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)
Discusses best practices and concepts in data analytics.
Level 2 Behaviors
(Light Experience)
Collects data from sources to provide data analysis and insights.
Level 3 Behaviors
(Moderate Experience)
Makes recommendations based on findings from data analytics to report to potential clients.
Level 4 Behaviors
(Extensive Experience)
Communicates data analytics results to initiate insights to stakeholders and our organization.
Level 5 Behaviors
(Mastery)
Develops new Data Analytics methodologies and procedures to support business in decision making.
Skill definition-Designing, managing, assessing and implementing compensation plan to attract and retain talent.
Level 1 Behaviors
(General Familiarity)
Describes the process of designing employee benefits program.
Level 2 Behaviors
(Light Experience)
Conducts appropriate audits of benefit programs in accordance with compliance standards.
Level 3 Behaviors
(Moderate Experience)
Creates communication materials relating to updated compensation and benefit programs.
Level 4 Behaviors
(Extensive Experience)
Develops a periodic evaluation process to determine effectiveness of benefits program.
Level 5 Behaviors
(Mastery)
Champions the adoption of creative benefits package to ensure market competitiveness.
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)
Describes the concepts and principles of budgeting operations.
Level 2 Behaviors
(Light Experience)
Assists in developing and improving budgeting models, plans, and strategies.
Level 3 Behaviors
(Moderate Experience)
Compares planned budgets vs. actual expenditures, identifies, reports, and explains variances.
Level 4 Behaviors
(Extensive Experience)
Determines system capabilities and needs to improve the process for financial budgeting.
Level 5 Behaviors
(Mastery)
Develops financial models to support the strategic improvement of our budgeting processes.
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)
Describes the importance of analytical thinking in the workplace.
Level 2 Behaviors
(Light Experience)
Applies appropriate methods to organize and disclose meaningful data patterns.
Level 3 Behaviors
(Moderate Experience)
Creates and interprets causal links among various datasets.
Level 4 Behaviors
(Extensive Experience)
Coaches others on using logic and reasoning to process and organize information.
Level 5 Behaviors
(Mastery)
Establishes critical training and initiatives to foster analytical thinking across our business.
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.
