Sr Analyst

Position: Sr Analyst, Compensation

We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time.

Position

Summary

The Senior Compensation Analyst is an experienced professional individual contributor that provides consultation, and analytical, project, & operational support to the Compensation team. This role partners with HR and business leader to deliver market informed compensation recommendations, conducts market pricing and salary studies, supports annual salary review cycles and compensation governance, performs job evaluations, and produces data-driven reports that inform pay decisions.

The ideal candidate will operate with general supervision and exercises independent judgement within guidelines, combines strong analytical capabilities with experience utilizing compensation and HR systems to deliver market-driven recommendations, support compensation decision-making, and ensure alignment with organizational pay practices.

Key Responsibilities Market Studies, Salary Reviews, and Governance

• Conduct market pricing, peer cuts and benchmarking using multiple survey and data sources.
• Analyze and age survey data, apply geographic differentials, and recommend competitive pay ranges and structures.
• Support the annual merit, bonus, and off-cycle salary review processes, including data preparation, modeling, budget tracking, and quality checks.
• Review pay actions (hires, promotions, transfers, and adjustments) for adherence to compensation guidelines, internal equity, and range placement.
• Evaluate internal equity, pay positioning, and compensation-related trends
• Support compensation governance by maintaining policies, pay action / job catalog, guidelines, approval workflows, and audit-ready documentation.
• Provide routine compensation guidance to HR Business Partners.

Data Analysis and Reporting

• Build, maintain, and automate recurring and ad hoc compensation reports using Market Pay, Workday, compensation software, and human capital analytics tools.
• Develop reports, models, presentations, and workforce insights to support decision-making.
• Analyze workforce and pay data to identify trends, outliers, compression, and equity concerns, and translate findings into clear recommendations.
• Perform data validation and integrity checks across HRIS and compensation systems.
• Prepare executive-ready summaries and visualizations for the Director, Senior Managers, HR Business Partners, and business leaders.
• Respond to data requests with accuracy, timeliness, and appropriate confidentiality.

Job Evaluations

• Assist with job evaluations for new and changed positions using the organization’s job leveling and evaluation methodology.
• Review job descriptions for accuracy and consistency and partner with HR Business Partners and Compensation team to gather information.
• Recommend job levels, grades and market matches, and document the rationale.
• Support leveling and calibration discussions to promote internal equity and consistency.

Compensation Projects

• Manage project timelines, deliverables, and stakeholder communications for assigned work.
• Draft documentation, process guides, and presentation materials to support project rollout.
• Identify opportunities to streamline processes and improve consistency across compensation programs.

Qualifications

• 3+ years of progressive experience in HR, with a focus on compensation or total rewards.

• Experience leveraging HR, compensation, and workforce data to…