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Finance management analyst hiring summary. Here are some key points about hiring finance management analysts in the United States:
Here's a step-by-step finance management analyst hiring guide:
A finance management analyst specializes in performing extensive research and analysis to devise strategies that can help a company achieve its long-term financial goals. Their responsibilities typically revolve around having an in-depth understanding of the company and its services, gathering and reviewing its financial history and other portfolios, and determining investment opportunities to earn a significant profit. Furthermore, a finance management analyst must report their findings and present action plans, providing a comprehensive explanation to officials, all while adhering to the company's policies and regulations.
Before you start hiring a finance management 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.
Hiring the perfect finance management analyst 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.
The following list breaks down different types of finance management analysts and their corresponding salaries.
| Type of Finance Management Analyst | Description | Hourly rate |
|---|---|---|
| Finance Management Analyst | 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. | $23-50 |
| 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 |
| Finance Officer | A finance officer is responsible for monitoring the financial department and the transactions of an organization. Finance officers analyze financial reports, update account statements, and oversee the budget allocation for business operations... Show more | $20-52 |
Including a salary range in your finance management analyst job description helps attract top candidates to the position. A finance management analyst salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for a finance management analyst in Nebraska may be lower than in New York, and an entry-level finance management analyst usually earns less than a senior-level finance management analyst. Additionally, a finance management analyst with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | District of Columbia | $106,356 | $51 |
| 2 | New York | $91,237 | $44 |
| 3 | Massachusetts | $91,003 | $44 |
| 4 | New Jersey | $90,782 | $44 |
| 5 | Virginia | $84,401 | $41 |
| 6 | North Carolina | $84,072 | $40 |
| 7 | California | $80,717 | $39 |
| 8 | Maryland | $78,028 | $38 |
| 9 | Georgia | $76,998 | $37 |
| 10 | Washington | $76,991 | $37 |
| 11 | Pennsylvania | $76,410 | $37 |
| 12 | Illinois | $75,961 | $37 |
| 13 | Ohio | $72,767 | $35 |
| 14 | Colorado | $71,688 | $34 |
| 15 | Utah | $68,612 | $33 |
| 16 | Texas | $67,996 | $33 |
| 17 | Florida | $66,713 | $32 |
| 18 | Missouri | $61,750 | $30 |
| 19 | Indiana | $61,717 | $30 |
| 20 | Nevada | $60,575 | $29 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Apple | $120,517 | $57.94 | 47 |
| 2 | California Resources | $111,503 | $53.61 | |
| 3 | Amazon | $101,521 | $48.81 | 303 |
| 4 | Barclays | $97,780 | $47.01 | 3 |
| 5 | Shearman & Sterling | $97,389 | $46.82 | |
| 6 | MUFG EMEA | $95,283 | $45.81 | |
| 7 | Santander Private Banking International | $94,869 | $45.61 | 19 |
| 8 | GM Financial | $93,065 | $44.74 | 11 |
| 9 | Quantitative Risk Management | $92,664 | $44.55 | |
| 10 | UBS | $92,109 | $44.28 | 12 |
| 11 | AIG | $91,567 | $44.02 | 29 |
| 12 | Iris Software | $90,912 | $43.71 | |
| 13 | Citi | $89,171 | $42.87 | 79 |
| 14 | Booz Allen Hamilton | $88,965 | $42.77 | 82 |
| 15 | Primatics Financial | $88,758 | $42.67 | |
| 16 | U.S. Secret Service | $88,190 | $42.40 | |
| 17 | Avanade | $87,939 | $42.28 | 1 |
| 18 | NTT Data International L.L.C. | $87,310 | $41.98 | 10 |
| 19 | BlackRock | $87,022 | $41.84 | 36 |
| 20 | Santander Bank | $86,990 | $41.82 | 14 |
A finance management 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. Below, you can find an example of a finance management analyst job description:
There are various strategies that you can use to find the right finance management analyst for your business:
To successfully recruit finance management 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.
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.
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 finance management 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 equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
To prepare for the new finance management analyst first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
Recruiting finance management 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 $71,934 per year for a finance management 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 finance management analysts in the US typically range between $23 and $50 an hour.