This happens to be one of the most specialized and crucial domains under human resource management. A career in compensation and benefit management usually deals with HR Controlling, setting the rules and procedures around the salaries, variable pay and benefits. This is often a tricky job and is very much connected to the competition of the rival market forces.
A person who works in this domain should be able to develop new compensation strategies through creative input combined with data analysis and a deep understanding of the company's future challenges (bonus plans, market position, salary range design, pay mix analysis). In the study module you will be thought how to carry out compensation surveys and evolve an appropriate compensation structure for an organisation.
You will also learn to develop salary structures, incentive packages and benchmark salaries. The course would also deal with taxation aspects of compensation management, payroll management process, international compensation structures and also knowledge of legal compliances with respect to compensation and benefits.