Average Salary for a Business Analyst – Holding up the key role in every business scenario, business analysts do impact on financial making for companies. However, what is the average salary for a business analyst? Is the average salary for a business analyst reasonable if compared to its responsibilities?
Let’s make a comparison through this article. We will see the details of the job salary as well as job descriptions. In the middle of the article, you can also find the work categories and entry qualifications.
Average Salary for a Business Analyst
|City||Annual Salary||Monthly Pay||Weekly Pay||Hourly Wage|
|San Francisco, CA||$94,431||$7,869||$1,816||$45.40|
|Santa Clara, CA||$93,060||$7,755||$1,790||$44.74|
Business Analyst Job Definition
A business analyst is an employee who helps companies to improve business processes, systems and assessments. This position is a part of project teams playing a vital role in giving impacts on the financial outlook of a business.
Business analysts have some similarities with other jobs due to the responsibilities in an organization. Related job roles may include data analysts, data scientists, and consultants.
Being a business analyst is encouraging since you must look at and investigate the overall company operations.
You are responsible for any research conduct, data analysis and processes, testing, and methods and strategic recommendations for business interest.
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Besides conducting market analysis and monitoring data, most business analysts perform several job descriptions including:
- Analysing business structure and goals along the use and most appropriate implementation of technology.
- Outlining business problems, solutions, and possible chances.
- Regulating ways to improve the current business processes.
- Identifying business issues by utilising data modelling or other proper techniques.
- Designing new features for improving business profit.
- Communicating with seniors to discover the right ways to achieve the business goals.
- Recommending and formulating methods to improve businesses to improve based on research and data analysis results.
- Influencing both external and internal stakeholders about the benefits of new strategies.
- Overseeing the application of new systems and technology.
- Conducting workshops or business analyst training sessions.
Some business analysts may also have additional tasks in business organisations such as forecasting, budgeting, and financial modelling. Others work closely with clients and reporting useful information for them.
Business analysts can occur in a wide range of areas. The responsibility is also varied depending on the business sectors. Business analysts are typically classified into several categories such as:
- IT business analysts.
- Business process analysts.
- Business/systems analysts.
- Data analysts.
- UX analysts.
- Functional architects.
To apply for a job in business analyst openings needs a bachelor degree in business, administration, management, IT, economics, accounting, or any related subjects. Some employers are also open for graduates from any disciplines whether from colleges or apprenticeship programs.
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Another qualification relies on certificates from several accredited programs like IIBA or BCS. Adequate working experience possibly ranging from 2 to 5 years is also required. Candidates of business analysts should have some core skills to endure with the job descriptions. These include:
- Excellent communication skills (verbal and written).
- Proven experience in the analytical sector.
- Unconventional Excel, statistics skills and other related software mastery.
- Good in technical, analytical and conceptual thinking.
- Organisational and consultative skills.
- Knowledge of cost benefit, business structure, network, database and other types of technology.
This is how much the average salary a business analyst can make according to averageSalary.Co. Well, do you think the annual income of a business analyst is decent enough? Then, think of this as an alternative choice for the future.