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Compensation Analyst Jobs in Chicago, IL (NOW HIRING)

The Equus Group

Senior Compensation Analyst

Chicago, IL · On-site

$85K - $111K/yr

This is an opportunity to take ownership of the compensation function within a highly analytical, fast-paced financial services environment, with significant exposure to Finance and senior leadership.

Medline

Sr Sales Compensation Analyst

Northfield, IL · On-site

$85 - $128/hr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department.* Train team members to maintain the integrity of key source documents ...

Medline

Senior Sales Compensation Analyst

Northfield, IL · On-site

$85K - $128K/yr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department. Train team members to maintain the integrity of key source documents ...

Medline

Sr Sales Compensation Analyst

Northfield, IL · On-site

$85K - $128K/yr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department. * Train team members to maintain the integrity of key source documents ...

Medline

Sr Sales Compensation Analyst

Northfield, IL · On-site

$85K - $128K/yr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department. * Train team members to maintain the integrity of key source documents ...

Medline

Senior Sales Compensation Analyst

Northfield, IL · On-site

$85K - $128K/yr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department. * Train team members to maintain the integrity of key source documents ...

Medline

Senior Sales Compensation Analyst

Northfield, IL · On-site

$85K - $128K/yr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department. * Train team members to maintain the integrity of key source documents ...

Medline

Sr Sales Compensation Analyst

Northfield, IL · On-site

$85K - $128K/yr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department. * Train team members to maintain the integrity of key source documents ...

Medline

Sr Sales Compensation Analyst

Northfield, IL · On-site

$85K - $128K/yr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department. Train team members to maintain the integrity of key source documents ...

Medline

Senior Sales Compensation Analyst

Northfield, IL · On-site

$85K - $128K/yr

Build understanding, analyze and evaluate the impact of the results within the parameters of the Sales Compensation department. * Train team members to maintain the integrity of key source documents ...

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All JobsCompensation Analyst JobsCompensation Analyst Jobs in Chicago, IL

Compensation Analyst information

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How much do compensation analyst jobs pay per hour?

As of Sep 5, 2026, the average hourly pay for compensation analyst in Chicago, IL is $40.17, according to ZipRecruiter salary data. Most workers in this role earn between $32.21 and $45.58 per hour, depending on experience, location, and employer.

What is a compensation analyst?

Compensation Analysts are human resources professionals who research, analyze, and develop an organization's pay structures and compensation programs. They ensure that salaries, bonuses, and benefits are competitive and comply with legal standards. Their work involves conducting market salary surveys, evaluating job positions, and making recommendations to attract and retain employees. Compensation Analysts play a critical role in balancing organizational goals with employee satisfaction.

What does a compensation analyst do?

A compensation analyst works in Human Resources focusing on the analysis of employee salaries and benefits to ensure both are fair. The compensation analyst looks at each role and performs an analysis of similar positions both inside and outside of the company to determine the amount of pay a candidate should receive for their work. They provide the figures to upper management to budget for a new employee or plan their financial goals for the year. Their duties include meeting federal guidelines for worker’s compensation, building pay structures for their employer, and reviewing existing salaries.

What are the key skills and qualifications needed to thrive as a compensation analyst, and why are they important?

To thrive as a Compensation Analyst, you need strong analytical skills, attention to detail, and a solid understanding of compensation principles, often supported by a degree in human resources, finance, or a related field. Familiarity with HRIS systems, advanced Excel functions, and compensation management software like PayScale or MarketPay is typically required. Exceptional communication, problem-solving abilities, and discretion with sensitive data are important soft skills that set top performers apart. These skills and qualities are crucial for ensuring fair, competitive, and legally compliant compensation practices that attract and retain talent.

What are some typical challenges compensation analysts face when ensuring pay equity across an organization?

Compensation Analysts often encounter challenges such as navigating complex pay structures, managing large volumes of sensitive salary data, and staying current with evolving regulations on pay equity. They must balance internal fairness with external market competitiveness while addressing potential discrepancies in pay based on job roles, experience, and location. Additionally, collaborating with HR, finance, and leadership teams to implement equitable compensation strategies requires strong communication and data analysis skills.

What is the difference between Compensation Analyst vs Benefits Analyst?

AspectCompensation AnalystBenefits Analyst
Required CredentialsBachelor's degree in HR, Business, or related field; certifications like CCP or CBPBachelor's degree in HR, Business, or related field; certifications like CBP or CEBS
Work EnvironmentCorporate HR departments, consulting firms, or government agenciesCorporate HR teams, insurance companies, or government agencies
Employer & Industry UsageUsed across industries to develop compensation structuresUsed to manage employee benefits programs and compliance
Comparison FocusAnalyzing salary data, pay structures, and market trendsManaging health, retirement, and other employee benefits

While both roles are vital in HR, Compensation Analysts focus on salary structures and pay equity, whereas Benefits Analysts specialize in employee benefits programs. Both roles often collaborate but serve distinct functions within organizations.

Is a compensation analyst a good career?

A compensation analyst is a valuable role responsible for analyzing salary structures, benefits, and pay practices within organizations. It requires strong analytical skills, knowledge of compensation laws, and proficiency with data tools like Excel or HRIS systems. The career offers growth opportunities in HR and compensation management, with a stable job outlook in many industries.
More about Compensation Analyst jobs

What are the most commonly searched types of Compensation Analyst jobs in Chicago, IL?

The most popular types of Compensation Analyst jobs in Chicago, IL are:

What are popular job titles related to Compensation Analyst jobs in Chicago, IL?

For Compensation Analyst jobs in Chicago, IL, the most frequently searched job titles are:

What job categories do people searching Compensation Analyst jobs in Chicago, IL look for?

The top searched job categories for Compensation Analyst jobs in Chicago, IL are:

What cities near Chicago, IL are hiring for Compensation Analyst jobs?

Cities near Chicago, IL with the most Compensation Analyst job openings:

Compensation Analyst jobs near you
Infographic showing various Compensation Analyst job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 77% Full Time, 18% Part Time, and 4% Contract. Highlights an 90% Physical, 2% Hybrid, and 8% Remote job distribution, with an average salary of $83,560 per year, or $40.2 per hour.

Senior Compensation Analyst

The Equus Group

Chicago, IL • On-site

$85K - $111K/yr

Other

Retirement

Posted 5 days ago

Job description

About the Opportunity

We are partnering with our client, a leading trading firm, on the search for a Senior Compensation Analyst to join their team in Chicago. This is an opportunity to take ownership of the compensation function within a highly analytical, fast-paced financial services environment, with significant exposure to Finance and senior leadership.


The Senior Compensation Specialist will oversee the compensation process from end to end, including the annual compensation cycle, market benchmarking, compensation programs, and reporting. This individual will also partner closely with Finance on bonus pool modeling and scenario analysis, with the opportunity to take on increasing ownership of financial analysis over time.


What You'll Do

  • Own the execution of the annual compensation cycle, including compensation statements, tracking, and coordination across HCM, Finance, and business leadership
  • Manage market pricing and benchmarking efforts to support competitive compensation decisions for new hires and internal moves
  • Lead participation in compensation surveys and maintain compensation benchmarking data
  • Partner with Finance on bonus pool modeling, financial modeling, and scenario analysis
  • Develop compensation reporting and insights to support HCM and business leaders in decision-making
  • Conduct pay equity analysis across roles and responsibilities
  • Partner with HCM Practice Leaders on separation packages and related compensation matters
  • Manage additional compensation programs, including 401(k), deferred compensation, and long-term incentive awards
  • Partner with firm leaders to help managers and employees understand the firm's compensation philosophy and how it is applied
  • Identify and implement process, technology, automation, and AI enhancements to improve and scale the compensation function
  • Support broader HCM analytics and reporting initiatives as needed
  • Take on increasing ownership of bonus pool sizing and financial analysis as expertise and experience grow


What We're Looking For

  • 5+ years of experience in compensation, HR analytics, FP&A, business management, or a related analytical function
  • Financial services experience strongly preferred, particularly within trading, hedge funds, private equity, investment banking, asset management, or similar environments
  • Experience working with compensation benchmarking and market data
  • Strong financial modeling and scenario analysis skills with advanced Excel proficiency
  • Comfortable partnering with senior leadership and navigating a fast-paced, high-performance environment
  • Proven ability to own processes end to end and deliver under tight timelines
  • Strong analytical and problem-solving skills with exceptional attention to detail
  • High level of discretion when handling confidential compensation information
  • Strong communication and relationship-building skills
  • A track record of improving processes and building more efficient, scalable solutions
  • Genuine interest in leveraging AI and automation to improve processes; prior experience is a plus
  • Adaptable and willing to contribute across the broader HCM function as needed


The Equus Group is an Equal Opportunity Employer and takes pride in maintaining a diverse environment. We do not discriminate in recruitment, hiring, training, promotion, or any other employment practices for reasons of race, color, religion, gender, national origin, age, sexual orientation, marital or veteran status, disability, or any other legally protected status.


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