Compensation Analyst

Job Overview

The Compensation Analyst is responsible for analyzing, evaluating, and maintaining core compensation policies, programs, and processes (including job evaluation, salary structure development, survey participation, incentive plan design, and associated analysis) to support the organization's business initiatives and strategic goals. Additionally, this position monitors Total Rewards programs, practices, and policies in compliance with applicable federal, state, and local statutes.

Duties & Responsibilities

• Conducts analysis and creates high-level summaries to support leadership presentations and decision processes
• Researches and analyzes market data trends that align external benchmarks with internal positions, evaluate internal equity, external competitiveness, business conditions, legal requirements, and economic impact to make sound recommendations and resolve compensation concerns
• Provides analytical support to identify gaps and inefficiencies in programs, processes for a broad base and, or incentive compensation initiatives
• Conducts individual and group salary analysis using market-based evaluation methods and prepare recommendations to maintain a competitive position within labor markets
• Audits compensation processes, programs, and provides recommendations to ensure compliance with internal guidelines and government regulations

Knowledge, Skills, & Abilities

• HR technologies, compensation modules, and compensation modeling and forecasting tools. Knowledge of relevant Federal, State, Local laws, regulations relating to compensation
• Experience in sourcing and managing salary benchmarking surveys, including job matching, survey submissions, comparative reviews, pay line analysis, and reporting
• Ability to manage multiple and competing priorities with high volume work periods combined with tight deadlines
• Strong analytical and problem-solving skills with the ability to influence, and lead discussions utilizing data High-level and advanced proficiency in MS Access, Excel, Word, and PowerPoint
• Excellent communication skills, teamwork, and collaboration

Minimum Qualifications

• High school diploma or GED
• Knowledge acquired through minimum 1 up to 5 years of relevant work experience

Preferred Qualifications

• Three (3) years of increasing responsibility in data analysis, market research, and comprehensive knowledge of compensation
• Bachelors Degree in Accounting, Statistics, Business Administration, Economics, Finance, Human Resources or related experience
• Society for Human Resource Management (SHRM) or HR Certification Institute (HRCI) certification

Work Environment

Office environment