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Principal analyst hiring summary. Here are some key points about hiring principal analysts in the United States:
Here's a step-by-step principal analyst hiring guide:
A principal analyst is responsible for evaluating the project management and product development procedures of an organization by analyzing data statistics and market trends. Principal analysts conduct operational audits to identify inconsistencies and defects, including the networks and system database. They create reports on their findings, as well as recommendations to improve optimization and maximum productivity. A principal analyst should be highly communicative and analytical as they also analyze sales reports and financial transactions to develop techniques for increasing profits and revenues.
Before you post your principal analyst 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 principal analyst for hire on a part-time basis or as a contractor.
You should also consider the ideal background you'd like them a principal analyst 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 principal analyst that fits the bill.
Here's a comparison of principal analyst salaries for various roles:
| Type of Principal Analyst | Description | Hourly rate |
|---|---|---|
| Principal Analyst | Computer systems analysts study an organization’s current computer systems and procedures and design information systems solutions to help the organization operate more efficiently and effectively. They bring business and information technology (IT) together by understanding the needs and limitations of both. | $41-71 |
| Analyst Internship | An analyst internship is a student program where an intern is assigned to assist analyst professionals by analyzing business goals, objectives, and needs. Analyst interns assist in the planning and designing of business processes and suggest recommendations for improvement... Show more | $13-25 |
| Analyst Lead | The duties of an analyst lead depend on one's line of work or industry of employment. Typically, their responsibilities revolve around performing research and analysis, coordinating with different departments to gather leads and data, reviewing findings, and producing reports and presentations for the stakeholders and other higher-ranking officials... Show more | $35-58 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $145,142 | $70 |
| 2 | Washington | $138,773 | $67 |
| 3 | Oregon | $122,860 | $59 |
| 4 | Connecticut | $111,214 | $53 |
| 5 | New Jersey | $109,459 | $53 |
| 6 | Texas | $109,371 | $53 |
| 7 | Massachusetts | $109,209 | $53 |
| 8 | District of Columbia | $107,736 | $52 |
| 9 | Illinois | $107,170 | $52 |
| 10 | Virginia | $106,589 | $51 |
| 11 | New York | $105,014 | $50 |
| 12 | Pennsylvania | $105,011 | $50 |
| 13 | Maryland | $104,847 | $50 |
| 14 | Ohio | $103,777 | $50 |
| 15 | Georgia | $102,195 | $49 |
| 16 | Minnesota | $101,427 | $49 |
| 17 | Colorado | $98,513 | $47 |
| 18 | Florida | $97,668 | $47 |
| 19 | Indiana | $96,913 | $47 |
| 20 | Iowa | $94,389 | $45 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | $158,824 | $76.36 | 115 | |
| 2 | World Fuel Services | $144,399 | $69.42 | 1 |
| 3 | Avid | $136,721 | $65.73 | 2 |
| 4 | OCC | $136,720 | $65.73 | 28 |
| 5 | $131,931 | $63.43 | 14 | |
| 6 | Yext | $131,126 | $63.04 | |
| 7 | VMware | $129,617 | $62.32 | |
| 8 | DocuSign | $128,547 | $61.80 | |
| 9 | Amazon | $127,943 | $61.51 | 523 |
| 10 | Upwork | $125,717 | $60.44 | 2 |
| 11 | Intuitive Surgical | $125,209 | $60.20 | 11 |
| 12 | SS&C Technologies | $125,187 | $60.19 | 19 |
| 13 | FireEye | $124,670 | $59.94 | |
| 14 | Infinera | $124,461 | $59.84 | |
| 15 | Majesco | $121,550 | $58.44 | 2 |
| 16 | Jade Global | $120,291 | $57.83 | 1 |
| 17 | Trideum | $119,947 | $57.67 | |
| 18 | TEKsystems | $119,683 | $57.54 | 58 |
| 19 | Temenos AG | $119,473 | $57.44 | |
| 20 | Tripadvisor | $118,694 | $57.06 |
A principal 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. To help get you started, here's an example of a principal analyst job description:
There are a few common ways to find principal analysts for your business:
To successfully recruit principal 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.
While interviews are great, you will only sometimes learn enough from a conversation with a principal analyst applicant. In those cases, having candidates complete a test project can go a long way in figuring out who's the most likely to succeed in the role. If you aren't a technical person and don't know how to design an appropriate test, you can ask someone else on the team to create it or take a look at these websites to get a few ideas:
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect principal analyst candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
Once that's done, you can draft an onboarding schedule for the new principal analyst. 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.
Before you start to hire principal analysts, 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 principal analysts pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
Principal analysts earn a median yearly salary is $114,156 a year in the US. However, if you're looking to find principal analysts for hire on a contract or per-project basis, hourly rates typically range between $41 and $71.