Compensation Analyst

Website The Hanover Insurance Group

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.

Our Human Resources department is currently seeking a Compensation Analyst. This role will work a hybrid schedule out of our Worcester, MA office. Remote candidates will be considered.

Position Overview/Summary:

The Compensation Analyst will perform a wide range of analytical and problem-solving support activities in the compensation and benefits area. The role will be responsible for analyzing trends and information to identify key findings and suggest possible root causes to problems or areas of opportunity.  The role utilizes general problem-solving skills along with skills in MS Office (such as Excel, Word, Power Point and Power BI) to review, prepare and/or present information.

Responsibilities/Essential Functions:

  • Participate in salary surveys and synthesize results identifying key observations and market insights to be presented to management
  • Support administration and communication of compensation programs including the annual and off cycle compensation processes
  • Analyze and interpret compensation data showcasing areas of opportunity
  • Conduct job evaluations and market analysis requests
  • Work with HR Business Consultants and talent acquisition team on day-to-day compensation related questions
  • Conduct and compile information on competitive compensation and benefits programs and practices
  • Maintain updates in Payfactors and train internal users on the tool
  • Gather information required for pay equity analysis efforts
  • Maintain documentation on job evaluations and market analysis work
  • Seek input from key stakeholders on compensation programs and practices
  • Conduct research and analysis for compensation and benefits related projects
  • Partner HR Technology team to design and deliver compensation tools and technologies
  • Provide innovative solutions aimed at creating greater efficiencies and improved outcomes
  • Participate in and/or provide project coordination & management on key compensation and benefits projects & initiatives
  • Develop and analyze key measures of compensation & benefits program effectiveness
  • Analyze impact of regulatory or compliance changes to existing programs

Position Requirements:

  • Bachelor’s Degree preferred
  • 3+ years of compensation experience
  • Strong analytical skills, attention to detail, and demonstrated ability to maintain a high degree of accuracy
  • Ability to take data and tell the story
  • Experience with Payfactors a plus
  • Proficient with Microsoft Office Suite with advanced knowledge of Excel


It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.


We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

  • Medical, dental, vision, life, and disability insurance
  • 401K with a company match
  • Tuition reimbursement
  • PTO
  • Company paid holidays
  • Flexible work arrangements
  • Cultural Awareness Day in support of IDE
  • On-site medical/wellness center (Worcester only)
  • Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.”

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here.

Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here.

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