Principal - Incentive Compensation

PharmaACE is a growing Global Healthcare Consulting Firm, headquartered in Princeton, New Jersey. Our expert teams of Business Analysts, based across the US, Canada, Europe, and India, provide Analytics and Business Solutions using our worldwide delivery models for a wide range of clients. Our clients include established, multinational BioPharma leaders and innovators, as well as entrepreneurial firms on the cutting edge of science. We have deep expertise in Forecasting, Business Analytics, Competitive Intelligence, Sales Analytics, and the Analytics Centre of Excellence Model. Our wealth of therapeutic area experience cuts across Oncology, Immuno- science, CNS, CV-Met, and Rare Diseases. We support our clients' needs in Primary Care, Specialty Care, and Hospital business units, and we have managed portfolios in the Biologics space, Branded Pharmaceuticals, Generics, APIs, Diagnostics, and Packaging & Delivery Systems.

Role Overview:

As the Incentive Compensation Analytics Lead, you will spearhead the design, administration, and analysis of sales force incentive programs within the life sciences sector. Your expertise will drive data-informed decision-making, optimize sales performance, and ensure alignment with business objectives.

Key Responsibilities:

Incentive Compensation Strategy & Execution:

• Lead the design and implementation of incentive compensation plans, ensuring alignment with sales objectives and business goals.
• Oversee the end-to-end administration of incentive programs, including goal setting, plan design, and payout calculations.
• Utilize commercial data sets (e.g., DDD, NPA, NSP, APLD, Rx, SP, SD, call activity, CRM data) to inform incentive strategies and drive commercial effectiveness.
• Collaborate with cross-functional teams to ensure seamless integration of incentive programs across sales, finance, and HR departments.

Data Analytics & Reporting:

• Conduct comprehensive analyses to evaluate the effectiveness of incentive plans and identify areas for improvement.
• Develop and maintain dashboards and reports to track key performance indicators and provide actionable insights to stakeholders.
• Ensure data integrity and accuracy in all incentive-related reporting and analytics.

Leadership & Team Development:

• Mentor and guide a team of analysts, fostering a culture of continuous learning and professional growth.
• Provide input into performance appraisals and career development plans for team members.
• Collaborate with HR to support talent acquisition and retention strategies within the analytics team.

Stakeholder Engagement & Communication:

• Serve as the primary point of contact for senior leadership regarding incentive compensation strategies and outcomes.
• Communicate complex analytical findings in a clear and concise manner to non-technical stakeholders.
• Build and maintain strong relationships with internal and external stakeholders to support business objectives.

Qualifications:

• Education:

  MBA, B Pharma, M Pharma, B Tech, BE, M Tech, or ME in Life Sciences, Engineering, or a related field.

• Experience:

  Minimum of 15 years in incentive compensation analytics, with at least 5 years in a leadership role within the life sciences or pharmaceutical industry.

• Technical Skills:

  Advanced proficiency in SQL, Excel (including VBA and Power Query), and PowerPoint. Experience with BI tools such as Tableau or Power BI is preferred.

• Analytical Skills:

  Strong analytical mindset with the ability to interpret complex data and provide actionable insights.

• Communication Skills:

  Excellent verbal and written communication skills, with the ability to present data-driven recommendations to senior leadership.

• Leadership Skills:

  Proven track record in leading and developing high-performing teams.

• Industry Knowledge:

  Familiarity with pharmaceutical commercial data sets and sales operations processes is highly desirable.

Other Competencies:

• Entrepreneurial orientation with a process-driven mindset.
• Customer-centric approach with meticulous attention to detail.
• Innovative and collaborative behavior, with a strong team orientation.
• Adaptability and flexibility to meet evolving business needs.