Analysis plays a very important part in the success of any business. Therefore, the field of the business analyst has highly sought after. A qualified and professional business analyst has many roles in the success of a business. Some of the roles that he must fulfill include system analyst, requirement analyst or project manager. He is basically hired for troubleshooting. This troubleshooting includes examining scores of data provided by the company and pointing out the areas of concerns for the management to look at. He also needs to put the current data in a historical perspective, comparing it with the previous data. If one is looking to take up the job of a business analyst, the salary trend is a must research entity. We have compiled that research in one place so you don’t have to run from pillar to post for the requisite information.
The Important Number
Before we get into the details of trends based on kinds of business analyst, it is important to address the elephant in the room. The most frequently asked question is about the actual figure a business analyst makes. According to a survey, a business analyst in the USA makes $91,500 per year on average. This is quite a handsome amount of money when compared with any other job in the service providing arena. Microsoft pays out the most in this department. The general trend in IT Company is on the higher side when it comes to when it comes to the average salary with Microsoft leading the pack.
The Experience Factor
However, the amount annotated above is not a fixed value as the companies are willing to pay for your experience as well. You may hop from one company to another due to any reason. Although, ensure that the hopping is from one kind of BA to another, staying in the same niche. This enhances your experience in one kind of analysis, enabling you to ask for more money for the same job citing your personal and official experience. According to another financial report, the rise in salary for a business analyst is about $900 every year. In comparison to the software industry ($220), this is a huge quantum of money. This is due to the lack of skilled business analysts in the world and regional market, let alone the ones with a large set of experience.
The Overall comparison
In the end, we shall leave you with a comparative study in order to show what kind of salary you will make on average in your country or region. As stated the average yearly income of a business analyst in the USA is $91,500. Australia pays $112,000, Canada pays $89,000, India pays $18,000, South Africa pays $58,000 and UK pays $89,000. This practically shows that your worth as a business analyst will never be diminished in any country or region in the world. Adding experience will definitely give you the edge allowing you to ask for and receive more money.