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Management development program hiring summary. Here are some key points about hiring management development programs in the United States:
Here's a step-by-step management development program hiring guide:
Management Development Program Participants are fresh graduates with an opportunity to be fast-tracked to a management role. They are exposed to different departments or roles in the company to determine where they fit the most. These stints will be used to assess where they can contribute the most. Participants are given projects to hone their skills and maximize their potential. They may also be given pen and paper exams to assess their learnings. Management Development Program Participants are usually top students from reputable universities or colleges.
The management development program 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.
You should also consider the ideal background you'd like them a management development program 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 management development program that fits the bill.
This list presents management development program salaries for various positions.
| Type of Management Development Program | Description | Hourly rate |
|---|---|---|
| Management Development Program | 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. | $14-46 |
| Business Analyst-Consultant | A business analyst-consultant is responsible for overseeing the project management and ensuring that the operations meet the agreed-upon project deliverables. Business analyst-consultants closely coordinate with the clients for their specifications and requirements, monitoring the resources and processes for the project completion, and aligning those to the clients' budget goals... Show more | $31-58 |
| Business Consultant | A business consultant is a professional who works directly with business owners on developing a business plan and identifying their marketing needs. Business consultants offer business owners a wide range of services, such as supplementing existing staff, provide expertise in a specific market, and influencing other people... Show more | $30-56 |
Including a salary range in the management development program job description is a good way to get more applicants. A management development program 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 management development program in Nebraska may be lower than in Massachusetts, and an entry-level engineer typically earns less than a senior-level management development program. Additionally, a management development program with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Massachusetts | $77,707 | $37 |
| 2 | Connecticut | $75,860 | $36 |
| 3 | California | $73,014 | $35 |
| 4 | Maryland | $72,239 | $35 |
| 5 | New Jersey | $68,709 | $33 |
| 6 | Pennsylvania | $66,716 | $32 |
| 7 | New York | $66,693 | $32 |
| 8 | Illinois | $63,738 | $31 |
| 9 | Ohio | $63,237 | $30 |
| 10 | Washington | $62,060 | $30 |
| 11 | Virginia | $61,228 | $29 |
| 12 | Texas | $57,318 | $28 |
| 13 | Arizona | $53,848 | $26 |
| 14 | New Mexico | $52,024 | $25 |
| 15 | Louisiana | $51,807 | $25 |
| 16 | Colorado | $51,549 | $25 |
| 17 | Georgia | $49,383 | $24 |
| 18 | Indiana | $48,354 | $23 |
| 19 | Oklahoma | $47,963 | $23 |
| 20 | Florida | $47,032 | $23 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | PayPal | $133,289 | $64.08 | 31 |
| 2 | ServiceNow | $124,648 | $59.93 | 23 |
| 3 | AQR Capital Management | $123,023 | $59.15 | 3 |
| 4 | Microsoft | $119,912 | $57.65 | 120 |
| 5 | BlackRock | $100,657 | $48.39 | 29 |
| 6 | 8x8 | $88,726 | $42.66 | |
| 7 | Conrad's Tire Express & Total Car Care | $88,716 | $42.65 | |
| 8 | Dassault Systèmes | $85,723 | $41.21 | |
| 9 | New York Life Insurance | $84,755 | $40.75 | 72 |
| 10 | Amedisys | $75,903 | $36.49 | |
| 11 | USM Business Systems | $75,737 | $36.41 | 31 |
| 12 | Western States Fire Protection | $75,339 | $36.22 | |
| 13 | John Deere | $75,315 | $36.21 | |
| 14 | Milliman | $75,287 | $36.20 | 1 |
| 15 | DXC Technology | $74,846 | $35.98 | 7 |
| 16 | Ceres | $73,955 | $35.56 | |
| 17 | APi Group | $73,501 | $35.34 | 1 |
| 18 | Oldcastle Infrastructure | $73,354 | $35.27 | 37 |
| 19 | MITRE | $69,953 | $33.63 | |
| 20 | Kohler Co. | $69,821 | $33.57 | 13 |
A job description for a management development program role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a management development program job description:
There are a few common ways to find management development programs for your business:
To successfully recruit management development programs, 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.
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 have selected a candidate for the management development program 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 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.
Before you start to hire management development programs, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire management development programs pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
You can expect to pay around $55,218 per year for a management development program, 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 management development programs in the US typically range between $14 and $46 an hour.