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Compensation Analyst
Career Insights for Compensation / Benefits Analyst
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Scorecard
Based on Tennessee data
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What they do
A Compensation or Benefits Analyst evaluates and works to maintain the pay structure and benefits program at an organization. Analyzes wage and salary data and trends, monitors market conditions; works with benefits vendors, processes benefit claims for employees; monitors government employment regulations. May focus specifically on job classifications and compensation or on benefits programs such as pensions.
$87,221 / year median in Tennessee
+11% projected growth
Job Description
Responsibilities:
- Manage recurring commission and incentive payment cycles by validating input data, running calculations, reconciling results, and preparing files for payroll submission.
- Interpret compensation plans and payout rules to determine proper handling of transactions, exceptions, and employee payment outcomes.
- Maintain critical compensation records such as participant eligibility, plan assignments, rates, targets, thresholds, and reporting relationships.
- Review information from sales, payroll, ticketing, and related systems to identify incomplete, inconsistent, or inaccurate data that may affect payments.
- Conduct pre-payment and post-payment audits, reconciliations, and quality checks to confirm results are accurate, approved, and payroll-ready.
- Investigate discrepancies, unusual results, and employee questions by identifying root causes and determining appropriate corrective action.
- Process approved payment updates, including adjustments, reversals, and corrections, while preserving supporting documentation for audit purposes.
- Partner with internal stakeholders to resolve data, system, calculation, and payment issues, and contribute to enhancements, testing, and process improvement efforts.
- Track recurring issues, control weaknesses, and data-quality concerns, then recommend solutions that strengthen accuracy and operational effectiveness.
- Organize procedures, approvals, reconciliation materials, and case records to maintain a clear and complete audit trail. Requirements
- Experience in compensation analysis with strong exposure to commission and incentive pay administration.
- Knowledge of compensation plans, benchmarking practices, annual compensation processes, and broader compensation and benefits concepts.
- Ability to analyze large data sets, identify discrepancies, and perform accurate reconciliations in a deadline-driven environment.
- Proficiency working with HCM platforms and related source systems used for payroll, sales, or compensation data.
- Strong understanding of commission statements, payment calculations, and compensation-related controls and documentation.
- Excellent problem-solving skills with the ability to investigate exceptions and communicate resolutions clearly to stakeholders.
- Strong organizational skills with the ability to manage multiple priorities and maintain high attention to detail.
- Effective collaboration and communication skills for working with employees, business partners, and cross-functional teams.
Benefits
- 401(k) Plans
- Health Insurance
- Dental Insurance
- Vision Insurance