What are the responsibilities and job description for the Compensation Analyst position at Murray State University?
Summary Of Job Duties And Responsibilities
The Compensation Analyst supports the design, implementation, and administration of compensation programs and projects within the University. This role assists with salary benchmarking, job audits, position placement, and compensation data analysis to ensure competitive and equitable pay practices aligned with organizational policies and market trends. This role is responsible for completing salary surveys, ensuring the integrity of compensation data, documenting processes and protocols, and serving as a key project member on compensation projects.
The Compensation Analyst supports the design, implementation, and administration of compensation programs and projects within the University. This role assists with salary benchmarking, job audits, position placement, and compensation data analysis to ensure competitive and equitable pay practices aligned with organizational policies and market trends. This role is responsible for completing salary surveys, ensuring the integrity of compensation data, documenting processes and protocols, and serving as a key project member on compensation projects.
- Conduct Human Resource analytics, data analysis and interpretation of trends to support proactive planning related to faculty and staff compensation.
- Analyze data and relevant market trends, assist with the regular review of established faculty pay plans and staff grade structures, and provide market analysis and recommendations.
- Work closely with the Director of Human Resources and the Associate Director of Human Resources regarding the development, implementation and administration of compensation programs.
- Responsible for completing annual institutional CUPA HR employment and compensation surveys, and other related compensation surveys on the University’s behalf.
- Analyze data from survey sources to determine competitiveness both internally and externally.
- Examine job audit questionnaires in order to determine proper classification, FLSA exempt/non-exempt status, staff grade, as well as to ensure consistency of position classification and compensation for all positions across campus.
- Enhance knowledge of market relativity through wage surveys, job pricing and benchmarking, market analysis and analyzing internal data.
- Analyze data and assist with presentation to stakeholders.
- Ensure compliance with University policies and procedures, as well as all applicable federal and state wage regulations.
- Assist the Associate Director of Human Resources and the Director of Human Resources in administering and communicating the compensation strategy and philosophy to administrators, faculty and staff across campus.
- Responsible for developing the biennial salary roster for Board of Regents approval, including monitoring and reporting any compensation paid for faculty and staff that is in addition to the regular budgeted salary.
- Respond to inquiries related to compensation policies and procedures.
- Maintain confidentiality of sensitive employee compensation information.
- Other duties as assigned.