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Market specialist hiring summary. Here are some key points about hiring market specialists in the United States:
Here's a step-by-step market specialist hiring guide:
Market specialists are business professionals who are responsible for developing, monitoring, and implementing marketing programs through marketing research and evaluation of trends to develop marketing strategies and to give advice on how to reach the target market. They must have a strong background in sales, marketing, and advertising with good interpersonal and negotiation skills since the job involves various communication methods in developing marketing programs. Also, they maintain their technical and professional knowledge by attending workshops, reviewing professional publications, developing personal networks, and participating in professional organizations.
The market specialist 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.
A market specialist's background is also an important factor in determining whether they'll be a good fit for the position. For example, market specialists 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 specialists and their corresponding salaries.
| Type of Market Specialist | Description | Hourly rate |
|---|---|---|
| Market Specialist | 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. | $20-52 |
| Research Internship | A research intern is responsible for assisting the research team with conducting an investigation, compiling information, and analyzing results for an organized research study. Research interns' duties also include understanding the work processes and operation procedures, sharing strategies and recommendations on research methods, reaching out to appropriate research correspondents, managing clients' inquiries and concerns, keeping important client records for reference, studying current market trends, and maintaining the eagerness to learn... Show more | $12-28 |
| Marketing Department Internship | A marketing department internship is a marketing degree program requirement in most colleges. This is the work experience period where interns get to apply the knowledge they acquire in the real world... Show more | $12-18 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $95,034 | $46 |
| 2 | New Jersey | $82,359 | $40 |
| 3 | Washington | $81,165 | $39 |
| 4 | Massachusetts | $80,898 | $39 |
| 5 | Oregon | $80,436 | $39 |
| 6 | New York | $80,134 | $39 |
| 7 | Colorado | $79,022 | $38 |
| 8 | Texas | $72,787 | $35 |
| 9 | District of Columbia | $72,666 | $35 |
| 10 | Minnesota | $70,269 | $34 |
| 11 | Illinois | $66,062 | $32 |
| 12 | Virginia | $63,267 | $30 |
| 13 | Indiana | $60,574 | $29 |
| 14 | Ohio | $59,690 | $29 |
| 15 | Michigan | $59,345 | $29 |
| 16 | Pennsylvania | $59,281 | $29 |
| 17 | Louisiana | $56,419 | $27 |
| 18 | South Carolina | $55,179 | $27 |
| 19 | Florida | $52,488 | $25 |
| 20 | Georgia | $51,731 | $25 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | BP America Inc | $128,265 | $61.67 | 2 |
| 2 | Calypso Technology | $126,953 | $61.04 | |
| 3 | Meta | $121,766 | $58.54 | 26 |
| 4 | $119,579 | $57.49 | 64 | |
| 5 | Bloomberg | $112,840 | $54.25 | 12 |
| 6 | Abiomed | $109,641 | $52.71 | |
| 7 | Intuitive Surgical | $108,568 | $52.20 | 1 |
| 8 | Morgan Stanley | $106,447 | $51.18 | 23 |
| 9 | American Beacon Advisors | $104,891 | $50.43 | |
| 10 | Citi | $101,835 | $48.96 | 10 |
| 11 | Maxim Integrated | $98,040 | $47.13 | |
| 12 | Long Island Business Institute | $97,835 | $47.04 | |
| 13 | BNP Paribas | $97,679 | $46.96 | 3 |
| 14 | UBS | $92,737 | $44.59 | 6 |
| 15 | Southern California Edison | $92,017 | $44.24 | 3 |
| 16 | Dexcom | $87,211 | $41.93 | |
| 17 | Sanofi US | $85,602 | $41.15 | 13 |
| 18 | Enel X | $85,024 | $40.88 | |
| 19 | Thales | $81,331 | $39.10 | |
| 20 | Thermo Fisher Scientific | $80,195 | $38.56 | 52 |
A market specialist 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 market specialist job description:
To find the right market specialist for your business, consider trying out a few different recruiting strategies:
Recruiting market specialists 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've found the market specialist 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 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 market specialist 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.
Before you start to hire market specialists, 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 market specialists pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
Market specialists earn a median yearly salary is $69,260 a year in the US. However, if you're looking to find market specialists for hire on a contract or per-project basis, hourly rates typically range between $20 and $52.