Job Description - Manager / Senior Manager - Compensation & Benefits

Location: Gurgaon

Industry: NBFC / Financial Services

Function: Compensation & Benefits

Must have done full time MBA from TIER1 Institutes.

Role Overview

We are looking for an experienced Compensation & Benefits professional with strong expertise in Indian domestic compensation practices, payroll governance, benefits administration, compensation benchmarking and rewards management. The candidate should have hands-on experience in designing, implementing and managing C&B frameworks in an Indian organisation, preferably within an NBFC or BFSI setup.

Key Roles & Responsibilities

1. Compensation Management:

- Manage end-to-end compensation structures, salary benchmarking and annual compensation reviews.

- Design and administer fixed pay, variable pay, incentives, bonuses and performance-linked compensation.

- Conduct market benchmarking and internal parity analysis to ensure competitive compensation structures.

- Manage compensation revisions, promotions, increments and salary fitments.

2. Benefits Administration:

- Manage employee benefits, including medical insurance, group term life insurance, personal accident insurance, leave benefits and other employee welfare schemes.

- Review and enhance employee benefit programs in line with Indian market practices.

- Manage vendor relationships and ensure effective delivery of employee benefit programs.

3. Annual Compensation & Rewards Cycle:

- Drive annual increment, bonus and performance-linked reward cycles.

- Partner with HR Business Partners and business leaders on compensation decisions.

- Prepare compensation budgets, cost projections and manpower cost analysis.

- Support retention strategies through compensation interventions.

4. Compensation Analytics & Governance:

- Develop compensation dashboards, MIS reports and workforce cost analytics.

- Conduct pay equity and internal compensation parity analysis.

- Establish standard compensation policies, processes and governance frameworks.

Desired Candidate Profile:

- 5+ years of experience in Compensation & Benefits, preferably in an NBFC, Banking or Financial Services organisation.

- Must have done full time MBA from TIER1 Institutes.

- Strong hands-on experience in Indian domestic compensation and benefits practices.

- Sound understanding of Indian structure, compensation regulations.

- Experience in annual compensation reviews, salary benchmarking, variable pay and incentive management.

- Strong Excel and HR analytics skills.

- Experience in managing compensation structures across multiple business functions and employee levels.

- Should have strong individual contributor capabilities along with stakeholder management skills.

Preferred Background:

- NBFC / Banking / Financial Services.

- Indian domestic organisations with large employee bases.

Candidates with strong core C&B experience rather than international compensation or global mobility-focused profiles.