Business Analyst, Finance/Banking Salary

The median total income of Finance & Banking Business Analysts is around $62K, and for the average worker in this area, a good chunk of that (more than two-fifths, in fact) comes from commissions. Including potential for bonuses and profit sharing — peaking near $15K and $11K, respectively — total cash payment to Finance & Banking Business Analysts can bottom out near $41K or peak near $101K depending on individual performance. Compensation for this group is mainly affected by geography, but the company and years of experience are influential factors as well. Men make up a slight majority of Finance & Banking Business Analysts (58 percent) who responded to the survey. Most workers in this position report high levels of job satisfaction. A large number report receiving medical coverage from their employers and a fair number collect dental insurance.

$41,180 - $94,596
$41K
$61K
$95K
MEDIAN: $60,587
10%
50%
90%

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$16.16 - $50.19
$16
$24
$50
MEDIAN: $24.48
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$41,180 - $94,596  
   
Bonus
$727 - $14,589  
Profit Sharing
$0.00 - $11,200  
Commission
$27,500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$40,863 - $101,260  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 1,199
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$25$50$75
Hourly Rate
$16.16 - $50.19  
   
Overtime
$18.55 - $49.86  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$727 - $14,589  
   
Commission
$27,500  
Profit Sharing
$0.00 - $11,200  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$40,863 - $101,260  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 178

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Business Analyst, Finance/Banking

A business analyst is someone who scrutinizes the financial aspects of the business and determines if there are any changes that could be made to make the business more successful. A successful analyst needs a detailed mind that is able to analyze data and come to conclusions based on this data. Based on these conclusions the analyst makes recommendations and changes to improve the business.

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Business Analyst, Finance/Banking Tasks

  • Coordinate, organize and direct organization of projects and processes related to the financial sector of the business.
  • Develop and implement goals and procedures related to management of financial aspects of the business.
  • Gather, analyze and interpret data in areas such as budgets, financial planning and forecasting, cash flow projections, etc.

Common Career Paths for Business Analyst, Finance/Banking


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Finance & Banking Business Analysts' salaries may rise greatly for those who assume a higher-end position such as a Management Consultant. The average Management Consultant brings home $93K per year. The most common next step for a Finance & Banking Business Analyst is to become a Senior Financial Analyst or a Senior Business Analyst. The former position pays an additional $14K per year on average, and the latter position pays $23K more per year.

Business Analyst, Finance/Banking Job Listings

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Popular Employer Salaries for Business Analyst, Finance/Banking


Many Finance & Banking Business Analysts can be found at J.P. Morgan Chase & Co. (JPMCC), Bank of America Corp. (BOFA), U.S. Bank, The PNC Financial Services Group, Inc., and M&T Bank Corp, firms that are at the top of the field. Capital One Financial Corp does shell out the biggest paychecks — the median in that office is $79K — but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $50K while workers on the upper end may rake in up to $103K. The Bank of New York Mellon Corporation (BNY Mellon), Bank of America Corp. (BOFA), and Chase Bank are a few other companies that offer generous salaries, with Finance & Banking Business Analysts earning around $75K, $73K, or $64K at each firm, respectively.

While select M&T Bank Corp employees may bring in up to $151K, a median salary of only $48K — the lowest in the field — suggests a serious lag in the earnings department. Employees at U.S. Bank, The Northern Trust Company, and Citibank can also expect below-average earnings of $52K, $55K, and $59K.

Popular Skills for Business Analyst, Finance/Banking


Finance & Banking Business Analysts report using a deep pool of skills on the job. Most notably, facility with SAS, Process Improvement, and SQL are correlated to pay that is significantly above average, leading to increases of 21 percent, 13 percent, and 11 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Windows Operating System General Use, Document Review and Distribution, and Microsoft Word. Those who learned Microsoft Excel also tend to know Microsoft Office and Financial Analysis. Those familiar with Data Analysis also tend to know Financial Analysis and Microsoft Office.

Pay by Experience Level for Business Analyst, Finance/Banking

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For Finance & Banking Business Analysts, experience does not seem to be a major factor in determining pay. The average worker who claims fewer than five years of experience earns around $58K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $72K. On average, Finance & Banking Business Analysts make $79K following one to two decades on the job. Finance & Banking Business Analysts who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $83K on average.

Pay Difference by Location

National Average: $61,623

Larger city markers indicate a job is popular in that location.

For Finance & Banking Business Analysts, busy San Francisco offers a higher-than-average pay rate, 32 percent above the national average. Finance & Banking Business Analysts will also find cushy salaries in New York (+31 percent), Houston (+19 percent), Seattle (+15 percent), and Washington (+10 percent). Location is a huge contributor to overall pay, with Finance & Banking Business Analysts in Buffalo earning a whopping 31 percent below the national average. Below-median salaries also turn up in Pittsburgh and Columbus (13 percent lower and 9 percent lower, respectively).

Related Job Salaries

Key Stats for Business Analyst, Finance/Banking

Gender

Female
42 %
Male
58 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 213 votes.
Less than 1 year
10%
1-4 years
49%
5-9 years
20%
10-19 years
16%
20 years or more
5%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Business Analyst, Finance/Banking Salaries

▲35%

▲29%

▲16%

National Average
$62,000

▼6%

Skills That Affect Business Analyst, Finance/Banking Salaries

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 213 votes.

Gender

Female
42 %
Male
58 %

Years of Experience

Less than 1 year
10%
1-4 years
49%
5-9 years
20%
10-19 years
16%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 78%
vision benefits
Vision: 69%
dental benefits
None: 12%
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