Principal, Compensation

Bring Your Amazing Self to Work

At Macy's, Inc. we're on a mission to create a brighter future with bold representation for all. This is our Mission Every One. We know that each person here is unique. So we respect and invest in each individual to create growth, pride, and satisfaction. If we are able to bring our whole selves to work, it translates into a more abundant and wider array of ideas and energy for all to benefit from. Our success will be built on amazing colleagues, working together.

Job Overview

The Principal, Executive Compensation is an individual contributor who designs, executes, and manages enterprise-wide compensation programs with a special focus on senior executive pay, including ownership of the annual incentive program as well as supporting deliverables needed for the Compensation and Management Development Committee of the Board. This position offers an excellent opportunity to collaborate with a broad range of colleagues across the organization, including senior management.

What You Will Do

Support for Executive Compensation Function

• Create materials for the Compensation and Management Development Committee (CMDC) related to the short-term incentive program and other topics, including meeting preparation resources.
• Assist in the development of public disclosures, including the compensation sections of the annual proxy statement and other filings, ensuring compliance with governance requirements.
• Stay updated on trends, regulatory changes, best practices, and peer practices related to Executive Compensation.
• Ensure compliance with relevant governance requirements and internal/external audit practices across all areas of responsibility.

Management of Short-Term Incentive Program

• Manage the short-term incentive program from start to finish, including design, scenario evaluation, modeling and analysis, financial planning and projections, communications and education, implementation, and administration.
• Stay informed about trends in short-term incentive programs to provide thought leadership and develop materials that facilitate discussion and decision-making.
• Collaborate with key stakeholders within and outside the compensation function to inform decision-making and gain a deep understanding of the nuances essential for effective program design.
• Provide regular updates on the performance of the short-term incentive program to plan participants and senior management.
• Partner with stakeholders, including Compensation team members, HR Tech, payroll, benefits, finance, and tax, to ensure accurate STI processing, payouts, and budgets, utilizing tools such as Oracle HCM/WFC.
• Offer customer service to plan participants, People Leaders, and HR partners by addressing inquiries on various topics related to the plan, such as eligibility and payout calculations, while ensuring collaboration with relevant stakeholders.

Development of Competitive Compensation Packages

• Provide advisory to Senior Human Resource Business Partners and Talent Acquisition on the development of compensation packages for senior leaders (VP+)
• Ensure that compensation packages are competitive and support the attraction, retention, and career growth of leaders while maintaining enterprise parity and perspective.
• Gain a thorough understanding of outstanding compensation programs, peer groups, and compensation history to support recommendations.
• Conduct periodic reviews of offer materials related to compensation programs to ensure accuracy.

Skills You Will Need

Curiosity and Research: Thrives in environments that encourage iterative workflows and continual feedback. Highly curious and committed to staying up to date with industry practices and job responsibilities.

Communication and Storytelling Skills: Exceptional ability to communicate complex information clearly and effectively, both verbally and in presentation materials, to facilitate decision-making at all levels.

Collaboration and Stakeholder Engagement: Strong skills in collaborating with key stakeholders across various functions, including compensation, HR Tech, payroll, and finance. Ability to build relationships and inform decision-making through effective communication.

Critical Thinking and Analytical Skills: Ability to navigate complex issues using conceptual thinking, advanced analytics, and creative approaches to develop effective alternatives. Well-developed analytical and modeling skills to assess the financial and operational impact of compensation programs. Proficiency in HR systems (e.g., Oracle HCM), Excel, and VBA is preferred.

Balance Purpose and Details: Equally excited to engage in thought leadership and program design activities while also executing detailed day-to-day processes with high degree of accuracy and pride in work.

Professionalism: High degree of integrity, discretion, and professionalism in handling confidential information.

Who You Are

• Dedicated to fulfilling ideals of diversity, inclusion, and respect that Macy's aspires to achieve every day in every way.
• Candidates with a bachelor's degree or equivalent work experience in a related field are encouraged to apply. 8+ years of progressive experience in compensation or transferable field (finance, human resources)
• Regularly required to sit, talk, hear; use hands/fingers to touch, handle, and feel. Occasionally required to move about the workplace and reach with hands and arms. Requires close vision.
• Able to work a flexible schedule based on department and company needs.

What We Can Offer You

• An inclusive, challenging, and refreshingly fun work environment
• Competitive pay and benefits rooted in principles of equity
• Performance incentives and annual merit review
• Merchandise discounts
• Health and Wellness Benefits across medical, dental, vision, and additional insurance
• Retirement Savings Plan with 401k match opportunity
• Employee Assistance Program (mental health counseling and legal/financial advice)
• Resources for continuous learning, career growth, and leadership development
• 8 paid holidays
• Paid Time Off (first year prorated depending on start date)
• Tuition reimbursement program
• Guild education benefit funds 100% of tuition, books, and fees in designated programs
• Colleague Resource Groups (CRGs) and give-back/volunteer opportunities
• Empowerment and autonomy to perform impactful work with tangible results

About Macy's

Now is an exciting time for a Macy's career as we continue to focus on creating exciting and memorable experiences for every Macy's customer, whether their journey starts online or in the store. Our opportunities in Sales, Merchandise, Operations, Customer Service, Warehouse, Marketing, and other areas let you express your creativity and commitment to excellence, grow your career and make a difference to your Macy's colleagues and customers.

Bring your creativity, energy, and ideas to the Macy's team - Apply Today!

This job description is not all-inclusive. Macy's, Inc. reserves the right to amend this job description at any time. Macy's, Inc. is an Equal Opportunity Employer, committed to a diverse and inclusive work environment.

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