Business analysts play a key role in any organization and are rewarded a nice business analyst salary for doing so. Before venturing into any career it is important to assess the amount of money that you can make along with the job outlook growth for future years. Once you’ve learned more about these two factors you can then decided if this is a career field is worth pursuing. You can also determine how much money you’ll be able to spend towards your education based on the salary you’ll be able to earn down the road to pay back potential student loans, certification classes, trainings and so forth.
Business Analyst Job Outlook
The good news is business analyst positions continue to grow and employment remains strong due to the constant increase of the importance of information technology systems in business. According to an article in CNN based on payscale.com’s list of best jobs in America that will see opportunities, the job of IT business analysts will experience a 29% growth between the years of 2006 and 2016. Business analyst jobs ranked 17 on the list of most job growth between these years.
Modern day organizations are relying more and more heavily on business analysts to ensure their companies are making the best and most efficient use of technology. In past years these jobs were outsourced to consultants, however now companies are realizing the importance of these positions and have began to use in-house business analysts who have a deep understanding of the specific industry and business.
Business Analyst Salary Figures
There are several factors that can determine a persons business analyst salary. Some of these factors include educational background, certifications, experience, job locations and industry. Those with more experience and an MBA will earn more than those with less experience and less credentials. Working in larger cities at a company’s headquarter will also tend to earn an analyst more money.
The average business analyst salary in March 2012 was around $82k annually. Business analyst salaries for all job postings across the United States were 14% higher than all other job postings as of March 2012.
Junior business analysts earn around $54k annually, while senior business analysts earn around $87k annually as of March 2012.
Based on 3,426 salaries that were posted from across the country by anonymous employees at various companies in a variety of industries; the median business analyst salary was calculated to be around $78k as of March 2012.
Additional Business Analyst Salary Breakdown
As of March 2012 a business analyst I salary (0-2 years of experience) was estimated to be around $50k annually; business analyst II salary (2-4 years of experience) $65k; business analyst III salary (4-6 years of experience) $75k; business analyst IV (6-8 years of experience) $85k.
Business analyst jobs will experience stable growth for many years to come. Depending on your educational background and experience you will have a chance to earn a business analyst salary which is 14% higher than all job postings across the United States on average. For those that excel there is plenty of opportunity for job advancement. For more information about business analyst jobs please visit our web page titled business analyst job description.
