Human Resources - Newark, NJ Compensation Specialist

About the position

Compensation is responsible for designing, implementing and maintaining reward plans and practices, including salary, annual incentive, long-term and other specialized incentive programs. The Market Intelligence (MI) team (within Compensation) gathers and analyzes market data to ensure executive, management and non-management pay in the US and internationally is competitive. The MI team supports the Relationship Managers within Compensation and Human Resource (HR) partners who support International.

The Compensation Specialist will work as part of the MI team. This position is responsible for analyzing compensation data (including the annual review of market data and development of internal market reference ranges), participating in salary surveys and demonstrating knowledge of key compensation areas: market analyses, salary administration, and incentive plan design. The role also provides compensation consulting services and annual compensation process support to International HR partners primarily in Latin America and Asia.

Responsibilities:

  • Provides compensation consulting services: job evaluation/hierarchies, market pricing, and interpretation and application of compensation policy
  • For the countries supported, works with in-country HR partners:
    • On benchmarking issues, new roles/job creation, etc.
    • To deliver the annual compensation process  
  • Participates in the enterprise salary survey process including updating and insuring accuracy of data within the system of record; accountable for salary survey process for the international countries supported
  • Conducts the year-end review to ensure pay is in line with market, analyze market data to recommend movement, work with clients to validate market movement, and identify any special business needs
  • Provide reporting and analysis (working with complex data sets, model development) using data warehouse
  • May lead or participate in special project teams in support of various compensation initiatives

Qualifications

  • Bachelor’s degree required; advanced degree preferred
  • 3+ years of compensation experience including market survey analysis and survey participation. Financial services industry experience is a plus
  • Advanced knowledge of Microsoft Excel and office software required to complete analyses as well as a working knowledge of Microsoft Access. Willis Towers Watson Reward and Cognos experience is a plus
  • Superior analytical skills required:
  • Detail oriented, analytical self-starter with a motivation to expand knowledge, skills and responsibility

  • Utilizes reasoning ability to define problems, collect data, establish facts and draw conclusions

  • Experience in model development is a plus

  • Strong communication skills (both verbal and written):
  • Ability to present and clearly explain information to non-technical audiences and leadership

  • Concisely articulate the inferences (story) from the data analyses

  • Proven ability to form strong partnerships and influence key stakeholders (international contacts, internal peers and clients)
  • Ability to manage and prioritize work/projects; take an active role in problem solving/decision making; uses judgement to escalate issues to leadership, as appropriate
  • Ability to meet deadlines and work both independently and as a team member
  • Strength in thinking outside of the box and bringing ideas forward to the team
  • Potential international travel; off-hour conference calls required
  • International compensation experience/international experience is a plus
  • Excellent work ethic and self-motivated with the ability to manage changing priorities
  • Must demonstrate strong project management skills

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

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