Compensation Analyst I assists in the analysis, design, and administration of employer compensation programs, including base pay, incentive pay, and performance management programs. Evaluates jobs, determines pay grades, participates in compensation surveys, and performs associated analysis. Being a Compensation Analyst I ensures that requests for pay adjustments comply with current compensation policy. Typically requires a bachelor’s degree. Additionally, Compensation Analyst I typically reports to manager. The Compensation Analyst I works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Compensation Analyst I typically requires 0-2 years of related experience.
Compensation Analyst Job Description Template
Our company is looking for a Compensation Analyst to join our team.
Responsibilities:
- Assesses jobs and their respective duties to determine classification as exempt or nonexempt and appropriate salary range;
- Partners with Talent Acquisition to support the organization’s objective of attracting and retaining talent;
- Monitors compliance with changes in applicable laws and regulations;
- Collaborates with internal clients across the organization to identify and resolve compensation-related initiatives and issues;
- Researches and evaluates new/changing compensation practices and policies;
- Prepares and maintains job classifications and salary scales;
- Usual office working conditions.
Requirements:
- Bachelor’s Degree or Equivalent;
- Excellent analytical skills;
- Strong service orientation and sense of urgency in responding to client requests;
- Assesses jobs and their respective duties to determine classification as exempt or nonexempt and appropriate salary range;
- 5+ years of Compensation experience;
- 3+ years of Compensation experience;
- Compensation expertise in design and analytics and/or experience with Tableau;
- Ability to work well with multiple, changing priorities and tight deadlines;
- Prepares and maintains job classifications and salary scales;
- Excellent organizational and time management skills;
- Detail oriented;
- Ethics and discretion;
- Experience with MarketPay or similar tool;
- Ensures that external market tool has up to date job descriptions;
- Develops compensation reports. Assists in program and initiative development and presentation to management.