HOW TO BECOME A BUSINESS ANALYST (2023 Guide)
How Much Does a Business Analyst Make?
BrainStation’s Business Analyst career guide can help you take the first steps toward a lucrative career in analysis. Find out how much a Business Analyst can make.
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The average salary for a Business Analyst is just over $82,000 per year in the United States, according to the job site indeed. That said, Business Analyst salaries will vary quite a bit, depending on your professional experience, location, and the skills you bring to the role.
In Los Angeles, for example, average Business Analyst salary runs in the mid to high five figures and up ($77,000 per Glassdoor, $90,000 per Indeed). In New York City, meanwhile, average salaries run slightly higher ($81,000 per Glassdoor, $94,000 per Indeed). That’s before cash bonuses are figured in, which can potentially add another few thousand to those figures. For Senior Business Analysts, the pull is even higher – add another 15 to 20 percent to the figures for a Business Analyst.
In Canada, at least in terms of averages, most sources cite annual salaries of roughly $70,000 to $80,000 a year ($65,000 per Glassdoor, $68,000 per Indeed, and $79,000 per Neuvoo). It’s worth noting, though, that the bell curve skews low, so while you won’t find many jobs that pay significantly below average, there are plenty of jobs that pay well above it. In fact, for a Senior Business Analyst, the average salary sits at around the mid-80s ($82,000 per Glassdoor, $87,000 per Indeed, and $85,000 per Neuvoo).
Entry Level Business Analyst Salary
The average entry-level Business Analyst salary in the United States is just over $62,000 annually. There is a high degree of variance in Business Analyst salaries for an entry-level position, with the salary range beginning around $40,000 all the way up to $70,000 in average yearly salary depending on the company, industry, and educational background required by the position.
Typically, an entry-level Business Analyst will have between 0-to-two years of experience, and will likely possess at least an associate’s degree if not a bachelor’s degree.
Intermediate Business Analyst Salary
After accumulating two to four years of experience in their business analysis career, intermediate Business Analysts earn $67,000 in average base salary, with more money in perks and bonuses. Average salaries for intermediate Business Analyst positions also depend on a range of factors including certifications, additional skills, and domain knowledge.
Senior Business Analyst Salary
The average salary for a Senior Business Analyst is roughly $95,000, but the salary ranges from $88,000 up to $110,000. At this level, you would be expected to work closely with executive-level decision-makers to define operational goals, take on project management tasks, and leverage your data and statistical analysis skills to make high-level business recommendations directly to key stakeholders.
Highest Paying Business Analyst Jobs
There are many job roles closely related to a Business Analyst. Some of the highest paying jobs relating to business analysis include:
- Business Systems Analyst ($93,000 average salary). To take care of responsibilities relating to companies’ growth, security monitoring, and guarding the integrity of data storage systems, an expert Business Systems Analyst can bring home anywhere from $120,000 to $140,000 annually.
- Business Intelligence Analyst ($87,000 average salary). Generally considered a more senior role, a Business Intelligence Analyst can make well over six figures at major companies or in cities like New York City and San Francisco. A Business Intelligence Analyst might start as a Data Analyst or Business Analyst before being promoted. Other roles further along a Business Intelligence Analyst career path — including Business Intelligence Architect or Business Intelligence Manager — bring in average salaries over $100,000.
- Business Process Consultant ($110,000 average salary). The salary range for professionals who specialize in business processes begins around $81,000 annually at the lowest salary level, ranging up to nearly $150,000.
- Business Development Director ($195,000 average salary). For this executive-level business analysis job, there is a higher-than-usual degree of variance in salaries. But a Director of Business Development will typically make somewhere between $170,000 and $220,000, depending on their location and company.
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