Compensation Analyst Job Description

compensation analyst job description includes a detailed overview of the key requirements, duties, responsibilities, and skills for this role.

Last update : July 14, 2023

Compensation Analyst Job Description

Compensation analysts are specialized financial professionals who conduct compensation surveys and analyses.

Compensation analysts gather information from a variety of sources.

This includes surveys of company executives and employees, as well as financial and operational data.

Compensation analysts then compile and analyze this information to draw conclusions about the pay and benefits offered to employees.

Compensation analysts then present their findings to executives to help them make effective decisions about compensation, benefits, and retention.

Compensation analysts may also conduct compensation analyses for executives to help them make business decisions regarding revenue, expenses, and capital structure.

Job Brief:

We’re looking for a Compensation Analyst who can help us determine the best way to compensate our employees. This includes developing, implementing, and administering compensation programs that are fair and consistent with our company’s overall compensation strategy. The Compensation Analyst will also be responsible for conducting research and analysis on current and future compensation programs, as well as providing recommendations on how to improve our existing programs.

Compensation Analyst Duties:

  • Provide analytical support to the Chief Financial and Accounting Officer regarding compensation
  • Articulate recommendations for compensation policies and programs
  • Promote effectiveness and efficiency of compensation policies and programs
  • Performs market research
  • Promotes employee satisfaction and retention
  • Understands and promotes business goals and objectives
  • Provides leadership and direction to staff
  • Prepares and delivers presentations

Compensation Analyst Responsibilities:

  • Develop and administer compensation programs, including salary benchmarking, job evaluation and pay structure development
  • Conduct compensation analyses and recommendations, including analysis of market data to determine appropriate pay levels, job roles, and compensation structures
  • Develop and administer incentive compensation plans
  • Develop and administer individual compensation plans
  • Develop and administer new hire compensation programs
  • Determine appropriate allocations for non-salary benefits, such as health insurance, vacation, training, and relocation
  • Assist with annual salary reviews and salary action plans
  • Develop and maintain compensation policies and procedures
  • Develop and maintain compensation-related documents
  • Provide compensation-related training to employees
  • Assist with HR related policies
  • Assist with current compensation-related projects

Requirements And Skills:

  • Bachelor’s degree or higher in business administration, economics, accounting, finance, or industrial/organizational psychology
  • 2+ years’ proven experience in compensation, benefits, or human resources
  • Excellent communication skills
  • Knowledge of general business software and aptitude to learn new applications;

Company Name is proud to be an Equal Opportunity Employer. We believe that building a diverse and inclusive team is essential to our success. We encourage applications from people of all races, religions, national origins, genders, and ages, as well as veterans and individuals.

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