Skills & Competencies for Compensation Analyst II

Compensation Analyst II job profile

JOB SUMMARY for Compensation Analyst II

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.

JOB RESPONSIBILITIES for Compensation Analyst II

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.

Compensation Analyst II SALARY RANGE

BASE 50%
$80,069
TOTAL 50%
$82,695
Job Level
P02
Job Code
HR09200005
Education/Degree
Bachelor's Degree
Reports To
Manager

Compensation Analyst II Skills and Competencies List

Proficiency Levels and Behavioural Indicators
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 II skill and competencie below to view definitions.

10 general skills or competencies (Job family competencies) for Compensation Analyst II

1 Job Family Competencies – Benefit Programs
Proficiency Level -2
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.
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Level 2 Behaviors
(Light Experience)
Participates in design and development of competitive benefit program.
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Level 3 Behaviors
(Moderate Experience)
Leads discussion on the cost constraints in offering benefits to employees.
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Level 4 Behaviors
(Extensive Experience)
Monitors benefit programs cost and recommends appropriate actions to mitigate cost.
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Level 5 Behaviors
(Mastery)
Develops HRIS to assist the analysis, evaluation and reporting of benefits.
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2 Job Family Competencies – Compensation Management
Proficiency Level -3
Skill definition-Managing and determining the salary, bonuses, and benefits to ensure competitive and appropriate compensation for employees.
Level 1 Behaviors
(General Familiarity)
Identifies and describes different types of employee compensation in our workplace.
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Level 2 Behaviors
(Light Experience)
Identifies and collects employee feedback on specific issues related to compensation and benefits.
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Level 3 Behaviors
(Moderate Experience)
Reviews compensation data to assist management with making pay decisions and designing pay programs.
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Level 4 Behaviors
(Extensive Experience)
Monitors employee compensation to ensure compensations remain competitive to retain the best talent.
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Level 5 Behaviors
(Mastery)
Establishes the guidelines and criteria for evaluating the appropriate employee compensation.
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3 Compensation Analyst II - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compensation Analyst II
Proficiency Level - 4
5 Competency for - Compensation Analyst II
Proficiency Level - 5

9 soft skills or competencies (core competencies) for Compensation Analyst II

1 Core Competencies – Budgeting
Proficiency Level -2
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 different purposes and uses of our organization's budgets.
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Level 2 Behaviors
(Light Experience)
Produces budget reports showing planned vs. actual variances highlighted and explained.
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Level 3 Behaviors
(Moderate Experience)
Reviews and helps approve major budget adjustments to negotiate and reconcile line variances.
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Level 4 Behaviors
(Extensive Experience)
Monitors budgeting processes to ensure adherence to our organization's financial practices and standards.
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Level 5 Behaviors
(Mastery)
Forecasts asset needs to leverage available inventory and data compilation for annual budgeting.
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2 Core Competencies – Analytical Thinking
Proficiency Level -2
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.
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Level 2 Behaviors
(Light Experience)
Gathers necessary information from various channels to support decision-making.
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Level 3 Behaviors
(Moderate Experience)
Handles complex issues and provides solutions to improve efficiency and scalability.
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Level 4 Behaviors
(Extensive Experience)
Evaluates the cost, return, risks, and achievements before recommending a solution.
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Level 5 Behaviors
(Mastery)
Forecasts customers' expectations and formulates strategies to ensure customer satisfaction.
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3 Compensation Analyst II - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compensation Analyst II
Proficiency Level - 4
5 Competency for - Compensation Analyst II
Proficiency Level - 5

Summary of Compensation Analyst II skills and competencies

There are 0 hard skills for Compensation Analyst II.
10 general skills for Compensation Analyst II, Benefit Programs, Compensation Management, Data Gathering and Analysis, etc.
9 soft skills for Compensation Analyst II, Budgeting, Analytical Thinking, Attention to Detail, etc.
While the list totals 19 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 II, he or she needs to be proficient in Budgeting, be proficient in Analytical Thinking, and be skilled in Attention to Detail.

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