Business Analyst, IT Salary
Job Description for Business Analyst, IT
A business analyst, IT, focuses on improving operations that involve information technology within a company. The business analyst offers consultation to management in an effort to help the company become more effective. The IT business analyst will analyze the hardware, software, and IT services that are being employed in a company. Analyses will have to be carried out in order to determine areas that need improvement. It is also important to have strong research skills in order to determine the latest trends and solutions.Read More...
The analyst will then peruse the results and make suggestions as to what should be changed regarding company IT policies, IT structure, and IT operations. When problems are detected, the analyst should carry out problem-solving techniques in order to come up with a solution. When solutions are implemented, the analyst should continue to monitor these solutions to analyze their efficiency and to make continuous improvements. Knowledge of SQL is important, in order to be able to analyze data from databases. The business analyst should be able to carry out analyses, such as cost benefit analyses. Therefore, strong mathematical skills are essential. Presentation and report-making skills are important in order to present the findings to upper management.
Many positions require a master’s degree in information technology or a related field. Other positions prefer proven experience in IT business analyses over the educational requirements. Many positions offered are full-time. Some positions require that a business analyst works directly for a company, while others work for an agency that provides analyses services to various companies.
Business Analyst, IT Tasks
- Create project plans for information technology development and testing.
- Translate requirements into new information technology project specifications.
- Identify, communicate, and manage risks associated with projects.
- Identify business or customer requirements and information technology alternatives.
Common Career Paths for Business Analyst, IT
While not commonly seen, IT Business Analysts who transition into an IT Program Manager position may see a rise in pay. The median salary for IT Program Managers is $112K per year. Typical career progression for an IT Business Analyst involves becoming an Information Technology Project Manager or a Senior Business Analyst, roles that pay $17K more and $15K more on average.
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Popular Employer Salaries for Business Analyst, IT
J.P. Morgan Chase & Co. (JPMCC), HP Enterprise Services, CGI Group Inc., Accenture, and CGI Federal are all popular places to work. The biggest paychecks can be found at Chevron Corporation — the median salary there is $93K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $74K and highest ones in the neighborhood of $157K. Other leaders in compensation levels are Citibank at $89K, Bank of America Corp. (BOFA) at $86K, and Citigroup, Inc., where IT Business Analysts annually earn $82K.
Earnings fall especially short at CGI Group Inc., where the median salary of $45K is the lowest in the field, less than half of the top paying employer's rate. Workers at HP Enterprise Services, CGI Federal, and American International Group, Inc. (AIG) also face smaller salaries than the rest of the field — average earnings for these employers come to $55K, $58K, and $66K respectively.
Popular Skills for Business Analyst, IT
IT Business Analysts report using a deep pool of skills on the job. Most notably, skills in Requirements Analysis, Project Management, Oracle, and Business Analysis are correlated to pay that is above average, with boosts in pay of 4 percent. Skills that seem to negatively impact pay include Windows Operating System General Use, HTML, and Microsoft Access. It is often found that people who know Business Analysis are also skilled in Project Management and Microsoft Office.
Pay by Experience Level for Business Analyst, IT
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For IT Business Analysts, more experience in the field does not usually mean bigger paychecks. Salaries of relatively inexperienced workers fall in the neighborhood of $62K, but folks who have racked up five to 10 years see a notably higher median of $78K. For IT Business Analysts, 10 to 20 years of experience on the job amounts to an average salary of $85K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $88K.
Pay Difference by Location
San Francisco is home to an above-average pay rate for IT Business Analysts, 28 percent higher than the national average. IT Business Analysts will also find cushy salaries in New York (+18 percent), Charlotte (+11 percent), Houston (+8 percent), and Seattle (+5 percent). The lowest-paying market is Atlanta, which sits 4 percent below the national average. Employers also pay below the national average in Dallas (3 percent lower) and Denver (2 percent lower).
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