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This question is about what a compensation analyst does and compensation analyst.
What is it like being a compensation analyst?
Being a compensation analyst is like being the person who analyzes systems and determines the best distribution of resources in that system.
In other words, compensation analysts are hired to develop compensation structures to maximize employee retention. To accomplish this, compensation analysts must research and review different compensation data to make sure the company's remuneration policies are competitive.
A typical compensation analyst, for example, may review company survey data that provides salary information for different areas around the globe. They may then provide that salary information to the survey company and break it down for each position.
Using that information, they can better see where certain positions are sitting compared to other companies who also report.
The process of comparing is essentially the same for existing positions as it is for new positions. For existing positions, they match the job with what they see in the market data - with each company having its own spread for jobs (the difference between the range minimum and the range maximum).
A compensation analyst must take that into consideration since different types of jobs have different range spreads.
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