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The demand for making data-driven and scientific decisions is required for every organization, despite the size. Having said that, opting for a career in business analytics will help you mark your presence in this business scenario. The ever-evolving trends will expose business analysts to various challenges, increasing demand for intelligent solutions.
Simply put, business analytics is the need of the hour, introducing various bright career opportunities. The term ‘business analyst‘ refers to a relatively broad profession, from general analysts in the early stages of their careers to specialized consultants with decades of expertise and experience. Learn more about various types of business analysts.
Read on to learn more about various aspects of business analytics salary in India.
Business analysts act as a link between businesses and organizations and data analysts. Over time, business analysis has evolved in the corporate and IT industries, assisting productivity and long-term profitability. Business analytics salary in India is one of the highest, combined with the right amount of growth in the career path.
READ MORE: Business Analytics: Top 6 career options in 2022
The average salary of a business analyst in India is based on their role in the company. They can pursue a career in various industries. Here we have listed the prominent roles in the domain with the average remuneration.
Business analysts in India make between INR 400,000 and INR 15,00,000 rupees a year in compensation. Their annual salary, on average, is 700,000. You can check the salaries for a few eminent companies below.
Here’s an overview of the salary of a business analyst in popular companies.
Source: College Dunia
The salary for business analyst jobs for freshers and experienced workers will vary based on their expertise. Simply put, as you gain experience, your pay will increase.
Here’s an overview of the salaries of business analysts based on experience.
The location has a huge impact on the salary packages as well. Business analysts, for instance, make around 17.7% and 12.9% more in Pune and Bangalore than the national average. The lowest level salaries are seen in Noida (8.2% less), Chennai (5.2% less), and Hyderabad (4.2% less). Here’s an overview.
The demand for business analysts has increased in the US in recent years and is continuing to magnify. Like any other chosen profession, a business analyst’s pay in the USA would be influenced by different variables, including the company’s size, standing, location, work history, and educational background.
Salaries for various business analytics roles differ in minor values. The pay for various business analytics roles is mentioned below.
Some of the top corporations in the US that pay business analysts greater salaries are listed below.
The salary at the entry-level with less than a year of work experience is at the lower end, and the salary for individuals with 1-4 years of work experience is at the upper end. Your pay rises in tandem with your expertise level.
When it comes to compensation, the location you are in the United states is also quite important. Below are the salaries in a few US states.
Many aspiring individuals are looking to join or seeking to switch to the profession of business analytics. A business analyst is a promising role, providing you with an excellent opportunity for life-long learning and productive career growth. Here are some reasons why pursuing a career in business analytics is an excellent option.
Business analysts are responsible for building the growth strategies of an organization by gaining insights. In short, you will be able to make a difference in the organization, contributing to its future growth.
According to Glassdoor, the average salary for a business analyst is INR 8 lakh in India, which can grow when you combine the right education and required skills.
Unlike the typical 9-5 job, the business analyst poses a challenging and thriving environment that will make you learn and grow. The profession’s role tends to evolve depending on the current marketing trends, giving you new tasks and challenges.
If you look at the statistics, you can understand the demand for business analytics is steadily increasing. It means you will always be required in every industry as a sought-after professional.
As a business analyst, you will be allowed to work across various verticals. It includes finance, information technology, communication, retail, automobile, manufacturing, etc.
Business analysts play an important role in maximizing the effectiveness and productivity of a business by making data-driven decisions. Besides the crucial role, you may need to implement certain tips to acquire a lucrative salary in the field of Business analytics.
Reviving your familiarity with analytical skills, which employers expect from you. You need to prove to yourself that you have adequate and up-to-date knowledge in the field. Acquiring a certification course will equip you with the latest tools and techniques of business analysis.
If you find a career in business analytics sounds interesting, you need to explore your skill set. Hence you need to start your professional career through internships or entry-level positions in accounting, finance or any relevant domain. This will help you to move to higher-paying positions. For instance, seek out junior or entry-level business analytics roles to gain work experience and understand what opportunities are out there.
Even though many employers seek a bachelor’s degree on your resume, some might prefer candidates with a master’s degree. A bachelor’s degree only prepares you for junior-level professionals in business analytics. However, considering a postgraduate degree in a relevant subject will advance your skills and knowledge, helping you to gain a competitive edge in terms of roles and salary.
If you want to get into a high-paying business analytics role, you should have certain skill sets. Some of them are,
You should have a strong knowledge of finance, accounting and business principles.
Possessing Excellent interactive skills will help you to communicate with different key persons within the organization and express ideas distinctively – both in writing and verbally.
Having extensive experience despite the role will help you gain a competitive edge while applying for higher positions.
ALSO READ: How to start a career in Business Analytics?
In this digital era, every aspect of corporate business is driven by data. Business analytics focuses on studying a significant amount of data and eventually building conclusions on business performance. Besides the business analytics salary, most organizations are investing in skilled professionals to enhance their overall growth.
However, there is a shortage of such professionals despite the abundance of career opportunities. Hence, this is the right time to start your career in business analytics at Online Manipal. Masters in Business analytics is designed by Manipal Academy of Higher Education to help aspiring professionals create an impact in the highly competitive world. The interdisciplinary course will enable the learners to excel in their roles, making better decisions for better career growth. Enroll now.
Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.
Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.
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