Sallie Mae is a company created with great purpose. We provide loans. But what separates us from any other financial institution is that we have a why. We have a purpose. We make the dream of higher education a reality. We do it by being a resource for families who want to save, plan, and pay for college. Our vision, to be a trusted financial partner, inspires us to explore new ways to serve our customers every day. No matter what position you hold at Sallie Mae, you'll have a role in moving us toward that vision.
Over the last 40 years, Sallie Mae has helped more than 34 million Americans pay for college. The same passion we have for helping customers is applied to helping our employees achieve professional and personal growth. With a wide range of opportunities available, we invite you to join our growing team and help students make their dreams of higher education a reality.
Newark - Continental, DEWho we are:
Sallie Mae is proud to help Americans aspiring to create the life they want—whether that means helping them make college happen, or something more. Our colleagues across departments and across the country are united in our passion and our customer-first approach. Whether you want to join a growing company, be part of an agile workforce, or gain new skills—you’re in the right place.
What You’ll Contribute:
The Compensation Analyst will assist with the design, implementation, and
administration of compensation programs that are cost effective and that
provide strong competitive positioning to support the company’s
compensation philosophy. Must have a foundational knowledge of compensation
principles, compensation tools, surveys and market data resources to
provide sound data and recommendations. Must have the ability to explain
compensation principles to all management levels of the company while
ensuring compliance to all state and federal regulatory requirements that
relate to compensation.
What You'll Do:
50% - Compensation Administration
- Supports the Compensation team in establishing the compensation
strategy and set short- and long-term objectives to drive the success
of the function.
- Plans, analyzes and supports merit and incentive programs; provides
accrual estimates, plan payouts, and timelines to finance for
Management incentive plan.
- Reviews salary adjustment requests and position approval proposals for
all positions; makes recommendations based on internal equity and
- Evaluates any new or revised job descriptions and determines
appropriate job grades and salary ranges;
- Ensures the new job code, job grade, new salary ranges exist in Workday
and compensation structure.
- Validates job grades in the compensation structure to ensure the grade
assignment is aligned with the market and reflects the internal value.
- Provides consulting services to HR Business Partner(s) and business
unit management on compensation policies and practices.
- Audits and diagnoses compensation issues in the workplace and
identifies appropriate strategies to resolve problems.
- Partners with Legal counsel to conduct audits and manages audit process
to ensure compliance of compensation policies and legal requirements
30% - Incentive Compensation Administration
- Oversees the company’s short-term incentive governance program which
outlines the standards and requirements for incentive compensation plan
(ICP) design and administration. Works with HR and business units to
communicate and ensure compliance with program requirements
- Partners with HR Business Partner(s) to support the design and analysis
of business area incentive plans. Assist in establishing guidelines to
measure ongoing plan effectiveness
- Supports the design and administration of the Corporate Incentive Plan
- Provides corporate level reporting and tracking of ICP performance
against goals and anticipated/actual payouts.
- Stay abreast of regulatory environment impacting incentive
compensation. Ensure continued compliance with regulatory requirements,
internal controls and Sallie Mae’s compensation strategy
- Provides expertise in the ongoing management and improvement of
incentive compensation programs and processes
20% - Equity Administration
- Assists in preparing annual proxy statement, including preparation of
all equity charts
- Responsible for maintaining controls and processes for equity awards
- Oversees annual Employee Stock Purchase Plan
What You'll Bring:
What You'll Get at Sallie Mae:
- Bachelor’s degree in Human Resources or related field or equivalent
- Three years of combined experience in Compensation, Human Resources, or
- Previous Experience in banking industry highly preferred
- Knowledge of Federal Guidelines on Sound Incentive Compensation
- Must have strong computer and database application skills including
Microsoft Word, Excel, PowerPoint
- Workday knowledge or experience preferred
- Experience with equity plans preferred
- Demonstrated knowledge of compensation and employment law
- Excellent oral and written communication skills
- Knowledge of equity plan design and administration
- Strong data analysis skills
- Must be extremely detail oriented
- Ability to influence and build effective interpersonal relationship
- Strong project and time management skills
- Ability to multi-tasking and prioritize multiple projects/tasks
- Strong customer service skills
- Strong problem-solving skills
- PHR/CCP Certification preferred
- Comprehensive Compensation and Healthcare Benefits (Medical, Dental, Vision plans)
- Financial Well-being: 401(k) company match, employee stock purchase plan, and basic life insurance and short-term disability are provided to employees at no cost
- Work/Life Balance: Paid time off, time off to volunteer, and tuition reimbursement. In addition, after 6 months of employment, primary caregivers receive 12 weeks of 100% fully paid time off and secondary caregivers are eligible for 4 weeks of 100% fully paid time off, for birth or adoption
- Wellness: Fitness centers/gym subsidies, free Fitbits with step challenges, and wellness education