Compensation analysts are hired to develop the compensation structures to maximize employee retention. They do this by analyzing remuneration packages depending on the position's responsibilities. As a Compensation Analyst, you will be in charge of the company's remuneration policies and programs. You will research and review different compensation data to make sure the company's remuneration policies are competitive. Similarly, you will ensure the companies comply with the relevant laws and regulations concerning compensation and remuneration. You will then prepare salary data and charts.
The educational requirement for this role is a bachelor's degree in business administration or human resources. However, professional certification is an added advantage. Compensation analysts are proficient with the use of Microsoft Office Word, Excel, and PowerPoint for data entry. Strong problem-solving and excellent verbal and written communication skills are also needed for the role. In addition, you must be proficient in compensation research and data analysis. You will earn an average of $30.23 an hour or $62,886 annually.