ZipRecruiter

Log In

1

Compensation Manager Jobs in Elgin, IL (NOW HIRING)

Old Mission

Senior Compensation Manager

Chicago, IL · On-site

$150K - $250K/yr

About This Role We're looking for a Senior Compensation Manager to lead compensation strategy and operations for the firm. This role owns the day-to-day design, analysis, and administration of our ...

Old Mission

Senior Compensation Manager

Chicago, IL · On-site

$150K - $250K/yr

About This Role We're looking for a Senior Compensation Manager to lead compensation strategy and operations for the firm. This role owns the day-to-day design, analysis, and administration of our ...

Chobani

Manager, Compensation

Chicago, IL · On-site

Summary This role manages the day-to-day compensation operations for assigned client groups, acting as an internal consultation advising the HR business partners and leadership on compensation ...

NorthShore

Program Manager, Compensation

Warrenville, IL · On-site

$46.79 - $72.52/hr

Program Manager, Compensation The Program Manager, Compensation is responsible for the oversight, administration, and continuous improvement of the organization's compensation structures and programs.

next page

Showing results 1-20

All JobsCompensation JobsCompensation Manager JobsCompensation Manager Jobs in Elgin, IL

Compensation Manager information

See Elgin, IL salary details

$35.1K

$113.4K

$167.6K

How much do compensation manager jobs pay per year?

As of Aug 16, 2026, the average yearly pay for compensation manager in Elgin, IL is $113,412.00, according to ZipRecruiter salary data. Most workers in this role earn between $94,900.00 and $131,000.00 per year, depending on experience, location, and employer.

What is a compensation manager?

A compensation manager is part of a corporate HR team which researches and develops the pay policies in a company. They use research to help determine fair pay scales for all the company employees. Duties include helping the business with recruiting and integrating new employees. At a small company, they might be responsible for all aspects of the pay system, while at a larger company they may have specific responsibilities, such as doing market research or surveying workers.

What is the difference between Compensation Manager vs Compensation Analyst?

AspectCompensation ManagerCompensation Analyst
CredentialsBachelor's degree, often HR or Business; certifications like CCP or CBPBachelor's degree in HR, Business, or related; certifications like CCP beneficial
Work EnvironmentOversees compensation strategies, manages teams, collaborates with HR leadershipAnalyzes salary data, prepares reports, supports compensation programs
Employer & Industry UsageUsed in large organizations across various industriesCommon in HR departments, especially in finance, healthcare, and tech sectors

The Compensation Manager focuses on developing and managing overall compensation strategies, policies, and team leadership. In contrast, the Compensation Analyst primarily conducts data analysis, prepares reports, and supports compensation program implementation. Both roles require similar credentials but differ in scope and responsibilities within the compensation function.

What are the key skills and qualifications needed to thrive as a compensation manager?

To thrive as a Compensation Manager, you need expertise in compensation analysis, benefits administration, and compliance, often supported by a degree in human resources or business and relevant certifications such as CCP (Certified Compensation Professional). Familiarity with HRIS systems, data analytics tools, and compensation benchmarking software is typically required. Strong analytical thinking, attention to detail, and effective communication skills help you design competitive pay structures and collaborate with stakeholders. These skills ensure fair, data-driven compensation practices that support employee satisfaction and organizational goals.

What degree do you need to be a compensation manager?

A compensation manager typically needs a bachelor's degree in human resources, business administration, finance, or a related field. Many employers prefer candidates with a master's degree or professional certifications such as the Certified Compensation Professional (CCP). Relevant skills include data analysis, knowledge of compensation laws, and experience with HR software.

What are some common challenges compensation managers face when designing competitive pay structures?

Compensation Managers often navigate the challenge of balancing internal equity, market competitiveness, and budget constraints when designing pay structures. They must ensure that compensation packages attract and retain top talent while staying compliant with regulations and maintaining fairness across the organization. Additionally, Compensation Managers regularly analyze market data, manage employee expectations, and collaborate with HR and leadership to support organizational goals. These complexities require strong analytical skills, communication, and the ability to adapt to changing market trends.
More about Compensation Manager jobs

What job categories do people searching Compensation Manager jobs in Elgin, IL look for?

The top searched job categories for Compensation Manager jobs in Elgin, IL are:

What cities near Elgin, IL are hiring for Compensation Manager jobs?

Cities near Elgin, IL with the most Compensation Manager job openings:

Compensation Manager jobs near you
Infographic showing various Compensation Manager job openings in Elgin, IL as of August 2026, with employment types broken down into 1% As Needed, 82% Full Time, 15% Part Time, 1% Contract, and 1% Nights. Highlights an 93% Physical, 3% Hybrid, and 4% Remote job distribution, with an average salary of $113,412 per year, or $54.5 per hour.

Compensation Manager

Peak6 Investments LLC

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 29 days ago

Job description

WHO WE ARE
We are PEAK6, a leading investment firm, using technology to find a better way of doing things. The company's first tech-based solution was developed in 1997 to optimize options trading, and over the past two decades, the same formula has been used across a range of industries, asset classes, and business stages to consistently deliver superior results. Today, PEAK6 seeks transformational opportunities to provide capital and strategic support to entrepreneurs and forward-thinking businesses. PEAK6's core brands include PEAK6 Capital Management, PEAK6 Strategic Capital, Apex Fintech Solutions, FOCUS, We Insure, Evil Geniuses, Poker Power, Zogo, and Bruce Markets.
ABOUT THIS ROLE
The Compensation Manager is responsible for designing, implementing, and administering the organization's compensation programs to attract, retain, and motivate a high-performing workforce. This role ensures that all compensation structures, including base pay, incentive programs, and equity plans, are internally equitable, externally competitive, and aligned with the company's strategic objectives. The Compensation Manager partners closely with HR Business Partners, Finance, and senior leadership to provide data-driven insights and recommendations that support total rewards strategy and workforce planning. Through rigorous market analysis, job evaluation, and compliance oversight, this position plays a critical role in maintaining a fair and legally compliant compensation framework across the organization.
You'll be responsible for:
  • Design, implement, and manage base pay structures, salary bands, and merit increase programs aligned with organizational strategy and market competitiveness.
  • Administer short-term and long-term incentive plans, including annual bonus programs, sales compensation plans, and equity-based awards.
  • Conduct regular reviews of compensation programs to ensure internal equity, external competitiveness, and alignment with business goals.
  • Partner with HR leadership to develop and refine total rewards philosophy, ensuring programs support talent acquisition and retention objectives.
  • Manage the annual compensation planning cycle, including merit, bonus, and equity processes, in collaboration with HR Business Partners and Finance.
  • Lead participation in third-party compensation surveys and analyze results to benchmark roles against relevant industry and geographic markets.
  • Conduct job evaluations and maintain job architecture, including job leveling, titling standards, and FLSA classifications across the organization.
  • Develop and present competitive market analyses and pay recommendations to support new hire offers, promotions, and internal equity adjustments.
  • Monitor external market trends, legislative changes, and emerging best practices to proactively identify gaps and recommend program enhancements.
  • Maintain and update the organization's job catalog, ensuring accurate and consistent job documentation across all functions and levels.
  • Serve as a subject matter expert and trusted advisor to HR Business Partners, recruiters, and business leaders on compensation-related matters.
  • Develop and deliver training and educational materials to help managers and HR partners understand and apply compensation guidelines and philosophy.
  • Support mergers, acquisitions, and organizational restructuring initiatives by conducting compensation due diligence and integration planning.
  • Collaborate with Finance on compensation forecasting, budgeting, and cost modeling to support workforce and business planning activities.
  • Ensure all compensation programs and practices comply with applicable federal, state, and local regulations, including FLSA, Equal Pay Act, and pay transparency laws.
  • Prepare and analyze compensation data and metrics, delivering actionable insights and dashboards to HR leadership and business stakeholders.
  • Support pay equity analyses and audits, identifying disparities and recommending corrective actions to promote fair and equitable pay practices.
  • Maintain accurate compensation data within the HRIS, ensuring data integrity and supporting system configuration related to compensation modules.
  • Prepare required regulatory filings and disclosures related to compensation as needed.

Your Experience
  • Bachelor's degree in Human Resources, Business Administration, Finance, or a related field preferred.
  • Certified Compensation Professional (CCP) designation through WorldatWork strongly preferred; PHR, SPHR, or SHRM-CP/SCP certification a plus.
  • High School Diploma Required
  • Minimum of 5-7 years of progressive experience in compensation, total rewards, or a related HR function required.
  • Demonstrated experience designing and administering broad-based compensation programs, including base pay structures and incentive plans, in a mid-to-large organization.
  • Prior experience conducting market pricing, job evaluation, and compensation analysis using third-party survey sources such as Mercer, Willis Towers Watson, or Radford required.
  • Advanced proficiency in Microsoft Excel and experience with data modeling, compensation analysis, and the use of HRIS platforms such as Workday
  • Strong knowledge of federal and state compensation-related regulations including FLSA, Equal Pay Act, and emerging pay transparency legislation.
  • Exceptional analytical and quantitative skills with the ability to translate complex data into clear, concise recommendations for a variety of audiences including senior leadership.
  • Excellent interpersonal and communication skills with demonstrated ability to build collaborative relationships, influence without authority, and manage multiple stakeholders effectively.
  • High level of integrity, discretion, and professionalism when handling sensitive and confidential compensation information, with strong attention to detail and organizational skills.

OUR REWARDS
We offer a robust package of employee perks and benefits, including healthcare benefits (medical, dental and vision, EAP), competitive PTO, 401k match, parental leave, and HSA contribution match. We also provide our employees with a paid subscription to the Calm app and offer generous external learning and tuition reimbursement benefits. As a hybrid workforce, we offer our employees the ability to work remotely up to two days a week.
Base pay offered may vary depending on job-related knowledge, skills, experience, and office location. This position also may be eligible for a discretionary annual bonus in addition to a range of health & wellness benefits, enhancing your overall compensation package.
Base Salary Range
$122,400-$153,000
PEAK6 is proud to be an equal opportunity employer that does not discriminate on the basis of race, color, religion, sex (including pregnancy, sexual orientation, and gender identity), national origin, age, disability, veteran status, marital status, or any other protected characteristic. Our hiring practices ensure that all qualified applicants receive fair consideration without regard to these characteristics.
PEAK6 is committed to creating an inclusive and accessible workplace for all candidates, including those with disabilities. We are dedicated to ensuring equal employment opportunities and providing reasonable accommodations to qualified individuals with disabilities. If you require reasonable accommodations to participate in the application or interview process, please contact our HR department at hr@peak6.com. We will work with you to provide the necessary accommodations to ensure your full participation in our hiring process.
#PEAK6

Apply