How to Make Your Next Analyst Hire

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Last updated at 09-16-2020 22:31:02

Overview

Methodology

More than 17,125 companies advertise 111,913 Analyst jobs on SimplyHired and its partner sites each year. After analyzing job postings and salary information from these companies, as well as direct job seeker feedback, we’ve compiled a list of insights to show you how to attract and hire your next Analyst most efficiently.

Hiring Process

In the past quarter, we’ve seen 30,198 job posts from 7,551 employers in the United States. This is a increase of 0.9% compared to the previous quarter. On average, there are 66 Analyst job seekers for every active Analyst job, which shows that it is a job seeker's market.

Writing a Job Description

In the past quarter, Customer Service Representative, Analyst, Data Analyst, Administrative Assistant, Financial Analyst, Business Analyst, Data Entry Clerk, Call Center Representative, IT Security Specialist, and Intelligence Analyst seem to be the most sought after jobs amongst the Analyst candidates in the United States. This differs from the last six quarters, where the most popular titles were: Analyst, Data Analyst, Customer Service Representative, Business Analyst, Financial Analyst, Administrative Assistant, Data Entry Clerk, Intelligence Analyst, IT Security Specialist, and Operations Analyst. If you use one of these currently popular titles in the job description, you'll likely be able to attract a lot more candidates to apply.

For the Analyst candidates who are actively applying to jobs in this same period, we see that 6.2% of the active Analyst candidates have less than 3 years of experience, 12.4% have between 3-5 years of experience, 26.9% have 6-10 years of experience, and 54.6% have over 10 years of experience. The average years of experience has shifted from an estimated 8.9 years to 8.7 years. If you're posting a job in today's market, expect candidates with about the same experience level to apply to your job compared to the last 2 quarters.

In the previous quarter, the most popular skills that employers are looking for include communication skills, Microsoft Excel, Microsoft Office, analysis skills, Microsoft Powerpoint, Microsoft Word, sql, writing skills, leadership, and python. Demand for contracts, pivot tables, medicare, leadership, software troubleshooting, quality control, autocad, Spanish, English, and workforce management has significantly increased. If you are looking for an Analyst with a similar skill set, be sure to follow industry best practices in skill requirements.

Job posts with salary information received about 1.4 as many applies as those without it. In the past quarter, less than 12.9% of the job posts displayed salary information. By adding salary information to your job posting, you could potentially increase the number of applicants by approximately 40.0%.

Example Analyst responsibilities

  • Synthesizing data to present to the public
  • Creating and reviewing reports on stocks, the economy, or the financial industry
  • Developing and conducting surveys and other research
  • Explaining financial concepts to the public
  • Delivering presentations to the public

Recruiting

Active Recruiting

When reaching out to candidates, it’s best to understand where to look. We’ve identified hiring trends in states as well as companies regularly hiring for Analyst positions. This should provide a good place to start looking for qualified candidates. According to our data in the last quarter: California, Virginia, Texas, Florida, and New York are the states that have the highest demand for Analysts. Texas, California, New York, Virginia, and Florida are where most job seekers are searching for Analyst jobs. If we look at the Analyst to job ratio, Alabama, Maryland, Alaska, Virginia, and Hawaii have the lowest number of Analyst applicants per job. Wyoming, Connecticut, Louisiana, New York, and Maine have the most active Analyst job seekers per job.

Passive Recruiting

While actively recruiting candidates for your role, you should also post your job to SimplyHired. By posting for free and paying only for the qualified applicants you want, your post will automatically go to a network of job boards to reach millions of qualified candidates. With SimplyHired, it doesn’t end with the post. You can track your applicants throughout the hiring process with our simple and easy to use Applicant Tracking System (ATS).

Review Candidates

In the last quarter, we estimate there are 1,540,149 job seekers interested in Analyst opportunities in the United States. That’s a 14.4% increase compared to the previous quarter with 1,753,093 active job seekers. Around 6.2% of the active Analyst candidates have less than 3 years of experience, over 12.4% have between 3-5 years of experience, 26.9% have 6-10 years of experience, and 54.6% have over 10 years of experience. The average experience level of the available Analyst candidates is 8.7 years. Active candidates in the Analyst profession most commonly have bachelor's degrees, followed by master's degrees, high school diplomas, and associate's degrees. When setting education requirements for your position, aligning with the industry standard makes it easier to find potential candidates. Application rates indicate that Analyst candidates are likely experiencing a market in which applicants have less negotiating power. From an employer perspective, you'll have a greater selection of candidates to choose from and may want to invest in automated screening tools.

Interviewing Candidates

Interview Process

*Self-reported data collected from 10,360 Analysts from 1/1/2020 to 6/30/2020, via online employer reviews for companies including Accenture, JPMorgan Chase, UnitedHealth Group, Wells Fargo, Aetna, eClerx, Deloitte, Genpact, Parallon, and Goldman Sachs.

After analyzing post-interview data from Analyst candidates in the last 6 months, we see more than 25.2% of the candidates self-reported being hired within 1 to 2 days. Around 72.8% of the candidates for this job reported being hired within 2 weeks. If your process takes longer than 2 weeks in the recent market, you'll likely lose these candidates to other employers. Most of the Analyst candidates are expecting a on-site interview, phone call/screening, background check, and written test. Most employers do not require a problem solving exercises, drug test, or presentation. If you are trying to hire your next Analyst quickly, consider simplifying and streamlining the hiring process. As for the interview experience, more than 67.8% of the candidates had a good or great interview experience, and more than 36% of the candidates thought that the interview leaned more towards difficult.

Example Interview Questions

  • What do you want to be doing in 5 years?
  • Tell me about yourself?
  • Why should I hire you?
  • What's your greatest strength and weakness in work?
  • How did you stack up against your peers academically?

Final Review and Offer

Reference Check

Checking references is a quick and easy way to check for any red flags that didn’t arise to this point in the hiring process. Great insights can be provided by former colleagues and employers.

Crafting an Offer: Salary and Benefits

The average Analyst salary offered by employers increased for 4 out of 6 consecutive quarters in the United States. In the last quarter, we see a decrease of 2% from $74,690.91 to $72,873.75 compared to the quarter before, which is the biggest decrease in the past 6 quarters. For Analyst positions, the most common benefits job seekers reported being offered by employers include: healthcare insurance by 82.4%, dental insurance by 73.0%, paid time off by 73.0%, vision insurance by 67.8%, a 401k plan by 64.8%, discounts by 21.5%, and stock options/grants by 15.9%. While still relatively rare, more and more employers now offer flexibility benefits, including somewhat remote, mostly remote, fully remote, maternity leave, sabbaticals, location variety, flexible working hours, and paternity leave, to attract and retain Analyst candidates to their organization.

Background Check and Drug Test

According to self-reported job seeker feedback, 39.0% of the employers conducted a background check, and 17.1% of the employers conducted a drug test prior to the hiring of their Analyst candidates.

Onboarding

When you’re ready to hire an Analyst, SimplyHired is here to help with your next steps. Our Human Resources Information System (HRIS) provides onboarding tools and other essential HR tools. From document signing to time off tracking, our HRIS will help you seamlessly move an Analyst candidate through the hiring and onboarding process.

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