Compensation Job Description

Compensation Job Description

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Compensation provides guidance and recommendations to HR Business Partners and business leaders to ensure consistent application of compensation guidelines and practices.

Compensation Duties & Responsibilities

To write an effective compensation job description, begin by listing detailed duties, responsibilities and expectations. We have included compensation job description templates that you can modify and use.

Sample responsibilities for this position include:

Compiles compensation survey data and compares to current salary structures & current associate compensation
Educate supervisors and managers on all compensation issues
Monitors the effectiveness of existing compensation policies, guidelines and procedures recommending plan revision new plans which are cost effective and consistent with compensation trends and corporate objectives
Analyze compensation data, create financial models to calculate costs, and execute on compensation calculation and processing
Prepare monthly and quarterly partner commissions, credits and accruals for finance
Assist with the design/implementation process for system enhancements
Create an effective process to document both existing and new compensation plan details and communicate to finance, accounting, sales leaders, and partner account managers
Partner with accounting, finance and sales leadership to identify channel partner compensation discrepancies
Support the indirect quota deployment process with Sales Operations and territory planning both annually and throughout the fiscal year
Implement the partner compensation plan consistently, document processes effectively, and ensure that partner compensation calculations comply with the plan and accounting rules

Compensation Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Compensation

List any licenses or certifications required by the position: CCP, SPHR, PHR, SHRM, GRP, WAW, SCP, CEBS, CP, HR

Education for Compensation

Typically a job would require a certain level of education.

Employers hiring for the compensation job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Human Resources, Finance, Business, Business/Administration, Education, Accounting, Economics, Mathematics, Administration, Statistics

Skills for Compensation

Desired skills for compensation include:

Claim file process through presentation of actions and responses to client questions
Accepted industry standards and practices Computer experience with related claims and business software
Regulations
Disability duration
Medical management practices and Social Security and Medicare application procedure as applicable to line of business
Offsets and deductions
Excel
Accepted industry standards and practices
Social Security and Medicare application procedure as applicable to line of business
Claims management processes and procedures for multiple product lines

Desired experience for compensation includes:

Knowledge of financial services would be a strong asset
Experience in survey design and analysis, statistical analysis, program design
Innovative, organized, self-starter, capable of managing multiple assignments simultaneously
Providing advice and support to the Global Compensation team, HR and other internal partners on questions of policy and interpretation of guidelines and plans
Providing expert analytical support in the development and maintenance of the policies, plans, guidelines and annual processes
Conducting analysis and draft recommendations to support compliance with regulatory programs

Compensation Examples

1

Compensation Job Description

Job Description Example
Our company is looking for a compensation. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compensation
  • Work with accounting, finance and sales leaders to assure that partner compensation plans are aligned with company strategies
  • Regulate and track key partner compensation performance drivers for channel partners, sales and partner account managers and deliver key reports to senior management
  • Complete user acceptance testing for calculation logic, data tables and reporting in the incentive compensation systems and related CRM and revenue tools
  • Provide supplementary training material to promote a deeper understanding of the partner compensation structure
  • Develop, evaluate and implement Sales Incentive plans to drive partner revenue while tracking ROI
  • Provide guidance to HR and Organizational leadership
  • Preparing and posting journal entries based on calculations and accruals for bonus, salary and benefit items
  • Reconciling and preparing analysis of accrual accounts
  • Preparing monthly “report cards” for bonus calculations
  • Accruals and general ledger entries for compensation related items such as bonus, payroll, employee benefits, insurance
Qualifications for compensation
  • 1-2 years' experience in compensation analysis and/or business forecasting an asset
  • BA/BS in Business Administration, Finance, Economics, or similar field
  • 5 years+ of experience in compensation, financial analysis, sales support, or related field, preferably in the IT industry
  • Experience in managing processes and controls in a Sarbanes-Oxley environment
  • Experience working in a global organization with collaboration across geographies prefered
  • Superior analytical skills, with a strong understanding of corporate accounting and finance concepts
2

Compensation Job Description

Job Description Example
Our innovative and growing company is hiring for a compensation. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compensation
  • Preparing and analyzing account reconciliation of balance sheet and profit/loss accounts
  • Comparing payroll output to input documents
  • Provide consultative advice to business partners on pay policy and plan document interpretation
  • Manage multiple projects for cross functional teams including all levels of management in the organization
  • Demonstrates a broad understanding of technical issues and alternatives for selecting an appropriate solution
  • Oversees the annual salary and bonus review process
  • Provide comprehensive analyses on accrual strategy, competitive market position and trends
  • Manage the annual bonus and merit process for Corporate and all US labels.Provide guidance, support and direction to managers and other colleagues
  • Participate, collaborate and engage as a leader with the greater Human Resources team and key internal stakeholders while establishing credibility, providing broad thought leadership and developing strong relationships
  • Provide senior management comprehensive reporting of competitive pay position versus marketplace
Qualifications for compensation
  • Expert ability to document compensation processes
  • Detail oriented with a natural interest in identifying and fixing problems
  • Ability to manage and complete multiple tasks, set priorities and meet deadlines
  • Prior exposure to compensation functions and awareness of fundamental concepts such as broad-based compensation programs (base/bonus/equity), pay for performance, benchmarking/market data, job evaluation
  • An Intern must be working toward a Bachelor’s or Master’s degree in business Administration, with a concentration in accountancy, economics, finance or human resources
  • Previous experience with compensation analysis tools Comp Analyst, Mercer, World at Work, Salary.coCm
3

Compensation Job Description

Job Description Example
Our innovative and growing company is hiring for a compensation. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for compensation
  • Counsel recruiting team and HR community on structure of pay packages to be offered to prospective candidates
  • Conduct ad-hoc analyses to evaluate and recommend pay adjustments to maintain internal equity and external competitiveness
  • Responsible for the design, development and implementation of market leading yet cost-effective salary and equity programs to build a unified culture
  • Review organizational structure, job evaluations, and financial statistics and negotiate final program
  • Develop techniques to compile, prepare and present data in response to special requests from internal divisions, survey companies and the general industry
  • Understand the customer needs and design work plans accordingly
  • Track and manage how compensation policies and practices align with the pay for performance principle
  • Provide compensation consulting and analysis for North American Corporate, Retail and Distribution/ Consumer Service business units with 1,700 Corporate employees and 9,000 store-based employees
  • Implement global job evaluation initiatives aligned with our talent management strategy
  • Contribute on projects and teams working on major initiatives (for example) global HRIS implementation
Qualifications for compensation
  • Proficient knowledge in Compensation industry trends and methodology
  • Compensation experience within financial services preferred
  • Monitoring trends in the competitive market and ensure programs continue to align with best practices and support the attraction and retention of qualified talent
  • Ability to work cross-functionally and partner, collaborate, and influence with various functions involved in the compensation management process
  • Three years Compensation or Human Resources experience
  • Five years Compensation, Human Resources, or HRIS experience
4

Compensation Job Description

Job Description Example
Our growing company is looking for a compensation. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for compensation
  • Co-lead the global year-end compensation review process with heads of Corporate and Asia Compensation
  • Manage the short term incentive program, including design, monitoring effectiveness and administration
  • Develop and recommend competitive and compelling offers to enable filling of critical roles
  • Counsel people managers and business partners on individual salary treatment
  • Ensure proper management of job coding and system job hierarchy in concert with HR Process and Systems team
  • Manage attractive and relevant communication to employees to answer queries on plans and keep documents and FAQs up-to-date
  • Ensures compliance on pay and wage related matters (minimum wage, FLSA)
  • Accountable for related SOX controls
  • Analytical and critical thinking ability
  • Experience working with and/or implementing global job evaluation/job leveling
Qualifications for compensation
  • Must have a Bachelor’s degree in an Business Administration, Human Resources, or a similar discipline
  • Previous experience with Financial Analysis, Journal Entries, Month-end Close, Payroll Accounting, and Reconciliations
  • Must be in an undergraduate degree program during the course of the internship
  • Must have a strong academic record (3.5+ GPA preferred)
  • Strong interest in HR
  • 1-3 years HR and/or compensation experience
5

Compensation Job Description

Job Description Example
Our company is looking to fill the role of compensation. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for compensation
  • Knowledge of government regulations as they apply to compensation base and incentive compensation programs
  • Intermediate and Advanced Excel skills are preferred
  • Experience working in US headquartered multinational corporate office is a plus
  • Quality written & verbal communication, interpersonal and presentation skills
  • 6-10 years of experience in compensation design, management and/or consulting
  • Experience in or working with the retail, luxury, and/or global consumer products industries is a plus
  • Compile benefits and costing data for labor relations team in support of collective bargaining agreement negotiation process
  • Implementation – Partner with training & support peers on the rollout of new tools and systems via training materials and post-launch support resources for longer-term incentive plan engine solutions
  • Order to partner in the design programs that meet business line and corporate objectives
  • Provides support to management in writing job descriptions and manages the on-going maintenance of job descriptions the job code table in PeopleSoft
Qualifications for compensation
  • Use judgment that is in consistent with standards, practices, policies, procedures, regulation or government law
  • Knowledge of principles and practices of personnel administration
  • Must possess high levels of both analytical and conceptual thinking
  • 10+ plus years of compensation experience as an individual contributor
  • Position requires a bachelor’s degree (Master’s degree preferred) and 10-15 years of demonstrated compensation experience
  • Demonstrated knowledge of current market trends and leading compensation practices to attract top talent

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