Skills & Competencies for Compensation Analyst IV

Compensation Analyst IV job profile

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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%
$126,013
TOTAL 50%
$135,765
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
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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)
Describes the process of designing employee benefits program.
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Level 2 Behaviors
(Light Experience)
Conducts appropriate audits of benefit programs in accordance with compliance standards.
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Level 3 Behaviors
(Moderate Experience)
Creates communication materials relating to updated compensation and benefit programs.
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Level 4 Behaviors
(Extensive Experience)
Develops a periodic evaluation process to determine effectiveness of benefits program.
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Level 5 Behaviors
(Mastery)
Champions the adoption of creative benefits package to ensure market competitiveness.
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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)
Explains the fundamentals and principles of employee compensation management.
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Level 2 Behaviors
(Light Experience)
Assists the management in developing a compensation structure based upon employee performance.
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Level 3 Behaviors
(Moderate Experience)
Helps in interpreting salary survey results to support the management of compensation programs.
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Level 4 Behaviors
(Extensive Experience)
Drafts plans of compensation initiatives to ensure successful execution of employee compensation.
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Level 5 Behaviors
(Mastery)
Develops and administers effective compensation programs under our organization's reward strategy.
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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)
Compiles a list of basic issues and risks for conducting our budget processes.
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Level 2 Behaviors
(Light Experience)
Applies established guidelines for conducting our budgeting processes.
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Level 3 Behaviors
(Moderate Experience)
Communicates budget objectives and plans to help identify financial trends and create budget forecasts.
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Level 4 Behaviors
(Extensive Experience)
Anticipates organizational income and expenses to make forecasts and develop budget plans.
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Level 5 Behaviors
(Mastery)
Adapts relevant industry trends on techniques in financial budgeting in our organization.
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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)
Clarifies the differences between analytical thinking and critical thinking.
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Level 2 Behaviors
(Light Experience)
Analyzes the importance of the problem and determines the key points to solve it.
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Level 3 Behaviors
(Moderate Experience)
Applies various theories, concepts, or analytical tools to analyze complex problems.
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Level 4 Behaviors
(Extensive Experience)
Anticipates and develops comprehensive solutions to reduce potential obstacles, challenges, and risks.
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Level 5 Behaviors
(Mastery)
Champions advanced methodologies and approaches, such as design thinking, for creative problem-solving.
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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.

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