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Market analyst internship hiring summary. Here are some key points about hiring market analyst interns in the United States:
Here's a step-by-step market analyst internship hiring guide:
Before you post your market analyst internship job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a market analyst internship for hire on a part-time basis or as a contractor.
A market analyst internship's background is also an important factor in determining whether they'll be a good fit for the position. For example, market analyst interns 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.
The following list breaks down different types of market analyst interns and their corresponding salaries.
| Type of Market Analyst Internship | Description | Hourly rate |
|---|---|---|
| Market Analyst Internship | 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. | $18-48 |
| 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 |
| Summer Analyst | Summer analysts are people who undertake an internship within a banking institution. These professionals perform analyses of detailed financial and corporate information... Show more | $20-49 |
A good market analyst internship 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 market analyst internship job description:
There are various strategies that you can use to find the right market analyst internship for your business:
Recruiting market analyst interns 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.
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 have selected a candidate for the market analyst internship 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.
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.
Once that's done, you can draft an onboarding schedule for the new market analyst internship. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
Recruiting market analyst interns 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 $63,476 per year for a market analyst internship, 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 market analyst interns in the US typically range between $18 and $48 an hour.