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Competitive intelligence analyst hiring summary. Here are some key points about hiring competitive intelligence analysts in the United States:
Here's a step-by-step competitive intelligence analyst hiring guide:
A competitive intelligence analyst specializes in recommending solutions to optimize a company's sales performance and business plans. They conduct extensive research and analysis to identify market trends, new business opportunities, client needs, and competitor strategies. Using their research findings, they produce and recommend new business plans and policies to help companies reach their short and long-term goals. Furthermore, as a competitive intelligence analyst, it is essential to develop solutions and suggest actions while adhering to the company's standards and regulations.
First, determine the employments status of the competitive intelligence analyst you need to hire. Certain competitive intelligence analyst roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
A competitive intelligence analyst's background is also an important factor in determining whether they'll be a good fit for the position. For example, competitive intelligence 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.
This list presents competitive intelligence analyst salaries for various positions.
| Type of Competitive Intelligence Analyst | Description | Hourly rate |
|---|---|---|
| Competitive Intelligence Analyst | Police officers protect lives and property. Detectives and criminal investigators, who are sometimes called agents or special agents, gather facts and collect evidence of possible crimes. | $24-46 |
| Analyst | Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes... Show more | $25-47 |
| Military Analyst | Military analysts are military professionals who work in the government or the armed forces to gather military information and make suggestions for an efficient course of action based on their findings. These analysts are required to keep detailed records while communicating information to multiple parties at once... Show more | $28-63 |
Including a salary range in the competitive intelligence analyst job description is a good way to get more applicants. A competitive intelligence analyst 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 competitive intelligence analyst in Alabama may be lower than in California, and an entry-level engineer typically earns less than a senior-level competitive intelligence analyst. Additionally, a competitive intelligence analyst with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $103,427 | $50 |
| 2 | District of Columbia | $83,781 | $40 |
| 3 | New Jersey | $77,403 | $37 |
| 4 | Virginia | $75,373 | $36 |
| 5 | Oregon | $74,656 | $36 |
| 6 | Massachusetts | $74,063 | $36 |
| 7 | Connecticut | $73,944 | $36 |
| 8 | New York | $73,715 | $35 |
| 9 | Illinois | $73,044 | $35 |
| 10 | Washington | $71,140 | $34 |
| 11 | Colorado | $69,259 | $33 |
| 12 | Rhode Island | $69,199 | $33 |
| 13 | Nevada | $69,095 | $33 |
| 14 | Michigan | $68,497 | $33 |
| 15 | Pennsylvania | $67,484 | $32 |
| 16 | Texas | $67,094 | $32 |
| 17 | Minnesota | $66,554 | $32 |
| 18 | Iowa | $64,664 | $31 |
| 19 | New Hampshire | $64,039 | $31 |
| 20 | Utah | $63,447 | $31 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Xoom | $118,127 | $56.79 | |
| 2 | Fortune International Group | $107,737 | $51.80 | |
| 3 | General Motors | $103,862 | $49.93 | 7 |
| 4 | Bristol-Myers Squibb | $102,724 | $49.39 | |
| 5 | Kronos Incorporated | $99,875 | $48.02 | |
| 6 | QuintilesIMS | $97,537 | $46.89 | |
| 7 | Vertex Pharmaceuticals | $93,339 | $44.87 | |
| 8 | Northwestern Mutual | $93,245 | $44.83 | |
| 9 | Corning Incorporated | $92,980 | $44.70 | 4 |
| 10 | Compass Lexecon | $91,875 | $44.17 | |
| 11 | NRG Energy | $91,800 | $44.13 | |
| 12 | Motorola Solutions | $89,175 | $42.87 | |
| 13 | Lenovo | $89,055 | $42.81 | 2 |
| 14 | Cigna | $88,213 | $42.41 | |
| 15 | IBM | $87,959 | $42.29 | |
| 16 | Sandia National Labs | $87,062 | $41.86 | |
| 17 | Yes Virginia | $86,604 | $41.64 | |
| 18 | Elbit Systems of America | $85,790 | $41.25 | |
| 19 | Kimberly-Clark | $84,868 | $40.80 | |
| 20 | McKesson | $84,820 | $40.78 | 3 |
A competitive intelligence analyst 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 competitive intelligence analyst job description:
To find the right competitive intelligence analyst for your business, consider trying out a few different recruiting strategies:
To successfully recruit competitive intelligence analysts, 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 found the competitive intelligence 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.
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 competitive intelligence analyst. 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 competitive intelligence analysts. 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 competitive intelligence analyst employee.
The median annual salary for competitive intelligence analysts is $70,693 in the US. However, the cost of competitive intelligence analyst hiring can vary a lot depending on location. Additionally, hiring a competitive intelligence analyst for contract work or on a per-project basis typically costs between $24 and $46 an hour.