Business analysts play a vital role in helping their employer's business function efficiently. While business analyst jobs can vary widely, your main role will be analyzing a general or specific business function, internal documentation, processes, systems, and business models to help your employer run as efficiently as possible, and help them improve their bottom line and achieve strategic objectives.
all about business analysts
Depending the specific job, the industry, and the company you work for, you could focus on strategic planning, process design, systems analysis, business model analysis, technology efficiency or other more specific business functions. Common titles associated with business analyst jobs include business process analyst, data analyst, systems analyst, and IT business analyst.
what business analyst jobs entail
Business analysts typically require you to work in an office setting from 9 to 5, Monday through Friday, though overtime may be required to meet deadlines. A variety of businesses and industries use the skills of a business analyst, meaning you can work for almost any company in any industry. This position generally reports to senior-level management.
average business analyst salaries
Since business analyst jobs, responsibilities, and titles can vary, business analyst salaries also vary. Entry-level business analyst jobs will likely come with a starting salary between $45,000 and $55,000, while senior business analysts can command a salary of $100,000+.
The average business analyst salary is around $65,000. As with most jobs, the size of the company, your role and the city where you work will factor into salary expectations.
your day to day tasks
Business analyst roles are varied. As a business analyst, you analyze your employer's business or IT systems and data, and recommend changes to increase the overall efficiency and effectiveness of a department or an entire company. Some typical tasks in business analyst jobs include:
- identifying the need for change
- assessing the impact of changes
- documenting changing requirements and ensuring the updates occur
- creating tangible benefits to the organization
- prioritizing business requirements
- implementing business solutions
where you can work
Business analysts are found at companies of all sizes in many industries. However, many business analyst jobs are found in finance, banking, government agencies, insurance, and technology – an area that is on the rise as technology advances and becomes an increasingly entrenched part of the business world. Large cities such as Toronto, Kitchener/Waterloo, Vancouver
and Montreal offer business analyst jobs due to their large technology presence.
what you bring to the table
Business analyst positions require a high degree of business savvy. Business analysts are problem solvers, excellent communicators, and tactful diplomats who can quickly understand and respond to the needs of people within the company. Skills you'll need include:
- written and verbal communication
- technical writing skills
- strong leadership
- ability to work independently
- understanding of business systems
- ability to conduct cost/benefit analysis
- business case development
- modeling techniques and methods
training and certifications
Most employers require an undergraduate degree in business, IT, or a related field. Some will also look for a master's degree.
Individual requirements vary by job and company. Some candidates are hired straight out of university, while more experience will land you in a higher-level position with increased responsibility.
You can make yourself a more attractive candidate by becoming a Certified Business Analysis Professional (CBAP). This certification can increase your salary by about 16 percent, making it worth the time and investment.
where your career is headed
With 5 years of experience in a business analyst role, you can move into senior business analyst roles or related roles with more responsibility such as product manager. With eight to ten years of experience, your career path can include positions, such as Chief Technology Officer (CTO) or Chief Information Officer (CIO). You could also take on work as a consultant and branch out to start your own firm.