Job brief
We are seeking a data-driven Compensation and Benefits Analyst to optimize our total rewards strategy and ensure we remain an employer of choice in our industry. You will play a critical role in evaluating market data, managing our annual merit review cycle, and streamlining benefits administration to improve the employee experience. If you are passionate about HR analytics, possess a deep understanding of wage and hour laws, and enjoy solving complex organizational pay challenges, we would love to hear from you. This is an impactful role for a detail-oriented professional looking to shape our company’s approach to compensation and employee value propositions.
Key highlights
- Conduct comprehensive market salary benchmarking using industry-standard surveys to ensure our pay structures remain competitive within the relevant labor markets.
- Manage the annual compensation planning cycle, including salary increases, merit budgets, and short-term or long-term incentive plan modeling.
- Oversee the administration of health, welfare, and retirement benefit programs, serving as the primary point of contact for external insurance carriers and brokers.
- Ensure total rewards programs comply with federal and state labor laws, including FLSA, ERISA, HIPAA, and Affordable Care Act requirements.
What is a Compensation and Benefits Analyst?
A Compensation and Benefits Analyst is a specialized HR professional responsible for designing, implementing, and managing total rewards programs that attract and retain top talent. By analyzing market trends and salary benchmarks using tools like Radford or Mercer, a Compensation and Benefits Analyst ensures that pay structures and employee benefits remain competitive and financially sustainable. This role is essential for maintaining internal equity and regulatory compliance, directly influencing organizational morale and talent acquisition success.
What does a Compensation and Benefits Analyst do?
A Compensation and Benefits Analyst spends their day performing complex job evaluations, conducting market pricing analyses, and modeling the fiscal impact of new incentive structures. They manage open enrollment processes, resolve complex benefits-related inquiries with insurance carriers, and ensure all compensation data is accurately reflected in HRIS platforms like Workday or ADP. Beyond data analysis, they partner with HR leadership to translate benchmarking data into actionable salary grades and bonus plans that align with the organization's broader financial objectives.
Key responsibilities
- Conduct comprehensive market salary benchmarking using industry-standard surveys to ensure our pay structures remain competitive within the relevant labor markets.
- Manage the annual compensation planning cycle, including salary increases, merit budgets, and short-term or long-term incentive plan modeling.
- Oversee the administration of health, welfare, and retirement benefit programs, serving as the primary point of contact for external insurance carriers and brokers.
- Analyze HR data within our HRIS to identify trends in pay equity, turnover, and benefit utilization, presenting actionable insights to HR leadership.
- Ensure total rewards programs comply with federal and state labor laws, including FLSA, ERISA, HIPAA, and Affordable Care Act requirements.
- Design and maintain job descriptions, ensuring proper job leveling and FLSA classification for all positions across the organization.
- Coordinate the annual open enrollment process, including the development of employee communications, benefits fair logistics, and systems configuration.
- Partner with the Talent Acquisition team to develop competitive new-hire offer packages that balance internal equity with market-driven requirements.
Requirements and skills
- Bachelor’s degree in Human Resources, Finance, Business Administration, or a related quantitative field.
- 3+ years of professional experience in compensation, total rewards, or HR analytics with a focus on benchmarking and salary administration.
- Advanced proficiency in Microsoft Excel, specifically regarding VLOOKUPs, Pivot Tables, and complex financial modeling for compensation planning.
- Deep technical knowledge of HRIS systems such as Workday, ADP Workforce Now, or Paylocity for benefits and payroll data management.
- Certified Compensation Professional (CCP) or Professional in Human Resources (PHR) certification is highly preferred.
- Demonstrated ability to maintain absolute confidentiality when handling sensitive salary data, personal employee information, and executive equity plans.
- Strong analytical mindset with the ability to interpret complex regulatory requirements and communicate their impact to non-technical stakeholders.
- Experience navigating international compensation practices and global benefit administration is considered a significant asset for this role.
FAQs
What does a Compensation and Benefits Analyst do?
A Compensation and Benefits Analyst designs and manages an organization's pay and perks strategy. They perform market research to ensure salaries are competitive, handle benefit enrollment processes, ensure compliance with labor laws, and analyze internal pay equity. They act as the bridge between financial budgets and employee satisfaction, ensuring the company attracts and retains the best people.
What skills are required for a Compensation and Benefits Analyst?
This role requires a blend of quantitative and analytical skills, including advanced Excel proficiency and experience with HRIS platforms like Workday or ADP. A strong understanding of labor regulations (FLSA, ERISA) and market pricing methodologies is essential. Additionally, the ability to communicate technical compensation concepts to management and HR teams is a critical soft skill.
Who does a Compensation and Benefits Analyst work with?
They collaborate daily with HR managers, talent acquisition specialists, and finance departments to align compensation strategy with budget constraints. They also interact frequently with employees to explain benefits packages and work with external vendors like insurance carriers and third-party benefits consultants to manage program delivery.
Is a Compensation and Benefits Analyst a good career choice?
Yes, this is a highly stable and impactful career path, particularly for those who enjoy working with data and organizational strategy. As companies increasingly prioritize pay transparency and talent retention, experts in total rewards are in high demand. It offers excellent opportunities for growth into HR leadership, total rewards management, or specialized consulting roles.