more job opportunities. Since this qualification requires money and time to complete, it might demonstrate your commitment to professional development and continuous learning to potential employers.
Promotions: Sometimes, candidates may qualify for a position after obtaining one more certification to indicate they possess the proper knowledge. An HR or compensation professional might be able to earn a promotion to a more senior or management-level position once they earn this certification.
New skills: Earning a certification is an opportunity for you to gain new skills in the field and perform a more diverse range of tasks efficiently. Your employer may recognize your new skill set and give you the chance to demonstrate your competencies within a more lucrative position with greater responsibilities.
Competitive edge: This certification can be a challenging qualification to obtain, so if you earn it, you may differentiate yourself from other candidates who don't possess the same designation. This might help provide you with a competitive edge during your job search.
Who grants the CCP certification?
WorldatWork provides the CCP certification to candidates who successfully complete the entire program. This is a nonprofit organization that can help compensation and HR professionals optimize their current skills, capabilities and status within the industry. WorldatWork is the standard for professional and career development within the compensation and rewards field.
How do you earn a CCP certification?
To earn this certification, candidates must take the CCP training courses and successfully pass the following certification exams:
Total Rewards Management
Accounting and Finance for the Human Resources Professional
Strategic Communication in Total Rewards
Job Analysis, Documentation and Evaluation
Marketing Pricing and Conducting a Competitive Pay Analysis
Quantitative Principles in Compensation Management
Regulatory Environments for Compensation Programs
Base Pay Administration and Pay for Performance
Business Acumen for Compensation Professionals
Variable Pay and Improving Performance with Variable Pay
Who should earn a CCP certification?
This certification is primarily for HR professionals and experts who have several years of experience and want to expand their job opportunities by pursuing a specialized certification. This certification may be beneficial for an HR practitioner who wants to become a compensation specialist. It might also help compensation specialists who want to elevate their careers and handle more senior-level responsibilities. Aside from having experience, earning this qualification generally requires a candidate to possess the necessary skills and abilities of the industry so they can understand and practice the concepts presented in the program.
What companies hire compensation professionals?
Compensation professionals can work in many industries, such as business, education, science, entertainment, medical, manufacturing and technology. They often find work within organizations that have over 1,000 employees. Smaller organizations can also have compensation professionals but tend to allocate those responsibilities to general HR practitioners, the general manager or their finance department. Larger organizations may have several compensation specialists working for them.
What are the rules for retaining your CCP certification?
There are no challenging exams or courses to retake to retain your certification and designation. After completing a CCP exam successfully, the only requirement is that you remain active in the industry. This means that you can demonstrate proof of continuous work experience.
What are the cost expenses to become a CCP certification holder?
The costs for a CCP certification holder, which include training and examination fees, can vary depending on a candidate's membership status with WorldatWork and their chosen mode of instruction. Here are the available study options and their costs:
Traditional or virtual course: This program is for candidates who want to take the traditional or virtual course before the exam. The fee for nonmembers is $2,200, while the cost for members is $1,495.
Self-study with materials: A candidate that selects this option studies with learning materials from WorldatWork. The cost for nonmembers is $1,780, and the cost for members is $1,275.
Self-study without materials: If you choose this option, you prepare for the CCP exam on your own, instead of with WorldatWork training materials. The cost for this option is $500 per exam.
Since there are 10 total exams that a candidate takes to earn the CCP certification, the overall cost varies between $5,000 and $15,000. Consider calculating your travel expenses as well for this certification, as you're required to travel to an examination site to take your tests.
How long does it take to become a CCP holder?
For many candidates, it takes several years to obtain the certification. You can earn it as quickly as you can take the CCP training courses and complete all 10 examinations. There are several factors that can affect how long it takes, so it varies significantly. For instance, the amount of time you spend studying and testing is one factor. Another major factor is cost. This is an expensive certification, so your financial circumstances and available funds can determine how quickly you're able to complete the certification process.
Please note that none of the companies mentioned in this article are affiliated with Indeed.
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