Sr Analyst Compensation
CVS Health
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Job summary
CVS Health in Woonsocket, Rhode Island is seeking a Senior Compensation Analyst to provide market-informed compensation recommendations, pricing studies, and governance support. You will partner with HR and business leaders to deliver data-driven pay decisions using systems like Workday and Market Pay.
The role emphasizes identifying equity, leading data analyses, and producing executive-ready reports. A strong foundation in compensation analytics and proficiency with advanced Excel are
Qualifications
- 3+ years of progressive HR compensation experience.
- 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, benchmarking using multiple survey sources.
- Analyze survey data, apply geographic differentials, and recommend pay ranges and structures.
- Support annual merit, bonus, and off-cycle salary review processes.
- Review pay actions for alignment with compensation guidelines and equity.
- Develop executive-ready summaries and visualizations for leaders.
- Provide routine compensation guidance to HR Partners.
Skills
Education
Tools
Job description
We're building a world of health around every individual - shaping a more connected, convenient and compassionate health experience. At CVS Health®, you'll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger - helping to simplify health care one person, one family and one community at a time.
The Senior Compensation Analyst is an experienced professional individual contributor that provides consultation, and analytical, project, & operational support to the Compensation team. This role partners with HR and business leader to deliver market informed compensation recommendations, conducts market pricing and salary studies, supports annual salary review cycles and compensation governance, performs job evaluations, and produces data-driven reports that inform pay decisions. The ideal candidate will operate with general supervision and exercises independent judgement within guidelines, combines strong analytical capabilities with experience utilizing compensation and HR systems to deliver market-driven recommendations, support compensation decision-making, and ensure alignment with organizational pay practices.
- Conduct market pricing, peer cuts and benchmarking using multiple survey and data sources.
- Analyze and age survey data, apply geographic differentials, and recommend competitive pay ranges and structures.
- Support the annual merit, bonus, and off-cycle salary review processes, including data preparation, modeling, budget tracking, and quality checks.
- Review pay actions (hires, promotions, transfers, and adjustments) for adherence to compensation guidelines, internal equity, and range placement.
- Evaluate internal equity, pay positioning, and compensation-related trends
- Support compensation governance by maintaining policies, pay action / job catalog, guidelines, approval workflows, and audit-ready documentation.
- Provide routine compensation guidance to HR Business Partners.
- Build, maintain, and automate recurring and ad hoc compensation reports using Market Pay, Workday, compensation software, and human capital analytics tools.
- Develop reports, models, presentations, and workforce insights to support decision-making.
- Analyze workforce and pay data to identify trends, outliers, compression, and equity concerns, and translate findings into clear recommendations.
- Perform data validation and integrity checks across HRIS and compensation systems.
- Prepare executive-ready summaries and visualizations for the Director, Senior Managers, HR Business Partners, and business leaders.
- Respond to data requests with accuracy, timeliness, and appropriate confidentiality.
- Assist with job evaluations for new and changed positions using the organization's job leveling and evaluation methodology.
- Review job descriptions for accuracy and consistency and partner with HR Business Partners and Compensation team to gather information.
- Recommend job levels, grades and market matches, and document the rationale.
- Support leveling and calibration discussions to promote internal equity and consistency.
- Manage project timelines, deliverables, and stakeholder communications for assigned work.
- Draft documentation, process guides, and presentation materials to support project rollout.
- Identify opportunities to streamline processes and improve consistency across compensation programs.
- 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.
- Ability to optimize technology solutions that support compensation administration, analytics, and reporting.
- Strong problem-solving, critical thinking, and attention to detail.
- Advanced Excel skills, including modeling, pivot tables, lookups, and data validation.
- Certified Compensation Professional (CCP) or progress toward certification.
- Experience with Workday (HCM and/or Compensation), including reporting and data extraction.
- Experience using compensation survey and market pricing tools, such as Payfactors, MarketPay, ERI, and WIN.
- Familiarity with compensation administration and human capital analytics platforms, including WTW and Aon solutions.
- Experience with data visualization tools such as Tableau, Power BI, or similar platformsExperience supporting annual compensation cycles in a large or complex organization.
- Analytical thinking: Turns complex data into clear, actionable insights.
- Problem solving: Identifies issues, evaluates alternatives and recommends practical solutions
- Communication & Influence: Translates analyses into concise business recommendations
- Collaboration: Works effectively with multiple senior stakeholders and cross-functional teams.
- Prioritization: Manages competing requests and deadlines with composure.
- Integrity: Handles sensitive compensation data with discretion and professionalism.
- Continuous improvement: Looks for ways to improve processes, accuracy, and efficiency.
- Bachelor's degree in human resources, Business, Finance, Economics, Statistics, or a related field (or 4 years equivalent experience).
40
Full time
The typical pay range for this role is:
$46,988.00 - $112,200.00
This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above.
Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.
We take pride in offering a comprehensive and competitive mix of pay and benefits that reflects our commitment to our colleagues and their families.
This full‑time position is eligible for a comprehensive benefits package designed to support the physical, emotional, and financial well‑being of colleagues and their families. The benefits for this position include medical, dental, and vision coverage, paid time off, retirement savings options, wellness programs, and other resources, based on eligibility.
Additional details about available benefits are provided during the application process and on Benefits Moments.
We anticipate the application window for this opening will close on: 11/03/2026
Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state and local laws.
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