What Is a Business Analyst and How Much Do They Make?

Introduction

Business Analysts make an integral part of a business and help businesses maximize their productivity through data-driven decisions. They are highly qualified professionals who analyze and interpret extensive data to provide effective business solutions. The business analysts document, process, and interpret all the business procedures and are responsible for a project’s overall planning, implementation, and processing to ensure a successful outcome. These professionals must have essential technical, analytical, problem-solving, and research skills. In addition, business analysts must have effective communication skills to interact with the management, teams, and stakeholders to identify various business goals and work on achieving them. Various institutes offer Business Analyst Training to help aspiring professionals develop all the necessary skills and build a career in this field.

This section provides insight into the various duties of a business analyst and the average salary of these professionals in India. Read on to know more.

Business Analyst Roles and Responsibilities

Business analysts are a valuable asset in an organization. The data-driven decisions made by business analysts ensure the business’s overall productivity. In addition, business analysts deal with the teams, clients, stakeholders, and management to ensure the successful completion of a project.

Here are some major roles and responsibilities of a business analyst in an organization.

• The Business analysts identify and analyze the existing business processes.
• The Business analysts provide suggestions to improve the business using various data analytics and evaluation skills.
• These professionals communicate with the management and clients to understand the business goals and work towards achieving them.
• The Business analysts train the team members for upcoming business projects.
• The business analyst persuades stakeholders about the various benefits of a new business idea.
• These professionals work and execute new ideas to meet different business requirements.
• The Business analysts create and maintain records to track the business performance at various stages.
• Business analysts perform financial analyses to budget and forecast different business resources.

How Much Does A Business Analyst Make?

Business analysts are among the most highly paid professionals in any business. They are skilled in business analysis, technical domains, problem-solving, etc., and ensure the best results for their organization. One can join the Business Analyst Online Course to learn such skills and become a professional. A certification course enables individuals to develop the best industry-relevant skills and get hired faster. Furthermore, these training certificates validate an individual’s skills as a professional and help them get placed in the top companies with excellent pay scales.

The average salary of a business analyst ranges between Rs. 2.6 LPA to Rs. 15.4 LPA, with an estimated monthly income between Rs. 51,710 to Rs. 52,929 per month. However, the amount depends on one’s skills and experience and is subject to increase with relevant work experience in various companies.

Let us look at some of the top companies and the salaries they offer for business analysts.

1. TCS: Rs. 3.5 LPA to Rs. 13.1 LPA for 1-11 years of work experience.
2. Genpact: Rs. 4.8 LPA to Rs. 10.5 LPA for 1-8 years of work experience.
3. Accenture: Rs. 4 LPA to Rs. 10.5 LPA for 1-9 years of work experience.
4. Wipro: Rs. 4.7 LPA to Rs. 17.5 LPA for 2-10 years of work experience.
5. Cognizant: Rs. 5 LPA to Rs. 15 LPA for 1-10 years of work experience.
6. Infosys: Rs. 4.5 LPA to Rs. 17 LPA for 1-10 years of work experience.
7. Deloitte: Rs. 6 LPA to Rs. 14.5 LPA for 1-6 years of work experience.
8. Amazon: Rs. 5.2 LPA to Rs. 21 LPA for 2-7 years of work experience.

Conclusion

To summarise, business analysts are one of the most valuable members of an organization who provide effective data-driven decisions to ensure greater productivity and profits. The business analysts interact with the management and clients to understand various business objectives. In addition, the business analysts communicate and persuade the stakeholders and train the team members to achieve the business goals. They execute new ideas to meet different business requirements and perform financial analyses to budget and forecast different business resources. The average salary of a business analyst ranges between Rs. 2.6 LPA to Rs. 15.4 LPA, with an estimated monthly income between Rs. 51,710 to Rs. 52,929 per month. Some of the top companies hiring business analysts include TCS, Cognizant, Wipro, Amazon, Accenture, Infosys, etc.