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Project analyst hiring summary. Here are some key points about hiring project analysts in the United States:
Here's a step-by-step project analyst hiring guide:
A project analyst is responsible for overseeing the development of new projects upon completion of data gathering. A project analyst must provide plans and design the project to its full potential. For this, it is essential to conduct extensive research and coordinate with all staff and departments involved through regular reports and various forms of communication. Furthermore, a project analyst must devise strategies to improve particular projects for it to succeed and achieve better results, all in adherence to the company policies and regulations.
First, determine the employments status of the project analyst you need to hire. Certain project analyst roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
Hiring the perfect project analyst also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.
The following list breaks down different types of project analysts and their corresponding salaries.
| Type of Project Analyst | Description | Hourly rate |
|---|---|---|
| Project Analyst | 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. | $25-46 |
| Business Analyst/Project Manager | A business analyst/project manager is responsible for developing project management procedures, analyzing processes, and ensuring the accuracy and efficiency of project deliverables, following clients' specifications and requirements to meet their highest satisfaction. Business analysts/project managers manage project resources, delegate tasks to project staff, setting deadlines, and coordinating with the clients for regular updates and suggest strategic adjustments as needed... Show more | $34-65 |
| 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 |
Including a salary range in your project analyst job description helps attract top candidates to the position. A project analyst salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for a project analyst in Maine may be lower than in New Jersey, and an entry-level project analyst usually earns less than a senior-level project analyst. Additionally, a project analyst with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New Jersey | $82,788 | $40 |
| 2 | District of Columbia | $81,996 | $39 |
| 3 | Connecticut | $79,869 | $38 |
| 4 | New York | $79,274 | $38 |
| 5 | California | $77,415 | $37 |
| 6 | North Carolina | $76,963 | $37 |
| 7 | Virginia | $76,574 | $37 |
| 8 | Washington | $75,887 | $36 |
| 9 | Maryland | $75,138 | $36 |
| 10 | Massachusetts | $74,649 | $36 |
| 11 | Illinois | $74,634 | $36 |
| 12 | Texas | $72,976 | $35 |
| 13 | Oregon | $70,463 | $34 |
| 14 | Pennsylvania | $70,330 | $34 |
| 15 | Colorado | $70,095 | $34 |
| 16 | Georgia | $69,611 | $33 |
| 17 | Minnesota | $69,240 | $33 |
| 18 | Michigan | $68,409 | $33 |
| 19 | Ohio | $66,982 | $32 |
| 20 | Missouri | $64,378 | $31 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | $115,020 | $55.30 | 400 | |
| 2 | Apple | $104,445 | $50.21 | 45 |
| 3 | Cybersource | $99,882 | $48.02 | |
| 4 | Biogen | $98,046 | $47.14 | 2 |
| 5 | Novo Nordisk | $95,211 | $45.77 | 2 |
| 6 | Intel | $94,288 | $45.33 | 17 |
| 7 | Cambridge Associates | $91,955 | $44.21 | |
| 8 | AARP | $91,860 | $44.16 | 1 |
| 9 | Bloomberg | $91,842 | $44.15 | 28 |
| 10 | Ameresco | $91,507 | $43.99 | 6 |
| 11 | Bristol-Myers Squibb | $91,308 | $43.90 | 7 |
| 12 | Medtronic | $91,007 | $43.75 | 55 |
| 13 | BD | $89,812 | $43.18 | 4 |
| 14 | BNY Mellon | $89,717 | $43.13 | 25 |
| 15 | TD Bank | $89,714 | $43.13 | 30 |
| 16 | HP | $89,664 | $43.11 | 2 |
| 17 | Eaton | $88,879 | $42.73 | 68 |
| 18 | Bayer | $88,214 | $42.41 | 1 |
| 19 | Activision Blizzard | $87,813 | $42.22 | 3 |
| 20 | Zurich | $87,623 | $42.13 | 30 |
A good project analyst 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 project analyst job description:
There are a few common ways to find project analysts for your business:
During your first interview to recruit project analysts, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
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 have selected a candidate for the project analyst 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 also important to follow up with applicants who do not get the job with an email letting them know that the position is 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.
Recruiting project analysts 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 $71,174 per year for a project analyst, 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 project analysts in the US typically range between $25 and $46 an hour.