Home>Business Analytics>Business Analyst Salary in India 2022 [For Freshers & Experienced]
Over the years, Business Analysis has emerged as a core business practice in the enterprise and IT sectors. It pertains to understanding the changing business needs, evaluating the impact of such changes, identifying and analyzing the requirements and documenting the same, and facilitating communication among all the stakeholders involved. This is essentially what Business Analysts do.
Business Analysts act as a bridge between an organization’s IT and Business domains and contribute actively to its profitability and sustainability. Since traditional methods no longer suffice for catering to the dynamic needs of the complex business environment, Business Analysis comes to the rescue. With their expertise, agility, and drive for innovation, Business Analysts guide enterprises in improving their processes and quality of products/services while ensuring the timely dispatch of client deliverables.
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Table of Contents
What does it take to be a Business Analyst?
The fundamental job responsibility of a Business Analyst is to elicit, analyze, and validate the change requirements for business processes, information systems, and policies and to communicate them with all stakeholders.
They interact with both the business partners and users to understand how data-driven changes to business processes, products/services, and software/hardware can enhance efficiencies and add value to the organization.
They work in close collaboration with the IT and Financial reporting teams to design and implement new business models to support the proposed business decisions and to establish initiatives/policies to improve productivity and to optimize costs.
They analyze what’s financially and technologically feasible for the company.
Read: What is business analytics – Its Career scope, Salary & Job Roles.
According to Robert Half Technology, the job description of a Business Analyst includes:
Creating detailed business analysis and drafting problems, opportunities, and solutions for a company.
Defining business requirements and reporting them back to stakeholders.
Budgeting and forecasting.
Planning and monitoring.
Variance analysis.
Pricing.
Reporting.
Although a Business Analyst need not have an IT background, he/she must have a basic understanding of how IT systems function. What they need is a strong and in-depth understanding of the business domain. Prior experience in forecasting, budgeting, and financial analysis are highly commendable. Apart from this, it is beneficial to be well-versed with the regulatory and reporting requirements.
While for entry-level Business Analyst job roles, a bachelor’s degree in Business Administration/Management/Information Technology is enough, mid-level and senior-level positions often demand a master’s degree in business analytics or any other related fields.
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The salary of a Business Analyst in India depends upon several factors like company size and reputation, job position, location, education qualifications, and experience. Usually, reputed companies like TCS, Amazon, Accenture, Deloitte, etc., pay higher salaries. Then again candidates hailing from reputed institutes/b-schools earn more than their counterparts. This holds true for work experience as well – the more your experience, the higher will be your market value.
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Salary scale – Popular companies in India
Tata Consultancy Services (TCS), Accenture, Computer Sciences Corporation (CSC), and Capgemini offer the are some of the top companies with the highest salary packages for Business Analysts. While the average annual salary at Accenture is Rs. 7,04,965, Capgemini and TCS offer around Rs. 7,03,178 and Rs. 696,132 respectively. HCL, Wipro, and CSC fall on the lower end of the salary scale with the average annual salary standing around Rs. 5,21,246, Rs. 5,79,188, and Rs. 6,02,435, respectively.
Salary packages of reputed e-commerce platforms like Amazon are also great. In India, the average annual salary of a Business Analyst at Amazon ranges anywhere between Rs. 3,28,484 – 17,83,171, with senior-level roles earning the higher end of the salary scale.
Also read: Business analyst career path and professional roles.
Generally, the salary packages for entry-level roles remain anywhere between Rs. 3,50,000 – 5,00,000. For instance, the average annual Business Analyst salary (including tips, bonus, and overtime pay) at the entry-level in IT with less than 1-year experience is around Rs 3,59,807. However, the Business Analyst salary for those having 1-4 years of experience can earn an annual compensation of Rs 5,27,712.
The salary level increases as experience increases. While a Business Analyst having 5-9 years of industry experience can earn around Rs. 8,30,975, a Senior Business Analyst, with over 15 years of experience, can easily make Rs 12,09,787. Going further, the salary increases up to Rs. 16,54,946.
Salary scale – Location
Salary packages also differ considerably according to location as well. For instance, Business Analysts in Pune and Bangalore earn around 17.7% and 12.9% more than the national average. Noida (8.2% less), Chennai (5.2% less), and Hyderabad (4.2% less) record the lowest level salaries.
To conclude, Business Analysts have a decent pay scale in India. Companies across both IT and e-commerce sectors pay excellent compensation to deserving candidates who can add value to their organization. Apart from the regular educational qualifications and work experience, having advanced Business Analysis certifications also helps in bagging jobs that offer high-level salaries.
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Can Business Analysts freelance their services?
Business Analysts are responsible for screening and changing the organisation’s structural and functional issues for the better. The role of a Business Analyst is varied, involving many skill sets and learning. Companies need Business Analysts and may hire them on a short-term basis for consultation. The skills, knowledge, and experience as a Business Analyst are irreplaceable compared to simple freelancing services like content creation, virtual assistance, data entry, etc. Business Analysts can source a good amount of income through freelancing. Still, it also demands strong business skills from the Business Analyst to manage and succeed in multiple projects at a time.
Can a Business Analyst become a Data Scientist?
Analysing data is a part of the job for Business Analysts. They assess data to trace patterns in the operations and identify challenges the organisation faces. Data Scientists have data at the core of their job role. Data Scientists fragment data to peer into the organisation’s framework to identify possible issues through statistical operations and software programs. A Business Analyst works on the logistics of the organisational framework and uses data to improve the framework. Business Analysts can shift towards a career in data science with an edge in understanding business internally. A lot of effort towards learning software programs, terminologies in technology, and statistics is central to starting as a Data Scientist.
What do Business Analysts need to know about Information Technology (IT)?
Business Analysts work within the IT field. IT programmers delve deeply into big data, programming and focus on projects that require such knowledge. Business Analysts bridge the gap between software programmers and organisational growth. They screen the deficits and chart out the challenges and possible solutions. Hence, business analysts are a part of the IT sector with a more non-technology-oriented role. Although they are not as technologically sound as IT professionals, knowing data analysis is a prerequisite for Business Analysts. Hence, even though Business Analysts don’t need to know about Information Technology deeply, understanding the operations and terminologies involved can help them focus on pressing problems within the organisation.
Business Analyst salary in India with less than 1 year of experience to 9 years ranges from ₹ 3 Lakhs to ₹ 15 Lakhs with an average annual salary of ₹ 7 Lakhs based on 71.3k salaries.
The simple answer is yes – being a business analyst is a good career choice and provides an opportunity for life-long learning and addressing challenges to provide solutions to business problems. You have the opportunity to work in different sectors and industries to apply your skills.
The salary of business analysts in India ranges from ₹300,000 p.a. to ₹1,290,000 p.a. The average salary of a business analyst in India is ₹625,000 p.a.
What is the highest salary offered as Business Analyst? Highest reported salary offered as Business Analyst is ₹59lakhs. The top 10% of employees earn more than ₹23lakhs per year. The top 1% earn more than a whopping ₹40lakhs per year.
These top companies hiring business analysts have significant benefits, sizeable pay, and excellent company cultures. ... Top 10 Highest-Paying Business Analysts Companies.
IT business analysts are knowledgeable in both business and information technology. Liaising between IT and the executive branch, enhancing the quality of IT services, and understanding business needs are among their major roles.
Entry-level business analysts, or junior business analysts, support the collection and analysis of data for a business or organization, providing better solutions, technology integration, or systems improvements.
In short, becoming a business analyst is harder than getting most operational jobs, but easier than getting most technical jobs. For example, it's harder than becoming a designer but easier than becoming a developer. In fact, business analysis is often defined as the “translator” between business and technology.
If you have a good background in IT, your career stream can take you to project manager, senior project manager, programme manager, and senior programme manager. If your business management talents are as strong as your technology expertise, you can rise to senior business analyst and business consultant.
They can work full-time, part-time, freelance, or as independent contractors across a variety of career fields. And, because much of the business analyst role includes data analysis and visualization (think: crunching numbers and creating graphs and pie charts), in many cases, their work can be done remotely.
“ Business analysts indeed a good job based on job satisfaction, career growth, work-life balance, job security, learning opportunity, and a good salary.
Business analysts are below average when it comes to happiness. At CareerExplorer, we conduct an ongoing survey with millions of people and ask them how satisfied they are with their careers. As it turns out, business analysts rate their career happiness 3.0 out of 5 stars which puts them in the bottom 32% of careers.
Machine learning engineer. This specific branch of artificial intelligence is ideal for those who have a passion for computer science and desire a career in a fast-moving and exciting industry. ...
If we talk about the average salary after taking all the factors then after including all the expenses like transportation and groceries, a good salary can be around INR 30,000 per month with an average standard of living.
Once a Business Analyst gain's knowledge he/she can become a Project manager, Functional consultant, a product owner/analyst, Pre-sales consultant, or can even become IT PMO in the organization since the exposure is more across SDLC.
The BLS projects that demand for management analysts will increase by 11% between 2019 and 2029, which is much faster than average for all occupations. The BLS also highlights that competition for management analyst jobs will be strong due to the occupation's high earnings potential.
While the ability to program is helpful for a career in analytics, being able to write code isn't necessarily required to work as an analytics professional. Apart from the above languages, statistical software such as SPSS, SAS, Sage, Mathematica, and even Excel can be used when managing and analyzing data.
A Business Analyst will communicate with the top stakeholders in the organization to analyze business requirements, processes, and information systems, and will also help drive the business in the right direction by improving the products, services, and software with the help of data analytics.
What does a business analyst do? Business analysts identify business areas that can be improved to increase efficiency and strengthen business processes. They often work closely with others throughout the business hierarchy to communicate their findings and help implement changes.
A business analyst's daily job duties include identifying business issues, collecting and recording data, analyzing data, and evaluating and presenting data solutions. They work with several groups including customer service management, product development, business operations, and business clients.
“One of the main reasons I want to be a business analyst is because I like to be able to see a direct relationship between my efforts and the company's success. In my summer work term, I was able to improve the company's operational efficiencies resulting in a cost savings of 2%.”
1. Is business analyst a good career? Business analyst is a career that's full of exciting opportunities to use your acumen and business intelligence. It pays a higher salary than other business roles as well as perks and work-life balance.
It can be a promising career option for those looking for a secure job with attractive salary packages. You only need to get a relevant qualification and build the skills required to be a qualified business analyst.
Data analysts tend to work more closely with the data itself, while business analysts tend to be more involved in addressing business needs and recommending solutions. Both are highly sought-after roles that are typically well-compensated.
Business Analysts work in the operations and management sector while Financial Analysts work in the finance sector. A Business Analyst works on the overall development of the business while a Financial Analyst works for the improvement of financial processes.
This looks like the most typical career path of a business analyst. Going to a project manager is fairly common, because many the abilities learnt as a business analyst may be transferred to a project manager function (and it is really the path I am now taking with my career).
A junior business analyst is trained in gathering, validating, and documenting various system information and requirements. They are responsible for carrying out in-depth evaluation and verification of the system capabilities and act as the intermediary between end-users and software developers.
Business analysts are agents of change—professionals who analyze a business or organization, by documenting its systems and processes, assessing its business model, identifying vulnerabilities, and devising solutions. Business analysts go by many other job titles, including: Business Architect.
That fact also speaks to options for career advancement. Most business analysts work normally 9 to 5, they are not expected to be on call or away on the weekends, seldom are they asked to stay past office hours.
Software developers earn more than Business Analysts in most regions. Both careers have similar job satisfaction levels. Both careers have similar scope for growth, even though software developers have a higher scope of growth.
Being a business analyst, I think it is fair to say, is not the most creative profession out there. We do have opportunities to write clear requirements, create interesting PowerPoint presentations from time to time, and choose an ingenious font color scheme to make status reports exciting and readable.
Business analyst has to write different sets of test cases that need to design for UAT. Once UAT has done successfully the deployment will start at the customer's place, and the actual end-user will start using the software.
The demand for business analysts is very high among companies, small-scale options, and enterprises. Study estimates reveal that the job market for business analytics will grow at a CAGR of 14.3% by 2026. Companies are willing to pay higher salaries to analysts, especially certified expert-level professionals.
While the ability to program is helpful for a career in analytics, being able to write code isn't necessarily required to work as an analytics professional. Apart from the above languages, statistical software such as SPSS, SAS, Sage, Mathematica, and even Excel can be used when managing and analyzing data.
Data Analyst vs Business Analyst: Salary Comparison
The average data analyst's salary could go up to US$72,250 per year. It also depends on the company, job role, and geographical location matters. A business analyst's salary is typically higher, averaging US$78,500/year.
Being a business analyst can be tough because, at one point in this career, the individual will have to deliver inputs or outputs for a project despite encountering many problems and issues and that makes being a business analyst a tough job and it can get stressful at times due to various deadlines.
Since business analysis is useful also in Information Technology companies and is divided into Technical Business Analysis into some sectors; and in both of the scenarios, the use of technical skills is involved, then we can say in some way that Business Analyst jobs are also regarded as Technical Jobs.
Once a Business Analyst gain's knowledge he/she can become a Project manager, Functional consultant, a product owner/analyst, Pre-sales consultant, or can even become IT PMO in the organization since the exposure is more across SDLC.
Entry-level business analysts, or junior business analysts, support the collection and analysis of data for a business or organization, providing better solutions, technology integration, or systems improvements.
They can work full-time, part-time, freelance, or as independent contractors across a variety of career fields. And, because much of the business analyst role includes data analysis and visualization (think: crunching numbers and creating graphs and pie charts), in many cases, their work can be done remotely.
Business analysts often work with databases, and they can use SQL to retrieve data for reports and analysis. Therefore, if you're searching for a business analyst job, SQL skills can be very valuable. Once you get an interview, knowing how to answer SQL interview questions could be helpful to you.
We discussed four key skills for an entry level business analyst and evaluated them with the perspective of a non-IT professional. These skills are not related to programming, but take a bit of time to acquire. So, it is completely feasible and possible for a non-IT professional to become a business analyst.
A business analyst's daily job duties include identifying business issues, collecting and recording data, analyzing data, and evaluating and presenting data solutions. They work with several groups including customer service management, product development, business operations, and business clients.
Business Analyst is a good career because it offers strong salaries, plentiful job opportunities, and BAs generally report high job satisfaction and work-life balance. Another perk of a career in business analysis: the possibilities are endless.
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