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Development research analyst hiring summary. Here are some key points about hiring development research analysts in the United States:
Here's a step-by-step development research analyst hiring guide:
A development research analyst specializes in conducting research and analyses to help companies in making decisions or finding solutions against problem areas. As a development research analyst, it is their duty to understand and identify the project or the clients' needs, gather and analyze data from different sources, conduct interviews and surveys, perform assessments, and utilize the research findings to develop conclusions and recommendations. Moreover, a development research analyst usually works in a team setting, which requires an open communication line for successful outcomes.
Before you start hiring a development research analyst, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
You should also consider the ideal background you'd like them a development research 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 development research analyst that fits the bill.
The following list breaks down different types of development research analysts and their corresponding salaries.
| Type of Development Research Analyst | Description | Hourly rate |
|---|---|---|
| Development Research Analyst | Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price. | $22-50 |
| Analyst Internship | An analyst internship is a student program where an intern is assigned to assist analyst professionals by analyzing business goals, objectives, and needs. Analyst interns assist in the planning and designing of business processes and suggest recommendations for improvement... Show more | $13-25 |
| Analyst Sales | Analyst sales, or a sales analyst, is a professional who is responsible for increasing sales and revenue of a company by running competitive analysis and making recommendations on how the marketing and sales team should move forward. Sales analysts must assist in the review of monthly financial statements and prepare complex financial statements for retail and service businesses... Show more | $22-47 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $90,064 | $43 |
| 2 | North Carolina | $86,956 | $42 |
| 3 | Washington | $86,476 | $42 |
| 4 | Maryland | $83,504 | $40 |
| 5 | Massachusetts | $80,490 | $39 |
| 6 | Colorado | $79,980 | $38 |
| 7 | California | $78,935 | $38 |
| 8 | New Jersey | $78,624 | $38 |
| 9 | District of Columbia | $75,732 | $36 |
| 10 | Ohio | $75,344 | $36 |
| 11 | Illinois | $75,192 | $36 |
| 12 | Tennessee | $67,794 | $33 |
| 13 | Michigan | $67,216 | $32 |
| 14 | Oregon | $66,302 | $32 |
| 15 | Connecticut | $65,625 | $32 |
| 16 | Texas | $64,508 | $31 |
| 17 | Indiana | $63,922 | $31 |
| 18 | Kentucky | $62,796 | $30 |
| 19 | Georgia | $62,256 | $30 |
| 20 | New Mexico | $62,076 | $30 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | T.D. Williamson | $119,825 | $57.61 | |
| 2 | SAS Institute | $113,285 | $54.46 | 15 |
| 3 | JPMorgan Chase & Co. | $105,944 | $50.93 | 208 |
| 4 | General Motors | $105,231 | $50.59 | 71 |
| 5 | AQR Capital Management | $104,448 | $50.22 | 5 |
| 6 | Ernst & Young | $103,604 | $49.81 | 68 |
| 7 | VMware | $101,379 | $48.74 | |
| 8 | Sandia National Labs | $98,969 | $47.58 | 87 |
| 9 | QuintilesIMS | $98,145 | $47.19 | 89 |
| 10 | Philips | $98,119 | $47.17 | 1 |
| 11 | Blackboard | $93,151 | $44.78 | |
| 12 | Ironwood Pharmaceuticals | $92,025 | $44.24 | |
| 13 | Oak Ridge National Laboratory | $91,487 | $43.98 | 34 |
| 14 | Farmers Insurance | $89,181 | $42.88 | |
| 15 | Wikimedia Foundation | $85,126 | $40.93 | |
| 16 | Houlihan Lokey | $83,311 | $40.05 | 2 |
| 17 | P&G | $81,893 | $39.37 | 32 |
| 18 | SafeAuto | $81,222 | $39.05 | |
| 19 | EMD Millipore | $80,653 | $38.78 | |
| 20 | Level One Bank | $80,629 | $38.76 |
A development research 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 development research analyst job description:
There are a few common ways to find development research analysts for your business:
Recruiting development research analysts requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you 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 have selected a candidate for the development research 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.
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.
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.
Recruiting development research 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.
You can expect to pay around $70,829 per year for a development research analyst, 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 development research analysts in the US typically range between $22 and $50 an hour.