Compensation Consultant

Mindlance; Woodcliff Lake (NJ); On-site; USD 80,000 - 100,000; Full time

Job summary

A national recruiting firm seeks a Compensation Specialist in Woodcliff Lake, NJ. The ideal candidate will have over 5 years of experience in compensation administration, particularly within the pharmaceutical industry. Responsibilities include salary offer approvals, market analysis, and job evaluations. Advanced Excel skills and a Bachelor's degree are essential, with an advanced degree preferred. This is a full-time or part-time position with competitive compensation.

Qualifications

• 5+ years of experience in compensation administration, preferably in the pharmaceutical sector.
• Strong Excel skills, including vlookups, pivot tables, and complex formulas.
• Bachelor's degree is required, with an advanced degree preferred.

Responsibilities

• Review and approve salary offers for external candidates.
• Compile and prepare data for labor market surveys.
• Analyze and prepare recommendations for merit budgets.
• Evaluate job descriptions and determine salary bands.
• Conduct competitive market analyses for salary competitiveness.
• Participate in special departmental projects.

Skills

Excel skills (vlookups, pivot tables, formulas)

Compensation experience

Education

Bachelor's degree

Advanced Degree

Job description

Mindlance is a national recruiting company which partners with many of the leading employers across the country. Feel free to check us out at http://www.mindlance.com.

Job Description

• 1. Compensation Administration: Reviews and approves salary offers prepared by Staffing for external candidates. Develops recommendations for internal promotions for assigned client groups, focusing on external competitiveness and internal equity. Responds to requests from HR Business Partners, line managers and employees regarding any aspect of Client's compensation program.
• 2. Salary Surveys: Compiles and prepares data for participation in labor market surveys for industry comparisons and geographic markets. Meets with line managers in assigned client groups, as needed, to ensure valid benchmarking of jobs. Analyzes data when received from 3rd party vendors to report to management on the competitiveness of our salaries. Participates in industry roundtable benchmarking meetings to ensure accuracy of benchmarking and to gather data on emerging industry trends.
• 3. Total compensation planning: Analyzes data from a variety of sources to independently prepare the recommendation to management for merit budgets in the US and LATCAN. Performs a variety of data audits and analyses to ensure accuracy of data to begin the compensation planning process. Maintains database for compensation-related files including MRGs, incentive plan participation, OT earnings, etc. Provides consultative support for managers and HR Business Partners throughout the planning process. Prepares communication materials for TCP.
• 4. Job Evaluation: Analyzes job descriptions received from line managers. Meets with managers to better understand duties, responsibility, scope and impact. Evaluates positions and determines salary band.
• 5. Competitive market analysis: Independently conducts annual analysis to determine the competitiveness of base salary, bonus and long-term incentive opportunity of Client employees compared to their pharmaceutical and biotechnology industry peers for all US based positions in Client. Identifies gaps and makes recommendations to management within assigned client groups. Prepares reports for review with Executive Management.
• 6. Special Projects: Represents assigned client groups in all other departmental projects including compliance reviews, incentive plan design discussions, acquisitions/divestitures, etc.

5+ years of compensation experience.

Qualifications

• pharmaceutical experience preferred.
• very strong excel skills - including vlookups, pivot tables, formulas.
• Bachelors required. Advanced Degree preferred.
• Open to Full time 40 hours or part time 30 hours.