Compensation Manager leads the development, implementation, and administration of compensation programs, policies, and procedures. Manages common compensation functions, including survey participation, job evaluation, salary structure development, incentive plan design, and associated analysis. Being a Compensation Manager ensures that base pay, incentive pay and performance management programs remain competitive and conform to current compensation strategy. Requires a bachelor's degree. Additionally, Compensation Manager typically reports to head of a unit/department. The Compensation Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Extensive knowledge of department processes. To be a Compensation Manager typically requires 5 years experience in the related area as an individual contributor. 1 to 3 years supervisory experience may be required. (Copyright 2019 Salary.com)
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