How would you go about conducting a compensation analysis for executive level positions with our clients at Russell Reynolds Associates Ltd?
Due to the fact that a lot of organizations do not include executive level positions in their salary grades or ranges, this position with Russell Reynolds Associates Ltd may provide the need for you to conducts compensation analysis studies for clients. Talk to your interviewer about your experience in conducting compensation analyses during your career and walk through how you would do this executive level positions. In the end, reiterate the importance of how you would obtain buy-in on this process from the clients you would be working with.
"My first step to conduct the compensation analysis for the position would be to speak with leaders from the client and learn more about the position and the goals for the position and the eventual hire. This would enable me to effectively compare this position to currently existing positions. Then, I'd use market research that I have access to or could find to have a comparable salary. Fully understanding that executive level positions can vary greatly from industry to industry, I would use every detail possible to get the best analysis and final salary number possible. This process, when detailed to clients, would pain a clear picture for them to gain belief in the process."
