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Trade specialist hiring summary. Here are some key points about hiring trade specialists in the United States:
Here's a step-by-step trade specialist hiring guide:
Trade specialists are professionals who are responsible for handling the credit and financial activities of an organization while obtaining payments for its import or export operations. These specialists must advise the organization on matters of tariffs, markets, and federal and foreign regulations while keeping informed about the changes to laws and requirements that may impact operations. They must ensure that all filings, documents, and regulatory reporting are completed in a timely manner. Trade specialists must also negotiate and handle issues related to credit with international banks.
The trade 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.
You should also consider the ideal background you'd like them a trade specialist 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 specialist that fits the bill.
This list shows salaries for various types of trade specialists.
| Type of Trade Specialist | Description | Hourly rate |
|---|---|---|
| Trade Specialist | Securities, commodities, and financial services sales agents connect buyers and sellers in financial markets. They sell securities to individuals, advise companies in search of investors, and conduct trades. | $12-23 |
| Investment Representative | Investment representatives, also known as financial advisers, usually work in a bank, investment company, credit institution, or other financial firm. They handle the marketing and promotion of financial services and give clients investment advice... Show more | $17-53 |
| Registered Representative | A registered representative's job involves researching market conditions, liaising with potential clients, implementing advertising campaigns, cultivating personal contacts, and creating investment plans. Their duties and responsibilities include soliciting business from potential clients and selling financial products and services to clients for investment purposes... Show more | $15-42 |
Including a salary range in your trade specialist job description helps attract top candidates to the position. A trade specialist 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 specialist in Nevada may be lower than in Kansas, and an entry-level trade specialist usually earns less than a senior-level trade specialist. Additionally, a trade specialist 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 | Minnesota | $48,672 | $23 |
| 2 | New York | $44,770 | $22 |
| 3 | Rhode Island | $40,373 | $19 |
| 4 | New Jersey | $37,424 | $18 |
| 5 | Illinois | $37,347 | $18 |
| 6 | Massachusetts | $37,288 | $18 |
| 7 | Connecticut | $36,274 | $17 |
| 8 | West Virginia | $33,718 | $16 |
| 9 | Texas | $33,275 | $16 |
| 10 | California | $33,104 | $16 |
| 11 | Indiana | $32,996 | $16 |
| 12 | Washington | $31,957 | $15 |
| 13 | Virginia | $31,947 | $15 |
| 14 | District of Columbia | $31,477 | $15 |
| 15 | North Carolina | $30,594 | $15 |
| 16 | Missouri | $30,224 | $15 |
| 17 | Michigan | $30,222 | $15 |
| 18 | Delaware | $30,103 | $14 |
| 19 | Maryland | $30,048 | $14 |
| 20 | Oregon | $29,689 | $14 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Ford Motor | $79,768 | $38.35 | 15 |
| 2 | $76,646 | $36.85 | 7 | |
| 3 | Morgan Stanley | $75,832 | $36.46 | |
| 4 | BP America Inc | $64,322 | $30.92 | 1 |
| 5 | ABB | $62,219 | $29.91 | 12 |
| 6 | Point72 | $60,026 | $28.86 | 1 |
| 7 | Citi | $55,394 | $26.63 | |
| 8 | Neuberger Berman | $54,636 | $26.27 | |
| 9 | SUNY New Paltz | $52,048 | $25.02 | |
| 10 | BMO Capital Markets | $51,694 | $24.85 | |
| 11 | BNY Mellon | $51,042 | $24.54 | |
| 12 | Edelman Financial Engines | $50,878 | $24.46 | |
| 13 | UBS | $50,017 | $24.05 | 2 |
| 14 | Tri-State G&T | $49,935 | $24.01 | |
| 15 | Wells Enterprises | $45,844 | $22.04 | 1 |
| 16 | Square | $45,682 | $21.96 | |
| 17 | J.P. Morgan | $45,187 | $21.72 | |
| 18 | JPMorgan Chase & Co. | $44,358 | $21.33 | 34 |
| 19 | New York State Restaurant Association | $43,170 | $20.75 | |
| 20 | The Trade Desk | $42,730 | $20.54 |
A good trade specialist 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 trade specialist job description:
To find trade specialists for your business, try out a few different recruiting strategies:
To successfully recruit trade specialists, 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.
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 found the trade 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 equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
To prepare for the new trade 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.
Hiring a trade specialist comes with both the one-time cost per hire and ongoing costs. The cost of recruiting trade specialists 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 specialist recruiting as well the ongoing costs of maintaining the new employee.
You can expect to pay around $36,693 per year for a trade specialist, 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 specialists in the US typically range between $12 and $23 an hour.