Strategic Compensation Partner

Northern Trust; Chicago (IL); On-site; USD 137,000 - 240,000; Full time

Job summary

Northern Trust is seeking a Compensation Business Partner to serve as a strategic advisor to business leaders and HR partners, shaping compensation decisions that attract, retain, and motivate top talent while supporting objectives. You will translate philosophy into practical pay solutions and govern across complex talent matters.

In this role you will partner with leaders to deliver insights, conduct market pricing, job evaluations, and pay equity reviews, and support annual compensation

Qualifications

• Bachelor's degree in HR, Finance, or a related field; CCP certification or advanced degree preferred.
• Minimum 7 years of progressive compensation experience, including significant client-facing or consulting responsibilities.
• Ability to influence and partner with senior leaders, HR teams, and cross-functional stakeholders.
• Strong executive communication, stakeholder management, and influence skills.
• Proficiency in Excel and HRIS/compensation systems (Workday).

Responsibilities

• Serve as a trusted compensation advisor to business leaders and HR partners, translating corporate compensation philosophy, programs, and governance requirements into practical solutions that support business objectives.
• Consult with leaders on compensation decisions including offers, promotions, internal mobility, retention actions, and organizational changes, balancing business needs with market competitiveness, internal equity, and corporate guidelines.
• Partner with business and HR stakeholders to navigate competing priorities, identifying when standard compensation programs appropriately address business needs and when unique business circumstances warrant consideration of alternative approaches supported by a clear business rationale.
• Influence and guide compensation-related decisions through data-driven insights and effective communication, helping leaders understand trade-offs, risks, and implications of various compensation strategies.
• Conduct job evaluations, market pricing, pay equity reviews, and competitive assessments to develop fair, market-aligned, and internally consistent compensation recommendations.
• Collaborate with HR Business Partners and business leaders on workforce planning, talent strategies, and organizational initiatives, providing compensation expertise to support talent attraction, retention, and engagement.
• Analyze market trends and participate in compensation survey submissions, translating external data into actionable insights and recommendations for leadership.
• Support enterprise compensation programs and annual compensation cycles, including salary structure reviews, merit planning, incentive programs, and governance processes.
• Contribute to the design, evaluation, and modeling of compensation and incentive programs, ensuring alignment with business objectives, talent strategies, and corporate compensation philosophy.
• Interpret and apply compensation policies and governance requirements, while exercising sound judgment to address complex business situations in a consistent and compliant manner.
• Develop and deliver compensation education, presentations, and training, translating complex compensation concepts into clear, actionable guidance for HR and business audiences.
• Build strong relationships across the organization, serving as a credible consultant who can effectively influence stakeholders, manage challenging conversations, and drive alignment between business objectives and compensation strategy.

Skills

Executive communication

Analytical thinking

Influence & stakeholder management

Excel proficiency

Data-driven decision making

Education

Bachelor's degree in HR, Finance, or Business

CCP certification or advanced degree preferred

Tools

Excel

Workday HRIS

Job description

Northern Trust is seeking a Compensation Business Partner to serve as a strategic advisor to business leaders and HR partners, shaping compensation decisions that attract, retain, and motivate top talent while supporting objectives. You will translate philosophy into practical pay solutions and govern across complex talent matters.

In this role you will partner with leaders to deliver insights, conduct market pricing, job evaluations, and pay equity reviews, and support annual compensation