Senior Compensation Analyst

Milbank LLP; New York (NY); On-site; USD 120,000 - 140,000; Full time

Job summary

Milbank LLP in New York City is seeking a Senior Compensation Analyst to implement and audit compensation structures ensuring market competitiveness and internal equity. This role conducts market research, analyzes salary data, and designs salary structures and policies while supporting programs across the firm.

Reporting to the Director of Benefits & Compensation, the analyst will participate in merit and bonus programs, benchmark salaries for new positions, and coordinate with HR and external

Qualifications

• Bachelor's degree preferred in HR, Finance, or related field.
• Strong analytical and organizational skills; attention to detail.
• Proven ability to communicate clearly with stakeholders and manage multiple tasks.

Responsibilities

• Performs annual compensation activities.
• Ensures US pay practices comply with laws (federal, state, local).
• Administers annual compensation programs and conducts analyses.
• Leads benchmarking studies and pay equity analyses.
• Develops and enhances compensation plans and communicates changes.
• Drives compensation administration and data in Workday.
• Audits compensation data for accuracy and consistency.
• Collaborates to ensure policy/methodology consistency.
• Tracks compensation-related trends and metrics.
• Supports budget processes and recommended adjustments.

Skills

Analytical thinking

Attention to detail

Communication

Independent work

Team collaboration

Education

Bachelor's degree preferred in HR/Finance

Tools

Excel

Workday

Job description

Senior Compensation Analyst

Job Locations: US-New York City

Overview

Position Summary: The Senior Compensation Analyst is responsible for implementing the Firm's compensation structures, as well as designing and auditing the compensation structures to ensure they are competitive, equitable, and compliant with regulations. This role involves conducting market research, analyzing compensation data, and developing salary structures and policies. In addition, this role will support compensation administration and execution of the firm’s various compensation programs, helping to translate strategy to results. This role reports to the Director of Benefits & Compensation. Scope: This position includes job description evaluations, FLSA determination, base and variable pay administration, survey participation, market data analysis, annual merit, and bonus programs. The Senior Compensation Analyst provides input and recommendations for continuous improvement initiatives to ensure competitive pay scales and internal equity.

Responsibilities

• Performs annual compensation activities.
• Ensures all pay practices in the US comply with federal, state, and local laws, including emerging pay transparency and equity audit requirements.
• Administers annual compensation programs and conducts compensation analyses.
• Leads benchmarking studies, maintains compensation databases, and conducts pay equity analysis.
• Develops and enhances compensation plans, including implementation, change management, Firm's cost impact, and communication.
• Serves as lead for new rewards program and initiatives.
• Works with HR to evaluate business services roles to determine appropriate salary grades, FLSA exemption statuses, and job families.
• Works with HR to drive compensation administration and data management in Workday.
• Audits compensation data and processes to ensure accuracy and consistency.
• Collaborates with HR colleagues to drive consistency across policies and methodologies.
• Tracks and monitors compensation related trends and metrics.
• Using data-driven recommendations, partners with Human Resources to benchmark salaries for new positions, promotions, and market adjustments.
• Assists in budget processes, supports proposed compensation adjustments, and provides recommendations as appropriate.
• Manages compensation-related projects, providing training to HR staff and managers, and coordinating with internal and external stakeholders.

Qualifications

• Bachelor's degree, with an emphasis in Human Resources, Finance, or a related field is preferred.
• This position requires strong Microsoft suite skills, with a particular emphasis on Excel, and Workday experience.
• Initiative‑taker that exhibits good judgement to address or elevate as appropriate.
• Strong analytical skills, strong organizational skills, attention to detail, and the ability to communicate clearly to various stakeholders at the Firm.
• High level of discretion.
• Ability to work independently as well as collaboratively.
• Manage multiple tasks & meet deadlines in a fast-paced environment.

Compensation

The anticipated base salary range offered for this role will be between $120,000 to $140,000 and represents the firm’s good faith and reasonable estimate of the base compensation range. Actual base compensation will be dependent upon several factors, including but not limited to the candidate’s relevant experience, performance, qualifications, degrees, and location, as well as the needs of the firm.