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Business partner hiring summary. Here are some key points about hiring business partners in the United States:
Here's a step-by-step business partner hiring guide:
A business partner is an individual who is involved in a legal business partnership with other individuals to manage a business as co-owners. Business partners invest their money into the business, and each partner benefits from any profits and sustains part of any losses. They must file with the state in which they do business and are governed mostly by state laws. Business partners can also be either liable or not for the actions taken by the company.
The business partner hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
Hiring the perfect business partner also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.
This list shows salaries for various types of business partners.
| Type of Business Partner | Description | Hourly rate |
|---|---|---|
| Business Partner | Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, sales agents, and financial staff members. | $31-67 |
| Head Of Business Development | A head of business development is responsible for monitoring the company's overall business operations and client transactions. Heads of business development coordinate with clients for their requirements and specifications and develop the team to handle the project management operations... Show more | $45-91 |
| Business To Business Sales Manager | A business to business sales manager is responsible for monitoring the company's business transactions and ensuring that the team meets sales goals and targets. Business to business sales managers review business accounts and perform adjustments to sales plans as needed to adhere to clients' requests and customer demands... Show more | $20-62 |
Including a salary range in the business partner job description is a good way to get more applicants. A business partner salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a business partner in Mississippi may be lower than in Washington, and an entry-level engineer typically earns less than a senior-level business partner. Additionally, a business partner with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $130,111 | $63 |
| 2 | Washington | $126,117 | $61 |
| 3 | New York | $118,527 | $57 |
| 4 | New Jersey | $117,721 | $57 |
| 5 | District of Columbia | $112,327 | $54 |
| 6 | Oregon | $109,013 | $52 |
| 7 | Pennsylvania | $108,013 | $52 |
| 8 | Massachusetts | $102,487 | $49 |
| 9 | New Hampshire | $101,503 | $49 |
| 10 | Rhode Island | $98,799 | $48 |
| 11 | Michigan | $97,172 | $47 |
| 12 | Connecticut | $96,829 | $47 |
| 13 | Illinois | $96,094 | $46 |
| 14 | Maryland | $95,730 | $46 |
| 15 | Delaware | $95,108 | $46 |
| 16 | Maine | $92,783 | $45 |
| 17 | Ohio | $92,290 | $44 |
| 18 | Virginia | $92,019 | $44 |
| 19 | Texas | $91,739 | $44 |
| 20 | North Carolina | $90,181 | $43 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | ZS | $152,389 | $73.26 | 7 |
| 2 | Meta | $147,739 | $71.03 | 147 |
| 3 | NVIDIA | $147,204 | $70.77 | 23 |
| 4 | Cambridge Associates | $146,738 | $70.55 | 4 |
| 5 | $141,140 | $67.86 | 71 | |
| 6 | VMware | $140,185 | $67.40 | |
| 7 | Apple | $139,289 | $66.97 | 41 |
| 8 | Citi | $136,182 | $65.47 | 13 |
| 9 | Credit Suisse | $136,153 | $65.46 | |
| 10 | SAP | $135,960 | $65.37 | 70 |
| 11 | GoPro | $133,425 | $64.15 | |
| 12 | Varian Medical Systems | $132,994 | $63.94 | |
| 13 | Schrödinger Inc | $132,713 | $63.80 | |
| 14 | Genentech | $132,508 | $63.71 | 15 |
| 15 | Asana | $132,435 | $63.67 | 5 |
| 16 | Institute of Nuclear Power Operations | $132,423 | $63.66 | |
| 17 | Cloudflare | $132,125 | $63.52 | 7 |
| 18 | PayPal | $132,104 | $63.51 | 47 |
| 19 | Nomura Securities | $131,763 | $63.35 | 13 |
| 20 | AstraZeneca | $131,583 | $63.26 | 16 |
A business partner 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. To help get you started, here's an example of a business partner job description:
To find the right business partner for your business, consider trying out a few different recruiting strategies:
To successfully recruit business partners, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.
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 decided on a perfect business partner candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
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.
After that, you can create an onboarding schedule for a new business partner. 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 partners. 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 partner employee.
You can expect to pay around $96,324 per year for a business partner, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for business partners in the US typically range between $31 and $67 an hour.