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Business Test Analyst Salary
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In our technology-driven world, businesses, both large and small, rely on data to make evidence-based decisions and stay competitive in their marketplace.
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While collecting and organizing this data is important, how it is analyzed is what benefits a company’s bottom line. Using, manipulating, and applying data models to inform business decisions is the critical task of business analytics professionals. From marketing to finance, business analysts identify trends, risks and opportunities to calculate ROI and help the business achieve its goals.
Due to the pivotal role of business analysts, this career path offers a wealth of job opportunities and high earning potential. But how do you acquire the skills to make strategic and accurate decisions? A master’s degree in business analytics provides the practical knowledge to lead companies in making data-driven decisions, while increasing your salary expectations.
According to Payscale, the average salary for someone with a master’s degree in business analytics is $72,000. Whether you’re currently working in a data-driven role or looking to switch careers, a master’s in business analytics could benefit you. Let’s look at what makes someone successful in this career, the typical jobs they hold, and the average salaries they earn.
Choosing a master’s degree is a big decision. While high salaries can be a strong incentive, they shouldn’t be the only reason you choose a career. Be sure to choose a master’s program that you are passionate about and that will lead you to a long-term and fulfilling career. Wondering if business analytics is the right path for you? Ask yourself these questions:
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If most of your answers are “yes,” you may be a great fit for a career in business analytics.
Get a FREE roadmap that includes insider information to help you maximize the many opportunities in the fast-growing field of Big Data. 7 Highest Paying Jobs for Candidates with a Masters in Business Analytics
An MSc in Business Analytics is an extremely flexible degree. You can work in any type of industry, applying your knowledge of data to solve organizational challenges, find opportunities and achieve business goals.
We’ve compiled a list of the best jobs you can pursue with your master’s degree. These functions are needed in a wide range of organizations, from Fortune 500 to startups. See which jobs are ideally suited to your career interests.
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Would you like to discover ways to increase a company’s profits and margins? Senior business analysts are able to take large amounts of organizational data and understand how to apply it to achieve business goals. They are responsible for using data to identify strengths and weaknesses and suggest improvements that will improve a company’s profitability and competitiveness in its market. Job Responsibilities:
Would you like to use data to guide business strategy? Business Intelligence and Analytics Managers are responsible for leading a team of analysts and ensuring the accuracy of their findings. They also identify market trends and predict how their company should evolve based on their findings. Job Responsibilities:
Do you enjoy turning data into useful information? A financial planning and analysis manager is responsible for using data to predict a company’s performance. They identify data anomalies, trends, and variables to provide insight into improvements that will benefit a company financially. Job Responsibilities:
Do you like diving into detailed financial data? Senior Financial Analysts must be skilled in analyzing accounting information, determining economic and financial risks, and developing solutions for challenges identified by their team. Job Responsibilities:
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Are you captivated by the fluctuations of the stock market? Quantitative analysts develop strategies to help companies maximize their investments. They create data models to help improve business processes and strategies to increase business profits. Job Responsibilities:
Do you like a hard problem? Analytics consultants develop and implement data-driven solutions for their organization or clients. They are responsible for mining data and using that information to meet the needs of an organization. Job Responsibilities:
Do you want to boost how your business goes to market? Senior Marketing Analysts develop and execute sales and advertising strategies to position companies within their market. They determine how companies can increase ROI on marketing spend to increase revenue, improve brand awareness and reach new customers. Job Responsibilities:
Not all business analytics software is created equal. If you think business analytics is the right career path for you, the next step is to find the right master’s program. For working professionals looking to advance their careers without dedicating time to a master’s program, an online applied master’s program is a great way to accomplish both goals. Not only will you acquire new skills, but you will be able to apply them to your daily work. The University offers a cutting-edge program in business analytics that will give you the tools to manipulate data, identify trends and solve real-world business challenges. You will also gain communication and presentation skills to position yourself as a leader in your organization. Explore the University M.S. in the Business Analytics program to see how it can help you achieve your career goals. Business analysts are the driving force behind the new-age enterprise that practices data-driven decision-making and problem-solving. At its core, the role of a business analyst is to bridge the gap between IT and the business verticals of an organization. They use data analytics to determine business requirements, evaluate processes, and deliver recommendations and reports to stakeholders. This blog will help you learn more about the required skill set, roles and responsibilities and also the salary offered to a business analyst based on different factors such as work experience, location of the work and much more.
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Ideally, business analysts would engage with business leaders to understand how data-driven decisions would improve efficiency. These changes could be applied to processes, products and services, software and hardware to add value. Finally, they execute ideas that are both technologically and economically viable.
Business analysts primarily report to project managers. Key tasks include requirements analysis, process implementation and documentation, and performing user acceptance testing. A natural analytical bent and the ability to explain technical concepts to non-technical users are the keys to success for business analysts.
Apart from these, also read more about What are some tools used by business analysts? and Big Data analytics skills to increase your salary
Similar to any other job role, the salary of a business analyst would depend on a number of factors such as company size, reputation, location, work experience and educational qualification. Companies like TCS, Amazon, Accenture or Deloitte pay higher salaries. The more work experience you have, the higher your market value. Please note that due to these variables, there is a possibility of a change in salary.
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The average salary of a business analyst in India is around ₹612,656 per year. The average salary for a business analyst in the US is around $70,489 per year.
If you want to learn more about salary trends as a business analyst over the next 5-10 years and compare your salary to your peers, check out Salary Builder and gain powerful insights.
Depending on your years of experience, the average business analyst salary can range from ₹ 3,50,000 to ₹ 5,00,000. The lower end is an entry-level salary with less of one year of work experience and the highest. final is the salary of those with 1-4 years of work experience.
As your experience increases over time, so does the salary you earn. A business analyst with 5-9 years of industry experience can earn up to Rs. 8 lakhs per annum. While a senior business analyst with up to 15 years of experience earns close to Rs. 12 lakhs per annum.
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We consider TCS, Accenture, Computer Sciences Corporation and Capgemini as some of the top companies that offer the highest salary packages for business analysts.
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