Currently, business analysis is an emerging practice in the IT sector. Most companies have realized the requirement of changing business strategies. Thus, efficient business analysts are the need of the hour.
Business analysts make data-driven decisions to maximize the potential of organizations. They help in increasing efficiency by significantly reducing costs. Besides, they integrate new processes into the systems of organizations.
While business analysis is an excellent career option, opportunities are enormous. Many leading institutions are offering practical business analyst courses. Enthusiasts can associate themselves with a diversified working profession.
The ever-increasing demand for business analysts significantly boosts their payscale. This article will discuss the expected salary of a business analyst. It will further discuss the roles and responsibilities of a business analyst. Let’s get started.
Business Analyst- Who is it?
Business analysts are none but professionals from the business intelligence domain. They function as a bridge between the IT and business departments. They efficiently contribute to the sustainability and profitability of businesses.
With their knowledge and skills, they effectively make improvements. They significantly contribute to improving services, products, and quality.
How to become a Business Analyst
For any career option, you must be familiar with the position. It is essential to figure out what the job entails. Business analysts help in identifying the requirements and problems of a business.
They also identify significant opportunities for business growth. Moreover, aspirants must clearly understand the data analysis principles. Listed here are specific ways of becoming a business analyst:
- Acquire an MBA or a relevant degree in the business domain,
- Commence working and get familiar with business analytics tools,
- Work on industry-specific projects to gain relevant work experience
- Pursue data and business analytics courses
- Practice, develop, and present data visualizations
- Formulate a portfolio for business analysts, thereby showcasing your talent
Salary of Business Analysts
The salary of business analysts widely varies concerning the position. Let’s check out the average salary of business analysts.
- Salary for Fresher Business Analysts
The average salary for fresher business analysts is $70,660 per annum. You must be familiar with the general business framework. Besides, being aware of methods and technologies is also essential.
- Salary for Experienced Business Analysts
The average salary for experienced professionals is $83,008 per annum. Experienced business analysts are capable of evaluating and measuring business frameworks. Besides, they can influence an organization and its clients.
However, experts with 15+ years of industry experience can earn up to Rs. 1,290,000 annually. Nevertheless, it can vary according to the position and company.
This listing shows the different positions related to business analysts and their salaries.
| Position | Average Salary |
| Data Analyst | $64,859 PA |
| Analyst | $60,885 PA |
| Business Intelligence Analyst | $86,268 PA |
| Operations Analyst | $68,976 PA |
| Business Systems Analyst | $81,989 PA |
| Reporting Analyst | $66,066 PA |
Salary of Business Analysts Based on Location
The average salary of business analysts differs according to location. Let’s check them out.
- The Average Salary of Business Analysts in India
Irrespective of cities and states, the salary of business analysts in India ranges from Rs. 300,000 PA to Rs. 1,290,000 PA. Besides, the average salary is Rs. 625,000 PA.
- The Average Salary of Business Analysts in the US
The average salary of business analysts in the US is $74,461. The professionals also get bonus perks and visa sponsorship.
- The Average Salary of Business Analysts in Delhi
Business analysts in Delhi earns an average of Rs. 600,000. However, experienced professionals can earn up to Rs. 1,252,000 PA.
- The Average Salary of Business Analysts in Bangalore
The IT hub of India has the top job listings. The business analysts have the highest pay scale in Bangalore, with an average annual income. 660,000.
- The Average Salary of Business Analysts in Hyderabad
Business analysts earns around Rs. 680,000 PA. But with greater experience, skills, and knowledge, the salary might shoot up to Rs. 1,345,000 PA.
- The Average Salary of Business Analysts in Chennai
Chennai has plenty of opportunities for technical background professionals. Thus the average salary is also incredibly high when compared.
Business analysts, on average, earn Rs. 775,000 per annum. But the salary might shoot up to Rs. 1,371,000 PA. However, it entirely depends on your skills and experience.
Average Salary of Business Analysts Based on Experience
Like all other professions, the salary of business analysts increases with experience. An entry-level or fresher business analyst earns around Rs. 350,000 to Rs. 400,000.
However, professionals with 5+ years of experience can earn up to Rs. 900,000 PA. And with 10+ years of experience, can earn up to Rs. 1,500,000 PA.
Average Salary of Business Analysts Based on Organizations
The top companies like Accenture, Barclays, and Capgemini, offer the highest salary packages. The listing shows the major companies hiring business analysts along with their salaries.
| Company Hiring Business Analysts | Average Salary |
| Fannie Mae | $119,022 PA |
| Intuit | $131,708 PA |
| EY | $112,790 PA |
| Pacific Gas & Electric Company (PG&E) | $117,679 PA |
| Barclays | $107,129 PA |
| UBS | $109,335 PA |
| Accenture | $103,513 PA |
| Thermo Fisher Scientific | $108,570 PA |
| Intel | $100,970 PA |
| Lockheed Martin | $97,635 PA |
| Capgemini | Rs. 703,000 PA |
| Wipro | Rs. 592,000 PA |
| Tata Consultancy Services | Rs. 684,000 PA |
| HCL | Rs. 533,000 PA |
What are the Roles and Responsibilities of a Business Analyst?
Here are some of the significant roles and responsibilities of businesses.
- Analyzing business processes and implementing optimization strategies
- Evaluating business processes and identifying requirements
- Automating existing systems of businesses
- Assessing areas that require improvement and implementing solutions
- Presenting ideas for improving documents
- Remaining updated with the latest and advanced technology
- Gathering data from stakeholders for building insightful reports
- Delivering insights plans to other departments
- Updating business processes and implementing them
- Working with the clients and the IT department of the company
- Maintaining resource allocation and cost-efficiency
To conclude
By now, you must’ve learned the responsibilities of a business analyst. You need to acquire all the skills to become a successful business analyst. We are sure the attractive salaries will not make you think otherwise. Think accordingly and start preparing yourself today.
Lucas Noah, a distinguished writer with a Bachelor of Information Technology (BIT) degree, is currently enriching the digital spaces of Creative Outrank LLC and Oceana Express LLC with his expertise. His professional background in technology lays a solid foundat... Read more