What Does a Compensation Manager Do?
What does a Compensation Manager Do?Answer: More About Job Descriptions. Compensation managers conduct programs for employers and may specialize in specific areas such as position classifications or pay studies. Establishing and maintaining a firm’s pay system is the principal job of the compensation manager. Assisted by staff specialists, compensation managers devise ways to ensure fair and equitable pay rates. They may conduct surveys to see how their rates compare with others and to see that the firm’s pay scale complies with changing laws and regulations. In addition, compensation managers often oversee their firm’s performance evaluation system, and they may design reward systems such as pay-for-performance plans. *Information is reprinted from the Occupational Outlook Handbook.
