Compensation Analyst

The Compensation & Benefits Analyst will support the design, administration, analysis, and governance of compensation and benefits programs across the organization. The role will be responsible for compensation benchmarking, annual salary review administration, internal parity analysis, rewards reporting, benefits administration, compensation data management, and Total Rewards analytics.

Key Responsibilities

Compensation Management

• Support end-to-end administration of compensation programs.
• Conduct compensation analysis for:
• New hires
• Promotions
• Internal movements
• Salary corrections
• Retention cases
• Employee transfers
• Prepare salary recommendations based on internal equity and market competitiveness.
• Maintain salary structures, pay ranges, and compensation frameworks.

Annual Compensation Review (APR)

• Support annual merit increase, promotion, and variable pay cycles.
• Validate employee data and compensation guidelines.
• Review manager recommendations for policy compliance.
• Prepare APR dashboards and budget utilization reports.
• Conduct compensation modelling and payout simulations.

Market Benchmarking & Job Evaluation

• Participate in compensation benchmarking activities with:
• Mercer
• WTW
• Aon
• Korn Ferry

Internal Parity & Rewards Analytics

• Conduct pay equity and internal parity analysis.
• Identify compensation anomalies and recommend for corrective measures.
• Generate periodic dashboards and analytics on:
• Salary movement
• Pay competitiveness
• Attrition trends
• Hiring premiums
• Promotion effectiveness
• Compensation costs
• Develop insights for HR and business leaders.

Compensation Governance & Compliance

• Ensure compliance with compensation policies and governance standards.
• Maintain compensation and benefits documentation.
• Support audits and data validation exercises.
• Assist in implementation of compensation-related regulatory changes, including Wage Code requirements where applicable.
• Ensure confidentiality and integrity of employee compensation information.

Reporting & HR Systems

• Maintain compensation databases and employee reward records.
• Generate monthly and quarterly Total Rewards MIS.
• Support HR system updates related to compensation and benefits.
• Ability to develop automated dashboards and reports using Excel and Power BI would be a added advantage.
• Improve reporting accuracy and reduce manual effort through automation.

Education & Qualifications

• Bachelor's Degree in HR, Finance, Business Administration, Economics, Statistics, or related discipline.
• MBA/PGDM (HR) preferred.
• Aon Rewards Ready, CCP, CBP, Mercer IPE, Korn Ferry Hay Methodology or similar certifications will be an added advantage.

Experience

• 610 years of experience in Compensation & Benefits or Total Rewards.
• Experience supporting compensation cycles in organizations with 1,000+ employees.
• Strong exposure to salary benchmarking and compensation analytics.
• Experience working with GCCs, MNCs, Shared Services, Engineering, Manufacturing, or Technology organizations preferred.

Technical Skills

Advanced Excel

• XLOOKUP / INDEX MATCH
• Pivot Tables
• Dashboard Creation
• Data Validation and Reconciliation
• Financial Modelling

Key Competencies

• Compensation Analytics
• Rewards Governance
• Data Interpretation
• Business Acumen
• Attention to Detail
• Confidentiality
• Stakeholder Management
• Problem Solving
• Process Improvement
• Presentation and Communication Skills