A business analyst is a person who studies business estate. In the past few years, this approach of managing the organization is being practised in every organization. This particular business of business analysis tells how the organization works. The business analysis job looks over all the organization levels, be it a top-level, middle-level, or lower level. Having a business analyst salary in an organization identifies new opportunities and realizes required capabilities, lowering the cost, etc.
Business analyst has other job titles too other than business analyst. These titles can be business intelligence analyst, business systems analyst, management consultant, systems analyst, data scientist, process analyst, business architect, product manager, enterprise analyst and product owner. Business analysis is considered as the fundamental business exercise in the sectors of IT and enterprise.
WHO IS A BUSINESS ANALYST?
A business analyst is a person who overall looks out the problems and solutions for the organization. He is the one who records the organization’s systems, processes, important documents etc. He works for the whole organization and evaluates the nature of the business. A business analyst brings the required technology into the company. He is responsible for guiding, boosting new products and services through analyzing the required data. He is the one who improves services and business operations within the organization.
ROLE OF A BUSINESS ANALYST
1. Business analyst act as a system in filling up the gap between business and technology.
2. He provides technological solutions to the business problem.
3. He is responsible for analyzing the issues, defining them and then finding the solutions.
4. Business analyst examines the structure of the organization and the way it operates the technology.
5. He compares the past records with the present records to find out the problems.
6. Trains his peer group with the help of training sessions and workshops.
Types of business analysis
1. Business developer- This types of business analysis identifies the company’s needs and opportunities.
2. Business model analysis – This analysis includes the market’s approaches and policies.
3. Process design- It systematizes organizations functions
4. Systems analysis- It explains the rules, terms and conditions for the system.
Various factors affecting Business analyst salary in India
Various factors are kept in mind in terms of a business analyst salary in India. These factors can be the size and reputation of an organization, education qualification, location and position of a job, and a job analyst’s experience. The most important factors can be the skills that a business analyst has enhanced from his institute. Various companies offer good salaries to a business analyst title. These companies can be TCS, Computer Sciences Corporation (CSC), Capgemini, Accenture, Deloitte, Amazon etc. That Business analyst from top B-Schools or institutions is paid a good salary as compared to the other colleges. Also getting switched to the other companies frequently helps you in getting the experience, which in turns increase your salary. It is the fact that the higher you experience, the more you earn.
High paid salaries to business analysts by Popular companies.
Capgemini, Tata Consultancy Services (TCS), Computer Sciences Corporation (CSC), Accenture, Deloitte, Amazon can be the best companies in terms of salaries and experience. The business analyst salary in India can be Rs. 7,10,000 per annum working in Accenture, Rs. 6,93,148 per annum at Tata Consultancy Services, Capgemini offers around Rs. 7,02,678 per annum etc. Few reputed companies like Hindustan Computers Limited offer Rs. 5,23,300 per annum, the average annual salary of Western India Palm Refined Oil (WIPRO) is Rs. 5,80,200 and Computer Sciences Corporation offers approximately Rs. 6,03,000. The business analyst salary in India of Amazon ranges from Rs. 3,50,500 to Rs. 17,90,200 in terms of their skills.
The salary scale of a business analyst in terms of experience level
Experience level of individual matters a lot during his or her placement. The starting salary of a business analyst ranges from Rs. 3,70,000 to 5,50,000. These ranges depend upon their experience and the roles offered to them according to their level of skill. For example, India’s business analyst salary is offered a job at the entry-level in IT with less than one year experience with Rs. 3,41,000. Another example can be of a business analyst with 1-5 years of experience getting an annual salary of Rs. 5,50,000.
Its sources can be
There is a direct proportion between the job experience and salary, which means as experience increases, the salary also increases. If a business analyst is having experience of 6-10 years, he is offered around Rs. 8,50,000 per annum. You can also take an example of a business analyst who can make approximately Rs. 12,10,800 per annum with experience of 15 years or above. He can also earn Rs. 16,70,000 per annum with further experiences. So, you can conclude that through experiences, a business analyst in India can earn a lot.
The salary scale of a business analyst in terms of location
Location can be considered as an important factor when the salary of a business analyst is considered. Pune and Bangalore are often called the education hub of India. You can find many top reputed B-Schools in these states of India. Headquarters of many companies are also situated in these areas. Business analyst salary in India is higher in Pune and Bangalore. In Pune, business analyst earns approximately 17.6% higher than the other states and Bangalore 13% more. In Hyderabad, Noida and Chennai, these business analysts earn less than other states. Business analysts in Hyderabad, Noida and Chennai are offered approximately 4.5%, 8.5%, and 5.3% less than the national average.
It can be concluded that the business analyst salary in India is a decent one. The factors like experience and location matter a lot. An experienced candidate will add value to the organization. IT companies pay a decent package to their employees who are hardworking and deserving. Although educational qualifications play an important role for business analysts, having advanced certifications can earn even higher.