Business Analyst Salary: 2022 Career Guide With Salary Data
How much do business analysts make in the United States?
Business analysts are driving modern products and services to an exponentially progressive path globally.
According to a report by Statista, the big data analytics market in the world will reach up to USD 68 billion in 2025 from nearly USD 15 billion in 2019.
Considering the figures, we can forecast a great increment in IT Business Analyst jobs soon. So, if you are considering this field as a career option, you must focus on upgrading your analytical skills to excel in the professional journey.
A report by Statista also states that the United States is leading the big data and business analytics market with nearly 51% market share. Hence, it is clear that business analytics job applicants in the US have higher chances of getting a role than applicants in the rest of the world.
Many business analysis professionals, mostly the entry level business analysts, struggle with a question i.e., ‘how much does a business analyst make?’. We are here to answer that with the help of some latest statistics and demographics on business analyst salaries in the United States.
Let’s get started with a summary of this intuitive guide:
- Certain factors such as work experience, company size, and job location affect a business analyst salary the most
- Improve your business analysis skill set to increase the range of your business analysis salary
- Business analysis certifications and work experience can also uplift your business analyst salary
Here we have categorized business analyst salaries at every aspect by answering the following questions:
- Do business analysts make good money?
- What is the starting salary of a business analyst?
- Is business analyst a high paying job?
- What skills affect a business analyst salary?
- How can I increase my business analyst salary?
Being a 21st-century job seeker, you might also be looking for resume-building assistance because of tough competition for business analysis jobs across the globe.
Hiration’s Online Resume Builder is the best pick for such cases, as it comes with AI-powered features to help you build a job-winning business analyst resume.
How Can You Become a Business Analyst?
To become a business analyst, you must have a graduate degree in business analytics. You can improve your salary package with the help of additional certifications or a master’s degree.
The core functionality of a business analyst in an organization is to predict, analyze, and deploy the required transformations in information systems, business processes, and policies.
Business Analyst Roles & Responsibilities
To give you an in-depth business analyst career insight, we have listed some real-time business analyst roles and responsibilities here:
- Create Post Promotional analysis reports for the customer and sales team and send the analytical re-cap on a routine basis
- Assist in some forecast and scenario planning. Ability to identify and understand patterns and interconnectivity of relevant data
- Maintain and communicate the Joint Business Planning reconciliation data file for Annual Business Plan with key customers
- Use customer portal sales forecast, Nielsen, and Matrix to provide analysis for management of annual business plan (BP) and rolling estimate (re) processes
Also Read: Business Analyst Job Description
The Average Business Analyst Salary in the US
Business analysis is one of the most trending and highest paying career options in the United States. A recent report by Indeed states that the average business and analytics salary in the US is USD 74,143.
The salary of a business analyst depends upon multiple factors that can be seen below:
Business Analyst Average Salary by Experience Level
Job experience is the most influential factor that has a major impact on the business and IT analyst salary. Like any other profession, you would be paid less if you are an entry level business analyst but with more experience you can expect a higher salary package.
So, if you are looking for a business analyst starting salary details in the United States, you can check out the data collected from PayScale in the table given below.
| Experience Level | Average Business Analyst Salary |
|---|---|
| Less than one year | USD 59,712 |
| 1-4 years | USD 65,707 |
| 5-9 years | USD 76,667 |
| 10-19 years | USD 86,004 |
| 20+ years | USD 90,873 |
Business Analysts Hourly Salary in The US
According to Salary.com, the average business analyst salary per hour in the US id USD USD 30 and the salary range falls between USD 26 and USD 34. Hourly wages can vary based on different factors like certifications, education, work experience, and additional skills.
Top Business Analyst Salary Providers in the US
You can take a look at the top companies in the United States offering the best in market IT Business Analyst salaries across the country.
The data has been accumulated via one of the most trusted career platforms named Indeed:
| Company Name | Average Business Analytics Salary |
|---|---|
| Fannie Mae | USD 126,763 |
| EY | USD 112,790 |
| Oracle | USD 112,214 |
| Barclays | USD 110,174 |
| Pacific Gas & Electric Company | USD 109,667 |
| Capital One | USD 105,652 |
| Favor TechConsulting | USD 104,370 |
| Accenture | USD 100,102 |
| Intel | USD 99,702 |
| UKG (Ultimate Kronos Group) | USD 97,974 |
| General Dynamics Information Technology | USD 96,400 |
| Kaiser Permanente | USD 96,258 |
| BNY Mellon | USD 95,519 |
| Tata Consultancy Services (TCS) | USD 95,211 |
| Cisco | USD 92,014 |
| State Street | USD 87,752 |
| Northrop Gurmman | USD 85,769 |
| UBS | USD 85,703 |
Business Analyst Salary by Region in the US
The location of your targeted company also affects your business analyst salary. Here you can check out the highest-paying cities in the United States:
| US Region Name | Average Business Analyst Salary |
|---|---|
| New York | $109,593 |
| Massachusetts | $110,150 |
| Georgia | $93,530 |
| Texas | $97,080 |
| Alabama | $90,089 |
| District of Columbia | $103,300 |
| Virginia | $97,420 |
| New Jersey | $97,860 |
| Washington | $97,910 |
| Connecticut | $94,410 |
| New Hampshire | $90,190 |
| Illinois | $79,902 |
| Wyoming | $79,590 |
| North Carolina | $83,700 |
| Maryland | $97,850 |
| Idaho | $79,680 |
| Pennsylvania | $86,281 |
| California | $82,550 |
| Alaska | $89,550 |
| Colorado | $86,560 |
| Florida | $79,630 |
| Michigan | $79,140 |
| Vermont | $76,520 |
| Ohio | $77,730 |
| Arizona | $77,891 |
| Puerto Rico | $50,810 |
| Guam | $59,900 |
| Indiana | $77,305 |
| Nevada | $72,920 |
| Rhode Island | $81,010 |
| Kentucky | $72,472 |
| Minnesota | $78,430 |
| Oregon | $78,760 |
| Delaware | $77,520 |
| Kansas | $72,444 |
| Hawaii | $78,980 |
| Missouri | $76,230 |
| New Mexico | $74,570 |
| Tennessee | $75,530 |
| Louisiana | $72,900 |
| Arkansas | $63,021 |
| Wisconsin | $73,570 |
| Nebraska | $76,700 |
| Oklahoma | $74,820 |
| North Dakota | $71,840 |
| Iowa | $72,095 |
| South Dakota | $68,890 |
| Utah | $72,320 |
| West Virginia | $74,840 |
| South Carolina | $68,900 |
| Mississippi | $64,520 |
| Montana | $67,340 |
| Maine | $69,830 |
| Virgin Islands | $60,380 |
Related Jobs Salaries to a Business Analyst Profile
Here, we have also listed the average salaries of job profiles related to a business analyst.
The below-given data has been gained via the 2022 Indeed report on business analyst salary:
| Profile Title | Average Annual Salaries |
|---|---|
| Data Analyst | USD 65,635 |
| Business Intelligence Analyst | USD 87,758 |
| Business System Analyst | USD 82,218 |
| Analyst | USD 62,044 |
| Operations Analyst | USD 71,014 |
| Reporting Analyst | USD 67,341 |
Also Read: Business Analyst Resume
Key Skills Required to become a Business Analyst
To get a highly paid business analyst job, you must be equipped with all the latest business analysis and data management skills.
Check out the list of some business analysis skills that can affect your career growth as a business analyst:
| Business Analyst Skills | Effect on salary in % |
|---|---|
| Master Data Management | 43% |
| Microsoft Dynamics GP | 36% |
| Product Support | 36% |
| SAP Quality Management | 36% |
| Product Development | 29% |
| Microsoft Dynamics AX | 27% |
| Program Management | 26% |
| Team Leadership | 26% |
| Supply Chain | 22% |
| Information Technology Infrastructure Library | 19% |
Top 10 Colleges For MBA in Business Analysis in The US
To help you kickstart your career as a business analyst or increase your salary, we have listed the top ten educational institutes offering MBA programs in the United States here. You can choose any of them to boost your business analyst career in 2022:
| Name of Institution | Location |
|---|---|
| Massachusetts Institute of Technology | Cambridge, MA |
| Carnegie Mellon University | Pittsburgh, PA |
| University of Pennsylvania | Philadelphia, PA |
| Georgia Institute of Technology | Atlanta, GA |
| University of Texas | Austin, TX |
| New York University | New York, NY |
| University of Chicago | Chicago, IL |
| University of California | Berkeley, CA |
| Purdue University | West Lafayette, IN |
| Arizona State University | Tempe, AZ |
Factors Affecting a Business Analyst Salary
Apart from the company location, experience, and education, three additional factors also affect a Business and IT Analyst salary:
Working Hours
The working hours of a business analyst vary according to the company requirements. Some companies require 40 hours a week while some urge for 60 hours.
People working for 60 hours a week usually earn better than the employee at the same designation working for 40 hours a week.
Company Size
Company size is a vital factor that can affect your business analyst salary. Young startups might offer you higher salaries, but mostly business analysts prefer to work in giant MNCs as they provide job stability.
Taxes
The tax imposed on your salary also degrades it. Hence, we can consider it as a factor that can affect your business analyst salary.
How to Increase Your Business Analyst Salary
To grow potentially as a business analyst, you can consider following the below-given guidelines.
Get Certified With Business Analyst Certifications
The most important step to increase your business analyst salary is to get certified with the latest certifications in business analysis.
Here are some popular business analysis certifications you can consider for steady professional growth:
- Certified Analytics Professional | CAP
- Entry Certificate in Business Analysis | IIBA
- Certification of Competency in Business Analysis | IIBA
- Certified Business Analysis Professional | IIBA
- Agile Analysis Certification | IIBA
- Certification in Business Data Analytics | IIBA
- Certified Foundation Level Business Analyst | IQBBA
- PMI Professional in Business Analysis | PMI
- Business Analyst Master Program | Simplilearn
Gain Experience as a Business Analyst
According to the above-given statistics on Business and IT Analyst salary based on experience, we can see that an experienced business analyst earns far better than the entry-level or intermediate business analyst.
Hence, we recommend you keep upgrading your skills and gain as much experience as possible without any career gap in your journey as an IT Business Analyst. Your salary will eventually increase every year in your business analysis career.
Hiration Career Assistance
Hiration can be a reliable companion in your professional journey with its AI-powered career assistance tools. We, at Hiration, have built a marvelous Online Resume Builder to ease your resume building process in easy steps. It comes with a 24/7 chat support to get over every hudle while using in easy steps.
Apart from this, you can also check out our additional Artificial Intelligence-based tools to polish your profile and performance professionally:
Key Takeaways
Have a glance at the key takeaways of this reference guide:
- Business analyst salaries can be highly influenced by the size and location of the company, your work experience and educational qualifucation
- You can increase your business analyst salary by getting certified and gaining experience
- Skill upgradation can make a great positive impact on your salary enhancement
Now that you have the latest latest statistics around business analyst salaries,you can use this information for your next job switch and even enter the business analysis career niche.
For any additional career assistance, you can contact us at support@hiration.com.