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Senior advisor hiring summary. Here are some key points about hiring senior advisors in the United States:
Here's a step-by-step senior advisor hiring guide:
A senior advisor's responsibilities will vary on the type of industry where one is involved. However, most of it will revolve around sharing extensive expertise and knowledge that is vital in a company's decision-making processes. A senior advisor must also conduct research and analysis, inspect issues, implement policies, and devise strategies that will benefit the company. Furthermore, as a senior advisor, they may have the task of mentoring less experienced professionals in their joint effort to bring more profit and significant results to the company.
First, determine the employments status of the senior advisor you need to hire. Certain senior advisor roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
A senior advisor's background is also an important factor in determining whether they'll be a good fit for the position. For example, senior advisors 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 senior advisors and their corresponding salaries.
| Type of Senior Advisor | Description | Hourly rate |
|---|---|---|
| Senior Advisor | $41-77 | |
| Business Development Internship | A business development intern is responsible for supporting the organization's goals and objectives in providing the best services to clients and ensuring a smooth flow of operations with maximum productivity and efficiency. Business development interns observe the operational processes of the department and perform duties under the supervision of a direct manager or tenured staff... Show more | $12-20 |
| Business Development Consultant | The role of business consultants is to provide an analysis of a company on its business practices and make recommendations for long-term goals. This role is also connected with various duties and responsibilities, including reviewing the company's financial statements, engaging in research on how to improve the company's offers, and developing new business models... Show more | $25-65 |
Including a salary range in the senior advisor job description is a good way to get more applicants. A senior advisor 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 senior advisor in Alabama may be lower than in California, and an entry-level engineer typically earns less than a senior-level senior advisor. Additionally, a senior advisor with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $139,022 | $67 |
| 2 | Rhode Island | $130,450 | $63 |
| 3 | Connecticut | $130,196 | $63 |
| 4 | New York | $129,845 | $62 |
| 5 | Maryland | $129,677 | $62 |
| 6 | District of Columbia | $129,597 | $62 |
| 7 | Washington | $127,934 | $62 |
| 8 | Massachusetts | $123,979 | $60 |
| 9 | Virginia | $123,227 | $59 |
| 10 | Illinois | $120,162 | $58 |
| 11 | Arizona | $120,115 | $58 |
| 12 | North Carolina | $116,381 | $56 |
| 13 | Pennsylvania | $115,302 | $55 |
| 14 | Texas | $114,133 | $55 |
| 15 | Georgia | $112,722 | $54 |
| 16 | Ohio | $112,426 | $54 |
| 17 | Missouri | $111,207 | $53 |
| 18 | Indiana | $107,950 | $52 |
| 19 | Tennessee | $107,561 | $52 |
| 20 | Nebraska | $106,628 | $51 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Kirkland & Ellis | $164,191 | $78.94 | 3 |
| 2 | Malaria No More | $160,635 | $77.23 | |
| 3 | Bill & Melinda Gates Foundation | $156,310 | $75.15 | 3 |
| 4 | Enbridge | $155,590 | $74.80 | 11 |
| 5 | King & Spalding | $153,538 | $73.82 | |
| 6 | Public Health Institute | $148,180 | $71.24 | |
| 7 | McKinsey & Company Inc | $146,221 | $70.30 | 1 |
| 8 | Boehringer Ingelheim | $145,494 | $69.95 | 4 |
| 9 | Mercy Corps | $144,047 | $69.25 | |
| 10 | BP America Inc | $142,638 | $68.58 | |
| 11 | Rockefeller Philanthropy Advisors | $141,800 | $68.17 | |
| 12 | Eli Lilly and Company | $140,357 | $67.48 | 20 |
| 13 | Jhpiego | $139,403 | $67.02 | |
| 14 | Palo Alto Networks | $139,339 | $66.99 | |
| 15 | AbbVie | $139,032 | $66.84 | |
| 16 | Us Medical Management | $138,876 | $66.77 | |
| 17 | GameStop | $138,190 | $66.44 | 16 |
| 18 | Occidental Petroleum | $137,448 | $66.08 | 2 |
| 19 | Boston Consulting Group | $136,455 | $65.60 | 18 |
| 20 | ConocoPhillips | $136,257 | $65.51 |
A senior advisor 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 senior advisor job description:
There are various strategies that you can use to find the right senior advisor for your business:
During your first interview to recruit senior advisors, 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.
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 senior advisor 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.
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.
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.
Hiring a senior advisor comes with both the one-time cost per hire and ongoing costs. The cost of recruiting senior advisors involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of senior advisor recruiting as well the ongoing costs of maintaining the new employee.
You can expect to pay around $119,558 per year for a senior advisor, 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 senior advisors in the US typically range between $41 and $77 an hour.