Business Analysts play an important role in the IT and Enterprise industry. They are responsible for collecting and evaluating data to understand business requirements and identify opportunities for business improvement. They work closely with stakeholders, handle complex situations, and create solutions to enhance corporate operations. The salary of a business analyst can vary in India depending on varied factors like qualifications, experience, skills, recruiter, and so on. Overall, a business analyst in India can earn an approximate salary between Rs 3 lakhs to Rs 17 lakhs per annum with an average annual income of Rs 9.8 lakh. In this post, let us take a look at one primary question that every aspiring business analyst asks - ‘What is the salary of a business analyst?’. Also, let's understand the role of business analysts and their salary based on different factors.
Who is a Business Analyst? What Role Does a Business Analyst Perform?
A business analyst is a business intelligence (BI) professional who operates as a link between the stakeholders and the IT departments of a company to enhance its service quality and profit using their expertise. These professionals work towards making the operations of the corporate world smooth. They perform roles that cover tasks like enhancing the productivity of organizations, introducing creative technologies and solutions in a business, and more. Business Analyst is a wide term and it includes entry-level analysts and experienced consultants, among others.
Roles Performed by Business Analysts:
- Business analysts interact and understand the problems of users and business partners including data-driven processes, and software technologies to boost the efficiency of a business and add value to the organization.
- They collaborate with teams like IT and finance to create better business models for better business decisions.
- They identify the business goals of organizations, and the issues faced by them to create solutions.
- Business Analysts regularly meet with stakeholders and clients to discuss business concerns to get solutions.
- They analyze how and what financial and technological solutions would be viable for the growth of the company they work with.
Business Analyst's Salary in India
As discussed, a business analyst earns between Rs 3 to Rs 17 lakhs per annum in India (as per AmbitionBox) with an average annual income of Rs 9.8 lakhs. Several factors determine the salary of business analysts in India. Let us take a look at the salaries of Business Analysts in terms of these determinants:
1. Based on Employer/Company
The salaries of business analysts change as per recruiters or companies. For example, companies like Accenture pay around Rs. 7.4 lakhs of average salary to business analysts, while Capgemini and TCS offer over Rs. 7.3 and Rs 6.9 lakhs on average respectively. Other recruiters like HCL, CSC, and Wipro pay an average salary between Rs. 5 - 6 lakhs.
2. Based on Experience
In terms of experience also the Business Analysts' salary changes. For instance, professionals with 1-2 years of experience can earn an average salary of Rs 6.3 lakhs, whereas it is Rs 8.5 lakhs for senior business analysts with 4 – 5 years of experience. Similarly, 11.3 lakhs and 12.3 lakhs respectively can be earned by professionals with 7-8 to 8-9 years of experience.
3. Based on Department
Business analysts can earn between Rs 3 – Rs 17 lakhs based on departments. For instance, a business analyst in the data science and analytics department can earn an average salary of Rs. 9.8 lakh, while they can earn Rs 10.4 lakhs average salary in the engineering and software department.
4. Based on the Location of the Company
Business data analysts' salary packages also differ depending on the company location or the city you work in. For instance, cities like Pune and Bangalore pay more salaries compared to the national average.
5. Based on Industry
As per the industry, business analysts working in financial services earn around Rs 8 lakhs of average salary per annum. Similarly, the manufacturing, consulting, and IT services industry pay an average salary of over 7 lakhs per annum.
In addition to the above, the salary of Business Analysts also varies based on skills and educational qualifications, among others.
Top Companies Recruiting Business Analysts in India
IT companies, e-commerce and technology giants, media and advertising companies, banks, and financial companies are among many recruiting organizations for business analysts. Some popular recruiters include:
- Tata Consultancy Services (TCS)
- Accenture
- Computer Sciences Corporation (CSC)
- Capgemini
- Genpact
- Wipro
- Cognizant
- Deloitte
- Evalueserve
- Infosys
- IBM
- Tech Mahindra
All these and many other top companies recruit business analysts and pay them high salary packages.
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Online Certifications to Enhance the Salary of Business Analysts
Online certifications and credentials add value to your qualifications and professional opportunities. They make you ready to pursue responsibilities as business analysts in top global companies at high-paying salaries. These certifications are available online as well as through regular programs and they help candidates stand out in front of recruiters.
Some common certifications include:
- Certified Analytics Professional (CAP)
- Entry Certificate in Business Analysis (ECBA)
- Certification of Competency in Business Analysis (CCBA)
- Certified Business Analysis Professional (CBAP)
- Agile Analysis Certification (AAC)
- Certification in Business Data Analytics (CBDA)
- Certified Foundation Level Business Analyst (CFLBA)
- Certified Advanced Level Business Analyst (CALBA)
- Certified Professional for Requirements Engineering (CPRE)
- Professional in Business Analysis (PBA)
Conclusion
The career of a Business Analyst is lucrative as it pays well, especially if you work in the top hierarchy in reputed companies. It offers candidates better roles in MNCs and helps them get jobs abroad. However, pursuing the right education is very important to become successful in this role. Certifications and master's programs like an MBA in business analytics can help students get the desired jobs and salaries.
If you are looking for certifications or other effective programs in business analytics, Amity University Online offers some of the most commendable programs. Visit the Amity Online portal to know more.
