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Business analyst/project manager hiring summary. Here are some key points about hiring business analyst/project managers in the United States:
Here's a step-by-step business analyst/project manager hiring guide:
A business analyst/project manager is responsible for developing project management procedures, analyzing processes, and ensuring the accuracy and efficiency of project deliverables, following clients' specifications and requirements to meet their highest satisfaction. Business analysts/project managers manage project resources, delegate tasks to project staff, setting deadlines, and coordinating with the clients for regular updates and suggest strategic adjustments as needed. They also mitigate potential risks and manage changes during the project execution, maintaining the quality of the outputs, and balancing costs to meet the clients' budget goals.
First, determine the employments status of the business analyst/project manager you need to hire. Certain business analyst/project manager roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
You should also consider the ideal background you'd like them a business analyst/project manager 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/project manager that fits the bill.
The following list breaks down different types of business analyst/project managers and their corresponding salaries.
| Type of Business Analyst/Project Manager | Description | Hourly rate |
|---|---|---|
| Business Analyst/Project Manager | Management analysts, often called management consultants, propose ways to improve the efficiency of an organization. They advise managers on how to make organizations more profitable through reduced costs and increased revenues. | $34-65 |
| Project Analyst | A project analyst is responsible for overseeing the development of new projects upon completion of data gathering. A project analyst must provide plans and design the project to its full potential... Show more | $25-46 |
| Project Manager/Scrum Master | Project Managers or scrum masters are experienced employees who lead an agile team. They are in charge of managing a specific project in terms of the agile model... Show more | $33-61 |
Including a salary range in your business analyst/project manager job description is one of the best ways to attract top talent. A business analyst/project manager can vary based on:
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $120,984 | $58 |
| 2 | New Jersey | $114,182 | $55 |
| 3 | District of Columbia | $114,074 | $55 |
| 4 | California | $113,957 | $55 |
| 5 | Washington | $106,560 | $51 |
| 6 | Connecticut | $105,598 | $51 |
| 7 | Massachusetts | $105,507 | $51 |
| 8 | Virginia | $102,442 | $49 |
| 9 | Pennsylvania | $95,005 | $46 |
| 10 | North Carolina | $94,940 | $46 |
| 11 | Arizona | $92,007 | $44 |
| 12 | Texas | $90,186 | $43 |
| 13 | Georgia | $89,543 | $43 |
| 14 | Illinois | $88,287 | $42 |
| 15 | Minnesota | $87,473 | $42 |
| 16 | Wisconsin | $85,365 | $41 |
| 17 | Michigan | $80,050 | $38 |
| 18 | Iowa | $79,330 | $38 |
| 19 | Florida | $77,924 | $37 |
| 20 | Ohio | $73,834 | $36 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Citi | $156,645 | $75.31 | 46 |
| 2 | Goldman Sachs | $144,178 | $69.32 | 24 |
| 3 | JPMorgan Chase & Co. | $143,606 | $69.04 | 370 |
| 4 | Morgan Stanley | $133,564 | $64.21 | 34 |
| 5 | BNP Paribas | $132,005 | $63.46 | 1 |
| 6 | Barclays | $131,159 | $63.06 | 1 |
| 7 | Sumitomo Mitsui Financial Group | $131,002 | $62.98 | 1 |
| 8 | AIG | $130,378 | $62.68 | 17 |
| 9 | Neuberger Berman | $130,358 | $62.67 | 8 |
| 10 | Slalom | $128,054 | $61.56 | 211 |
| 11 | Invesco | $127,876 | $61.48 | 9 |
| 12 | Nomura Securities | $127,835 | $61.46 | 16 |
| 13 | Infoblox | $125,853 | $60.51 | 3 |
| 14 | Northern Trust | $119,225 | $57.32 | 4 |
| 15 | Varian Medical Systems | $118,851 | $57.14 | |
| 16 | Autodesk | $117,737 | $56.60 | 20 |
| 17 | Nitto Avecia | $116,959 | $56.23 | |
| 18 | UBS | $114,476 | $55.04 | 2 |
| 19 | Philips Lighting North America | $111,910 | $53.80 | |
| 20 | Randstad North America, Inc. | $111,097 | $53.41 | 17 |
A business analyst/project manager job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a business analyst/project manager job description:
To find business analyst/project managers for your business, try out a few different recruiting strategies:
Your first interview with business analyst/project manager 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.
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've selected the best business analyst/project manager candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing 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.
After that, you can create an onboarding schedule for a new business analyst/project manager. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
There are different types of costs for hiring business analyst/project managers. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new business analyst/project manager employee.
The median annual salary for business analyst/project managers is $99,882 in the US. However, the cost of business analyst/project manager hiring can vary a lot depending on location. Additionally, hiring a business analyst/project manager for contract work or on a per-project basis typically costs between $34 and $65 an hour.