Skills & Competencies for Compensation Analyst IV

Compensation Analyst IV job profile

Book a Demo and Receive a Sample Job Profile

JOB SUMMARY for Compensation Analyst IV

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 IV

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 IV SALARY RANGE

BASE 50%
$125,685
TOTAL 50%
$135,408
Job Level
P04
Job Code
HR09200325
Education/Degree
Bachelor's Degree
Reports To
Manager or Head of a Unit/Department

Compensation Analyst IV 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 IV skill and competencie below to view definitions.
JOB FAMILY COMPETENCIES CORE COMPETENCIES
BOOK A DEMO

9 general skills or competencies (Job family competencies) for Compensation Analyst IV

1 Job Family Competencies – Benefit Programs
Proficiency Level -3
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Performs employees' needs assessment to support the selection and of benefit program.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Recommends improvements to the overall benefits program.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Monitors overall benefits benchmarking activities to assess current programs and policies.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Establishes a periodic evaluation process to assess effectiveness of benefits.
See 4 More Skill Behaviors
2 Job Family Competencies – Compensation Management
Proficiency Level -4
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Prepares reports and statistical information to identify potential issues in compensation management.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Reviews compensation data to assist management with making pay decisions and designing pay programs.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Monitors employee compensation to ensure compensations remain competitive to retain the best talent.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Establishes the guidelines and criteria for evaluating the appropriate employee compensation.
See 4 More Skill Behaviors
3 Compensation Analyst IV - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compensation Analyst IV
Proficiency Level - 4
5 Competency for - Compensation Analyst IV
Proficiency Level - 5

11 soft skills or competencies (core competencies) for Compensation Analyst IV

1 Core Competencies – Budgeting
Proficiency Level -3
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Supplies supporting information and justification for major line items.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Utilizes software tools and applications to forecast our annual budget accurately.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Provides in-depth training to our entire organization about the zero based budgeting methodology.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Forecasts asset needs to leverage available inventory and data compilation for annual budgeting.
See 4 More Skill Behaviors
2 Core Competencies – Analytical Thinking
Proficiency Level -4
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Illustrates logical relationships among diverse entities.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Investigates analytical thinking tools and incorporates them accordingly.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Guides others to analyze all factors and parameters that need to be considered.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Investigates industry trends and adjusts our business's strategy accordingly.
See 4 More Skill Behaviors
3 Compensation Analyst IV - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compensation Analyst IV
Proficiency Level - 4
5 Competency for - Compensation Analyst IV
Proficiency Level - 5

Summary of Compensation Analyst IV skills and competencies

There are 0 hard skills for Compensation Analyst IV.
9 general skills for Compensation Analyst IV, Benefit Programs, Compensation Management, Data Gathering and Analysis, etc.
11 soft skills for Compensation Analyst IV, Budgeting, Analytical Thinking, Attention to Detail, etc.
While the list totals 20 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 IV, he or she needs to be skilled in Budgeting, be skilled in Analytical Thinking, and be skilled in Attention to Detail.

It's Easy to Get Started

Get the precision you need to assess, hire, and develop top talent with skills and competencies – see how with a personalized demo.