Analyzes, designs, and administers employer compensation programs, including base pay, long and short-term incentives, spot bonuses, commissions, and stock that align with company objectives for recruiting, retention, and employee engagement.
Designs and communicates pay structures, grades, compensation budgets, and guidelines. Advises managers on making effective pay decisions that support employee engagement and comply with compensation policy and budgetary guidelines. Evaluates jobs and develops and maintains job descriptions and job architecture. Participates in compensation surveys, conducts research and analysis on market competitiveness, pay equity, and compensation trends.
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Compensation Analyst I skill and competencie below to view definitions.
Skill definition-Applying techniques and processes in examining and evaluating raw data to derive conclusions to support business decision-making.
Level 1 Behaviors
(General Familiarity)
Lists the steps on how to run and develop data analytic models.
Level 2 Behaviors
(Light Experience)
Identifies opportunities for data analytics process improvement and automation.
Level 3 Behaviors
(Moderate Experience)
Uses data analytics for all reporting to meet user requirements.
Level 4 Behaviors
(Extensive Experience)
Performs data quality audits to ensure compliance with custom analytic deliverables.
Level 5 Behaviors
(Mastery)
Keeps up-to-date on emerging technology trends in data analytics to apply in our organization.
Skill definition-Designing, managing, assessing and implementing compensation plan to attract and retain talent.
Level 1 Behaviors
(General Familiarity)
Identifies major types of benefits program.
Level 2 Behaviors
(Light Experience)
Performs employees' needs assessment to support the selection and of benefit program.
Level 3 Behaviors
(Moderate Experience)
Recommends improvements to the overall benefits program.
Level 4 Behaviors
(Extensive Experience)
Monitors overall benefits benchmarking activities to assess current programs and policies.
Level 5 Behaviors
(Mastery)
Establishes a periodic evaluation process to assess effectiveness of benefits.
Skill definition-Applying specific policies, tools and practices to plan and prepare projected revenues, expenses, cash flows, and capital expenditures.
Level 1 Behaviors
(General Familiarity)
Explains the importance of budget reporting and forecasting in our workplace.
Level 2 Behaviors
(Light Experience)
Supplies supporting information and justification for major line items.
Level 3 Behaviors
(Moderate Experience)
Utilizes software tools and applications to forecast our annual budget accurately.
Level 4 Behaviors
(Extensive Experience)
Provides in-depth training to our entire organization about the zero based budgeting methodology.
Level 5 Behaviors
(Mastery)
Forecasts asset needs to leverage available inventory and data compilation for annual budgeting.
Skill definition-Gathering, organizing, and analyzing information to identify the root cause of organizational problems and develop alternative solutions accordingly.
Level 1 Behaviors
(General Familiarity)
Identifies tools that assist analytical thinking.
Level 2 Behaviors
(Light Experience)
Illustrates logical relationships among diverse entities.
Level 3 Behaviors
(Moderate Experience)
Investigates analytical thinking tools and incorporates them accordingly.
Level 4 Behaviors
(Extensive Experience)
Guides others to analyze all factors and parameters that need to be considered.
Level 5 Behaviors
(Mastery)
Investigates industry trends and adjusts our business's strategy accordingly.
There are 0 hard skills for Compensation Analyst I.
10 general skills for Compensation Analyst I, Data Analytics, Benefit Programs, Compensation Management, etc.
8 soft skills for Compensation Analyst I, Budgeting, Analytical Thinking, Attention to Detail, etc.
While the list totals 18 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Compensation Analyst I, he or she needs to be proficient in Budgeting, be proficient in Analytical Thinking, and be proficient in Attention to Detail.
