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Allocation analyst hiring summary. Here are some key points about hiring allocation analysts in the United States:
Here's a step-by-step allocation analyst hiring guide:
In the retail industry, an allocation analyst is in charge of providing analytical services to optimize a company's supply chain operations. Among their responsibilities include performing market research and analysis, determining the customers' purchase needs, managing product inventory, coordinating with store managers, gathering and analyzing data from internal and external parties, keeping abreast with the latest trends, and developing strategies to reach sales and inventory targets. Moreover, an allocation analyst must maintain an active communication line with staff while enforcing and promoting the company's policies and regulations.
Before you post your allocation analyst job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find an allocation analyst for hire on a part-time basis or as a contractor.
An allocation analyst's background is also an important factor in determining whether they'll be a good fit for the position. For example, allocation analysts from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
Here's a comparison of allocation analyst salaries for various roles:
| Type of Allocation Analyst | Description | Hourly rate |
|---|---|---|
| Allocation Analyst | Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price. | $22-43 |
| Marketing Representative | A marketing representative's responsibilities will vary on the line of work or industry. However, it is the role of a marketing representative to engage with clients and secure sales by promoting, demonstrating, and even advertising products or services... Show more | $13-37 |
| Research Internship | A research intern is responsible for assisting the research team with conducting an investigation, compiling information, and analyzing results for an organized research study. Research interns' duties also include understanding the work processes and operation procedures, sharing strategies and recommendations on research methods, reaching out to appropriate research correspondents, managing clients' inquiries and concerns, keeping important client records for reference, studying current market trends, and maintaining the eagerness to learn... Show more | $12-28 |
Including a salary range in your allocation analyst job description is one of the best ways to attract top talent. An allocation analyst can vary based on:
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Delaware | $94,434 | $45 |
| 2 | New York | $84,811 | $41 |
| 3 | Massachusetts | $77,211 | $37 |
| 4 | Ohio | $75,285 | $36 |
| 5 | Virginia | $74,377 | $36 |
| 6 | New Jersey | $73,502 | $35 |
| 7 | Maryland | $71,845 | $35 |
| 8 | California | $71,398 | $34 |
| 9 | Texas | $67,597 | $33 |
| 10 | New Hampshire | $67,521 | $32 |
| 11 | Oregon | $66,280 | $32 |
| 12 | Iowa | $64,569 | $31 |
| 13 | Colorado | $63,638 | $31 |
| 14 | Georgia | $62,239 | $30 |
| 15 | North Dakota | $60,455 | $29 |
| 16 | South Carolina | $59,793 | $29 |
| 17 | Nevada | $59,685 | $29 |
| 18 | Louisiana | $59,330 | $29 |
| 19 | Wyoming | $57,181 | $27 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Wellington Management | $86,564 | $41.62 | |
| 2 | PVH | $86,132 | $41.41 | 1 |
| 3 | Deckers Brands | $79,417 | $38.18 | |
| 4 | Gap Inc. | $77,466 | $37.24 | |
| 5 | Allbirds | $77,203 | $37.12 | |
| 6 | Vineyard Vines | $72,898 | $35.05 | |
| 7 | VF | $72,547 | $34.88 | |
| 8 | Under Armour | $71,885 | $34.56 | 1 |
| 9 | Dollar Tree | $70,422 | $33.86 | |
| 10 | Columbia Sportswear | $70,343 | $33.82 | |
| 11 | Forever 21 | $70,201 | $33.75 | |
| 12 | Aeropostale | $69,676 | $33.50 | |
| 13 | Voya Financial | $68,959 | $33.15 | 4 |
| 14 | Burlington | $68,810 | $33.08 | 2 |
| 15 | Crocs | $68,189 | $32.78 | |
| 16 | Global Atlantic Financial Group Limited | $66,443 | $31.94 | 4 |
| 17 | Dollar General | $66,249 | $31.85 | |
| 18 | Blackstone Group | $66,137 | $31.80 | |
| 19 | Skechers | $65,851 | $31.66 | 2 |
| 20 | Ross Stores | $65,530 | $31.50 | 2 |
A job description for an allocation analyst role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's an allocation analyst job description:
To find allocation analysts for your business, try out a few different recruiting strategies:
Recruiting allocation analysts requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the allocation analyst position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
To prepare for the new allocation analyst first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
Before you start to hire allocation analysts, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire allocation analysts pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
The median annual salary for allocation analysts is $65,773 in the US. However, the cost of allocation analyst hiring can vary a lot depending on location. Additionally, hiring an allocation analyst for contract work or on a per-project basis typically costs between $22 and $43 an hour.