Compensation Analyst, Employee Benefits Division
The Compensation Analyst is integrally involved in researching and developing compensation materials for a range of client projects including Board compensation, senior management compensation, broad-based compensation, and sales compensation. This position works closely with the firm’s senior staff to deliver compensation solutions to new and existing clients.
The Compensation Analyst demonstrates good judgment in selecting methods and techniques for obtaining solutions for projects that are varied in size and complexity and requires creative thinking and the ability to address client-specific requests on short notice with minimal guidance. This position receives general instructions on new projects or assignments and is expected to use independent discretion and judgment when gathering and analyzing information to recommend a course of action regarding deliverables.
Essential Duties and Responsibilities:
- Research, Analysis, and Plan Design
- Develop unique, client-specific peer groups using a range of research skills to appropriately select companies
- Perform basic and complex research to determine best sources of market data information using both in-house and online research and software tools
- Gather, analyze and synthesize compensation data using published surveys and public-filings
- Analyze market data to include public, pre-IPO and private company financial data to assess all elements of compensation including base salary, bonus, long-term incentive, etc.
- Examine predictions and trends for market changes in salary ranges and bonuses
- Customize templates to design and model short- and long-term incentive programs to address specific organizational needs in various stages of the business lifecycle including mergers, acquisitions, IPOs, and strategic reorganizations
- Develop custom compensation surveys to collect and analyze competitive salary information to determine company's competitive position
- Develops salary structures
- Client Interaction
- Work with client to gather initial compensation-related details to gain project-related clarification, which might include a review of job content, compensation data, understanding current plan design and policy information, understanding current compensation philosophy, etc.
- Conduct interviews with client’s HR team and employees as needed
- Develop Client Materials
- Write proposals for compensation consulting services based on information gathered during initial client meeting and or from information gathered by senior staff
- Customize financial models to present client data and market data to present findings and to determine cost implications of recommended changes to support the pay philosophy
- Create complex client deliverables including proposals and reports that involve interpreting and presenting meaningful conclusions and communicating the results in a clear, client-ready format
- Working closely with the client, provide guidance to the client and develop compensation policies and procedures, taking into account changes in federal, state, and local regulations, workforce contractual requirements, and market trends
- Prepare client-ready reports detailing the background, findings, and recommendations for all types of analyses
- Client Presentations
- Meet with clients to present background, findings, and recommendations
- Answer questions and provide guidance regarding methodologies and sources
Education and/or Experience
Successful candidate will be a service-oriented individual with high personal standards and a hands-on work style. This position requires an individual who is comfortable working at a varying pace, managing multiple tasks and deadlines simultaneously, adjusting priorities often, and managing frequent interruptions.
This position has a high level of contact with clients. The Compensation Consultant must be positive and approachable, and work effectively with diverse personalities. In addition, candidate will have the following characteristics:
- Requires a formal education such as a degree in Business, Economics, Finance, or a related field, and up to 2-5+ years of experience directly related to the duties and responsibilities specified above in either an internal corporate or external consultant role. Demonstrated experience in audit compliance accompanied by specialized designations such as Certified Compensation Professional (CCP), Certified Benefits Professional (CBP) and Certified Public Accountant (CPA) can be considered in lieu of direct compensation consultation experience.
- Maintain a valid Driver’s License & have reliable transportation.
- Strong analytical and problem solving skills with the ability to analyze complex and diverse issues requiring significant interpretation and attention to detail.
- Working knowledge of the market, trends, regulations, and political environment impacting compensation.
- Experience understanding financial concepts and interpreting/analyzing data from published surveys and public filings.
- Ability to work independently as well as exercise good judgment when collaboration is needed.
- Ability to effectively manage demands with flexibility, dedication, and speed under challenging circumstances.
- Ability to handle a wide variety of non-routine and difficult inquiries, where the solution is not immediately apparent.
- Strong oral communication, written, presentation, and interpersonal skills.
- Project management and organizational skills.
- Proficient use of Microsoft Office, including Excel, PowerPoint, Word, and Outlook.
- Working knowledge of compensation-related issues that are needed to address complex and unique client problems
Work Environment & Physical Demands
- Ability to use computer keyboard and sit in a stationary position for extended periods
- Work is performed in a typical interior/office work environment
- 15% - 30% travel may be required. Travel consists of approximately 3 – 5 overnight trips per year lasting an average of 2 days each. In addition, 1 day per week is spent visiting clients within region
- Extended work hours (approximately 10 hours/day) required on occasion due to a fluctuating workload
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