Business Analyst Salary

 

The financial viability (read in-hand salary!) of any career option is one of the primary factors that will decide whether to pursue that career or not. Every perspective Business Analyst wants to check whether the Business Analysis career path is financially lucrative and every existing Business Analyst wants to know whether he is being paid enough salary when compared to his peers!

Additionally, the skills, knowledge and experience of a business analyst plays an important part in carving out the role for which he fits perfectly (there are 7 different roles of a Business Analysts) and the salary he commands.

Generally as far as the responsibilities are concerned, a Business Analyst should be able to understand the big picture surrounding the solution to be developed, document the vague ideas into concrete requirements and act as a single point of contact for any clarifications regarding the project’s deliverables. Additionally, he prepares technical documentations and specifications, creates prototypes, interact and liaise with stakeholders, oversee development, conduct usability and functional testing and manage the project as a whole.

So, first of all let’s lay down some facts when it comes on to discussing the salary of Business Analysts around the globe:


Fact#1: There is no ‘One Business Analyst that Fits All’

The role of a business analyst could take many forms and is dependent upon the organization’s structure and its requirements. In fact, what is a ‘Business Analyst’ in one Company could be a ‘Systems Analyst’ in another. If you want to know what all roles comes under the Business Analysis umbrella, go to our detailed article on ‘Business Analyst Roles’.

The same goes with the Business Analyst salary and you will find a little highs and lows when comparing between the different Business Analysis roles. But be rest assured, those lows can always be bridged by better on the job performance and negotiating your salary based on your performance.


Fact#2: The Business Analyst’s career path IS financially rewarding

According to the Census Bureau report on income and poverty in the U.S. the median household income in America across all jobs was $52,000 per annum. Comparing this with the median salary of a Business Analyst in the US, it comes around $70,000 per annum. Now, that’s $18,000 per annum more or putting it differently, a significant 35% increase and mind you, the numbers gets only better with experience.

The picture is more or less same with every major global geographical entity. For instance, the average salary in UK is about £26,500 per year whereas the UK’s Business Analyst earn close to £39,000 per year. That’s £12,500 higher than the average or a whopping 47% more than the average pay per year.


Fact#3: Higher the Experience, higher is the Salary


Based on the number of years (as well as) the quality of experience gained by the Business Analyst, the salary commanded by him shows a gradual increase. This is due to the fact that more experience and exposure trains an analyst for large, complex and challenging projects. Successful completion of such intricate projects means more profits for the company, thereby increasing the value of the Business Analyst in the Organization.

For instance, a Fresher BA who is just starting his analysis career may get an annual salary of $43,000 in the USA whereas an experienced analyst with an experience of 3-4 years may command a salary of $62,000 per annum. An expert level analyst having an experience of 8-9 years under his belt may command an average of $85,000 per annum. So, you see, higher experience lets you demand and earn a better salary.


Fact#4: Your geographical location plays a major role in deciding and defining your salary

You may see a huge difference in the salaries being paid to the Business Analysts in different parts of the globe and that is defined by the economy of the country, the cost of living and other socio economic factors. Thus, if you are deciding about taking analysis as your career path forward, it’s wise to zero down the location you wish to settle in and then start studying the salaries around that location.

Below are the Business Analyst salaries segregated by low, median and high for India, USA and UK. Please note that these salaries are indicative and may vary based on the industry, skills and quality of experience.

Experience India USA UK
Low  (Between 1-3 Years) INR300k – 400k $43k – 58k £28k – 37K
Median (Between 4-7 Years) INR540k – 800k $62K – 83k £38k – 56K
High (8 Years and above) INR900k – 1.3M $85k – 1.1M £55k – 78K

The above table will be able to give a generalized idea about the remuneration received by an analyst but if you wanted to know what the top recruiters (in 3 separate geographical locations) offers to their analysts, you may want to look into the tables below.

 

Major Organizations in India and their salaries to Business Analysts
Company Minimum Salary Average Salary Maximum Salary
Tata Consultancy Services INR2,40,000 INR7,50,000 INR21,00,000
Mu Sigma INR2,00,000 INR4,40,000 INR12,70,000
HCL Technologies INR1,70,000 INR8,10,000 INR13,30,000
Infosys INR1,80,000 INR8,50,000 INR17,00,000
Tech Mahindra INR1,60,000 INR6,80,000 INR14,20,000
Computer Sciences Corp INR3,40,000 INR7,30,000 INR13,50,000
Wipro INR2,30,000 INR9,20,000 INR15,70,000
Major Organizations in USA and their salaries to Business Analysts
Company Minimum Salary Average Salary Maximum Salary
Deloitte $55,000 $73,000 $88,000
Accenture $41,000 $70,000 $95,000
Cognizant Technology Solutions $39,000 $61,000 $79,000
J.P. Morgan $37,000 $74,000 $155,000
IBM $36,000 $75,000 $140,000
Oracle $46,000 $73,000 $124,000
Cisco System $53,000 $98,000 $143,000
Major Organizations in UK and their salaries to Business Analysts

Company Minimum Salary Average Salary Maximum Salary
Barclays £26,300 £50,500 £96,000
UBS £36,100 £59,300 £112,000
Thomson Reuters £31,000 £43,500 £61,000
Deutsche Bank £38,600 £45,100 £62,200
Accenture £30,100 £36,000 £49,900
Citi Bank £29,800 £50,800 £66,000
Royal Bank of Scotland £31,900 £53,000 £83,000

*The salaries are indicative and may vary based on the skills, quality of experience and other factors

Well, we have only discussed about the financial benefits of being a business analyst but the list doesn’t stop here. There are multitude of other benefits of being an analyst and if you are giving a serious thought of becoming one, do check our dedicated articles on benefits of BA career path and the skills required to become a Business Analyst.

 

  • Aisha

    The salaries mentioned above for india are per annum or per month?

  • All the salaries above are per-annum, Aisha.