Senior Compensation Analyst: Market-Driven Pay Analytics

CVS Health; Woonsocket (RI); On-site; USD 47,000 - 112,000; Full time

Job summary

CVS Health is seeking a Senior Compensation Analyst to drive market-informed pay decisions. You will collaborate with HR partners to price jobs, evaluate equity, and support annual salary programs.

You will build and automate compensation reports using Workday and other tools, deliver insights to leadership, and ensure governance across compensation initiatives. A strong Excel skill set and 3+ years in compensation are required.

Qualifications

• 3+ years of progressive experience in HR, with a focus on compensation or total rewards.
• Experience leveraging HR, compensation, and workforce data to drive insights and recommendations.
• Strong analytical, reporting, and data modeling skills with the ability to work with large datasets.
• Experience developing reports, dashboards, and visualizations to support business decision-making.
• Advanced Excel skills, including modeling, pivot tables, lookups, and data validation.

Responsibilities

• Conduct market pricing, peer cuts and benchmarking using multiple survey and data sources.
• Analyze survey data, apply geographic differentials, and recommend competitive pay ranges and structures.
• Support annual merit, bonus, and off-cycle salary review processes, including data preparation, modeling, budget tracking, and quality checks.
• Review pay actions for adherence to compensation guidelines, internal equity, and range placement.
• Develop reports, models, presentations, and workforce insights to support decision-making.

Skills

Analytical thinking

Excel modeling

Data analysis

Communication

Education

Bachelor’s degree in HR/Business/Finance/Economics/Statistics

Tools

Workday

Payfactors

MarketPay

Tableau/Power BI

Job description

CVS Health is seeking a Senior Compensation Analyst to drive market-informed pay decisions. You will collaborate with HR partners to price jobs, evaluate equity, and support annual salary programs.

You will build and automate compensation reports using Workday and other tools, deliver insights to leadership, and ensure governance across compensation initiatives. A strong Excel skill set and 3+ years in compensation are required.