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Trade analyst hiring summary. Here are some key points about hiring trade analysts in the United States:
Here's a step-by-step trade analyst hiring guide:
A trade analyst specializes in studying the stock market and its related fields. Utilizing their expertise in the market, they are responsible for determining the stocks to be bought or sold based on factors such as financial data and market status. It is also their responsibility to analyze and assess consumer and sales data within the company, coordinate with other analysts and trade managers, develop business plans and forecasts, and keep abreast of the government regulations.
First, determine the employments status of the trade analyst you need to hire. Certain trade analyst roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
You should also consider the ideal background you'd like them a trade 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 trade analyst that fits the bill.
Here's a comparison of trade analyst salaries for various roles:
| Type of Trade Analyst | Description | Hourly rate |
|---|---|---|
| Trade Analyst | Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments. | $24-58 |
| Financial Analyst Internship | A financial analyst intern is responsible for supporting an organization with financial activities and tasks. Typical duties and responsibilities may include creating and analyzing financial reports, preparing financial statements, and helping with audits... Show more | $13-25 |
| 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 |
Including a salary range in your trade analyst job description helps attract top candidates to the position. A trade 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 trade analyst in Florida may be lower than in Massachusetts, and an entry-level trade analyst usually earns less than a senior-level trade analyst. Additionally, a trade 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 | Massachusetts | $109,751 | $53 |
| 2 | Connecticut | $108,774 | $52 |
| 3 | New York | $102,511 | $49 |
| 4 | Nevada | $95,965 | $46 |
| 5 | District of Columbia | $89,511 | $43 |
| 6 | Washington | $88,867 | $43 |
| 7 | California | $88,793 | $43 |
| 8 | New Jersey | $87,177 | $42 |
| 9 | Pennsylvania | $86,667 | $42 |
| 10 | Rhode Island | $83,294 | $40 |
| 11 | Maryland | $80,426 | $39 |
| 12 | Virginia | $77,669 | $37 |
| 13 | Delaware | $77,053 | $37 |
| 14 | Texas | $76,875 | $37 |
| 15 | Illinois | $75,523 | $36 |
| 16 | West Virginia | $75,423 | $36 |
| 17 | South Carolina | $71,914 | $35 |
| 18 | Arizona | $71,583 | $34 |
| 19 | North Carolina | $70,059 | $34 |
| 20 | Colorado | $68,954 | $33 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Crowell & Moring | $151,275 | $72.73 | 3 |
| 2 | NVIDIA | $131,991 | $63.46 | 8 |
| 3 | CTC | $119,362 | $57.39 | 1 |
| 4 | Capital Group | $118,358 | $56.90 | 9 |
| 5 | BGC Partners | $112,425 | $54.05 | 2 |
| 6 | Louis Capital Markets | $112,351 | $54.01 | |
| 7 | Repsol Energy North America Corporation | $112,122 | $53.90 | |
| 8 | Invesco | $111,018 | $53.37 | 6 |
| 9 | Lord Abbett | $110,689 | $53.22 | |
| 10 | AssetMark | $109,755 | $52.77 | 3 |
| 11 | Source Capital Group | $109,582 | $52.68 | |
| 12 | DRW | $109,475 | $52.63 | |
| 13 | Interactive Brokers | $109,161 | $52.48 | 5 |
| 14 | ORION | $109,003 | $52.41 | 5 |
| 15 | TD Securities | $108,911 | $52.36 | |
| 16 | AQR Capital Management | $108,865 | $52.34 | 5 |
| 17 | Tower Research Capital | $107,442 | $51.65 | |
| 18 | D. E. Shaw group | $107,123 | $51.50 | |
| 19 | BTG Pactual | $105,960 | $50.94 | |
| 20 | Geneva Trading | $105,592 | $50.77 |
A job description for a trade analyst role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a trade analyst job description:
To find trade analysts for your business, try out a few different recruiting strategies:
Recruiting trade analysts 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've decided on a perfect trade 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 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 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 trade analyst comes with both the one-time cost per hire and ongoing costs. The cost of recruiting trade analysts 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 trade analyst recruiting as well the ongoing costs of maintaining the new employee.
You can expect to pay around $78,714 per year for a trade 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 trade analysts in the US typically range between $24 and $58 an hour.