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Business Analyst, Finance/Banking Salary

Finance & Banking Business Analysts in the United States take home an average $58K per year. Total cash earnings of Finance & Banking Business Analysts range from $40K on the low end to $94K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $11K and $7K, respectively. The most influential factor affecting pay for this group is residence, though career duration and the particular employer have a (lesser) impact as well. For the most part, Finance & Banking Business Analysts enjoy their work and report high levels of job satisfaction. Men make up the majority of Finance & Banking Business Analysts (63 percent) survey respondents. A large number enjoy medical while most get dental coverage. Vision coverage is also available to a majority.
$39,921 - $85,085
(Median)
40K
48K
58K
70K
85K
MEDIAN: $57,644
10%
25%
50%
75%
90%

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$13.34 - $56.71
(Median)
13
22
37
57
MEDIAN: $22.00
10%
50%
75%
90%

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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$32K$64K$96K
Salary
$39,921 - $85,085  
   
Bonus
$99.33 - $11,191  
Profit Sharing
$608 - $6,837  
Commission
$0.00 - $4,069  
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).
)
$39,565 - $94,251  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 1,585
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$20$40$60
Hourly Rate
$13.34 - $56.71  
   
Overtime
$14.93 - $57.70  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$99.33 - $11,191  
   
Commission
$0.00 - $4,069  
Profit Sharing
$608 - $6,837  
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).
)
$39,565 - $94,251  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 184
United States (change)

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

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

Common Career Paths for Business Analyst, Finance/Banking


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At the upper end, Finance & Banking Business Analysts who move into a Management Consultant role can end up with a hefty increase in pay. The average income for Management Consultants is $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 $24K more per year.

Business Analyst, Finance/Banking Job Listings

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Popular Employer Salaries for Business Analyst, Finance/Banking


J.P. Morgan Chase & Co. (JPMCC) offers the lowest pay, with a median salary of just $54K. The pay scale doesn't vary widely, either; compensation ranges from $37K to $101K.

Popular Skills for Business Analyst, Finance/Banking


Finance & Banking Business Analysts report using a deep pool of skills on the job. Lucky workers who know SAS can expect a significant pay bump, scoring salaries 24 percent above average. Requirements Analysis and Document Review and Distribution are also correlated to pay that is above average, with increases between 12 percent and 24 percent. Skills that are correlated to lower pay, on the other hand, include Windows Operating System General Use, Microsoft Word, and Microsoft Access. Most people familiar with Microsoft Office also know Financial Analysis. Most people skilled in Microsoft Excel are similarly competent in Data Analysis and Financial Analysis.

Pay by Experience Level for Business Analyst, Finance/Banking

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


Respondents with less than five years' experience take home $56K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $67K. After working for 10 to 20 years, Finance & Banking Business Analysts make a median salary of $77K. Finance & Banking Business Analysts who have racked up more than two decades of experience report lower incomes overall; the average sum for this crowd comes out to only $73K.

Pay Difference by Location


Surpassing the national average by 36 percent, Finance & Banking Business Analysts in San Francisco receive some of the highest pay in the country. Finance & Banking Business Analysts will also find cushy salaries in New York (+26 percent), Washington (+18 percent), Boston (+18 percent), and Cleveland (+9 percent). Columbus is home to the smallest salaries in the field, lagging the national average by 18 percent. Employers in Tampa and Minneapolis also lean toward paying below-median salaries (16 percent lower and 13 percent lower, respectively).

Related Job Salaries

Experience Affects Business Analyst, Finance/Banking Salaries


Late-Career
up arrow 22%


National Average
$60,000


Skills That Affect Business Analyst, Finance/Banking Salaries

SAS
up arrow 24%



Document Preparation
up arrow 10%

SQL
up arrow 7%



Financial Analysis
up arrow 1%

Financial Modeling
up arrow 1%

Data Analysis
0%

National Average
$60,000

Microsoft Office
up arrow 1%

Microsoft Excel
up arrow 3%

Microsoft Access
up arrow 3%

Microsoft Word
up arrow 4%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 494 votes.

Gender

Female
37 %
Male
63 %

Years of Experience

Less than 1 year
9%
1-4 years
48%
5-9 years
27%
10-19 years
13%
20 years or more
4%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 82%
vision benefits Vision: 67% employee benefits None: 9%