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- Tasks: Join our Reward team as a Compensation Analyst, supporting compensation initiatives and HR processes.
- Company: Be part of a prestigious global financial services firm known for its excellence.
- Benefits: Enjoy a competitive salary, flexible working options, and opportunities for professional growth.
- Why this job: Make an impact on talent attraction and retention while developing valuable analytical skills.
- Qualifications: Prior experience in a Reward Function and strong analytical skills are essential.
- Other info: This role requires 3 days in the office, located in the City.
The predicted salary is between 36000 - 60000 £ per year.
Our client, a prestigious global financial services firm, is looking for a bright and passionate Compensation Analyst to join their team. As a key member of the Reward team, the Compensation Analyst will be responsible for supporting the team and HR department on developing and administering compensation initiatives that support talent attraction, retention and engagement.
Key Responsibilities:
- Advising HR Business Partners on day-to-day compensation transactions, including promotions and ad-hoc pay increases, in line with established processes.
- Owning the compensation benchmarking and market analysis to ensure compensation packages are competitive against the external market, and internally equitable.
- Recommending compensation packages for recruitment activity, adhering to the framework and operational principles in place.
- Maintaining the job library and all associated data stored in the HR systems, ensuring robust data quality.
- Administering the annual pay review process, managing merit increases, promotions and short and long term incentive schemes.
- Providing analytical and reporting support for annual projects such as gender pay gap reporting, performance management processes and pay transparency activities, as well as ad-hoc compensation and HR projects, tools and initiatives.
- Managing the shared team mailbox, responding to a broad range of queries covering all elements of compensation.
- Developing strong working relationships with HR Business Partners, Operations, Payroll & Reward Team to work effectively and collaboratively together as a HR function, on all compensation related matters.
Skills and Experience:
- Prior experience working within a Reward Function, with a good understanding of reward and compensation principles.
- Experience supporting the annual pay review in a large and complex organisation structure (preferably operating in multiple locations).
- Benchmarking and job evaluation experience, including ideally an understanding of the Willis Towers Watson global grading methodology.
- An individual who is analytical, numerate and results focused.
- Ability to work flexibly and able to navigate a fast paced and client focused working environment.
- Knowledge of working with a variety of systems and the ability to apply problem solving skills to large and complex data sets from a variety of sources are essential.
- Advanced user of Microsoft Office, especially Excel. Experience using vlookups, index matching, Pivot tables, IF/SUM formulae and familiarity with manipulating multiple data sets.
- Experience with PowerBI and Power Query desirable.
- The ability to present data, trends and issues persuasively, graphically or in writing.
- Strong problem solving skills that can be applied to large and complex data sets from a variety of sources.
- Exceptional attention to detail.
- Communicates clearly and effectively across all levels of management.
- Strong time management and organisation skills are essential, with an ability to manage multiple tasks effectively at any one time.
This role is based in the City and requires 3 days per week in the office.
Compensation Analyst employer: TDA HR
Contact Detail:
TDA HR Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Compensation Analyst
✨Tip Number 1
Familiarise yourself with the latest trends in compensation and benefits. Understanding current market rates and compensation packages will help you speak confidently about how you can contribute to the team.
✨Tip Number 2
Network with professionals in the HR and compensation field. Attend industry events or join relevant online forums to connect with others who can provide insights and potentially refer you to opportunities.
✨Tip Number 3
Brush up on your analytical skills, especially with Excel and data manipulation. Being able to demonstrate your proficiency in handling complex data sets will set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your previous experience in a Reward Function. Be ready to share specific examples of how you've contributed to compensation initiatives and how you’ve navigated challenges in past roles.
We think you need these skills to ace Compensation Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in compensation analysis and HR functions. Use keywords from the job description, such as 'compensation benchmarking' and 'data quality', to demonstrate your fit for the role.
Craft a Compelling Cover Letter: In your cover letter, express your passion for the role and the company. Mention specific experiences that align with the responsibilities listed, such as managing pay reviews or working with complex data sets.
Showcase Analytical Skills: Provide examples of how you've used analytical skills in previous roles. Highlight your experience with tools like Excel, PowerBI, and any relevant methodologies, ensuring you convey your ability to handle large data sets effectively.
Proofread Your Application: Before submitting, carefully proofread your application materials. Check for spelling and grammatical errors, and ensure that all information is clear and concise. Attention to detail is crucial for this role.
How to prepare for a job interview at TDA HR
✨Showcase Your Analytical Skills
As a Compensation Analyst, you'll need to demonstrate your analytical prowess. Be prepared to discuss specific examples of how you've used data analysis in previous roles, especially in relation to compensation benchmarking and market analysis.
✨Familiarise Yourself with Compensation Principles
Make sure you have a solid understanding of reward and compensation principles. Brush up on the latest trends in compensation packages and be ready to discuss how you would apply these in the role.
✨Highlight Your Technical Proficiency
Since advanced Excel skills are crucial for this position, be ready to talk about your experience with vlookups, pivot tables, and other relevant functions. If you have experience with PowerBI or Power Query, mention that too!
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving abilities. Think of situations where you've had to manage multiple tasks or navigate complex data sets, and be ready to explain your thought process and outcomes.
