Compensation Manager

Salary $125,000 - $135,000 base salary + incentives
LocationPhiladelphia
Employment type Permanent
Discipline
Workday

Job description

Job Overview: As the Compensation Manager, you will be responsible for developing, implementing, and managing our firm-wide compensation programs and initiatives. You will work closely with senior leadership, HR professionals, and other stakeholders to ensure that our compensation strategies align with our business objectives and support the attraction, retention, and motivation of top talent.

Key Responsibilities:

  1. Compensation Strategy Development: Collaborate with senior leadership to develop and refine compensation strategies that support the firm's overall goals and objectives.
  2. Compensation Planning and Analysis: Lead the annual compensation planning process, including budgeting, benchmarking, and analysis of market trends to ensure competitive and equitable compensation practices.
  3. Job Evaluation and Benchmarking: Conduct job evaluations and benchmarking studies to ensure that our compensation programs are aligned with market standards and reflect the value of each role within the organization.
  4. Compensation Program Design: Design and implement compensation programs, including base pay, incentives, bonuses, and other rewards, to attract, retain, and motivate top talent.
  5. Performance Management Integration: Partner with the HR team to integrate compensation with performance management processes, ensuring that pay decisions are tied to individual and organizational performance.
  6. Compliance and Governance: Ensure compliance with legal and regulatory requirements related to compensation practices, including fair labor standards and equal pay regulations.
  7. Communication and Education: Develop communication strategies to educate employees and managers about our compensation programs, ensuring transparency and understanding.
  8. Vendor Management: Oversee relationships with external vendors, such as compensation consultants and survey providers, to obtain relevant market data and support decision-making.
  9. Continuous Improvement: Continuously monitor and evaluate the effectiveness of our compensation programs, identifying areas for improvement and implementing enhancements as needed.
  10. Special Projects: Lead special compensation-related projects as assigned by senior management, such as mergers and acquisitions, restructuring initiatives, or system implementations.

Qualifications:

  • Bachelor's degree in Human Resources, Business Administration, Finance, or a related field; advanced degree or professional certification (e.g., CCP) is preferred.
  • Minimum of 6 years of experience in compensation management, preferably in a professional services or legal environment.
  • Strong understanding of compensation principles, practices, and trends, with a focus on global markets.
  • Excellent analytical skills, with the ability to interpret data, identify insights, and make data-driven recommendations.
  • Exceptional communication and interpersonal skills, with the ability to effectively collaborate with stakeholders at all levels of the organization.
  • Demonstrated project management experience, with the ability to prioritize and manage multiple initiatives simultaneously.
  • High level of integrity, professionalism, and confidentiality.