Compensation Analyst

Unclassified - Minneapolis, MN

Full-time - Mid Level

Minneapolis, MN

About the position

Compeer Financial is seeking a Compensation Analyst to join our dynamic team in Minneapolis, Minnesota. This position plays a crucial role in the development, implementation, and administration of our compensation programs. The Compensation Analyst will be responsible for conducting thorough analyses of internal and external salary data, evaluating job classifications, and ensuring that our compensation practices align with organizational policies and market competitiveness. This role serves as a vital resource for team members and leaders, providing support to the Total Rewards team in administering various compensation and rewards programs as needed. In this position, the Compensation Analyst will collaborate closely with department leaders and HR partners to conduct job analyses and evaluations for new and revised positions. This includes drafting, editing, and updating job descriptions, as well as determining the Fair Labor Standards Act (FLSA) status and appropriate salary grades. The analyst will participate in salary surveys to benchmark our compensation programs and conduct market pricing using appropriate survey sources and criteria. Additionally, the role involves analyzing market competitive practices in compensation programs and recommending necessary adjustments, such as pay range modifications and merit increases. The Compensation Analyst will also work with HR partners to analyze and recommend compensation packages for job offers, ensuring alignment with internal equity and competitive external market pricing. Furthermore, the analyst will assist in designing and administering variable compensation programs, including short and long-term incentive plans, commission plans, and other bonus structures. This position requires a strong analytical mindset, excellent communication skills, and the ability to manage multiple projects simultaneously in a collaborative team environment.

Responsibilities

• Collaborates with department leaders and HR partners to complete job analysis and job evaluation on new and revised positions.
• Drafts, edits, and updates job descriptions, evaluating them to determine FLSA status and appropriate salary grade.
• Participates in salary surveys to benchmark company compensation programs.
• Conducts market pricing using appropriate survey sources, scope criteria, and survey job matches.
• Analyzes market competitive practices in compensation programs and recommends adjustments such as pay range adjustments and merit increases.
• Collaborates with HR partners to analyze and recommend compensation packages for job offers, ensuring alignment with internal equity and competitive external market pricing.
• Assists in the design and administration of variable compensation programs including short and long-term incentive plans, commission plans, and other bonus plans.

Requirements

• Bachelor's degree in human resources, business administration, finance, or related field; or an equivalent combination of education and experience sufficient to perform the essential functions of the job.
• Minimum of 3 years of compensation or human resources analytics work experience, including handling personal and confidential information.
• Professional compensation or human resources certifications preferred (SPHR, PHR, CCP).
• Knowledge of FLSA and compensation-related federal, state, and local regulations.
• Knowledge of general industry compensation practices.
• Strong client service focus, communication (verbal and written), presentation, interpersonal, and conflict resolution skills.
• Strong analytical skills and ability to make recommendations based on data and effectively communicate the information.
• Tact, diplomacy, and good judgment are necessary, even when working under pressure.
• Excellent attention to detail, organization, and time-management skills.
• Quick learner who thrives in a collaborative team environment.
• Proven ability to work independently and manage multiple projects simultaneously.
• Advanced proficiency with Microsoft Excel and other MS Office applications.
• Report writing skills in an HRIS for compensation and analysis purposes.
• Ability to gather and process large volumes of data used in the administration of various compensation programs.
• Ability to maintain HR and compensation expertise through ongoing educational opportunities.

Nice-to-haves

• Experience with HRIS systems for compensation management.
• Familiarity with agricultural industry compensation practices.

Benefits

• Medical, Dental, Vision insurance
• 401K (3% Compeer contribution & up to an additional 6% match)
• Paid time off (vacation, sick leave, holidays, volunteer time)