Analyst: What is the cost of hiring?
2025-10-01102000.00630407.951634000.00YEARLY
Analyst: What is the cost of hiring?
As of July 2022, the average number of jobseekers per analyst jobs in India is 29.
Analyst: What is the cost of hiring?
As of July 2022, the average number of jobseekers per analyst jobs in India is 29.
Why Hire An Analyst?
Businesses, companies, and organisations need analysts to help them grow. The business analyst is responsible to understand the business change needs, assessing its impact, documenting requirements, communicating and delivery of requirements.
Contributions of a great Analyst:
- To aid in company forecasting, and identify business trends based on internal and market data.
- Create a business strategy for internal initiatives to achieve anticipated results.
- Create reports based on trends and distribute them to all stakeholders in the business.
Deciding between a full-time vs freelance analyst
Corporate companies take help from both full-time and freelance analysts. Small businesses or companies looking for someone who can assess their business operations and give them one-time advice. For such companies, hiring a freelance analyst can be beneficial. Freelance analysts are experts in their field and help in improving the business of the companies. Freelancers hired for one time can be less expensive and highly skilled for the work.
On the other hand, giant businesses or corporates that want to continuously improve their processes and systems may hire a full-time analyst. The analyst is continuously able to evaluate the business practices of the organisation and offer suggestions. They can also monitor the development and advancements that their counsel is bringing about. A full-time worker would also get used to the business over time and gain more knowledge on how to make it better.
What are the different types of analysts?
There are various kinds of analysts who specialise in a specific aspect of the business. These include:
- IT business analyst: An IT business analyst is in charge of assessing and attempting to enhance the online systems utilised by businesses. They can use technology to make corporate processes more effective.
- Data business analyst: Data business analysts gather data from a company, arrange it, and use it to make judgments about the operation of the company. To help the organisation, they then convey these findings to higher management. Data analyst job duties include conducting statistical tests, translating large amounts of data, and identifying important records.
- Quantitative business analyst: Business analysts that deal with numbers are generally concerned with lowering financial risks to the company and boosting earnings. Typically, they have knowledge of profitable financial strategies.
- Operation analyst: An operation analyst finds issues with business operations and contributes to the development of solutions to enhance lead creation, data management, and communication. They gather information from certain divisions, including sales and marketing, and provide reports for corporate decision-makers.
- Business analyst manager: A group of business analysts is under the direction of a business analyst manager. They are in charge of educating their staff, supervising ongoing training, and making sure that the work is completed effectively and efficiently.
Where to find an analyst?
To find the right analyst for your business, try different recruiting strategies like:
- Local colleges and universities: Consult the local universities and colleges. Economics, business, or mathematics degrees are typically required of business analysts. You can find promising recent graduates by contacting local institutions. Contact with these people and arrange interviews to determine whether they are a good fit for the role.
- Put up flyers: Hanging posters in areas where job postings are frequent can draw applicants. Post about your situation outside the building if your firm is in a busy area.
- Referrals: Ask your current analysts for referrals. Offer them a referral amount to get their colleagues and friends to your company. Current employees always have a vast source of resources.
- Job portals and social media: To reach a large audience, place ads on job-search websites like Monster, Glassdoor, ZipRecruiter, and others. Use social media platforms like LinkedIn and Facebook to advertise open analyst positions.
- Promote internally: Offer a current worker who can perform well in the senior analyst position, or consider hiring a promising newcomer from a different department for an entry-level analyst role.
Post your job online: Try posting your analyst job on Indeed to find and attract quality analyst candidates.
Skills to look for in a great analyst
Any business that intends to grow should hire analysts for their projects. They are skilled professionals, who have a high level of assessing and problem-solving capacity. A great analyst candidate will have the following skills, attributes, and work experience that reflects:
- Educational qualification: A Bachelor’s Degree or higher in statistics, economics, finance, or business.
- Communication skills: An analyst must have excellent communication skills. They often engage in critical discussions within the company’s business system. They act as a communication channel between the company’s stakeholders and the team working on the project.
- Engagement skills: High-level of engagement with stakeholders at all levels of the company is a must. Analysts must have the power to convince the stakeholders and engage with the company’s culture.
- Analytical and resourceful: An analyst should be analytical. They should be able to deduce results from graphs and data and can make conclusions. They should be resourceful and willing to learn from their own mistakes.
- Multiple experiences: They should be able to communicate with various departments and stakeholders in the company. They should have experience working in various departments of the company.
Writing an analyst job description
A thoughtful job description is critical to finding qualified analyst candidates. An analyst job description includes a compelling summary of the role, a detailed list of duties and responsibilities, and the preferred skills for the position.
When writing your job description for an analyst, consider including some or all of the following keywords to strengthen the visibility of your job posting. According to Indeed data, these are the most popular search terms leading to clicks on analyst jobs:
- Analyst
- Data Analyst
- Medical coding
- Finance
- Fresher
- KPMG
- Barclays
- EY
Interviewing analyst candidates
Strong candidates for analyst positions will be confident answering questions regarding:
- Experience: Previous experience to take charge of the project and deliver goals within a given deadline. To check the level of their adaptability, as the project roles vary from organisation to organisation and even from domain to domain.
- Technical aspect: Their ability to integrate different technologies and tools. How expert they are in using tools like excel, word, PowerPoint, MS Project, ERP systems, etc.
- Project management: Their past ability to manage a project. How much able they are to manage the difficult stakeholders and situations in a project.
- Documentation: They must demonstrate competency in creating various documents and reports during analysis and problem-solving.
- Problem-solving: They must be able to solve problems that may arise at any project stage, whether related to documents, technology, policies, or stakeholders.
Need help coming up with interview questions? See our list of analyst interview questions for examples (with sample answers).
*Indeed provides this information as a courtesy to users of this site. Please note that we are not your recruiting or legal advisor, we are not responsible for the content of your job descriptions, and none of the information provided herein guarantees performance.
