Business Analyst Salaries in the US (January 2023)
The business analyst is an in-demand data science job with a highly competitive salary range. Here are the numbers for 2023.
The job market is having a moment right now, and many people are considering a job switch. Enter the business analyst . . .
Business analysts are trained data specialists with database and business intelligence software skills who can manipulate, analyze, and present data in visually insightful ways.
Business analyst is an in-demand job that ranked among Glassdoor’s 50 Best Jobs in America for 2022 ahead of prominent job titles such as project manager, realtor, risk manager, and front-end engineer.
In addition to a fulfilling career, a business analyst will enjoy a salary that is well above the national average in the U.S.
Salaries listed below are in USD, for U.S. Business analyst salaries and may vary depending on region.
What is the average entry-level salary for a business analyst?
Unless you have experience in another job that could translate to working as a business analyst, you can expect to start with an entry-level business analyst salary.
A business analyst’s entry-level salary ranges from between 55,000 on the low end and 78,000 on the high end (although, it’s possible for outliers to fall beyond that range).
The reason why entry-level business analyst salaries vary so widely comes down to location, employer, and experience. Additionally, the scope of the job affects the salary. Because business analysts need many skills to do their jobs effectively, companies that demand more experience in certain skills are willing to pay top dollar for well-trained candidates.
So, to get a better idea of a business analyst’s salary, it’s better to look at the average.
What is the average salary for a business analyst?
The average business analyst salary better reflects how much you can expect to earn if you make a career switch. According to Glassdoor, the average business analyst salary is 73,529. That’s not bad at all, but that’s just the beginning. Apparently, that number is closer to 95,000. That’s due to approximately 20,000 in bonuses. Now, that’s a salary.
Other reports find the average business analyst salary is between 80,000 and 90,000.
Indeed, for example, lists the average business analyst salary at 85,837. However, the site indicates that business analysts receive an average cash bonus of 5,400, which puts the average salary to over 90,000.
And on Salary Expert, the average business analyst salary is listed at 96,000. That puts business analysts with only a few years of experience within spitting distance of the six-figure club. Salaries for experienced business analysts can go much, much higher.
How much can I make as a business analyst over time?
For in-demand business analysts with a good education, a solid resume, and several years of experience, the average salary starts at around 100,000.
On Glassdoor, the high-end of the business analyst salary range tops out at 232,000.
Similarly, on Indeed, there are jobs listed in approximately the same neighborhood, meaning that a 200,000 salary is not out of the question within five to ten years of working as a business analyst.
The high salary ceiling is incentive enough to jump into the world of business analytics. Of course, with such a technical field, employers will look for highly qualified candidates with the right skills. A degree in business analytics or an adjacent field is a top requirement, but don’t be discouraged.
You don’t need to attend a four-year institution to start your journey as a business analyst.
What salary can I expect with my level of education?
Employers expect business analyst candidates to know SQL, Excel, Microsoft Power BI, and database software. The other half of the job is experience. Essentially, employers look for applicants who not only know their stuff but can also put that knowledge to use.
Granted, these are skills one could learn by enrolling in a bachelor's or master’s degree program. These traditional in-person institutions are an option, but they’ll likely take up too much of your time and money. Attending class for three to five years to earn a degree is a commitment that many can’t afford, especially when considering the rising cost of higher education.
Then there’s the matter of hands-on, real-world experience, which isn’t guaranteed in a classroom. While a degree on your resume is a plus, a portfolio of projects or some real-world experience matters more to employers.
The new Dataquest Business Analyst path will teach you all the skills that will make you a top candidate on paper and in the eyes of prospective employers. Unlike in-person institutions, where you would spend at least three years, the Business Analyst path progresses at your own pace, requiring only 7-10 hours of your time each week. With 15 courses divided into three sections, the Business Analyst Path teaches proficiency in Excel, SQL and Microsoft Power Bi.
In addition, as the course progresses, you’ll apply your skills to guided projects that will challenge your knowledge and give you hands-on experience. Finally, you will be able to showcase the projects in your portfolio. In the end, you’ll be able to turn large datasets into actionable business strategies, putting you squarely on the path to earning a salary of 100,000 or more.