How to hire a Research Analyst

How to hire a research analyst, step by step

Here's a step-by-step research analyst hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a research analyst job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new research analyst
• Step 8: Go through the hiring process checklist

What does a Research Analyst do?

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1. Identify your hiring needs

   The research analyst 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.

   Determine Employee vs Contractor Status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   You should also consider the ideal background you'd like them a research 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 research analyst that fits the bill.

   This list presents research analyst salaries for various positions.

   Type Of Research Analyst	Description	Hourly Rate
   Research Analyst	Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.	$21-51
   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
   Data Analyst Internship	A data analyst internship involves a trainee who wants to gain working experience in the field of information technology (IT) by assisting data analyst professionals. Data analyst interns should examine information using data analysis tools so that they can help their employers make important decisions by identifying various facts and trends... Show More	$12-27

   Show more

2. Create an ideal candidate profile

   Common Skills:

   • Data Analysis
   • Data Collection
   • Research Projects
   • PowerPoint
   • Market Research
   • Python
   • Data Entry
   • Statistical Analysis
   • Healthcare
   • SAS
   • Visualization
   • Research Data
   • Analyze Data
   • SPSS

   Check All Skills

   Responsibilities:

   • Develop VBA to automate the analysis of website data, which save staff labor time.
   • Manage medication studies, and ensury clinical trial centers conduct studies in accordance with GCP standards.
   • Manage project team meetings using SharePoint calendars.
   • Work with engineering teams to troubleshoot issues.
   • Design and code windows in PowerBuilder for EMPRV application.
   • Assist with ongoing implementation of POS and PC systems for upgrades and new locations.

   More Research Analyst duties

3. Make a budget

   Including a salary range in your research analyst job description helps attract top candidates to the position. A research 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 research analyst in Nebraska may be lower than in Washington, and an entry-level research analyst usually earns less than a senior-level research analyst. Additionally, a research 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.

   Average research analyst salary

   $70,232yearly

   $33.77 hourly rate

   ---

   Entry-level research analyst salary

   $45,000 yearly salary

   Updated March 17, 2025

   Average research analyst salary by state

   Rank	State	Avg. Salary	Hourly Rate
   1	Washington	$94,849	$46
   2	New York	$87,910	$42
   3	New Jersey	$78,323	$38
   4	Connecticut	$77,261	$37
   5	Delaware	$76,048	$37
   6	California	$73,176	$35
   7	Massachusetts	$69,370	$33
   8	District of Columbia	$67,275	$32
   9	Illinois	$66,701	$32
   10	Virginia	$62,967	$30
   11	Pennsylvania	$62,954	$30
   12	Minnesota	$60,938	$29
   13	Maryland	$60,628	$29
   14	Michigan	$59,764	$29
   15	Texas	$59,415	$29
   16	Colorado	$57,614	$28
   17	Georgia	$56,580	$27
   18	North Carolina	$54,380	$26
   19	Florida	$51,234	$25
   20	Arizona	$50,082	$24

   Average research analyst salary by company

   Company

   Rank	Company	Average Salary	Hourly Rate	Job Openings
   1	The Citadel	$172,440	$82.90	3
   2	Lord Abbett	$146,385	$70.38	3
   3	Pacific Investment Management Company LLC	$145,264	$69.84	17
   4	Neuberger Berman	$144,774	$69.60	26
   5	Bridgewater Associates	$143,350	$68.92
   6	Moran & Company P.C. CPA	$142,841	$68.67
   7	Putnam Investments	$141,911	$68.23
   8	First Republic Bank	$141,618	$68.09
   9	Meta	$141,535	$68.05	694
   10	Dodge & Cox	$139,383	$67.01	4
   11	William Blair	$138,041	$66.37	15
   12	Diamond Hill Capital Management	$136,865	$65.80	2
   13	GAMCO Investors	$136,469	$65.61
   14	Jane Street	$135,771	$65.27	25
   15	Cohen & Steers	$135,451	$65.12
   16	MFS Investment Management	$134,992	$64.90
   17	Meketa Investment Group	$134,718	$64.77	2
   18	Greenlight Capital	$134,502	$64.66
   19	Citi	$134,241	$64.54	130
   20	Two Sigma	$134,206	$64.52

4. Writing a Research Analyst Job Description

   A good research analyst job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a research analyst job description:

   Research Analyst job description example

   The Program Integrity Coding & Research Analyst acts as a Medical Coding subject matter expert for complex coding concerns and serve as primary coding resource for Program Integrity (PI). This position is full-time remote.
   Essential Functions:
   Use concepts and knowledge of CPT, ICD10, HCPCS, DRG, REV coding rules to analyze complex provider claims submissions Take a lead role to determine root cause of provider claim issues and resolve by analyzing system configuration, payment policy, and claims data Research, comprehend and interpret various state specific Medicaid, federal Medicare, and ACA/Exchange laws, rules and guidelines Maintain knowledge and stay current with Federal and State Regulatory requirements, i.e. CMS and ODJFS as well as coding guidelines, federal laws, rules, and billing guidelines for various provider specialty types and lines of business Prepare and respond to legal activities which includes discovery and trial preparation and testifying as needed Identify audit payment integrity issues for PI investigations, audits, provider pre-pay, etc.Assist in the development and implementation of an annual audit plan for providers with high risk for fraud using appropriate risk based methodology Provide critical research and analysis of functional performance, and make recommendations for enhancements, cost savings initiatives and process improvements Prepare and monitor various management and oversight metrics & reports as required Manage quality audits of our internal coding validation analysts and produce monthly reports for the manager.Recognize inconsistencies and gaps in Program Integrity business processes and work collaboratively to resolve the identified issues Generate comprehensive, clear, concise, and in-depth reporting and analysis and provide recommendations based on findings Provide support to the claims pre-pay team to analyze and identify trends in claims Manage the entry and tracking of system change requests, via appropriate ticketing system, for configuration or other Program Integrity improvements; act as primary resource and SME in corporate meetings and projects Identify payment integrity issues with claims reimbursement methodologies Analyze and report financial savings related to process improvements Build strong working relationships with Markets and departments that are essential for resolving systemic issues and driving process improvements Perform any other job related instructions as requested
   
   Education and Experience:
   Bachelor's degree in Business Administration or related field or equivalent years of relevant work experience is requiredA minimum of five (5) years of experience in medical coding, to include experience in program integrity coding audit, is required Experience with reimbursement methodology (APC, DRG, OPPS) is required
   
   Competencies, Knowledge and Skills:
   Proficient in Microsoft Office toolset Proven ability to establish effective working relationships with stakeholders at all different levels Excellent written and verbal communication skills Effective identification of business problems, assessment of proposed solutions to those problems, and understanding of the needs of stakeholders Ability to work independently and within a team environment Ability to multi-task and prioritize work to meet project deadlines Effective listening and critical thinking skills Flexibility during organizational and/or business changes Strong interpersonal and relationship building skills Effective problem solving skills with attention to detail Ability to effectively and efficiently work within a project team Time management skills Customer service oriented Decision making/problem solving skills Ability to develop, prioritize and accomplish goals Ability to coordinate and lead cross-functional teams
   
   Licensure and Certification:
   Certified Professional Coder (CPC) or equivalent billing/coding designation is required
   
   Working Conditions:
   General office environment; may be required to sit or stand for extended periods of time
   
   Organization Level Competencies
   Leveraging FeedbackCustomer OrientationValuing DifferencesManaging WorkEarning TrustQuality OrientationAdaptabilityInfluencingCollaborating
   
   This job description is not all inclusive. CareSource reserves the right to amend this job description at any time. CareSource is an Equal Opportunity Employer, including disability and veteran status. We are committed to a diverse and inclusive work environment.

   Copy This Example

   

5. Post your job

   To find the right research analyst for your business, consider trying out a few different recruiting strategies:

   • Consider internal talent. One of the most important sources of talent for any company is its existing workforce.
   • Ask for referrals. Reach out to friends, family members, and current employees and ask if they know or have worked with research analysts they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit research analysts who meet your education requirements.
   • Social media platforms. LinkedIn, Facebook and Twitter now have more than 3.5 billion users, and you can use social media to reach potential job candidates.

   Post your job online:

   • Post your research analyst job on Zippia to find and recruit research analyst candidates who meet your exact specifications.
   • Use field-specific websites such as swipe files, exit five, marketinghire, american marketing association.
   • Post a job on free websites.

6. Interview candidates

   To successfully recruit research analysts, 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.

   It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new research analyst

   Once you've decided on a perfect research 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.

   Once that's done, you can draft an onboarding schedule for the new research analyst. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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