A Business Analyst job description is usually a bit ambiguous in nature. The job description may state that he is an analyst with the company doing the analysis or that he is a consultant doing the analysis for the company. This article tries to clarify the ambiguity by giving some of the common salaries of this position. This may help someone who is very confused about what kind of job he is applying for.
The overall average salary of a Business Analyst on a regular basis in the USA is $35k. The median salary also tends to be quite high at around forty thousand dollars. The average salary is dependent on many factors like location, years of experience and the type of business analyst that you are. The job profile of business analysts covers almost all kinds of firms.
Middle level professionals are generally paid slightly higher than the median. These are usually the professionals who have performed well and are in the entry-level jobs in the industry. These analysts are mostly employed by large corporations and management consultants. High-end business analysts may earn as much as fifty thousand dollars while management analysts who have performed well and are experienced may earn more than sixty-five thousand dollars. These high-end analysts are usually employed by international corporations that need to have a thorough understanding of the operational as well as organizational aspects of large businesses.
Analysts who possess good academic credentials can get jobs in government agencies like the Department of Defense, Department of Homeland Security and the Central Intelligence Agency (CIA). These agencies require excellent analytical and leadership skills. What is important is the ability to work in a team environment and problem solving skills. Most government agencies and companies also prefer applicants with a college degree in business analysis, finance and accounting or business administration.
The average salary for entry-level business analysts is about fifteen thousand dollars. Salaries tend to increase with experience. If you plan to increase your earnings and can provide your service in line with the salary offered by top consulting firms then you can expect to earn more. A master’s degree can help you attain what is termed an elite status in the market and attract more clients to your agency.
One of the most important things to look at when it comes to business analyst salary is the actual task involved in the job. As mentioned above, these analysts are required to perform various tasks that include problem evaluation, problem solving and statistical methodologies. Some analysts specialize in particular areas. Computer systems analysts specialize in using network software like Microsoft SQL Server, Java, XML, FTP, SMTP, and IMAP to analyze large databases and make reports on customer data. One can also go into the computer systems field and become a network or computer systems engineer. These engineers would use different types of software to help network operations.
Another thing to consider when figuring out the average salary for a business analyst job is the number of years of experience required. The more experience the better because experienced analysts have an upper hand when negotiating contracts. Experience also makes them more qualified to fill customer service requirements. The longer an analyst has been doing this type of work, the more he or she will be worth. This is why it is advisable to choose a consultant that has many years of industry experience.
One area where business analyst salary varies greatly is in the area of certification. The United States Bureau of Labor Statistics reports that the median annual salary for the information security analyst job is over one hundred twenty-five thousand dollars. The highest-paid analysts are those who hold national security clearances. Information security analysts must complete an additional two years of education after receiving a bachelor’s degree.