Business Analyst Salary
Business analysts are a crucial part of an expanding business. Business analysts (also called BAs) identify missing parts of a system, help build more efficient parts of a system, and communicate and document the changes. In other words, a BA helps build better platforms for the enterprise. If you have good communication and analytical skills, the title of BA is good for you.
What Does a Business Analyst Do?
Most business analysts have some type of development or IT experience. You must be able to identify areas of a system that could have improvement, communicate the changes to business stakeholders, and facilitate the process of building the changes with developers and IT. BAs also do some documentation that keeps track of the system changes that are implemented in the past and the future.
Prerequisites: How Do I Get Into the BA Field?
The first prerequisite is understanding how systems work, how they interact, and what can be done to make them more efficient. In many cases, a BA was a software developer, a project manager, or some type of technical person previously. Understanding this process improves the ability for you to work as a BA since you understand software.
Next, you need good communication skills. Once you define system improvements, you must be able to communicate changes to managers and any people the changes affect. You’ll be tasked with championing changes because these changes will be your own project. You’ll also need the ability to create good documentation, so writing in a way that’s easy for your users to understand is another fundamental part of the process.
Business Analyst Salaries
Your level of salary depends on how much experience you have and the type of analysis you do. For instance, a senior IT analyst makes up to $128,000 each year according to the Indeed salary survey listed below.
Most IT related BA positions pay the most. Technical BAs make about $90,000 each year. Even a junior BA can make about $50,000 each year, which is a good salary to start off with right out of college, if you think it’s the right career for you.
Most of the salaries in the image above focus on IT systems, but you can make a good living out of other types of BA positions. The first salary in the image is a financial analyst, which has a salary of about $90,000 each year, but this number increases when you gain some experience and popularity in the field.
The average salary in this group of professionals is about $85,000 each year, but you can make much more than that after a few years in the industry. If you like to analyze systems and help companies grow, BA positions are right for you.