Every point in this skill increases the effect of your innate class bonuses by 0.5% effectively multiplying your bonuses by 1.5 at skill of 100. Later skills will increase it even further.
Class Enhancement is the first of several skills you have in the Stats section that provide a few unique properties to your levelling pace. For starters, unlike the previous four (Melee, Magic, Defense, and Recovery), any levels gained in this will *not* count towards your gaining a level. While this seems like a negative, it isn't necessarily that -- if you wish to sit and grind a group of enemies without wanting to out-level them, you can swap to CE so as to still be gaining experience in something without hampering your ability to get trophies.
Now, having said that....Class Enhancement is a poor skill for overall advancement. For your average class, they have bonuses that range in the "5% (up to 15%)" range. The unfortunate part of this number is that it is confusing for some -- the "up to 15%" is a 10% increase, and that is if you get to 100 ranks of Class Enhancement *and* Class Specialization (a skill unlocked at level 20). As the tooltip reads, it increases your innate Class Bonuses by 0.5%, increasing it by 50% at 100 ranks.
...here's the catch: that 50% is multiplied by your existing base stat. Therefore, if you have a base bonus of 5% to something, then 100 ranks of this skill will put you at a robust. 7.5%, or a total gain of 2.5% Thus, every point in CE nets you around 0.025%. For all the effort involved, that seems rather paltry.
This is also multiplied by the aforementioned Level 20 Skill Class Specialization. Thus, if you were at 10 ranks of Class Enhancement (0.25% for a class with a 5% bonus), each point in Class Specialization be multiplied by 101% (1% per level). Thus, your 1 rank in CE - 5.025% - would become 5.07525%.. Again, not tremendously worth the trouble...but if you are anxious to grind trophies off of enemies and don't want to level past them, and want to still level something that will provide a (minute) boost, then it's worth the effort.
...but most likely, you'll view it as a means for gaining XP without levelling. That's what the rest of us do. Yes, you will eventually see real effects from leveling it, but for lowbies it is a prime means for holding onto their level, grinding out a miniscule increase in ability, and (mostly) giving them a means to pick up extra trophies.
If you seriously want to level a class specialty to a noticeable effect, note that the quickest way is to level both Class Enhancement and Class Specialization approximately equally. A proof of concept is shown in this table: CEvsCS.
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