Compensation Manager
3 weeks ago
Summary:
The Senior Manager of Compensation is responsible for developing data-driven compensation initiatives for lawyers and staff to attract, motivate, and retain top talent within the firm. This role also involves managing non-partner performance management and compensation cycles across the organization, ensuring alignment with the firm's objectives.
Responsibilities:
- Develop, implement, and maintain a comprehensive and equitable compensation strategy that aligns with firm objectives, industry standards, and regulatory requirements.
- Supervise, train, and develop professionals in analytics, compensation, and performance management.
- Collaborate with HR business partners and senior leaders to ensure compensation strategies support functional goals.
- Evaluate and monitor staff and non-partner lawyer positions to ensure internal equity and market competitiveness.
- Implement and administer new compensation programs, including base salary, bonuses, and incentive plans.
- Assess current compensation structures for effectiveness and develop design recommendations.
- Enhance and develop communications related to analytics and compensation.
- Develop, monitor, and manage the compensation budget.
- Coordinate competitive analysis processes, including survey strategy, data analysis, and executive presentations.
- Develop innovative proposals, analysis, and presentations for analytics and compensation-related topics.
- Create user-friendly reports summarizing key compensation metrics, trends, and recommendations for senior leaders.
- Perform other job duties and analyses as assigned.
Qualifications:
Education and Experience:
Required:
- Bachelor’s degree.
- Minimum of 7 years of human resources, accounting, actuarial, or consulting experience.
- 5-7 years of compensation strategy/administration or performance management experience.
- In-depth knowledge of salary structure and design.
- Thorough understanding of compensation principles, practices, and regulations.
- Strong analytical skills with the ability to interpret complex data and provide data-driven recommendations.
- Proficiency with Excel and other relevant programs (e.g., PayFactors/PayScale, PeopleSoft, Oracle, Workday).
- High level of integrity and discretion in handling sensitive information.
Preferred:
- Master of Business Administration (MBA) degree.
- Consulting experience.
- Experience in transformation and change leadership.
- Experience with compensation management systems.
Other Skills and Abilities:
- Strong organizational and attention-to-detail skills.
- Good judgment and interpersonal communication skills.
- Strong analytical and problem-solving abilities.
- Ability to work harmoniously with others and maintain confidentiality.
- Capacity to work under pressure, manage multiple projects, and meet deadlines efficiently.
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