Please scroll down, To apply

Compensation Analyst

hiring now
New job

Grayson Search Partners

2024-09-20 12:48:15

Job location Chicago, Illinois, United States

Job type: fulltime

Job industry: Banking & Financial Services

Job description


Job Summary:

The Compensation Analyst is responsible for developing, implementing, and maintaining compensation structures and programs to attract, retain, and motivate employees. This role involves analyzing compensation data, ensuring compliance with relevant laws and regulations, and recommending adjustments to compensation plans as needed.


Key Responsibilities:
  1. Compensation Analysis:

    • Conduct job evaluations and market salary surveys to benchmark compensation levels.
    • Analyze internal pay equity and external market competitiveness.
    • Prepare reports and recommendations on salary structures, pay grades, and compensation policies.
  2. Compensation Program Development:

    • Assist in the design and implementation of compensation programs, including base salary, incentives, and benefits.
    • Develop and maintain job descriptions and salary structures.
    • Ensure compensation practices are aligned with organizational goals and objectives.
  3. Compliance and Reporting:

    • Ensure compensation practices comply with federal, state, and local regulations.
    • Prepare and maintain documentation for audits and compliance reviews.
    • Monitor and report on trends and changes in compensation regulations.
  4. Data Management:

    • Maintain and update compensation databases and systems.
    • Conduct data analysis to support compensation decisions and strategies.
    • Ensure the accuracy and integrity of compensation data.
  5. Consultation and Communication:

    • Provide guidance to HR and management on compensation-related issues.
    • Assist in resolving employee compensation inquiries and concerns.
    • Educate employees and management on compensation programs and policies.
  6. Market Research:

    • Stay updated on industry trends and market conditions related to compensation.
    • Conduct periodic salary surveys and analyze compensation data to ensure competitive positioning.

Qualifications:
  • Education: Bachelor's degree in Human Resources, Business Administration, Finance, or related field. Certification (e.g., Certified Compensation Professional, CCP) is a plus.
  • Experience: 2-4 years of experience in compensation analysis or a related HR field. Experience with compensation software and tools is advantageous.
  • Skills:
    • Strong analytical and problem-solving skills.
    • Proficiency in Microsoft Excel and compensation management systems.
    • Excellent communication and interpersonal skills.
    • Attention to detail and ability to handle confidential information.

Inform a friend!

<!– job description page –>
Top