Sr Analyst Compensation
CVS Health · Woonsocket · $46,988–$112,200 (stated in the posting)
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.
Position Summary
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.
Key Responsibilities
Market Studies, Salary Reviews, and Governance
- 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.•
Data Analysis and Reporting
- 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.•
Job Evaluations
- 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.•
Compensation Projects
- 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.
Required Qualifications
- 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.
Preferred Qualifications
- 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
Core Competencies
- 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.
Education
- Bachelor’s degree in human resources, Business, Finance, Economics, Statistics, or a related field (or equivalent experience).
Anticipated Weekly Hours
40Time Type
Full timePay Range
The typical pay range for this role is:
$46,988.00 - $112,200.00This 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.
Great benefits for great people
We take pride in offering a comprehensive and competitive mix of pay and benefits that reflects our commitment to our colleagues and their families.
Additional details about available benefits are provided during the application process and on Benefits Moments.
Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state and local laws.