Compensation Specialist

Equity Residential; Chicago (IL); On-site; USD 60,000 - 75,000; Full time

Benefits offered by this job

Medical, dental, and vision care

401(k) Retirement Savings Plan

Paid Community Service Hours

Job summary

A leading real estate management firm is hiring a Compensation Specialist in Chicago, Illinois. This role focuses on administering compensation and recognition programs while ensuring compliance with regulations. Ideal candidates will have 2-4 years of HR Operations experience with a strong foundation in compensation administration. They should be skilled in market research and possess advanced Microsoft Excel proficiency. The position offers a collaborative environment fostering growth and innovation.

Qualifications

• 2-4 years of experience in HR Operations, particularly in compensation.
• Familiarity with federal and state regulations related to compensation.
• Strong attention to detail and ability to manage confidential information.

Responsibilities

• Administer and coordinate compensation and recognition programs.
• Participate in salary surveys and interpret results for management.
• Develop process documentation and employee communications.

Skills

HR Operations

Compensation Administration

Market Research

Advanced Excel Functions

Interpersonal Skills

Education

Bachelor’s degree in Human Resources or related field

Tools

HRIS Systems

Microsoft Office Suite

Job description

Overview

At Equity Residential, we're dedicated to creating thriving communities, and we invite you to be part of our team. Embracing values like Diversity, Sustainability, and Total Wellbeing, we foster a workplace culture of authenticity and collaboration.

How We Deliver a Winning Performance

• Question Authority
• Walk the Talk
• Share Knowledge
• Listen, not just Hear
• See the Glass Half Full
• Take Educated Risks
• Enjoy the Ride
• Share the Spotlight
• Do the Right Thing
• Test Your Limits

Total Wellbeing

• Physical Wellbeing: Medical, dental, and vision care
• Social Wellbeing: 9 paid holidays, annual vacation time, paid sick leave, new parent benefits
• Financial Wellbeing: 401(k) Retirement Savings Plan, Rent Discounts, Competitive Compensation
• Community Wellbeing: Paid Community Service Hours
• Learn more about our Total Wellbeing program here.

What You’ll Be Doing

The Compensation Specialist is responsible for supporting the administration and coordination of the organization's compensation and recognition programs. This role ensures that all compensation processes are executed accurately, efficiently, and in compliance with applicable regulations to deliver exceptional HR services. Additionally, the individual will participate in ad-hoc HR projects and conduct market research to identify best practices, enhancing the organization's HR strategies.

• Participate in salary surveys, market analyses, and industry research to ensure competitive and equitable compensation practices. Interpret results and provide recommendations to management.
• Administer the recognition program, including processing awards and creating reports to track usage and trends.
• Develop and maintain process documentation, guidelines, and training materials. Draft clear and consistent employee communications to ensure understanding of programs, policies, and upcoming initiatives.
• Partner with HRIT and other stakeholders to support system testing, audits, and data governance activities.
• Support the annual compensation planning cycle, ensuring alignment with organizational goals.
• Assist in administering executive and employee programs such as the Employee Stock Purchase Plan (ESPP) and Supplemental Executive Retirement Plan (SERP).
• Collaborate with HR and business partners on projects such as policy development, process redesign, and new program launches.
• Participate in audits and recommend process improvements to reduce risk.
• Represents the Company in a professional manner at all times. Consistently maintains a professional, courteous attitude when dealing with residents, coworkers and the general public.
• Performs other duties as assigned.

The Company may revise this job description from time to time as business needs require. It is not intended to be an exhaustive listing of all the functions of the job, nor limit the Company’s right to assign other functions to an employee in this position. This job description does not constitute a written or implied contract of employment.

What You’ll Need to Thrive

• Bachelor’s degree in Human Resources, Business Administration, or related field, preferred.
• 2-4 years of experience in HR Operations, with a focus on compensation administration.
• Experience coordinating HR projects and conducting market research.
• Familiarity with HRIS systems and proficiency in Microsoft Office Suite, particularly Excel (including advanced functions such as VLOOKUP, pivot tables, and data analysis tools).
• Strong understanding of federal and state regulations related to compensation.
• Excellent communication and interpersonal skills.
• High level of accuracy and attention to detail.
• Ability to handle sensitive information with confidentiality and professionalism.

The successful candidate's starting pay will be determined based on job-related skills, experience, and qualifications.