Compensation Analyst Job Description

Compensation Analyst Job Description

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Compensation analyst provides feedback to business units on compensation practices to guarantee compliance with federal, state and industry standards.

Compensation Analyst Duties & Responsibilities

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

Sample responsibilities for this position include:

Works to ensure that compensation levels are internally equitable, externally competitive, easily understood, affordable, designed to pay for performance, easily administered, flexible and in compliance with state and federal laws and regulations
Build and review competitive compensation packages for internal and external hires in a manner consistent with internal guidelines and principles
Supporting global compensation plans, programs, policies and practices
Communicating and training internal and external clients on compensation policies and practices
Stay abreast of employment law updates, monitor and interpret FLSA and other federal, state and local laws regulating compliance for company salary and pay policies
Participate in timely completion of annual compensation projects short and long-term incentive awards
Performs various compensation analyses using data from the HRIS system
Provide expert compensation & benefits consultation and support as requested
Lead/support all assigned local, regional and/or global compensation initiatives and processes
Provide value added compensation data analysis to facilitate management and HR decision-making

Compensation Analyst Qualifications

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

Licensing or Certifications for Compensation Analyst

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

Education for Compensation Analyst

Typically a job would require a certain level of education.

Employers hiring for the compensation analyst 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, Business, Finance, Business/Administration, Education, Accounting, Economics, Statistics, Mathematics, Management

Skills for Compensation Analyst

Desired skills for compensation analyst include:

Excel
Practices
Federal
Microsoft Excel
HRIS systems
State
Word
Principles
Compensation
PowerPoint

Desired experience for compensation analyst includes:

Collaborate with Finance, Payroll, and Legal to ensure our stock plans and equity grant process are administered timely and accurately
Lead and or participate in multiple salary surveys, working with units/divisions on job matching
College degree, preferably in Human Resources or a related field
Strong spreadsheet, mathematical, problem solving, analytical and communication skills
Experience with MarketPay or similar market pricing and survey data management system a plus
Partner with HRIS team to conduct various audits on employee and job data in HRIS

Compensation Analyst Examples

1

Compensation Analyst Job Description

Job Description Example
Our company is growing rapidly and is looking for a compensation analyst. 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 analyst
  • Strong MS Word and MS PowerPoint for plan documents and presentations
  • Compile and analyze compensation survey data
  • Support recruitment team and HR business partners with market job pricing and compensation related inquiries
  • Respond to internal ad-hoc requests related to compensation
  • Provide reporting and information delivery related to metrics and compensation data as requested
  • Participates in compensation development/training activities
  • Developing, administrating and enhancing innovative compensation tools, systems and reports
  • Maintaining and preparing compensation-related data
  • Distribute all incentive compensation reports and payments
  • Conducts and responds to compensation surveys, analyzes data and creates reports
Qualifications for compensation analyst
  • Respect for highly sensitive and confidential data imperative
  • Prior experience in a Human Resources or Recruitment/Talent Acquisition role within an interdisciplinary Human Resources Team is a plus
  • 1 year PeopleSoft experience
  • 1 year PeopleSoft Query Experience
  • CCP designation or pursuing certification
  • Gathers and analyzes benchmark data from various survey sources
2

Compensation Analyst Job Description

Job Description Example
Our innovative and growing company is looking to fill the role of compensation analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for compensation analyst
  • Works with Compensation Director and VP on incentive plan documentation and communication
  • Provides education to HR and business on compensation policy, processes
  • Assist with the development and implementation of compensation policies, programs, services and tools that improve process and efficiency with a focus on delivering a high level of customer service
  • Participate in key compensation surveys and maintain market data
  • Maintain internal contracts database to ensure that compensation elements are consistent with customer and regulatory requirements
  • Liaise with HR Generalists and HR Shared Services on C&B matters including benchmarking, job catalogue, and benefits
  • Support administration of C&B and other HR operational processes
  • Partner closely with external vendors (tax, legal and HR consulting), Payroll, Finance, Legal, HR and Div C&B leads for complex issue resolution and to ensure programs are in compliance with legal and regulatory requirements
  • Manage the day to day administration of 401(k) plans, including compliance activities, projects and administration
  • Research issues and identify solutions with Payroll, Finance and vendors with assistance from counsel when necessary and provide support to partners regarding participant issues
Qualifications for compensation analyst
  • Support of Kick-off and execution of Compensation core processes like JSC Band Review, Benchmarking/Market Data analysis, End-of-Year Review, presentations, reports, tracking & chasing and provide system support like MyCompensation, OBI
  • Conduct quality assurance of various Compensation deliverables
  • Comfortable working w/ numbers
  • Maturity/sensitivity to confidential information
  • Support of Kick-off and execution of Compensation core processes like Hr Tool (JSC) Band Review, Benchmarking/Market Data analysis, End-of-Year Review, presentations, reports, tracking & chasing and provide system support like MyCompensation, Reports Tool (OBI)
  • Manage projects and provide recommendations to improve processes/plans
3

Compensation Analyst Job Description

Job Description Example
Our company is growing rapidly and is looking for a compensation analyst. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for compensation analyst
  • Conducts and participates in compensation surveys, analyzes data and creates reports
  • Analyzes compensation survey data and assist in recommending salary range assignments for all salaried positions
  • Assist with the appropriate analysis, interpretation, and communication of company compensation policies to establish a uniform understanding and application across all lines of business
  • Assists in the development and administration of focused programs for management, key executives and officers intended to align total compensation with Company business objectives
  • Assisting in the development of incentive programs and the administration of performance review or merit-rating programs
  • Reviewing salary increases for compliance with organization policy and budget
  • Participate in salary surveys and ensure survey timelines are met
  • Support the annual salary and bonus planning cycle by providing data and documentation
  • Coordinating the preparation of position descriptions and, if applicable, evaluating positions
  • Evaluates job positions, determines FLSA classification, writes job descriptions, establishes pay ranges and compiles cost-of-living data
Qualifications for compensation analyst
  • Utilize MarketPay to manage survey library (updating surveys and matches for efficient pricing and survey participation)
  • Must have a Bachelor’s degree in an analytical discipline
  • Must have 1-3 years of experience in an analytical position
  • Previous computer programming experience preferred but not required
  • Assist in the administration and execution of current bonus and performance management programs
  • Advanced Excel (Vlookups and VBA)
4

Compensation Analyst Job Description

Job Description Example
Our innovative and growing company is looking to fill the role of compensation analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for compensation analyst
  • Lead the development and completion of compensation processes and initiatives which include annual compensation reviews, competitive and ad hoc analyses
  • Develop and update quantitative models to assess compensation practices and the company's competitive position
  • Stay ahead of emerging market trends in compensation practices
  • Create recommendations regarding regular review and updates to the compensation structure
  • Participate in compensation surveys to collect and analyze competitive salary information to determine company's competitive position
  • Work with HRIS to ensure the system is meeting compensation needs and is updated to reflect changes to salary structures, bonus programs
  • Works closely with the HRIS team to ensure job grades, codes, are properly graded and maintained in systems
  • Administer monthly Store Incentive Programs
  • Provide support for the Company’s HR system of record (Workday) by working with the business and HRIS staff
  • Financial or accounting orientation
Qualifications for compensation analyst
  • WAW membership or CCP course work a plus Strong analytical skills
  • Displays strong initiative and high standards
  • Displays sound commercial acumen
  • Up to 3 years experience in Compensation, HR, and/or Finance preferred (title/level varies based on years of experience)
  • Administer and conduct analysis of base salary structure
  • BA/BS degree in business, HR, Accounting or Finance
5

Compensation Analyst Job Description

Job Description Example
Our innovative and growing company is hiring for a compensation analyst. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compensation analyst
  • Implements and administers base pay and incentive compensation programs, including job classification and job family structures, job pricing criteria and compensation structures
  • Assists in special compensation projects, including development of new and redesign of existing rewards programs by providing insight and analytical skills to evaluate impacts and effects of changes to compensation programs
  • Performs ongoing competitive analysis, market analysis and recommendations, job family descriptions, job audits and analysis, job classification analysis and recommendations, establishing policies and guidelines, auditing practices against guidelines, strategic scanning of the external environment, external reporting, and vendor management
  • Generate reports to disseminate compensation metrics to COE team
  • Manage survey library and compensation software
  • Support Compensation Directors and consulting engagements
  • Produces a variety of competitive, financial and statistical analyses in support of global compensation design efforts
  • Develops training programs to communicate new or revised compensation programs
  • Act as a Compliance resource for business units within assigned areas of responsibility
  • Contribute to the communication, roll-out, and project management of the focal point salary planning and incentive payout processes at both the corporate and project levels
Qualifications for compensation analyst
  • Excellent Excel Skills are a must
  • Must be highly proficient in Microsoft Office Suite, particularly in Excel with the ability to create pivot tables and utilize functions such as VLOOKUP, MATCH, and INDEX
  • 1 to 2 years of experience as a Compensation Analyst is preferred
  • Ability to use a personal computer and Microsoft Office software applications.Proficiency with Microsoft Excel, with strong emphasis in statistical analysis
  • 2+ years of experience in a compliance or security-related position
  • Experience in managing audit and compliance related projects preferred

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