Manager/Senior Manager - Compensation & Benefits - NBFC

- 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.