Introduction
Business analysts' job demand is expected to grow by 11% by 2029, faster than the average for all occupations, according to the US Bureau of Labor Statistics.
Business analysts are in high demand already, and it appears that this demand will only grow over time. The digital revolution, which is a major element fueling the demand for business analysts, was sparked by the COVID-19 epidemic. To fill such positions, however, there is a shortage of candidates with strong analytical skills—between 140,000 and 190,000 people in the US alone. Business analysts assist in a wide range of operations, and the business analyst salary varies according to their particular position, their qualifications, their level of experience, their business analyst certification, their location, and even the sector they operate in.
This blog will help you learn more about the basics of business analyst, business analyst salary range as per the experience and location, the roles and responsibilities, and the different factors that affect a BA’s salary and more. We will answer these key questions –
- What is a business analyst
- How much is business analyst salary in the USA?
- What is the entry-level business analyst salary?
- What are the factors that impact business analytics salaries?
Let’s go!
A Glimpse of Business Analyst and What They do
A business analyst is a professional who uses data to boost productivity and produce high-quality work for the organization that hires them, improving operational effectiveness. Business analysts examine processes, operational protocols, and vast data sets to boost organizational effectiveness. A management analyst is another name for a business analyst.
Business analysts look for and define solutions provided by firms that optimize their value. It involves creating business architecture, forming strategies, and demonstrating leadership. To support continual improvements in procedures and technologies, they offer goals and guidelines for programs and initiatives. Some crucial responsibilities of business analysts are cost reduction and the elimination or reduction of inefficiencies. Business analysts boost an organization's ability to succeed in the modern business climate and holds an excellent earning potential. In the next section, we will look at the average business analyst salary according to experience.
The Average Business Analytics Salary: As per Experience
The business analytics salary evaluation plan is broken into three parts: high-level, middle-level, and low-level depending on the applicant’s understanding and capabilities. Organizations use compensation evaluations to advance the value and reasonable compensation gauges.
1). Entry Level Business Analyst Salary
This is the place your voyage starts at an entry-level. This requires an Associate's degree and 0-2 years of involvement in the field. You should be aware of general business frameworks ideas, methods, and the technology that enables those methodologies to work. At this level, you should be able to check, survey, and measure explicit business frameworks and how they influence the organization and the clients.
At this stage, an entry-level Business Analyst commonly answers to a manager and is unable to make independent decisions.
|
Annual-based Salary
|
$40,000
|
|
Month-based Salary
|
$4,393
|
|
Week-based Salary
|
$1,135
|
|
Day-based Salary
|
$ 277
|
|
Hour-based Salary
|
$ 26.85
|
…….not a bad start, right?
2). Business Analyst Salary at an Intermediate level
So, it’s been 2-4 years at your entry-level position as a business analyst now! Would you encash more in this job in your entry level business analyst salary? Indeed.
At this point, you ought to have picked up learning on business framework ideas, database ideas, and you should even now be conversant in taking care of business frameworks and the needs of the clients.
You ought to have degree of a project, access the objectives of a project, and define your own ventures and frameworks to enable your organization to arrive at that particular goal.
At this level, you must have got the exposure to complex queries, and have had a few opportunities to be innovative., but there is still a long way to go and a lot more to achieve. Here you might report to a senior manager/department head instead of a team lead.
|
Annual-based Salary
|
$87,780
|
|
Month-based Salary
|
$6,106
|
|
Week-based Salary
|
$1,495
|
|
Day-based Salary
|
$457
|
|
Hour-based Salary
|
$42.20
|
3). Business Analyst Salary at Senior level
Bachelor’s degree is crucial at this level. Ensure you have one. You need 4-6 years of involvement with business frameworks now, as well. At this level, you should be able to check, evaluate, and measure explicit business frameworks and arrangements and how they influence the organization and the clients. You should be very capable to achieve the Senior Business Systems Analyst position.
Now, the huge distinction is that you may lead, direct, and be responsible for different employees (Sounds motivating, right?). Be an amazingly amicable and an incredible communicator. Increase your creativity and become fine with the obligation of being a team leader.
|
Annual-based Salary
|
$86,234
|
|
Month-based Salary
|
$6,106
|
|
Week-based Salary
|
$1,578
|
|
Day-based Salary
|
$526
|
|
Hour-based Salary
|
$62.93
|
Being a Senior Business Analyst, you can earn more than this. So why not climb?
4). Expert Business Analyst Salary
For this position, you are required to have a Bachelor's degree in a particular area and 6-8 years of experience in the field (that’s a great deal). Time and commitment are all you need to arrive at this position.
At this level, you should be able to characterize the scope of projects, figure out the goals, implement a proper plan, sort out and instruct everybody required (from project managers to the customers), and show outputs to them. Now, you will be in charge of everything. You will be responsible for keeping tasks on schedule.
The expected yearly compensation for an Expert Business Systems Analyst is $137,570.
5). Business Analyst Consultant Salary
With 8-10 years of experience as a Business Analyst, you will arrive here.
At this point, you will be capable of: checking, surveying, and measuring explicit business frameworks and arrangements and how they influence the organization and the clients.
You are likewise expected to be a specialist in Business Analyst techniques, processes, strategies, business frameworks, statistical analysis, and the majority of the steps engaged with shaping business arrangements and executing them from beginning to end.
Your ability in the Business Analyst domain should have furnished you with the mandatory skills. You're viewed as the top-level expert and authority now. Inquiries of the down-line employees will be coordinated to you.
Business Analytics Salary in Different Regions of the USA
A Business Analyst Consultant has an expected yearly compensation of $94,770 in the USA. In the below table we have listed the Business Analytics Salary different region-wise.
|
New Hampshire
|
$91,476
|
Ohio
|
$80,700
|
|
New Jersey
|
$103,352
|
Delaware
|
$82,245
|
|
Oregon
|
$98,814
|
Montana
|
$81,182
|
|
Michigan
|
$88,138
|
Illinois
|
$83,255
|
|
California
|
$104,091
|
Mississippi
|
$78,001
|
|
Nevada
|
$90,930
|
North Carolina
|
$81,741
|
|
Massachusetts
|
$99,292
|
West Virginia
|
$73,597
|
|
Alaska
|
$93,105
|
Missouri
|
$80,205
|
|
Washington
|
$98,423
|
South Dakota
|
$73,769
|
|
Maine
|
$84,380
|
South Carolina
|
$77,259
|
|
Arizona
|
$92,537
|
Kentucky
|
$77,876
|
|
Alabama
|
$83,486
|
Wisconsin
|
$77,323
|
|
Texas
|
$93,871
|
Hawaii
|
$73,354
|
|
Minnesota
|
$87,557
|
Iowa
|
$76,784
|
|
Virginia
|
$89,575
|
Utah
|
$72,564
|
|
Wyoming
|
$81,506
|
New York
|
$93,284
|
Entry Level: $40,000 to $70,000 with up to an 8% bonus
- Mid-level Career: $55,000 to $95,000 with up to a 10% bonus
- Senior Level: $70,000 - $150,000 with up to a 10% bonus
- Overall U.S. business analyst average salary: $45,000-$110,000 with up to a 10% bonus
Remuneration Statistics of the Major USA States and Cities
To clear the air about the Salary of a Business Analyst further we have collected some useful data, facts, and figures about the salary of Business Analyst all across the USA.
The graphical representation makes it very clear that the State of Wyoming is paying the best remuneration for the Business Analyst profile. We are now going to discuss the business analytics salary trends of some major areas as listed in the graphical representation above. You may notice that in some places the fresher salary is way too much than that of the areas paying a higher business analyst average salary, this is because in these regions the scope gets delimited in future of business analyst and the salaries remain stagnant for a long time.
Salary Structure Of Business Analyst - Wyoming
Business Analyst working in Wyoming is likely to earn an average annual wage of $111,180. Salaries typically start from $49,010 and up to $ 200,349. Business Analyst in Wyoming earns better than 96% of careers in similar fields. Here is a screenshot was taken from the Website of Sokanu that describes the situation in Wyoming very aptly-
Salary Structure Of Business Analyst - New York
People who are employed in the profile of Business Analyst earn an average yearly salary of $102,815. Salaries typically start from $48,315 and go up to $174,899. Business Analyst in Wyoming earns better than 64% of the professionals employed in careers in similar fields. Here is a screenshot was taken from the Website of Sokanu that describes the situation in New York very particularly-
Salary Structure Of Business Analyst - District of Columbia
The professionals working as Business Analysts can earn an average annual business analytics salary of $101,860. Salaries start from $64,650 and go up to $144,010. Business Analyst of Columbia earns better than 60% of the professionals who are employed in careers in similar fields. Here is a screenshot was taken from the Website of Sokanu that describes the situation in Columbia-
Salary Structure Of Business Analyst - Florida
The professionals working with the organization's Business Analyst can surely earn an average annual salary of $80,010. Salaries typically start from $38,090 and go up to $133,350. Business Analysts of Florida earns better than 73% of the professionals who are employed in careers in similar fields. Here is a screenshot was taken from the Website of Sokanu that describes the situation in Florida-
Salary Structure Of Business Analyst - Maryland
The professionals who are working as Business Analysts can earn a business analyst average salary of $94,790. Salaries typically start from $54,850 and go up to $134,440. Business Analyst of Maryland earns better than 68% of the professionals who are employed in careers in similar fields. Here is a screenshot was taken from the Website of Sokanu that describes the situation in Maryland-
Salary Structure Of Business Analyst - New Jersey
The professionals working as Business Analyst can earn an average annual salary of $97,360. Business analytics salary ranges typically start from $53,873 and go up to $155,108. Business Analyst of New Jersey earns better than 67% of the professionals who are employed in careers in similar fields. Here is a screenshot was taken from the Website of Sokanu that describes the situation in New Jersey-
Salary Structure Of Business Analyst - California
The professional enthusiasts working as Business Analyst can earn an average annual salary of $89,769. Salaries typically start from $49,224 and go up to $144,023. Business Analyst of California earns better than 70% of the professionals who are employed in careers in similar fields. Here is a screenshot was taken from the Website of Sokanu that describes the situation in California-
Salary Structure Of Business Analyst - Texas
The professionals working as Business Analyst can earn an average annual salary of $88,414. Salaries typically start from $49,069 and go up to $137,598. Business Analyst of Texas earns better than 70% of the professionals who are employed in careers in similar fields. Here is a screenshot was taken from the Website of Sokanu that describes the situation in Texas-
What Affects the Salary?
A). Location
Relatively, not many people would attach an additional hour or two to their drive, while some may think about moving to an alternate region for a better company. There are numerous who are attached to a specific area because of family or different commitments.
B). Working hours
The time required for a long drive, or having the option to leave right on time to get the children can have a major effect in pleasing different parts of an individual's life. Another fact is whether a profile expects 40 hours or 60 hours, seven days can substantially affect an individual’s satisfaction.
C). Company size
The size of the company also really matters! Working for a startup company with the risk that an employee will search for another activity in a year or two is an important fact to be considered. Everyone needs job stability. Huge companies will, in general offer greater steadiness however they accompany managerial and hierarchical difficulties that can cheapen the essential work.
D). Taxes
Let’s assume the average salary for business analyst in New York is $10,000 per year. Following will be the deductions:-
|
Salary
|
$10,000
|
|
State Income Tax Social Security Medicare Tax
|
-$92 -$620 -$145
|
|
Total Tax
|
-$857
|
|
Net Pay
|
$9,143
|
|
Marginal Tax rate Average Tax rate
|
11.65%
8.57%
|
Increase Business Analyst Salary By Many folds: Here’s how?
Wondering how to increase your average business analyst salary into many folds. Here are 3 things that can turn your world around.
A). Certification
If you are an inexperienced fresher the first thing to do is to find a certification course which not only gives you sound knowledge but also a practical grasp of technologies. As well as provides you with industrial experience.
On average, the compensation for ladies is $78,980, and for men is $75,410. The normal compensation of the top 5 certification holders came in at $85,804, or 11% expansion in profit, demonstrating a preferred critical position to seek after a Business Analyst certification. Even Industry Related certifications curated by JanBask Training guarantee a boost to your chances & salary by more than 50%.
Pro Tip: Get Business Analyst Certified From These
Now that you are prepared with all the handy business analyst skills. It’s time to upgrade your armoury with a Business Analyst Certification which shall act as proof of your skills learned.
Here are a few certifications you can enrol after the course to increase your Average Business Analyst salary & position;
- IIBA Entry Certificate in Business Analysis (ECBA)
- IIBA Certified Business Analysis Professional (CBAP)
- IIBA Certification of Capability in Business Analysis (CCBA)
- PMI Professional in Business Analytics (PMI-PBA)
JanBask Training also provides a curated "Online BA Training” Program to give you hands-on project-based knowledge & get you qualified through scenarios and missions in real-time.
B). Experience
As explained above, you might have understood now how the level of experience helps in the growth of the salary of a business analyst. 79% of respondents hold either a bachelor's or graduate degree and that a graduate degree in addition to experience came about in $2,566 more in income.
As per PayScale, a Business Analyst in IT with under one year of experience can hope to win a normal absolute pay (incorporates tips, reward, and extra time pay) of $57,608. An early career Business Analyst in IT with 1-4 years of experience procures a normal pay of $63,715. A mid-career Business Analyst in IT with 5-9 years of experience acquires a remuneration of $76,054. An experienced Business Analyst in IT with 10-19 years of experience acquires an absolute pay of $83,811. In their late career (20 years and higher), Business analysts get an absolute pay of $87,324.
Pro Tip: Start With an Entry Level Role
Accounting, finance, or business. Whatever domain you choose to become a Business Analyst you should start from scratch. Go for entry-level job roles & internships. Nothing beats experience, an experience of 1 or more years will allow you to choose the path you want to choose.
If you’re a fresher and looking to prepare yourself for an interview we have prepared a list of Top Business Analyst interview questions and answers to excel you.
C). Company size
Another report of 2019 shows that the employees working in top MNC’s earn 7-27% more than employees working in small organizations as business analysts.
Business Analyst is among the top 10 highest-paid jobs in the US. so, if you are a fresher or a passionate experienced person looking forward to a high-profile and high-earning job in this digital era. Here are 3 “Top tips” for you to earn high as a Business Analyst in 2022.
Popular Skills for High Business Analyst salary
In this section, we have compiled a list of the most popular skills to turn your average Business Analyst Salary into a High Business Analyst Salary.
Let’s take a look:
|
Popular Skills
|
Salary
|
|
Business Analysis
|
$72,453
|
|
Project Management
|
$75,261
|
|
Requirements Analysis
|
$79,871
|
|
Data Analysis
|
$77,760
|
|
SQL
|
$78,817
|
Key Factors that can Affect Your Business Analyst Salary
A). Certification
On average, the compensation for ladies is $78,980, and for men are $75,410. The normal compensation of the top 5 certification holders came in at $85,804, or 11% expansion in profit, demonstrating a preferred critical position to seek after a business analyst certification.
B). Experience
As explained above, you might have understood now how the level of experience helps in the growth of the salary of a business analyst. The report found showed that 79% of respondents hold either a bachelor's or graduate degree and that a graduate degree in addition to experience came about in $2,566 more in income.
As per PayScale, a Business Analyst in IT with under one year of experience can hope to win a normal absolute pay (incorporates tips, reward, and extra time pay) of $68,698. An early career Business Analyst in IT with 1-4 years of experience procures a normal pay of $70,815. A mid-career Business Analyst in IT with 5-9 years of experience acquires a remuneration of $76,054. An experienced Business Analyst in IT with 10-19 years of experience acquires an absolute pay of $83,811. In their late career (20 years and higher), Business analysts get an absolute pay of $88,674.
C). Company size
Another report of 2017 shows that the employees working in top MNC’s earn 11-27% more than employees working in small organizations as business analysts.
Salaries of Business Analyst Ramified by Industry
A Business Analyst commonly starts a vocation (at a passage level position), making around $50,000 every year. However, what amount of cash will that Business Analyst make in five years? What about in twenty?
As per the data found on PayScale, insurance and healthcare offer the highest starting wages for graduates of business analytics streams. For financial companies and software applications, the lowest salary (annual) for business analysts was estimated between $40,471 and $40,293, respectively. Business analysts living in the northeast and western areas of the U.S. earn higher salaries than those coming from the middle and southern regions.
As per more data found on LinkedIn, salary ranges of top companies for the profile of Business analysts are given below:-
|
Company
|
Median Salary
|
|
Chevron
|
$111,270 per year
|
|
Credit Suisse
|
$95,013 per year
|
|
Bank of America
|
$10,49,105 per year
|
|
General Motors
|
$96,574 per year
|
|
Capital One
|
$102,374 per year
|
|
Morgan Stanley
|
$85,240 per year
|
|
Cisco
|
$85,540 per year
|
|
TEKsystems
|
$83,400 per year
|
|
State Street
|
$86,060 per year
|
|
Ford Motor Company
|
$80,000 per year
|
|
Accenture
|
$79,340 per year
|
|
Liberty Mutual Insurance
|
$80,350 per year
|
|
Tata Consultancy Services
|
$93,449 per year
|
|
Deloitte Consulting
|
$72,900 per year
|
|
Amazon
|
$72,500 per year
|
|
U.S. Bank
|
$67,276 per year
|
|
Deloitte
|
$91,412 per year
|
|
Charter Communications
|
$72,000 per year
|
|
Citi
|
$70,700 per year
|
Types of Business Analyst
In the following section, we have gathered a list of Business Analysts out there looking for their first employment, or that aren't sure of how much cash to request in the wake of working for an organization for a long time.
|
Entry Level Business Systems Analyst
|
$56,043
|
|
Intermediate Level Business Systems Analyst
|
$63,335
|
|
Senior Business Systems Analyst
|
$1,05,998
|
|
Expert Business Systems Analyst
|
$137,320
|
|
Business Systems Analyst- Consultant
|
$102,825
|
|
Entry Level Business Analyst Salary
|
$54,272
|
|
Intermediate Level Business Data Analyst
|
$70,123
|
|
Senior Business Data Analyst
|
$87,713
|
|
Business Process Consultant
|
$106,234
|
|
Business Development Director
|
$196,235
|
Conclusion
As a business analyst in the USA, you can earn $81,896 per year in USA, which can raise to $141,590 per year as you attain the certifications and experience. There are many other components based on which the compensations of the business analysis experts rely upon, which can be region, qualification, skills and so on. Pursue the path of learning and obtaining the skills in the related field and that is the thing that will assist you with sailing the ship of achievement.
So, if you liked our article on “What is the Average Salary of Business Analyst in the USA”. You can also take part in our tailored Business Analyst training course which has successfully trained more than 2500 students who are working with successful MNCs.
So, What now! If you have more tips or want to share more information regarding the topic, you can share them in the comments section below.
Frequently Asked Questions
1. What educational requirements must I meet to work as a business analyst?
The ideal candidate will have a bachelor's degree in business or a closely connected subject. However, some employers also demand a master's degree. Finance, computer science, business administration, and information systems are additional relevant fields of study.
2. What credentials are required to work as a business analyst?
The leading organisation in the world that offers business analysis certification is the International Institute of Business Analysis (IIBA). You must pass a series of tests to become a business analyst, including the ECBA, CCBA, and CBAP exams.
3. What salary can I earn as a business analyst?
The salary of a business analyst varies by location and experience. If you're unclear of the pay, you may learn more about salaries depending on region, industry, and experience by visiting websites like Glassdoor, Payscale, or Indeed's Salary Calculator.
4. Do business analysts work in the IT industry?
Business teams and IT teams collaborate extensively with business analysts. To develop the greatest solutions for a firm, they also require technical expertise and computer understanding. Because of this, most businesses view it as a technical position within the IT division.
5. Are business analysts able to work remotely?
Of course, business analysts can work remotely, but it all depends on the company's policies and their job responsibilities.
6. What are the factors that affect business analyst salaries?
Here is the list of key factors that affect business analyst salaries –
- Job responsibilities.
- Experience.
- Size of the company.
- Qualification.
- Skills.
- Location.
- Type of the company.
7. What is a business analyst salary?
The average salary for business analyst is $80,770 in the United States.
8. What is the business analyst salary entry level?
The business analyst salary entry level is $59,092 in the United States.
9. which nation has the highest business analyst starting salary?
Switzerland tops the list with the highest job opportunities offers the best business analyst starting salary.
10. What are the business analyst roles and responsibilities?
Business analyst have to take care of financial analysis, forecasting, and budgeting, reporting and regulatory requirements, and a lot more. Here is the guide on roles and responsibilities of business analyst.
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