Compensation Analyst

Compensation Analyst evaluates, analyzes, and recommends changes to employee compensation in alignment with company policies, objectives, and budget. As a key member of the Human Resources team, they possess a deep understanding of pay structures, salary bands, and market analysis1. Their responsibilities typically include:

1. Designing and Administering Compensation Programs: This involves creating and managing employer compensation programs, including base pay, long and short-term incentives, spot bonuses, commissions, and stock options. These programs should align with company objectives for recruiting, retention, and employee engagement.

2. Pay Structure and Grade Design: Compensation Analysts design and communicate pay structures, grades, compensation budgets, and guidelines. They advise managers on effective pay decisions that support employee engagement while adhering to compensation policy and budgetary guidelines.

3. Job Evaluation and Job Descriptions: They evaluate jobs within the organization and develop and maintain job descriptions and job architecture. This helps ensure consistency and fairness in compensation across different roles.

4. Market Research and Analysis: Compensation Analysts participate in compensation surveys, conduct research, and analyze market competitiveness, pay equity, and compensation trends. This information informs decisions about salary adjustments and benefits.

5. Education and Experience: Typically, a bachelor’s degree or equivalent is required. Compensation Analysts often report to a manager and work on projects of limited complexity in a support role. Relevant experience is beneficial but not always mandat