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Position Details
Designation: Compensation Analyst
Department: Human Resources – Compensation & Benefits / Total Rewards
Experience: 1–2 Years
Location: Mumbai
Reporting To: DGM HR
Position Purpose
The Compensation Analyst will support the HR team in designing, analysing and administering compensation and rewards programs. The role will involve compensation benchmarking, salary analysis, market intelligence, rewards analytics and support for annual compensation processes.
The ideal candidate should have a strong analytical mindset, excellent Excel skills, attention to detail and a good understanding of Compensation & Benefits and Total Rewards practices.
Key Responsibilities
1. Compensation & Benefits
Support day-to-day Compensation & Benefits activities and compensation-related analysis.
Assist in the preparation and maintenance of salary structures, grades, bands and compensation components.
Support annual salary review, merit increase and promotion processes.
Analyse employee compensation data and identify inconsistencies, anomalies and gaps.
Support preparation of compensation proposals for new hires, promotions, transfers and other employee movements.
Ensure accuracy and confidentiality of compensation data.
2. Compensation Benchmarking & Market Analysis
Conduct salary and benefits benchmarking using market surveys and external compensation data.
Analyse market positioning of various roles and identify gaps against market benchmarks.
Support preparation of peer/company and industry compensation comparisons.
Assist in developing compensation benchmarks for critical and new roles.
Track market trends in salaries, allowances, incentives and benefits.
3. Rewards & Analytics
Support the development and implementation of Total Rewards initiatives.
Prepare dashboards and reports covering compensation, salary positioning, pay ranges, increments and employee cost.
Conduct analysis related to pay equity, internal parity and compensation competitiveness.
Generate meaningful insights from compensation data to support HR and business decisions.
Support HR leadership with data and analysis for compensation-related presentations and reviews.
4. Annual Compensation Processes
Support the annual increment and bonus process, including data validation and analysis.
Prepare increment and compensation planning templates.
Validate calculations and ensure data accuracy before finalisation.
Support HR Business Partners and stakeholders with compensation-related queries during the annual cycle.
Assist in preparing management reports and presentations for compensation reviews.
5. HR Data & Reporting
Maintain accurate compensation databases and reports.
Work with HRIS/HR systems to extract, validate and analyse employee compensation data.
Develop and maintain Excel-based compensation models and dashboards.
Ensure data integrity across different HR and compensation reports.
Support automation and simplification of recurring compensation reports and processes.
Education & Experience
Education:
MBA/PGDM in Human Resources / HR, or equivalent qualification.
Experience:
1–2 years of relevant experience in Compensation & Benefits, Rewards, Compensation Analytics, HR Analytics or a similar HR role.
Candidates with experience in compensation benchmarking, salary analysis, annual compensation reviews and advanced Excel will be preferred.
Key Deliverables / Success Measures
Accurate and timely compensation analysis and reports.
Quality and accuracy of salary benchmarking.
Effective support for annual increment and bonus processes.
Improved compensation data integrity and reporting.
Timely delivery of management dashboards and insights.
Identification of internal parity and market competitiveness issues.
Effective support to HRBPs and business stakeholders on compensation matters.
Ideal Candidate Profile
We are looking for a data-driven HR professional who is passionate about Compensation & Rewards, enjoys working with numbers and can translate compensation data into actionable insights. The candidate should have strong Excel and analytical capabilities, a keen eye for detail and the ability to handle sensitive compensation information with a high degree of confidentiality.
Work arrangement
No
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