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 tools and techniques in business data analytics.
Level 2 Behaviors
(Light Experience)
Supports the existing business technology systems to develop a mature data analytics capability.
Level 3 Behaviors
(Moderate Experience)
Works with data analytics team to ensure data integrity and accuracy on the service.
Level 4 Behaviors
(Extensive Experience)
Shares to the team the latest technological advances to accelerate data analytics.
Level 5 Behaviors
(Mastery)
Shares emerging advancements and technologies in data analytics to our organization.
Skill definition-Designing, managing, assessing and implementing compensation plan to attract and retain talent.
Level 1 Behaviors
(General Familiarity)
Lists the factors that should be considered in the development of the benefits objectives.
Level 2 Behaviors
(Light Experience)
Responds to employee inquiries regarding benefits program.
Level 3 Behaviors
(Moderate Experience)
Reviews cost and usage rates of existing benefit programs to assess actual and perceived value.
Level 4 Behaviors
(Extensive Experience)
Oversees the development of the benefits objectives to ensure comply with overall strategic goals.
Level 5 Behaviors
(Mastery)
Keeps current on latest state laws and regulations impacting employee benefit programs to ensure compliance.
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)
Lists the elements and the steps on how to conduct budgeting.
Level 2 Behaviors
(Light Experience)
Tracks and reports financial inefficiencies to ensure smooth functioning of our budgeting processes.
Level 3 Behaviors
(Moderate Experience)
Works with senior management in creating appropriate budget amounts.
Level 4 Behaviors
(Extensive Experience)
Recommends alternative budgeting strategies for resolving budgeting issues in our workplace.
Level 5 Behaviors
(Mastery)
Introduces technologies, policies, and programs for more effective budget management.
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)
Lists skills, traits, and characteristics of analytical thinkers.
Level 2 Behaviors
(Light Experience)
Makes a list of items without order or set of priorities.
Level 3 Behaviors
(Moderate Experience)
Summarizes historical experience to find probable causes of the problem.
Level 4 Behaviors
(Extensive Experience)
Leads brainstorming to encourage teammates to create new perspectives.
Level 5 Behaviors
(Mastery)
Promotes the adoption of business intelligence analysis technology to drive strategic decisions.
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.
