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Billing analyst hiring summary. Here are some key points about hiring billing analysts in the United States:
Here's a step-by-step billing analyst hiring guide:
A billing analyst is responsible for supporting the operations of an accounting department, evaluating and issuing invoices, and analyzing the financial transactions of the company. Billing analysts assist with creating financial statements and reports, managing billing discrepancies, updating recent account statements on the company's database, and checking the accuracy of balance sheets. A billing analyst must have excellent analytical skills, as well as the knowledge of the accounting principles, performing account reconciliations, processing receivables, and tracking clients' billing statements.
First, determine the employments status of the billing analyst you need to hire. Certain billing analyst roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
A billing analyst's background is also an important factor in determining whether they'll be a good fit for the position. For example, billing 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.
The following list breaks down different types of billing analysts and their corresponding salaries.
| Type of Billing Analyst | Description | Hourly rate |
|---|---|---|
| Billing Analyst | Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions. | $16-35 |
| Accounts Receivable Clerk | An Accounts Receivable Clerk specializes in processing payment records and bill statements of a company or organization. Among the duties include calculating total revenues and unpaid invoices, maintaining financial records and keeping a detailed and organized database, and verifying financial transactions and payment delinquencies... Show more | $13-21 |
| Payment Processor | A payment processor is responsible for managing and informing the clients of their payment obligations for the services offered by a financial institution or other related organizations. Payment processors record transactions and ensure the timely completion of account statements... Show more | $12-20 |
Including a salary range in your billing analyst job description is one of the best ways to attract top talent. A billing analyst can vary based on:
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | District of Columbia | $80,582 | $39 |
| 2 | Washington | $67,424 | $32 |
| 3 | Maryland | $66,174 | $32 |
| 4 | New York | $65,748 | $32 |
| 5 | California | $63,587 | $31 |
| 6 | Massachusetts | $60,432 | $29 |
| 7 | Pennsylvania | $58,598 | $28 |
| 8 | Illinois | $58,121 | $28 |
| 9 | Texas | $56,510 | $27 |
| 10 | Oregon | $56,056 | $27 |
| 11 | Virginia | $53,721 | $26 |
| 12 | West Virginia | $51,384 | $25 |
| 13 | Ohio | $51,059 | $25 |
| 14 | Minnesota | $48,298 | $23 |
| 15 | Colorado | $48,273 | $23 |
| 16 | Georgia | $47,373 | $23 |
| 17 | North Carolina | $47,247 | $23 |
| 18 | Arizona | $46,873 | $23 |
| 19 | Florida | $46,342 | $22 |
| 20 | Louisiana | $45,589 | $22 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Meta | $100,266 | $48.20 | 6 |
| 2 | Amdocs | $96,065 | $46.19 | |
| 3 | Duquesne Light Company | $90,650 | $43.58 | |
| 4 | eBay | $88,882 | $42.73 | |
| 5 | Berkshire Hathaway | $83,841 | $40.31 | 2 |
| 6 | Amazon | $80,134 | $38.53 | 4 |
| 7 | Kent Daniels & Associates | $76,676 | $36.86 | 10 |
| 8 | STV Group | $76,511 | $36.78 | |
| 9 | BlackRock | $75,603 | $36.35 | 1 |
| 10 | Battelle | $75,491 | $36.29 | |
| 11 | Paul, Weiss, Rifkind, Wharton & Garrison | $73,443 | $35.31 | 8 |
| 12 | Citi | $72,630 | $34.92 | 5 |
| 13 | Mayer Brown | $71,813 | $34.53 | 2 |
| 14 | Bloomberg | $70,967 | $34.12 | |
| 15 | Priority Techno Holdings Inc. | $70,086 | $33.70 | |
| 16 | Navigant Consulting | $69,309 | $33.32 | |
| 17 | Cirrus Aircraft | $68,408 | $32.89 | |
| 18 | Deloitte | $67,873 | $32.63 | 870 |
| 19 | Alameda Health System | $67,248 | $32.33 | |
| 20 | Baptist Health Care | $66,047 | $31.75 | 2 |
A job description for a billing 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 a billing analyst job description:
There are a few common ways to find billing analysts for your business:
During your first interview to recruit billing analysts, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the billing analyst candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
Once that's done, you can draft an onboarding schedule for the new billing analyst. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
Recruiting billing analysts involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.
Billing analysts earn a median yearly salary is $51,544 a year in the US. However, if you're looking to find billing analysts for hire on a contract or per-project basis, hourly rates typically range between $16 and $35.