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Business analyst hiring summary. Here are some key points about hiring business analysts in the United States:
Here's a step-by-step business analyst hiring guide:
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
Before you post your business 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 a business analyst for hire on a part-time basis or as a contractor.
You should also consider the ideal background you'd like them a business analyst to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a business analyst that fits the bill.
This list shows salaries for various types of business analysts.
| Type of Business Analyst | Description | Hourly rate |
|---|---|---|
| Business Analyst | A business analyst is someone who analyzes an organization or business domain (real or hypothetical) and documents its business or processes or systems, assessing the business model or its integration with technology. | $25-49 |
| Technical Analyst | A technical analyst is responsible for analyzing technical information and aligning it to the business strategies and procedures in meeting project goals. Technical analysts monitor technical system errors and provide immediate resolutions to ensure an efficient and smooth flow of operations... Show more | $28-44 |
| Developer Analyst | A developer analyst is a professional who is responsible for building application requirements and develops database solutions that allow operational efficiency and user-friendly tools. Developer analysts are required to develop a detailed definition of business solutions that can include database design, data flow, and transaction processing requirements... Show more | $30-54 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $91,966 | $44 |
| 2 | Washington | $88,529 | $43 |
| 3 | New Jersey | $81,060 | $39 |
| 4 | New York | $77,893 | $37 |
| 5 | District of Columbia | $76,558 | $37 |
| 6 | Connecticut | $76,558 | $37 |
| 7 | Delaware | $73,976 | $36 |
| 8 | Pennsylvania | $73,972 | $36 |
| 9 | Virginia | $73,886 | $36 |
| 10 | Illinois | $72,961 | $35 |
| 11 | North Carolina | $72,704 | $35 |
| 12 | Minnesota | $72,518 | $35 |
| 13 | Massachusetts | $72,421 | $35 |
| 14 | Arizona | $72,092 | $35 |
| 15 | Ohio | $71,698 | $34 |
| 16 | Michigan | $71,680 | $34 |
| 17 | Indiana | $69,804 | $34 |
| 18 | Nebraska | $68,075 | $33 |
| 19 | Missouri | $67,561 | $32 |
| 20 | Georgia | $67,262 | $32 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | The Citadel | $146,891 | $70.62 | 6 |
| 2 | Bunge | $129,370 | $62.20 | 4 |
| 3 | ICE Mortgage Technology | $128,671 | $61.86 | |
| 4 | Meta | $128,267 | $61.67 | 203 |
| 5 | Apple | $127,963 | $61.52 | 98 |
| 6 | Safeway | $127,372 | $61.24 | |
| 7 | Fundbox | $127,186 | $61.15 | |
| 8 | Pacific Investment Management Company LLC | $126,082 | $60.62 | 6 |
| 9 | $126,080 | $60.62 | 51 | |
| 10 | NVIDIA | $125,618 | $60.39 | 17 |
| 11 | Putnam Investments | $125,141 | $60.16 | |
| 12 | Relationship Science | $125,035 | $60.11 | |
| 13 | AEA Investors | $124,914 | $60.05 | |
| 14 | NerdWallet | $124,591 | $59.90 | 1 |
| 15 | Cambridge Associates | $124,498 | $59.85 | |
| 16 | $124,383 | $59.80 | 1 | |
| 17 | Western Digital | $124,287 | $59.75 | 1 |
| 18 | Centerbridge Partners | $124,118 | $59.67 | |
| 19 | ORIX USA | $123,209 | $59.24 | 6 |
| 20 | PayPal | $123,086 | $59.18 | 12 |
A good business analyst job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a business analyst job description:
To find the right business analyst for your business, consider trying out a few different recruiting strategies:
Your first interview with business analyst candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
While interviews are great, you will only sometimes learn enough from a conversation with a business analyst applicant. In those cases, having candidates complete a test project can go a long way in figuring out who's the most likely to succeed in the role. If you aren't a technical person and don't know how to design an appropriate test, you can ask someone else on the team to create it or take a look at these websites to get a few ideas:
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 business 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.
You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.
To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.
Hiring a business analyst comes with both the one-time cost per hire and ongoing costs. The cost of recruiting business analysts involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of business analyst recruiting as well the ongoing costs of maintaining the new employee.
Business analysts earn a median yearly salary is $74,431 a year in the US. However, if you're looking to find business analysts for hire on a contract or per-project basis, hourly rates typically range between $25 and $49.