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Everything You Need to Know About a Business Analyst & Its Salary in 2021!



Introduction

Business Analyst is a comparatively new profile. However, it has been performing quite a vital role for today’s data-driven organizations. A Business Analyst understands the vision of the application, captures all possible features & functionalities of it then creates effective use cases, solves data challenges, communicates with technical teams & improves system efficiency.

The profile is expected to grow by 19% over the next 10 years. Moreover, according to analyst firm Breaking Glass, the average time to fill an open position for Business Analyst is 34 days, indicating a high level of demand as employers seeks out available candidates.

However, this fact is not enough for you to dive into this new career opportunity. And we know that. You might be dealing with a lot of doubts, questions regarding the career prospect of being a business analyst or what a Business Analyst salary entry-level or senior Business Analyst salary will be? and we’re here to help you. In this blog, we’ll help you find answers to:

  • Who’s a Business Analyst? His roles and responsibilities
  • What a Business Analyst's salary is? Business Analyst salary entry-level?
  • Why am I getting less paid?
  • Which top companies need business analysts?

Who is a Business Analyst?

The BCS Book Business Analysis (by Paul, Cadle and Yeates) defines business analysis as an advisory role which has “the responsibility for investigating and analysing business situations, identifying and evaluating options for improving business systems, elaborating and defining requirements, and ensuring the effective implementation and use of information systems in line with the needs of the business.”

Based on the size, type of organization, the business analyst needs to analyze four different things. Theses are development, models, designs, systems, or technology and following are his roles and responsibilities:

  • Bridging the gap between the IT and business & presenting findings to decision makers
  • Gathering information about problems to be solved or procedures to be improved
  • Interviewing personnel and conducting onsite observations to determine the methods, equipment, and personnel that will be needed
  • Analyze financial data, revenues and expenditures, and employment reports, among other data
  • Finding root causes for problems and proposing solutions that many include new systems, procedures, or personnel changes
  • Conferring with managers to ensure changes work

7 Reasons to Work On to Avoid Getting Paid Less as a Business Analyst

Understanding what employers look at when hiring new employees helps you negotiate better when you’re offered a job. Or what else do you need to do in order to achieve the promotion or high paycheck also helps you in your career growth. So here are 6 factors that affect your payscale as a Business Analyst so that you can work upon them and build yourself a great career!

  1. What's Your Desired Skill Sets

  • Apart from your educational degree and experience, there is a certain set of skills that is required by job recruiters in a Business Analyst. These skills not only refer to your technical skills pertaining to your roles and responsibilities as a Business Analyst but also certain additional soft skills.
  • As you work with a team and meet different people so it's equally important that you know how to communicate business requirements as effectively as you can.
  • These soft skills can be great interpersonal skills, strong communication skills that make you a sought out business analyst professional ensure that not only has command over hard skills but also over soft skills
  1. Your Specific Training & Certifications

  • As a business analyst you’ve to use certain tools and be equipped with some tech skills that it becomes important for you to possess some sort of certifications. Not doing so might negatively set you at the lower end of the pay range. 
  • If you have earned professional certification in your field that is very attractive to employers it widens your pay range. After all the more training you have, the less training and supervising your employer will have to do, so it’s a win-win for both.
  1. The Location of Where You Work

  • The location of where you work has a lot of influence on your pay scale. Suppose, your company is located in a large city with high costs of living, it automatically means you need to earn a higher salary for a comfortable lifestyle.
  • Similarly, if you work for a company located in an area with low or average cost of living, you can manage with slightly less salary. For eg., a person making $75,000 working for a company in Silicon Valley might struggle to make ends meet, while a person doing the exact same work for $60,000 in New Orleans could live a very comfortable life.
  1. Your Work Experience

  • It’s quite obvious that the more experience, skills and knowledge you possess the higher salary you can demand.Whether you’re just starting or you’re already an expert also impacts the salary needle between low to high. 
  • At an entry-level, a Business Analyst earns $69,230, while with enough experience say 3-7 years you demand an average salary of $89,772. Similarly, with industry experience over a decade or so, you can easily earn more than $94275 at a senior level. 
  • Because having a working experience means you not only know more about the work but also less likely to make work-related mistakes than a less-experienced employee.
  1. Your Poor Job Interview Skills 

  • If it’s essential to have soft as well as hard skills then it’s equally important that you know to display them in the right manner via resumes or during job interviews. 
  • A well-prepared Business Analyst resume & interview is a key to attract the amazing Business Analyst  salary. If you don’t know how, seek out consultancies that will armour you with job-ready skills or you can watch videos and attend workshops to hone your interview skills. 
  1. Your Negotiation Skills

  • There are companies out there that have a set career growth plan for their employees and you’ll achieve growth or hike in pay scale according to that. 
  • However, it is recommended that you  should be aware of the kind of remuneration you deserve. You should never be rude while negotiating the salary part and always ask for a reasonable amount that you know justifies the work you do. 
  • You need to stay up to date with the market trends so that you’re not being underpaid but also be ready to walk out when your demands are not being met.
  1. Your Company Size & Type

  • Though every company has its own salary range and parameters that they’ve set to offer to their employees. Parameters like scale purpose, & investment & which is why they have different salary allocations. 
  • We’re not recommending you to always go for the bigger fish in the job market but always stay prepared to grab an opportunity to work with the Big 4s through proper certification and training & even personal development course to improve your chances to get the IT Business Analyst salary you deserve.

Which Top IT Giants are hiring Business Analysts & How much a Business Analyst’s Salary is?

IT Business Analyst Salary in Top 10 Companies

Let’s Know What an IT Business Analyst salary looks like

Note that your salary grows with experience and expertise in your particular field. Also, with time as you continue to develop and upgrade your skills both tech and soft skills, you begin to perform your role with higher efficiency. Eventually getting the Business Analyst salary you wish for and deserve rightfully. Now, let’s discuss what an IT Business Analyst salary looks like based on job roles, experience and what you get in which country.

Business Analyst Salary Average: Based on Experience

  • Business Analyst salary entry-level with less than 1 year experience can expect to earn an average salary (includes tips, bonus, and overtime pay) of $59,251. 
  • A Business Analyst salary entry-level but with 1-4 years of experience earns an average salary of $65,016 or more. 
  • A mid senior Business Analyst salary with 5-9 years of experience is somewhere close to over $76,449. 
  • A senior Business Analyst salary if he has 10-19 years of experience is nearly $85,030 or more. 
  • A senior Business Analyst salary in their late career (20 years and higher) on an average is over $90,000.

Business Analyst Salary Average: Based on Employer

Let us now discuss how much the top employers pay employees to professionals with Business Analyst certificates. Oracle pays its Business Analyst near around $123,753 per annum. Other companies that offer high salaries for this role include Google: $112,080/yr, Southern California Edison: $110,049/yr and Accenture: $1,02,894/yr.

Business Analyst Salary Average: Based on Location

Like discussed earlier, location also plays an important role in determining where you land on the payscale range. Other factors like economic conditions of that country, your own experience, skill-sets as well as the place your company is located also bring variations to your salary. So we bring you the average salary in one of the major countries for the role of Power BI Developer:

Job Status based on Top Job Portals

Before applying to any job position, it’s an important step for you to know the availability of the particular job profile in real-time. And in order to give you the right insight, let us quickly have a look at the real-time numbers in terms of available jobs as a Business Analyst.

We have gathered the information from some of the top Job Portals from the US, India, UK, Australia, Canada, etc.

 

There are over 37000 job vacancies for Business Analyst in India

A whopping 80,678 job opportunities are available for Business Analyst in the US

10,362 jobs are available for the role of Business Analyst in UK

Conclusion

Even though it’s a new job profile, the need for Business Analyst is soaring high with a 19% increase in the next 5-6 years. Business Analyst plays various leadership roles such as facilitator, project coordinator or sometimes project manager as well but his primary role is to advise on best practices that can help organizations drive business growth and generate profits. 

Since every business organization needs to learn practices that generate revenue in a cost-effective manner, the requirement for Business Analyst isn’t going anywhere.

So, are you ready to take up this mantle? The job title is each day growing in salary figures, you need to make sure you get prepared for it with Business Analyst training and certification to excel in your career. 

Not sure where to get it from? There are several eLearning that can prepare you for this lucrative job profile and help you hone your practical skills around the latest Business Analyst tools & techniques.

Try our Free Business Analyst Training & Certification demo class & know how we help you grow your career organically!

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    Janbask Training

    A dynamic, highly professional, and a global online training course provider committed to propelling the next generation of technology learners with a whole new way of training experience.


Comments

  • B

    Brady Green

    Hey, will a Master's degree in MIS help me to become a Business Analyst or a Product Manager? I'm currently a CS undergrad but I think I like the Analyst role better than writing.

     Reply
  • C

    Clayton Adams

    This is quite an informative and easily comprehensible blog as well. Great work.

     Reply
  • F

    Francisco Baker

    Hi, I am interested in pursuing a certification course in Business Analyst. Can you suggest some easily doable certifications in India?

     Reply
  • Z

    Zander Gonzalez

    Thank you for such an insightful blog…. I really didn't think Business Analyst is full of opportunities.

     Reply
  • E

    Erick Nelson

    The blog is informative enough, I like it. But do we have any specific certification dedicated to it? Can you please drop the names!

     Reply
  • W

    Walter Carter

    Given Salary information is quite helpful, can you help me with the answer that is the maximum number of attempts, can anybody let me know where can I do Business Analyst certification.

     Reply
  • D

    Daxton Mitchell

    After going through this blog, I am confused, which one is better to pursue as a carrier Data Scientist or Business Analyst. Kindly help me with this.

     Reply
  • C

    Cash Perez

    Where can I pursue Business Analyst certification? I can’t find any particular names.

     Reply
  • M

    Martin Roberts

    Can I pursue a Business Analyst career even if I don’t have background knowledge in statistics or analytics?

     Reply

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