Top 7 Business Analyst Career Paths in 2022 – Business Analytics has emerged as one of the most promising millennial career paths. The demand for business analyst and data analyst professionals has more than doubled over the last 5 years. Today, most companies that rely on technology expect their managers to know at least the Business Ananlytics basics to make efficient plans and take better decisions.
Today there are thousands of options for those who have chosen a business Analyst career path. So, it is very important to have a clear idea of what business analysts do, why to work as a business analyst, what is the career path for a business analyst, and which is the best Business Analytics free course, etc.
This article strives to answer all these questions and more. A step-by-step guide to a business analyst career path with further insights about the business analysis domain is given below.
What Do Business Analysts Do?
Usual business strategies may no longer take businesses to their targets, especially under unfavorable economic conditions. In today’s complex business scenarios, an organization’s adaptability and capacity to accommodate steady change through innovative measures are keys to its progress. A business analyst is a person in charge of updating the organization in this scenario.
Business analysts (BAs) should solve pivotal issues among IT and the business using tools ranging from data analytics to survey forms and decide prerequisites. Based on these analyses, they convey information-driven suggestions and reports to stakeholders.
Business Analyst Career Path
Typically a business expert with the requisite educational degree starts his or her profession in a base-level business position, usually as a days analyst. With enough work experience and sufficient comprehension and inner knowledge of how organizations work, business analysis experts will become experts at analyzing, examining, and improving the organization’s business. This drives up their value in the job market.
A business analysis expert with experience and great execution skills can easily step up as a junior business analyst position. Some others earn a relevant postgraduate degree at this point to entice larger organizations or consultancies to hire them.
Top Business Analyst Career Paths
- Data Analyst: Data analysts are professionals in charge of the analysis of important data that potentially provide insights for successful business decisions. They are well-versed in the Business Analytics basics, and this makes them valuable.
- Average Data Analyst Salary in the US is $65, 795
- Average Data Analyst Salary in India is ₹6,00,000
- Business Analyst Manager: Business analyst managers are professionals who lead and coordinate a team of business analysts. They must ensure the efficient and effective functioning of the team to support the organization’s business goals.
- Average Business Analyst Manager Salary in the US is $111,831
- Average Business Analyst Manager Salary in India is ₹17,04,452
- Test Analyst: Test analysts design, implement, and execute tests that ensure the quality of software products.
- Average Test Analyst Salary in the US is $112,573
- Average Test Analyst Salary in India is ₹6,50,000
- Project Manager: Project managers are responsible for successfully planning, executing, and completing the project. Working with a team of experts, they ensure that all aspects of the project are coordinated properly and completed timely within the budget.
- Average Project Manager Salary in the US is $78,340
- Average Project Manager Salary in India is ₹14,60,000
- Business Consultant: Business consultants enable organizations to improve performances by offering advice on ways to improve business operations, boost profitability, and increase efficiency. Business consultants are usually self-employed working with a variety of clients simultaneously.
- Average Business Consultant Salary in the US is $75,465
- Average Business Consultant Salary in India is ₹12,00,000
- Quantitative Analyst: Quantitative analysts are professionals who use mathematical and statistical techniques for data analysis and solving problems.
- Average Quantitative Analyst Salary in the US is $149,642
- Average Quantitative Analyst Salary in India is ₹13,00,000
- Portfolio Manager: Portfolio managers oversee the investments of portfolios and ensure that they perform well. Moreover, they rebalance the portfolios as needed to keep them on track.
- Average Portfolio Manager Salary in the US is $78,016
- Average Portfolio Manager Salary in India is ₹11,00,000
How to Become a Business Analyst?
There are several ways to become a business analyst, depending on your individual skills and experience. You can do this by studying business or analytics in college, working in fields like management consulting or market research, pursuing a master’s degree in business analytics or business administration, etc. Additionally, you can become a business analyst through specific certification courses provided by organizations such as the International Institute of Business Analysis or the Institute of Business Analysis. Alternatively, you can enroll in a business analytics free course or install a free course app to learn the business analytics basics.