The compensations manager will be responsible for developing, implementing, and administering compensation plans for the firm. The Incumbent will analyze compensation problems and recommend solutions based on expertise, knowledge, and / or experience. The manager may provide direction and training to more junior staff.
ESSENTIAL FUNCTIONS:Design, implement, and administer exempt and non-exempt compensation programs (e.g., salary and annual and long-term incentive plans, and carried interest) Maintain current data on competitive compensation levelsManage firm’s participation in compensation surveys with external parties & vendorsConduct job evaluations to create market competitive pay structures for existing & new positionsDevelop salary structures and incentive programs, including pay bands/levels and base/incentive mixesManage external vendors for compensation benchmarking data and consulting services. Develop & refine methodology for annual merit increase guidelines across all business unitsResearch pay-related issuesSupport ad hoc data & analysis requests related to compensation in support of other functions & members of HR teamConsult & coordinate with recruiting & the wider HR team to make recommendations on pay for new hires, transfers, and promotionsManage firm’s pay equity practices to ensure equitable compensation within similar functions
EDUCATION/EXPERIENCE REQUIREMENTS: Bachelor’s degree in Business Administration or Human Resources or related fieldCCP or similar certification preferred7+ years’ experience in a hands-on compensation capacity (demonstrated understanding of FLSA and state/local regulations as it relates to compensation practices
KNOWLEDGE, SKILLS AND ABILITIES:Outstanding customer service skillsExcellent communication skills, both verbal and writtenProficient with compensation research and data analysisStrong problem-solving skillsAbility to make effective and persuasive presentations on complex topics to a wide variety of audiences including, employees, management, executives and the likeAbility to interpret analytics and translate them into a narrative easily understood by intended audiencesAbility to calculate figures and amounts such as discounts, commission, percentages and the likeAbility to define problems, collect data, establish facts and draw valid conclusions.Ability to adapt as the external environment as organization evolvesStrong Excel skills (pivot tables, look-ups, charts/graphs, formulas and functions)Expertise in use of Microsoft Office software applications and other computer applications, including a HRIS