Business analysts are the fix-it men and women of the corporate world. Their job is to improve business processes (e.g. productivity, output, distribution, etc.) and their solutions are often technological ones.
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Business Analyst Responsibilities
Business analysts have high-powered, high octane jobs. On any given day, they may be asked to:
- Establish the objectives and scope of business and IT systems
- Identify multifaceted organizational problems and devise data-driven solutions
- Conduct statistical analyses, surveys, training workshops and tests
- Recommend changes to processes, personnel or product offerings to make internal departments more efficient
- Invent new systems (e.g. stock control) or alter existing ones
- Make specific IT recommendations and support their implementation
- Act as a liaison between management and technical developers (e.g. system architects)
Business analysts have varying degrees of technical know-how. Some tackle each job by employing their know-how in business administration, finance or management. The benefit of this approach is that they can see the “big picture” – the scope of the challenge within the industry. Others come at the problem with extensive knowledge of IT processes.
Note: Although the roles are often merged in small companies, the job of a Business Systems Analyst (BSA) may be much more technical in nature (e.g. coding, designing programs, etc.) than a conventional analyst. When you’re looking at job descriptions, examine the fine print to determine what your tasks might be.
An Interview with a Real Business Analyst
We interviewed Chris Hunter, Business Analyst at Monster Worldwide, to find out what it takes to succeed as a business analyst. Read on to learn about the pros and cons of being a business analyst, their impact on Monster’s overall success, and Chris’s advice to students.
A: The best advice I can offer to interested students is to ask any and all questions early. Our job is to understand data, explain patterns, showcase trends and offer insights, all of which can be a complex process, so ask away!For students and recent grads, I highly recommend finding a job via Monster! But in all seriousness, finding the right business analyst role requires patience and diligence. I assumed I’d find work right out of school, but it took more than half a year to find this ‘monster’ opportunity.
Lastly, students should access great resources, such as industry books, trade articles and more, to understand the variety of roles that they may find themselves in. Likewise, keeping up on trends, data environments and new methods will always add to your skill sets. Whether through a certification, class or conference, always be hungry to keep learning and growing.
2018 Business Analyst Average Salaries
Because the term “business analyst” may mean anything from a lower level analyst to an extremely well-paid independent consultant, you’ll find significant variations in salary statistics. According to PayScale, the best-paying jobs for a business analyst (unspecified) congregate around San Francisco, New York, Seattle and Houston – the sites of major global, IT and financial corporations.
Business Analyst
Glassdoor
Average Salary: $70,170 per year
Minimum: $50,000
Maximum: $96,000
PayScale
Median Salary: $59,292 per year
Total Pay Range: $43,008 – $82,755
Business Analyst, IT
PayScale
Median Salary: $67,500 per year
Total Pay Range: $48,514 – $95,660
Business Intelligence Analyst
Glassdoor
Average Salary: $79,613 per year
Minimum: $59,000
Maximum: $104,000
PayScale
Median Salary: $65,980 per year
Total Pay Range: $47,972 – $93,533
Note: Salary information from Glassdoor and PayScale was retrieved as of January 2018.
