Associate Director Faculty Compensation at Memorial Sloan-Kettering
New York, NY 10001
About the Job
Pay Range$146,100.00-$241,100.00Company OverviewThe people of Memorial Sloan Kettering Cancer Center (MSK) are united by a singular mission: ending cancer for life
Our specialized care teams provide personalized, compassionate, expert care to patients of all ages
Informed by basic research done at our Sloan Kettering Institute, scientists across MSK collaborate to conduct innovative translational and clinical research that is driving a revolution in our understanding of cancer as a disease and improving the ability to prevent, diagnose, and treat it
MSK is dedicated to training the next generation of scientists and clinicians, who go on to pursue our mission at MSK and around the globe. Please review important announcements about vaccination requirements and our upcoming EHR implementation by clicking here.Important Note for MSK Employees: Your Career Hub profile is submitted to the hiring team as your internal resume
Please be sure your profile is fully complete with your skills, relevant experience and education (if required)
Click here to learn more
Please note, this link is only accessible for MSK employees
Job DescriptionExciting Opportunity at MSK: Join our team as Head of Faculty Compensation
We are looking for an experienced and dynamic individual to oversee and advance our compensation programs for faculty across Memorial Hospital and the Sloan Kettering Institute.If you are a forward-thinking compensation professional passionate about ensuring competitive and fair compensation practices, we invite you to apply!Role Overview:This role will be pivotal in ensuring that our compensation practices are competitive and equitable, and follow all applicable laws and regulations
Collaborating with Total Rewards leadership, develop and implement MSK's Faculty Compensation Philosophy
Establish and maintain policies and procedures for its administration.Key Responsibilities:Serve as an expert advisor on all aspects of faculty compensation, including salary recommendations, market adjustments, incentives, and deferred compensation arrangements.Provide operational leadership for the redesign of the clinical practice plan initiative
Align incentive pay with clinical productivity, extend incentives to all faculty in the practice plan, and adjust compensation benchmarks and target ranges.Manage the annual review process for faculty pay in conjunction with the Office of the Chief Physician Executive and department leadership
Audit the process to ensure accuracy and recommend improvements.Develop metrics and tools to assess the competitiveness and appropriateness of compensation programs
Conduct market studies and apply data sources to benchmark pay.Ensure compliance with legal and regulatory requirements, including federal tax law and Fair Market Value (FMV) standards
Support the Senior Director of Compensation and SVP of Total Rewards with JHRC activities related to faculty compensation
Promote a shared understanding of compensation philosophy, policies, and procedures across departments.Key Qualifications:Proven experience in compensation management, particularly within a healthcare or academic setting.Demonstrated ability to develop and implement compensation strategies, policies, and funding models.Strong understanding of regulatory compliance, including federal tax laws and Fair Market Value requirements.Experience with market studies, salary surveys, benchmarking, and competitive analysis.Excellent leadership skills with experience managing and mentoring a team.Strong analytical skills with experience in developing metrics and tools to assess compensation competitiveness.Core Skills:Strategic Compensation PlanningRegulatory Compliance and Legal KnowledgeMarket Analysis and BenchmarkingCompensation Program Design and OptimizationLeadership and Team ManagementEffective Communication and Advisory SkillsAdditional informationLocation: HybridSchedule Monday – FridayReporting to the Senior Director of CompensationRay Range: $205,000.00-$270,000.00Helpful Links:#LI-HYBRIDMSK Compensation PhilosophyReview our great benefits offerings#LI-POSTClosingMSK is an equal opportunity and affirmative action employer committed to diversity and inclusion in all aspects of recruiting and employment
All qualified individuals are encouraged to apply and will receive consideration without regard to race, color, gender, gender identity or expression, sexual orientation, national origin, age, religion, creed, disability, veteran status or any other factor which cannot lawfully be used as a basis for an employment decision. Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities
Please tell us if you require a reasonable accommodation to apply for a job or to perform your job
Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.Job SummaryRequisition ID: 2024-80560Category: Professional - Human ResourcesPay Range: $146,100.00-$241,100.00
Our specialized care teams provide personalized, compassionate, expert care to patients of all ages
Informed by basic research done at our Sloan Kettering Institute, scientists across MSK collaborate to conduct innovative translational and clinical research that is driving a revolution in our understanding of cancer as a disease and improving the ability to prevent, diagnose, and treat it
MSK is dedicated to training the next generation of scientists and clinicians, who go on to pursue our mission at MSK and around the globe. Please review important announcements about vaccination requirements and our upcoming EHR implementation by clicking here.Important Note for MSK Employees: Your Career Hub profile is submitted to the hiring team as your internal resume
Please be sure your profile is fully complete with your skills, relevant experience and education (if required)
Click here to learn more
Please note, this link is only accessible for MSK employees
Job DescriptionExciting Opportunity at MSK: Join our team as Head of Faculty Compensation
We are looking for an experienced and dynamic individual to oversee and advance our compensation programs for faculty across Memorial Hospital and the Sloan Kettering Institute.If you are a forward-thinking compensation professional passionate about ensuring competitive and fair compensation practices, we invite you to apply!Role Overview:This role will be pivotal in ensuring that our compensation practices are competitive and equitable, and follow all applicable laws and regulations
Collaborating with Total Rewards leadership, develop and implement MSK's Faculty Compensation Philosophy
Establish and maintain policies and procedures for its administration.Key Responsibilities:Serve as an expert advisor on all aspects of faculty compensation, including salary recommendations, market adjustments, incentives, and deferred compensation arrangements.Provide operational leadership for the redesign of the clinical practice plan initiative
Align incentive pay with clinical productivity, extend incentives to all faculty in the practice plan, and adjust compensation benchmarks and target ranges.Manage the annual review process for faculty pay in conjunction with the Office of the Chief Physician Executive and department leadership
Audit the process to ensure accuracy and recommend improvements.Develop metrics and tools to assess the competitiveness and appropriateness of compensation programs
Conduct market studies and apply data sources to benchmark pay.Ensure compliance with legal and regulatory requirements, including federal tax law and Fair Market Value (FMV) standards
Support the Senior Director of Compensation and SVP of Total Rewards with JHRC activities related to faculty compensation
Promote a shared understanding of compensation philosophy, policies, and procedures across departments.Key Qualifications:Proven experience in compensation management, particularly within a healthcare or academic setting.Demonstrated ability to develop and implement compensation strategies, policies, and funding models.Strong understanding of regulatory compliance, including federal tax laws and Fair Market Value requirements.Experience with market studies, salary surveys, benchmarking, and competitive analysis.Excellent leadership skills with experience managing and mentoring a team.Strong analytical skills with experience in developing metrics and tools to assess compensation competitiveness.Core Skills:Strategic Compensation PlanningRegulatory Compliance and Legal KnowledgeMarket Analysis and BenchmarkingCompensation Program Design and OptimizationLeadership and Team ManagementEffective Communication and Advisory SkillsAdditional informationLocation: HybridSchedule Monday – FridayReporting to the Senior Director of CompensationRay Range: $205,000.00-$270,000.00Helpful Links:#LI-HYBRIDMSK Compensation PhilosophyReview our great benefits offerings#LI-POSTClosingMSK is an equal opportunity and affirmative action employer committed to diversity and inclusion in all aspects of recruiting and employment
All qualified individuals are encouraged to apply and will receive consideration without regard to race, color, gender, gender identity or expression, sexual orientation, national origin, age, religion, creed, disability, veteran status or any other factor which cannot lawfully be used as a basis for an employment decision. Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities
Please tell us if you require a reasonable accommodation to apply for a job or to perform your job
Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.Job SummaryRequisition ID: 2024-80560Category: Professional - Human ResourcesPay Range: $146,100.00-$241,100.00