Compensation Consultant

U.S. Bank; Minneapolis (MN); On-site; USD 120,000 - 141,000; Full time

Benefits offered by this job

Healthcare

401(k)

Paid vacation

Holiday opportunities

Job summary

U.S. Bank is seeking a seasoned compensation consultant to lead incentive design, job evaluations and market pricing discussions across HRBPs and LOB managers. You will create guidance tools, influence compensation policies, and advise on complex employment issues including FLSA interpretations.

Your expertise will help ensure equitable pay practices, compliance with regulations, and scalable compensation processes across the organization, supporting a diverse workforce and strategic growth.

Qualifications

• Bachelor's degree or equivalent work experience required.
• 10+ years of related compensation program or relevant experience preferred.
• Strong knowledge of HR policies for the assigned area.
• Advanced knowledge of government regulations (e.g., FLSA).
• Excellent interpersonal, written and verbal communication skills.

Responsibilities

• Design and redesign incentive plans.
• Perform job evaluations including salary grade guideline models.
• Create compensation guidance tools.
• Advise HRBPs and LOB managers on compensation policies and practices.
• Provide guidance on employment issues (e.g., FLSA) and related wage and hour matters.

Skills

Analytical skills

Communication skills

Problem-solving

Facilitation

HR policies knowledge

Education

Bachelor's degree, or equivalent work experience

Tools

MS Office

Job description

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

Consultants manage the relationship with their assigned HR Business Partner (HRBP) groups and Line of Business (LOB) managers. These jobs are responsible for: designing/redesigning incentive plans, job evaluations including salary grade guideline models, creating compensation guidance tools, advising HRBPs and LOB managers on Company compensation policies and practices, and providing guidance on employment issues (e.g., FLSA and other wage and hour issues). Consultants may design/deliver compensation training, work with the LOBs & HRBPs on reorganizations, job design/redesign, job evaluation/market pricing, exemption status determination, etc.

Basic Qualifications

• Bachelor's degree, or equivalent work experience
• 10 or more years of related compensation program or relevant experience

Preferred Skills/Experience

• Considerable knowledge of Human Resources policies for the assigned area
• Advanced knowledge of government regulations which apply to the compensation area (e.g., FLSA)
• Advanced knowledge of Human Resources competencies
• Ability to develop business literacy and credibility to help business line(s) proactively identify and address changing workforce needs
• Strong process facilitation, analytical and problem-solving skills
• Proficient computer skills, especially word processing, spreadsheets, databases, and presentations
• Excellent interpersonal, written and verbal communication skills

Location Expectations: This role will require three (3)+ days per week onsite at one of the listed U.S. Bank hub locations.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $119,765.00 - $140,900.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.