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Compensation Specialist
Job Summary
Responsible for overseeing and administering employee compensation programs. Establishes a company's pay structure, approves bonuses and commissions, and administers executive compensation programs.
Primary Responsibilities
- Administer compensation programs.
- Develop and maintain a company's pay structure.
- Compare pay structure to competitors.
- Perform compensation analysis to determine if salaries are on par with national average.
- Approve bonuses or commissions.
- Collect and examine detailed information about job duties.
- Approve salaries.
- Prepare job descriptions.
- Ensure pay scale is fair and equal.
- Research complaints about pay discrimination.
- Research inquiries into salary discrepancies.
- Oversee performance management system.
- Ensure the firm's pay scale complies with changing laws and regulations.
- Purchase and analyze salary surveys.
- Design reward systems.
- Set merit pay guidelines and bonus pay criteria.
- Administer executive compensation programs.
- Determine commission rates for corporate sales staffs.
- Approve salary for new job openings.