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McKinsey & Company - Compensation Specialist

6 Jun 2019 2:47 PM | Matthew Perez (Administrator)

Full Title: Specialist, Global Compensation Intelligence & Advisory

Context

McKinsey & Company is a global management consulting firm that helps leading corporations and organizations make distinctive, lasting, and substantial improvements in their performance. Over more than nine decades, the firm’s primary objective has remained constant: to serve senior leaders as their most trusted external advisor on critical issues facing their organizations.

With approximately 9,000 consultants deployed from 106 locations in more than 60 countries, McKinsey advises companies, governments, and non-profit organizations on a full spectrum of challenges and opportunities. The firm’s clients reflect the global nature of the organization. Around 40% are in Europe, 35% in the Americas, 15% in Asia Pacific and 10% in the Middle East and Africa.

In recent years, McKinsey has expanded into a variety of professional services models to innovate the firm and consulting profession. For instance, New Ventures is a recently created group within McKinsey focused on fostering innovations and integrating them into client work. It provides a foundation for—and deepens the investment in—the culture of entrepreneurialism, which has long been a hallmark of the firm. McKinsey has expanded the talent model to attract people with diverse backgrounds: mathematicians, data scientists, designers, software engineers, implementation experts, and entrepreneurs.

Despite the global reach, McKinsey is designed to operate as one firm with a single global partnership united by a strong set of values, focused on client impact.  Most recently, we have created and rapidly grown our Global Compensation Function (GCF) to help shape global compensation approaches and provide expertise on compensation design and delivery.

Role overview

The Global Compensation Intelligence and Advisory Specialist will have the opportunity to help engage on a range of initiatives within the broader GCF.  Some example activities may include:

·         Leading market benchmarking projects to assess our pay positioning for a set of roles or geographies and to ensure we have a pulse of market compensation across our talent profiles

·         Building relationships with leading global compensation consulting firms in support of high-impact projects

·         Collaborating with talent management and HR colleagues to assess local compensation structures and determine whether ranges should be modified

·         Monitoring external market compensation trends so that our compensation practices are relevant and attract and retain top talent

·         Developing incentive designs grounded with best practice approaches

·         Assisting in the annual year-end compensation decision-making process

·         Conducting planned and ad hoc analyses in support of high-level compensation initiatives for the Firm’s Compensation Policy Committee

The Ideal Candidate

The ideal candidate is an analytical problem solver who strives for continuous improvement. He or she has a background in compensation and has supported external clients or internal compensation teams. Experience working on projects covering some of the following is desired: pay philosophy review, benchmarking analyses, range development, job architecture, incentive design, performance management linkage to compensation, comp due diligence in M&A, Comp Committee materials prep, market pricing, and proxy analyses.

To be effective in this role, the individual should have strong communication skills, confidence, maturity, and the ability to interact as a peer to Firm partners. Outstanding organizational skills and attention to detail, along with a collaborative working style and approach are necessary. Stellar analytical capability and Microsoft Excel dexterity are a must.

The candidate should be able to influence across McKinsey’s global, decentralized professional environment. He or she should be bright, intellectually curious, and have an engaging and personable style. The ability to gain credibility quickly and build relationships across the firm will be important in contributing to this function.

The candidate should be entrepreneurial and self-directed with the initiative to build, create, and innovate capability-building programs. He or she should demonstrate a record of high-impact problem-solving and strong sense of ownership with the ability to create structure in ambiguous situations. He or she should be resourceful, able to analyze a situation, distill the true need, formulate recommendations, and create a fact-based case to support findings by thinking creatively about how to get the job done and work around obstacles.

A strong understanding of current trends in compensation and interest in monitoring changes to the compensation landscape, coupled with a familiarity of compensation best practices and experience working on global initiatives is preferred. He or she should have strong experience contributing to initiatives from strategy to execution to results using a change-agent mindset.

Preferred locations: New York City, New York & Atlanta, Georgia

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