Senior Compensation Analyst, Advanced Practice Provider Compensation - Physician Practice Jobs in Edison at Hackensack Meridian Health

Overview

Our team members are the heart of what makes us better.

At Hackensack Meridian Health we help our patients live better, healthier lives — and we help one another to succeed. With a culture rooted in connection and collaboration, our employees are team members. Here, competitive benefits are just the beginning. It’s also about how we support one another and how we show up for our community.

Together, we keep getting better - advancing our mission to transform healthcare and serve as a leader of positive change.

The Senior Compensation Analyst is responsible for the administration of Hackensack Meridian Health Compensation Program for Advanced Practice Providers (APPs). The Senior Compensation Analyst is responsible for managing and continuous improvement of the Hackensack Meridian Health Compensation Program for Advanced Practice Providers (APPs). This role involves developing market-competitive compensation strategies, supporting recruitment, and ensuring internal equity to attract and retain high-quality talent.

This position is hybrid and the primary location can be flexible to any Hackensack Meridian office within our network.  Candidate will need to be on-site based on business need. 

Responsibilities

A day in the life of a Senior Compensation Analyst at Hackensack Meridian Health includes:

• Develops strong partnerships and provides consultation and support to APP recruitment team and hospital and medical practice APP hiring officials.
• Administers all compensation programs for APPs, including, but not limited to base compensation, incentive plans, and annual increases.
• Evaluates and analyzes salary survey data from national, regional and healthcare-specific sources. Determines pay grades, and conducts or participates in compensation surveys; analyzes and recommends new surveys for participation and changes to sponsored surveys to remain market competitive.
• Implements and administers APP variable compensation program, including incentive plan structures, establishing performance metrics, and creating routine reporting on program performance and payouts. Analyzes program effectiveness and proposes enhancements as needed.
• Assigns base salaries to employees based on market data and the internal equity of the job. Assigns base salaries for new hires and existing employees based on job evaluation, internal equity analyses, and market benchmarking. Determines compensation placements within approved pay ranges. Recommends salary adjustments based on survey results, promotion or job changes, and performance.
• Makes recommendations for salary adjustments based on survey results and local and national market intelligence.
• Compiles statistical information and prepares reports relating to compensation and position management utilizing the HRIS system.
• Creates job descriptions reflecting appropriate title, essential functions, qualifications, and requirements.
• Maintains APP compensation expertise, stays abreast of market dynamics and changes.
• Staying abreast of relevant federal, state, and local regulations governing compensation practices, ensuring compliance with laws such as the Fair Labor Standards Act (FLSA) and other applicable statutes. Conducts analysis to ensure compliance with pay equity guidelines.
• Regularly reviews and updates compensation structures for APP roles to align with industry standards and internal compensation philosophy.
• Collaborates with the physician compensation team to ensure alignment between provider compensation structures and organizational strategic initiatives, ensuring that APP and physician compensation plans work in harmony to support overall business objectives and promote consistency across provider groups.
• Interacts with Executive leadership, providers, administrators and other key stakeholders to understand APP staffing needs.
• Demonstrate professionalism and composure in discussions related to APP compensation and supporting informed, respectful conversations with stakeholders.
• Researches and resolves compensation issues based on inquiries.
• Assists in budgeting and forecasting processes related to APP compensation expenses, providing insights and recommendations to optimize financial resources while attracting and retaining top talent.
• Provides expertise and/or acts as team lead for new HR Technology/Compensation upgrades/implementations/integrations and process improvements.
• Relies on experience and judgment to plan and accomplish goals.
• Performs a variety of complicated tasks.
• May lead and direct the work of others.
• Other duties and/or projects as assigned.
• Adheres to the standards identified by the Medical Center's Organizational Competencies.
• Adheres to HMH Organizational competencies and standards of behavior.

Qualifications

Education, Knowledge, Skills and Abilities Required:

• Bachelor's degree in a related area
• Minimum of 4 years of experience in administering APP compensation and/or Physician (MD) compensation
• Knowledge of the field's concepts, practices, and procedures.
• Ability to translate complex compensation data into actionable insights and recommendations for HR and business stakeholders.
• Knowledge of HRIS systems.
• Wide degree of creativity and latitude.
• Excellent written and verbal communication skills.
• Proficient computer skills that include but are not limited to Microsoft Office and/or Google Suite platforms, with a focus on spreadsheets and financial modeling.

Education, Knowledge, Skills and Abilities Preferred:

• Strong analytical skills and experience with compensation modeling and ad hoc analyses.
• Familiarity with benchmarking tools and compensation surveys (e.g., MGMA, SullivanCotter).

Licenses and Certifications Preferred:

• Certified Compensation Professional.

If you feel that the above description speaks directly to your strengths and capabilities, then please apply today!   

Compensation
Starting at $111,924.80 Annually

HMH is committed to pay equity and transparency for our team members. The posted rate of pay in this job posting is a reasonable good faith estimate of the minimum base pay for this role at the time of posting in accordance with the New Jersey Pay Transparency Act and does not reflect the full value of our market-competitive total rewards package.

The starting rate of pay is provided for informational purposes only and is not a guarantee of a specific offer. Posted hourly rates may be stated as an annual salary in the offer and posted annual salaries may be stated as an hourly rate in the offer, depending on the level and nature of the job duties and credentials of the candidate. The base compensation determined at the time of the offer may be different than the posted rate of pay based on a number of non-discriminatory factors, including but not limited to:

• Labor Market Data: Compensation is benchmarked against market data to ensure competitiveness.
• Experience: Years of relevant work experience.
• Education and Certifications: Level of education attained, including specialized certifications, credentials, completed apprenticeship programs or advanced training.
• Skills: Demonstrated proficiency in relevant skills and competencies.
• Geographic Location: Cost of living and market rates for the specific location.
• Internal Equity: Compensation is determined in a manner consistent with compensation ranges for similar roles within the organization.
• Budget and Grant Funding: Departmental budgets and any grant funding associated with the job position may impact the pay that can be offered.