A sales compensation analyst analyzes salary levels and commissions for the sales team in a company. The analyst makes sure that the compensation is distributed correctly. The analyst will usually carry out validation efforts on a monthly basis. Exception requests should also be processed manually by the analyst. It is important to be detail-oriented to be able to detect any current discrepancies. When complaints are made as to inconsistencies, the sales compensation analyst must use problem-solving skills to find out the root of the problem, whether it is a one-time error or ongoing issue.
Sometimes, the compensation analyst may be asked to provide suggestions as to changes in salary levels and commission levels. The sales compensation analyst should create reports for management as to the effectiveness of compensation plans. The analyst may work on a team to make suggestions as to what should be changed.
Strong computer skills are necessary, in order to perform the tasks of this job. The analyst should be proficient with Microsoft Word and Excel, in order to create formulas and charts. The analyst will also have to create financial models for projections and what-if scenarios. It is important to be proficient with automated compensation pricing tools. The analyst will usually work in an office environment, though some travel may be necessary to work with other departments. Usually, a bachelor’s degree in business administration, finance, accounting, or something similar is needed.
Sales Compensation Analyst Tasks
Assist in planning and implementing new and modified sales compensation plans.
Compute commissions, wages and deductions for sales employees.
Compile, analyze and report employee incentive sales data.