Business Analysts can add real value to an organisation, helping companies navigate digital transformation and automation. Knowledge of predictive analytics and business intelligence are essential to climb the salary ladder. And in an environment of rapid technological change, staying up to date with the latest technologies and understanding how they can give an organisation a competitive edge can be the key that see a Business Analyst realise their full salary potential.
Percentiles of a Business Analyst Salary
In the Robert Half Salary Guide, salaries are broken down by percentiles. This allows you to see how different skills, experience and qualifications – along with different roles, can shape a Business Analyst salary.
To earn a Business Analyst salary in this percentile, candidates will typically be degree qualified with a Bachelor of Finance, Economics or Business. Basic duties are likely to include examining business needs in terms of present and future requirements, and creating requirements documents under the supervision of the finance department head or Senior Business Analyst. Work opportunities generally lie with larger organisations, where the role will be undertaken as part of a larger team.
To fit in this Business Analyst salary percentile, candidates may be expected to hold additional qualifications such as Chartered Accountant (CA) or Certified Practising Accountant (CPA). Essential skills include the ability to model the relationship between different business goals and project objectives, with a clear understanding of new business opportunities, new product development, cost increases and revenue management. Excellent communication skills are required to help manage expectations and communicate with stakeholders within and outside of various projects. Strong capabilities in ERP systems and Excel software will further support candidates looking for a salary in this range.
To command this business analyst salary percentile, candidates typically need at least five years of experience in an analyst role. A strong understanding of the company’s industry and market is essential, and should be combined with business acumen to deliver insights that allow the organisation achieve strategic goals. The ability to communicate complex ideas is essential to give management and the executive team the insights needed for decision making. This salary percentile may also apply in industries where there is strong competition for suitably skilled talent.
At the highest level of salary percentile, business analysts will have a strong understanding of the company and technology – and be able to act as the conduit between the two. The role is likely to be highly strategic and may involve facilitating workshops, managing stakeholders and ensuring delivery of projects on time and on budget. The level of complexity of the role requires staying up to date with the latest technologies and understanding how the organisation can harness the power of digital transformation to gain a market lead.