Are you looking for an exciting and rewarding career in the field of human resources? Consider becoming a compensation analyst. A compensation analyst is an HR professional who works to ensure that employees are paid fairly and competitively. This position requires someone who can think critically and strategically, as well as analyze data. Let’s take a look at some of the Compensation Analyst Job Description , responsibilities, duties, requirements, and salary expectations for this role.
Responsibilities of A Compensation Analyst
The primary responsibility of a compensation analyst is to analyze and manage various types of employee compensation programs such as base pay, bonus plans, long-term incentives, stock options, health insurance premiums, etc. The job also involves conducting market surveys to ensure that your company’s salary levels remain competitive with other organizations in the same industry.
Additionally, they will be responsible for developing new or revising existing pay structures within organizations. They may also need to provide advice on legal issues related to employee compensation.
Requirements & Skills Needed
A successful compensation analyst must have an extensive knowledge of labor law regulations and principles related to wages and benefits. They should also have excellent analytical skills and be able to interpret complex data sets into meaningful insights about the organization’s compensation structure.
In addition, strong communication and interpersonal skills are essential for this role since they will need to interact with all levels of staff from entry-level employees up to senior management. Lastly, experience in human resource information systems (HRIS) is beneficial because it helps them understand how different systems work together (e.g., payroll systems).
Salary Expectations
According to Glassdoor, the average salary for a compensation analyst ranges between $50K – $70K per year depending on experience level and location (e.g., larger cities tend to offer higher salaries). Furthermore, many companies offer additional bonuses or stock options based on performance which can help boost earnings even further.
Compensation Analyst Job Description
We are a market leader in their industry, with products and services that are used by millions of people worldwide. We have been in business for over 100 years and are a publicly traded company. We offer a competitive compensation and benefits package, as well as opportunities for career growth.
Job Description:
- The Compensation Analyst will be responsible for the administration of the company’s compensation programs, including but not limited to base pay, annual incentives, long-term incentives, and equity grants.
- This role will also participate in the development and implementation of new or revised compensation programs and policies.
- The Compensation Analyst will work closely with HR Business Partners, Talent Acquisition, Finance, and other stakeholders to ensure that programs are designed and administered in compliance with legal requirements and company objectives.
- This role will also conduct job evaluations using market data to determine appropriate pay levels for positions. Other duties as assigned.
The Successful Applicant:
- A minimum of three years of experience in compensation or related field required
- Bachelor’s degree required; Master’s degree preferred
- Certified Compensation Professional (CCP) designation preferred
- Strong analytical skills with the ability to effectively analyze data and draw conclusions based on findings
- Excellent communication (written & verbal), interpersonal, presentation, project management & influencing skills required
Offer Details:
- Job ID #1234 Full Time/Direct Hire Onsite
- No Remote Option Standard Benefits Package Base Salary 75k – 85k + Bonus Potential
Senior Compensation Analyst Job Description
This role is for a market leader in their industry, who boast a lot of inbound business and are actively looking to hire four Business Development Representatives. We are a 100% remote-based organization with a highly competitive salary.
Job Description:
The Senior Compensation Analyst will be responsible for conducting job evaluations, analyzing jobs to determine appropriate FLSA classification and recommended grade level, developing recommendations for new or revised pay structures, participating in the design and implementation of incentive compensation programs, and providing expert consultation on all aspects of compensation. Other duties as assigned.
- Conducts detailed job analysis to identify essential functions and competencies for each position; documents findings using established procedures
- Participates in the development and maintenance of job descriptions; provides input on changes to position title, responsibilities, etc.
- Partners with HR Business Partners and hiring managers to develop offers that are competitive within the marketplace while adhering to company guidelines; makes recommendations on offer strategies as needed
- Develops proposals for new or revised pay structures based on analysis of internal equity, external competitiveness, and budgetary considerations; recommends solutions that support the business strategy while ensuring compliance with all applicable laws
- Evaluates requests for special exceptions to policy (e.g., out-of-cycle salary increases); analyzes data and makes recommendations regarding approval
The Successful Applicant will have:
- Bachelors Degree in Human Resources or related field required; Masters Degree preferred
- 5 years experience in progressively responsible positions within Compensation required
- YPHR/SPHR certification preferred – Strong analytical skills with high attention to detail and accuracy
- Excellent verbal/written communication & interpersonal skills
Offer Details:
- Highly competitive salary
- Comprehensive health coverage (medical dental & vision)
- Online mental health therapy We make wellness a priority!
- Unlimited PTO from day one AND paid leave for all new parents!
- A WFH stipend monthly wellness allowance AND amazing merchandise
Sales Compensation Analyst Job Description
We are rapidly growing startup that provides an online platform for businesses of all sizes to manage our sales compensation programs. We are a young, passionate team on a mission to make it easy for companies to pay their sales teams fairly and accurately. We are backed by top-tier investors and have experienced incredible growth since our launch in 20_ _.
Job Description:
As a Sales Compensation Analyst at Client, you will be responsible for working with our customers to configure and optimize their sales compensation programs. You will be the primary point of contact for our customers during the implementation process and will work closely with them to ensure a successful launch of their program.
In addition, you will be responsible for ongoing administration of customer programs including processing commissions payments, resolving commission disputes, and providing support on new features and product updates. This is a highly visible role within the organization that offers tremendous opportunity for growth.
The Successful Applicant:
- 2-4 years of experience in sales operations or sales compensation administration
- Strong analytical skills and experience working with large data sets
- Excellent communication skills and ability to build relationships with customers
- Ability to work independently and take ownership of projects from start to finish
- Experience with Salesforce or other CRM platforms preferred but not required
- Bachelors degree required; Masters degree preferred but not required
Offer Details:
- Salary range $85-95k depending on experience plus bonus opportunity
- equity grants
- 401k match
- Full benefits package including competitive medical plan
Workers Compensation Analyst Job Description
We are one of the largest third-party administrators of workers’ compensation claims in the United States. We have been in business for over 30 years and are headquartered in Chicago, IL. And we offer a competitive salary and benefits package, as well as a comprehensive training program.
Job Description:
The Workers’ Compensation Analyst will be responsible for the accurate and timely processing of workers’ compensation claims. This includes but is not limited to:
- Reviewing claim documents for completeness and accuracy
- Investigating claim inquiries
- Determining benefit eligibility
- Processing claim payments
- Maintaining claim files
- Providing excellent customer service to claimants, employers, and medical providers
The Successful Applicant:
- Must have at least 2 years of experience processing workers’ compensation claims
- Knowledge of state specific workers’ compensation laws and regulations preferred but not required
- Strong analytical and problem solving skills
- Excellent written and verbal communication skills
Offer Details:
- Competitive salary
- Full benefits package including 401k, medical, dental, vision, life insurance, etc.
- Generous PTO policy
Conclusion:
Becoming a successful compensation analyst requires hard work but it can be very rewarding both financially and professionally when done correctly. The role requires someone who has an expertise in labor law regulations as well as exceptional analytical skills needed for interpreting complex data sets into meaningful insights about the organization’s current or proposed compensation structure(s). If you’re looking for an exciting career in human resources that pays well then consider becoming a compensation analyst today!