Lead Compensation Analyst

About Lyra Health Lyra Health is a leading provider of evidence-based mental health care, serving more than 20 million people globally in partnership with employers and more than 100 million through health plan and partner relationships. The company has delivered more than 15 million sessions of mental health care, published more than 35 peer-reviewed studies, and delivered unmatched outcomes in terms of access, clinical effectiveness, and cost efficiency. Extensive peer-reviewed research confirms Lyra’s transformative care model helps people recover twice as fast and results in a 26% annual reduction in overall healthcare claims costs. Lyra is transforming access to life-changing mental health care through Lyra Empower, the only fully integrated, AI-powered platform combining the highest-quality care and technology solutions. About the Role: The Lead Compensation Analyst manages core global compensation processes and serves as an advisor to HR and business leaders. Reporting to the Director, Global Compensation, this lead individual contributor role blends data modeling with business consultation to keep our pay practices competitive, fair, and compliant across all operational regions. In this role, you will lead the annual global compensation cycle, administer short- and long-term incentive programs, manage job leveling and market benchmarking, and run key total rewards initiatives. You will partner directly with HR Business Partners, Talent Acquisition, Finance, and Sales Operations, while helping managers and employees better understand our compensation philosophy and structures. Responsibilities 1. Compensation Consultation & Business Partnership • Act as the primary compensation advisor for HR Business Partners, Talent Acquisition, and business leaders—providing guidance on candidate offers, promotions, market adjustments, job evaluation and leveling, and other elements of compensation. • Partner with leaders to explain market trends, pay practices, and policy application across different regions. • Work cross-functionally with Sales Operations and Finance on shared compensation initiatives to ensure operational alignment, accurate budgeting, and proper plan governance. 2. Job Evaluation, Incentive Design & Market Benchmarking • Evaluate and market-price new and evolving roles to recommend job levels, salary bands, and job family placements. • Lead benchmarking projects using survey data to evaluate market competitiveness and recommend updates to pay structures. • Maintain the global job catalog and architecture, suggesting updates to leveling guidelines and benchmarking standards as the organization grows. • Support the analysis, evaluation, and administration of short-term (bonus) and long-term (equity/LTI) incentive programs to ensure they align with business objectives and drive performance. 3. Annual Compensation Cycle Administration • Lead the end-to-end planning and execution of the global annual compensation review cycle (merit, promotions, equity allocations, and short-term incentives)—including eligibility audits, budget analysis, Workday testing, payout calculations, and post-cycle audits. • Model merit budgets, incentive payout forecasts, and cost scenarios for HR and Finance leadership, while tracking cycle timelines, approval workflows, and policy exceptions. • Partner with Communications and Talent Development to create and deliver clear manager guidelines, timelines, and training resources for a smooth cycle. 4. Data Analysis, Reporting & Process Improvement • Analyze internal pay data to conduct pay equity reviews, run cost scenarios, and evaluate market positioning. • Turn complex datasets into clear summaries, dashboards, and executive presentations to support decision-making. • Serve as the functional expert for compensation systems; partner with HRIS on Workday updates, configuration testing, data integrity, and process improvements. • Identify opportunities to leverage modern AI tools and technology to automate manual reporting, streamline data workflows, and improve operational efficiency across compensation operations. 5. Training, Compliance & Project Management • Build and deliver compensation training materials to help managers and employees understand pay structures, our compensation philosophy, and how to navigate compensation conversations. • Maintain active oversight of wage and hour regulations, local and global pay transparency laws, and labor compliance regulations across operating regions. • Manage projects independently. Qualifications Education & Experience Requirements • Education: Bachelor’s degree in Human Resources, Business, Finance, Accounting, Economics, or a related field (or equivalent work experience). • Compensation Experience: 7+ years of progressive compensation experience with strong hands-on background in program administration, job evaluation, short-term incentives, and market benchmarking across multi-region or global operations (e.g., Americas, EMEA, APAC). • HRIS Skills: Direct experience with Workday (both Core Compensation and Advanced Compensation modules required). • Analytical Skills: Advanced proficiency in Excel or Google Sheets, with a proven ability to model, audit, and analyze complex datasets. • Benchmarking Platforms: Hands-on experience using market pricing platforms and global salary survey data. • Communication & Influence: Strong consultative and presentation skills, with a track record of building trust with leaders, explaining pay concepts clearly to non-HR audiences, and partnering effectively with HR and Finance teams. Knowledge, Skills & Competencies • Deep understanding of job evaluation methodologies, market pricing, salary structures, incentive plan mechanics (STI/LTI), and annual review cycles. • Strong working knowledge of compensation compliance regulations, including FLSA, global pay transparency legislation, and international pay practices. • Ability to run project