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)
Describes the fundamentals of data and business analytics.
Level 2 Behaviors
(Light Experience)
Applies broad knowledge and best practices to provide data analytics services to clients.
Level 3 Behaviors
(Moderate Experience)
Communicates and interprets data to provide clarity to non-technical and technical audiences.
Level 4 Behaviors
(Extensive Experience)
Collaborates with cross-functional teams to produce data analytics key indicators and metrics.
Level 5 Behaviors
(Mastery)
Designs the conceptual, logical, and physical data models to support the analytic data requirements.
Skill definition-Designing, managing, assessing and implementing compensation plan to attract and retain talent.
Level 1 Behaviors
(General Familiarity)
Compares the pros and cons of two benefits vendors.
Level 2 Behaviors
(Light Experience)
Collects required information to support the analysis of benefits program objective.
Level 3 Behaviors
(Moderate Experience)
Communicates benefits clearly to employees based on company policies.
Level 4 Behaviors
(Extensive Experience)
Analyzes industry trends to help improve overall benefits strategy and program offerings.
Level 5 Behaviors
(Mastery)
Analyzes current benefits costs and creates a budget spreadsheet outlining annual benefits costs.
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)
Compiles a list of basic issues and risks for conducting our budget processes.
Level 2 Behaviors
(Light Experience)
Applies established guidelines for conducting our budgeting processes.
Level 3 Behaviors
(Moderate Experience)
Communicates budget objectives and plans to help identify financial trends and create budget forecasts.
Level 4 Behaviors
(Extensive Experience)
Anticipates organizational income and expenses to make forecasts and develop budget plans.
Level 5 Behaviors
(Mastery)
Adapts relevant industry trends on techniques in financial budgeting in our organization.
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)
Clarifies the differences between analytical thinking and critical thinking.
Level 2 Behaviors
(Light Experience)
Analyzes the importance of the problem and determines the key points to solve it.
Level 3 Behaviors
(Moderate Experience)
Applies various theories, concepts, or analytical tools to analyze complex problems.
Level 4 Behaviors
(Extensive Experience)
Anticipates and develops comprehensive solutions to reduce potential obstacles, challenges, and risks.
Level 5 Behaviors
(Mastery)
Champions advanced methodologies and approaches, such as design thinking, for creative problem-solving.
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.
