Compensation Analyst — Data-Driven Pay & Incentives

Munich Re Group; Hartford (CT); On-site; USD 100,000 - 150,000; Full time

Benefits offered by this job

Health insurance

401k match

Paid time off (PTO)

Tuition assistance

Life and disability insurance

Job summary

Munich Re Group is seeking a Compensation Analyst on the HR team tasked with administering and analyzing compensation programs, collaborating with HR Partners and managers, and leading defined processes within established frameworks.

The role involves market data, job evaluations, and providing compensation recommendations to ensure alignment with budgets and policy guidance. Strong analytical skills and HRIS experience are required.

Qualifications

• Bachelor's degree in HR, business, finance, or related field.
• 5+ years of experience in compensation analysis or related field.
• Experience managing compensation processes or projects within established frameworks.
• Strong Excel and data analysis skills.
• Knowledge of compensation principles, practices, and regulations.
• Experience with HRIS and compensation software (e.g., SuccessFactors, SAP, or similar).
• Experience with CompAnalyst, MarketPay or similar survey data base preferred.
• Excellent communication and interpersonal skills, with the ability to collaborate with stakeholders at all levels.
• Detail-oriented with a commitment to confidentiality.

Responsibilities

• Administer and independently manage assigned recurring compensation programs and processes.
• Participate in evaluating and classifying positions based on job content, market data, and organizational structure.
• Work with HR Business Partners, Talent Acquisition and hiring managers to review job descriptions and levels.
• Build relationships with stakeholders to understand needs and address compensation concerns.
• Participate in administration of base pay, variable pay, and incentive plans; provide guidance on salary adjustments.
• Maintain accurate compensation data in HRIS; generate reports and present findings to management.
• Collect, evaluate, and interpret compensation data from internal and external sources; conduct market research and surveys.
• Identify opportunities to streamline processes and drive continuous improvement.
• Partner with finance to develop annual compensation budgets and forecasts.
• Monitor compliance with FLSA and Equal Pay Act; participate in governance processes.
• Participate in regional/global compensation projects and lead defined workstreams.

Skills

Compensation analysis

Excel

Data analysis

HRIS

Education

Bachelor's degree in HR/Business/Finance

Tools

SuccessFactors

SAP

MarketPay

CompAnalyst

Job description

Munich Re Group is seeking a Compensation Analyst on the HR team tasked with administering and analyzing compensation programs, collaborating with HR Partners and managers, and leading defined processes within established frameworks.

The role involves market data, job evaluations, and providing compensation recommendations to ensure alignment with budgets and policy guidance. Strong analytical skills and HRIS experience are required.