Top Skills for Business Analysts

Different skills affect a business analyst’s salary differently. Here are the most trending skills in the market that can take your profile to a higher position:

1. Functional/ Application Design

It refers to the general layout of an entire system, along with its information organization, inputs and outputs, and applicable business rules. A business analyst who knows how to study the existing computer systems, and suggests appropriate updates to the current business technologies can get a salary raise by about 102%.

2. Enterprise Resource Planning

Knowledge of business analytics when combined with knowing how to configure software as per the company needs can increase an individual’s salary by about 50%. There is a high demand for business analysts who are adept in developing and managing ERP programs.

3. Data Modeling

Data modeling implies understanding and analyzing how a company should store, update and manage its data. It is a critical and one of the most in-demand skills and it can increase a business analyst’s average salary by 60%.

4. Project Coordination

Business analysts who are expert in project coordination coordinate teams, analyze project information and help identify the most suitable work packages for the organization. It is a lucrative career skill for analytics professionals and can have a 42% increase on the salary.

5. Machine Learning

AI has revolutionized the domain of business analytics. Exploring data with the help of machine learning allows business analysts to not only find improvement areas but also new organizational aspects with wider scope. No doubt it can help raise the salary by 51%.

6. Business Aptitude

A deep knowledge of business principles associated with accounting, finance, management and employee handling helps a business analyst to figure operational problems and best ways to solve them.

Factors Impacting Business Analyst Salary in India

The salary of a business analyst is calculated by considering major factors like:

1. Education

People who complete degrees in business or analytics related subjects have an edge over others. MBA, and postgraduate diploma in business analytics are some of the most sought after courses for people looking to become a business analyst. Certification courses related to business analysis also show that the candidate possesses a specialized knowledge of the field. For a fresher level candidate, bachelor’s degree in business, computer science or information technology are usually the qualification requirements for a business analyst.

2. Experience

Experienced business analysts are offered better packages because of their command over the concepts and a deep practical knowledge. They also have an idea of how to implement business analytics practices in a company, which is another reason they are paid well.

3. Company

When it comes to business analysis, a large scale company may not always mean a better package. Many startups offer competitive packages to business analysts. The industry to which a firm belongs, be it MNC or SME plays a bigger role in defining how much a professional gets paid. Finance, IT and healthcare companies mostly offer high remunerations to business analysts.

4. Location

The location of the company and the cost of living in that city is one of the most important factors that determine the salary of a business analyst. Business analysts in Pune and Bangalore earn 20% – 25% more than the national average. The salary witnesses a noticeable dip of 2% and 1% in cities like Mumbai and Delhi respectively.

5. Job Profile

Business analytics is a multifaceted domain. Though business analysts primarily assist in analysis and problem-solving, their areas of focus can differ significantly with each role. There are several types of specialist roles these professionals hold, whose salary can differ significantly.

6. Skills

Being updated with the latest industrial trends like SAS BI, predictive analysis and Data-as-a-Service (DAAS) helps in every profession. Business analysts who expand their skill set as per the market needs are paid higher than those with outdated skills. Having only a basic knowledge of the field can also lead to a lower pay.

Business Analyst Salary in Other Countries