Sr Compensation & Benefits Analyst

The opportunity 

Magic Leap’s Total Rewards roles are responsible for creating, implementing, managing, and administering compensation and benefits programs that align monetary-focused rewards with our culture and organizational goals. Activities include a) Market trend analysis and 3rd party objective data insights to inform a market relevant compensation and benefits elements, infrastructure, offering, and processes; b) Analyzing and modeling merit and other salary increases, c) Managing job evaluation systems, d) Analyzing market data to assess our organization's competitive position, e) Managing incentive programs (short-term, long-term), f) situation specific compensation guidelines (e.g., spot bonus, retention, sign-on, referral), g) Managing insurance, benefit, superannuation, and retirement programs, h) executive compensation,  and i) Selecting and managing compensation & benefits consultants.

As a Sr Compensation & Benefits Analyst within our People team organization, you will work closely with our VP, Total Rewards, to design, develop, and implement all compensation and benefits programs to ensure our total rewards efforts facilitate and enhance the achievement of Magic Leap’s strategic objectives in a manner consistent with our people strategy and values. 

What you'll do

• Develop and implement a comprehensive global benefits strategy aligned with Magic Leap’s business objectives, ensuring competitive and attractive employee benefits offerings across all our locations.

• Oversee the design, administration, and optimization of all employee benefit programs, including health, wellness, retirement, and other fringe benefits, ensuring compliance with local regulations and industry standards.

• Analyze compensation and benefits trends, market data, and company needs to develop innovative and strategic solutions that mitigate potential challenges and opportunities.

• Adapt traditional compensation and benefits methodologies creatively to align with Magic Leap's unique requirements and objectives, ensuring competitiveness and effectiveness in attracting, retaining, and motivating talent.

• Conduct comprehensive data analysis and provide insightful recommendations to senior executives and C-suite leaders, translating complex compensation and benefits data into actionable insights to inform decision-making and drive business strategy.

• Collaborate with benefits vendors, brokers, and consultants to negotiate contracts, evaluate service offerings, and ensure cost-effectiveness and quality of benefits services and solutions.

• Develop and deliver effective communication strategies and materials to educate employees about available benefits, enrollment processes, and any changes or updates to benefit programs.

• Stay up-to-date with global regulatory changes and requirements related to employee benefits, ensuring compliance with all applicable laws and regulations in each company's jurisdiction.

• Analyze benefit utilization data, trends, and benchmarks to assess benefit programs' effectiveness, identify improvement areas, and provide insights and recommendations to senior leadership.

• Serve as a subject matter expert and point of contact for employee inquiries related to benefits, providing guidance, support, and education to employees on benefit options and resources.

The experience you bring

• 5+ years of progressive experience working in Total Rewards related roles

• Bachelor's Degree in Human Resources, Business, or equivalent relevant experience in an applicable field. We are most interested in your total experience and professional achievements

• Deep expertise in compensation structures and/or benefits offerings

• Global compensation and benefits experience

• Knowledge and understanding of laws and regulations relating to compensation and benefits

• Creative mindset and the ability to think outside the box to adapt traditional compensation and benefits methodologies to meet company needs, drive innovation, and achieve strategic objectives

• Strategic mindset with the ability to anticipate future needs and trends, foresee potential challenges, and develop proactive solutions to address them effectively, leveraging insights to drive business success

• Strong communication and presentation skills with the ability to convey complex ideas and recommendations to senior executives and C-suite leaders, influencing decision-making and driving alignment with company goals

It’s exciting if you also have

• Experience designing and implementing executive compensation programs

• Experience in preparing materials and presentations for board-level meetings

Additional Information

All your information will be kept confidential according to Equal Employment Opportunities guidelines.

Please note that we do not accept any application documents via (e-)mail. Furthermore, we do not accept applications from recruitment agencies for this role.

All legitimate Magic Leap email communications will end with '@magicleap.com'. Please carefully review all emails you receive, to ensure you only engage with legitimate representatives of Magic Leap. For the protection of your Personal Information, do not click any links, open any attachments, or further engage with any suspicious communications. In the event you receive an unexpected or suspicious communication claiming to come from Magic Leap, please reach out directly to TalentAcquisition@magicleap.com for assistance.

Accommodations

If you need an accommodation during the application, interviewing, or hiring process, you may request an accommodation by emailing ApplicantAccommodation@magicleap.com. Magic Leap will reasonably accommodate qualified individuals with disabilities to the extent required by applicable law.

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