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Managing member hiring summary. Here are some key points about hiring managing members in the United States:
Here's a step-by-step managing member hiring guide:
A managing member is an individual who has an ownership interest of a limited liability company (LLC) and is involved in its daily management. Managing members have an authoritative position that allows them to represent the company in contract negotiations and agree to the terms of a binding contract. They can purchase and sell properties owned by the company and can hire or terminate employees. Managing members also receive salaries and are not entitled to share in the profit or loss of the company.
Before you start hiring a managing member, 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 managing member 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 managing member that fits the bill.
Here's a comparison of managing member salaries for various roles:
| Type of Managing Member | Description | Hourly rate |
|---|---|---|
| Managing Member | $23-82 | |
| Project Administrator | A project administrator is a professional who assists the project manager in the preparation, reporting, and analysis of projects. Project administrators are given tasks with administrative responsibilities such as managing the budget for supply orders, coordinating meetings with contractors, and doing site visits... Show more | $15-39 |
| Co-Owner/Operator | A co-owner/operator is responsible for delivering goods and services for the companies using their trucks and vehicles. Co-owner/operators ensure timely merchandise deliveries, check the quantity and quality of the cargo, and follow routes accordingly... Show more | $10-23 |
Including a salary range in the managing member job description is a good way to get more applicants. A managing member 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 managing member in Nebraska may be lower than in Connecticut, and an entry-level engineer typically earns less than a senior-level managing member. Additionally, a managing member with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $97,359 | $47 |
| 2 | Wisconsin | $93,353 | $45 |
| 3 | New York | $91,121 | $44 |
| 4 | Pennsylvania | $87,006 | $42 |
| 5 | Virginia | $86,436 | $42 |
| 6 | Maryland | $85,544 | $41 |
| 7 | North Carolina | $85,455 | $41 |
| 8 | Washington | $79,217 | $38 |
| 9 | Georgia | $77,938 | $37 |
| 10 | Ohio | $75,854 | $36 |
| 11 | Illinois | $74,531 | $36 |
| 12 | Montana | $73,411 | $35 |
| 13 | Texas | $70,190 | $34 |
| 14 | South Carolina | $69,354 | $33 |
| 15 | Missouri | $68,346 | $33 |
| 16 | Arizona | $67,424 | $32 |
| 17 | Kansas | $67,000 | $32 |
| 18 | Nevada | $65,829 | $32 |
| 19 | Colorado | $65,519 | $32 |
| 20 | Florida | $63,012 | $30 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Memorial Sloan Kettering Cancer Center | $105,483 | $50.71 | |
| 2 | USAA | $97,563 | $46.91 | |
| 3 | Microsoft | $85,387 | $41.05 | 6 |
| 4 | St. Jude Children's Research Hospital | $80,949 | $38.92 | |
| 5 | Rockwell Automation | $76,795 | $36.92 | |
| 6 | Digital Federal Credit Union | $72,888 | $35.04 | 1 |
| 7 | MeadWestvaco | $68,964 | $33.16 | |
| 8 | D. E. Shaw group | $67,128 | $32.27 | |
| 9 | Americorps | $58,670 | $28.21 | 1 |
| 10 | Idaho Central Credit Union | $58,105 | $27.94 | |
| 11 | Chipotle Mexican Grill | $53,610 | $25.77 | 5 |
| 12 | Chewy | $47,394 | $22.79 | 5 |
| 13 | Domino's Pizza | $42,403 | $20.39 | 12 |
| 14 | McDonald's | $30,263 | $14.55 | 6 |
| 15 | Chick-fil-A | $28,432 | $13.67 | 22 |
A good managing member job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a managing member job description:
To find managing members for your business, try out a few different recruiting strategies:
Your first interview with managing member candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of 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've found the managing member 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.
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.
After that, you can create an onboarding schedule for a new managing member. 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.
Before you start to hire managing members, 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 managing members 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 $92,537 per year for a managing member, 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 managing members in the US typically range between $23 and $82 an hour.