Compensation Analyst

Job Summary

The Compensation Analyst is responsible for providing analysis, assistance, and guidance in the development and administration of compensation programs across the organization. This role collaborates closely with leaders and Human Resources team members to provide compensation recommendations that support organizational objectives, ensure market competitiveness, and promote equitable pay practices.

Essential Functions

• Completes internal and external compensation analyses and pay quotes.
• Provides support for compensation projects, including compensation policies and practices, new hire and transfer compensation reviews, market benchmarking, and compensation program communications.
• Responds to compensation-related inquiries through the Human Resources service delivery model.
• Assists with compensation training and communication initiatives.
• Analyzes compensation and workforce data to identify trends, develop insights, and provide data-driven recommendations.
• Develops cost models, forecasting analyses, and plan design recommendations related to compensation programs, including base pay, incentive plans, and retention strategies.
• Supports the development, implementation, and administration of compensation programs and processes.
• Provides guidance regarding pay decisions, policy interpretation, and job evaluations.
• Monitors the effectiveness of compensation programs and recommends enhancements aligned with market trends and organizational goals.
• Assists in the design and administration of compensation-related programs and incentive plans.
• Compiles, prepares, and presents compensation data and reports.
• Participates in compensation and salary surveys and analyzes market data to support compensation strategy.
• Researches and recommends competitive compensation practices and solutions.
• Ensures compliance with applicable federal, state, and local compensation laws and regulations.
• Participates in special projects and may be assigned responsibility for specific components of larger compensation initiatives.
• Performs other duties as assigned.

Education

• Bachelor's degree in Human Resources, Business Administration, Finance, Accounting, Economics, or a related field.

Experience

• Minimum of two (2) years of experience in Human Resources, Compensation, Finance, Accounting, Data Analytics, or a related field.

Preferred Qualifications

• Experience working with compensation administration, job evaluations, salary surveys, or market pricing.
• Strong analytical, problem-solving, and organizational skills.
• Advanced proficiency with Microsoft Excel and data analysis tools.
• Experience working with Human Resource Information Systems (HRIS).
• Knowledge of compensation principles, employment laws, and compensation best practices.