I have used the Economic Research Institute for nearly 20 years when conducting compensation analysis. And no, I'm not affiliated. I just pay the money and use the tool because it's the best I've found out there. They also have training available on their site that is very helpful.
If you're new to compensation analysis, my best advice is to start by understanding the core principles of pay structures, market data, and the legal landscape. I found it helpful to learn the basics of salary benchmarking—comparing internal compensation data to external market rates—so you can make informed recommendations. A great resource I used when I started was Salary.com, which provides comprehensive data and guides on market trends. I also recommend taking courses on platforms like LinkedIn Learning or Coursera, specifically in compensation management and HR analytics. These resources will give you the foundational knowledge and tools needed to assess pay equity, design compensation plans, and analyze trends effectively. Lastly, I'd suggest working closely with HR and finance teams to understand how compensation impacts the broader business strategy. Hands-on experience and continuous learning will solidify your understanding.