Position: Senior Compensation Analyst
Target Salary: $100,000 - $130,000 with OT and Bonus
Location: Chicago, IL
Onsite Logistics: Hybrid (3 Days) Onsite
The Senior Compensation Analyst is responsible for designing, implementing and managing full range compensation-related information, ensuring compliance with federal and state regulations, and aligning compensation strategies with organizational goals. This role involves collaboration with managers to analyze job duties, determine FLSA classifications, and recommend appropriate salary ranges while utilizing compensation planning software and HRIS systems.
In this capacity, the Senior Compensation Analyst will:
- Data Management and Compliance:Maintain and audit compensation-related data, including job codes, FLSA classifications, and salary scales;
- Ensure compliance with federal, state, and local employment regulations impacting compensation policies;
- Communicate regulatory updates and compensation-related policies to managers and leadership.
- Job Analysis and Salary Management:Collaborate with managers to understand job responsibilities, skills, and requirements;
- Conduct job evaluations and determine appropriate FLSA classifications;
- Establish and recommend salary ranges based on market data and internal equity;
- Critical involvement and main lead in the annual merit review, pay equity analysis, as well as off cycle promotion and market increases.
- Compensation Planning Tools:Utilize MarketPay or similar compensation planning software to analyze and benchmark compensation data;
- Work with Workday systems to support compensation management and reporting.
- Best Practices and Strategy Development:Stay informed of industry trends, best practices, and emerging initiatives in compensation management;
- Provide recommendations to improve current policies and processes to enhance organizational effectiveness.
- Manager Support and Communication:Serve as a resource for managers, providing guidance on compensation policies, salary planning, and regulatory compliance;
- Facilitate clear and effective communication regarding compensation strategies and initiatives.
Proficiencies:
- Advanced Excel skills; Strong knowledge of compensation best practices, benchmarking, pay structure and job evaluation;
Qualifications:
- 5+ years of experience in compensation analysis or a related field, preferably in a professional services environment;
- Proficiency in MarketPay or similar compensation planning software;
- Experience with Workday or equivalent HRIS platforms;
- Experience in annual salary and bonus processes;
- CCP (Certified Compensation Professional) certification;
- Advanced knowledge of compensation laws and regulations;
