Career As A Compensation Manager

Hi,
Kindly let me know what basic knowledge needs to be gained to become a successfull compensation manager.
I have been in IT industry for the past 5 yrs. Worked in recruitment and HR operations. Am quite keen in making a career in compensation.
Is there any training which can increase my knowledge further in this subject.
Compensation Experts - Please suggest
Regards
Chetana

Hi Chetana,
To move towards a specialist role of Compensation & Benefit Manager you need to have worked on the following area:
· Salary planning and review
· Incentive plan design
· Reward & Recognition Program
· Stock Plan
. Designing, analysing, reviewing and implementing compensation & benefit programs within the company
It would be an added advantage if you have worked with the Compensation Consulting companes (like Hewitt,Mercer,E&Y etc.) .
There are many trainings being conducted in Mumbai on managerial Compensation etc. I am sure it would a be good help in gaining knowledge on this topic.
Hope this answers your query to some extent!
Thanks,

Hi!
I think you should also include the study of Job Evaluation and Analyis, Job Classification, Job Grading, Compensation Benchmarking, and Design of Salary Structure (over and above what was already mentioned above) by our colleague.
Best wishes.
Ed Llarena, Jr.
Managing Partner
Emilla Consulting

hi..im new to this site..im doing PGDM in HR ...need a project which will be starting in september...plz tell what are good topics to do project ....