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 $113K per year. The most common next step for an IT Business Analyst is to become an Information Technology Project Manager or a Senior Business Analyst. The former position pays an additional $17K per year on average, and the latter position pays $15K more per year.
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Popular Employer Salaries for Business Analyst, IT
J.P. Morgan Chase & Co. (JPMCC), HP Enterprise Services, CGI Group Inc., Cisco Systems Inc, and Accenture are leaders in the field that employ a large number of IT Business Analysts. Employees of Chevron Corporation can expect to make the most, with the company offering a median salary of $93K; however, pay is widely dispersed from bottom to top, ranging from $74K to $157K. Citibank, Bank of America Corp. (BOFA), and Citigroup, Inc. are a few other companies that offer generous salaries, with IT Business Analysts earning around $89K, $85K, or $82K at each firm, respectively.
Known for its small paychecks, CGI Group Inc. actually ranks last in the field for salary, reporting a median income of $47K — just about half of the top paying company's median. A few other companies with smaller-than-average paychecks include HP Enterprise Services ($55K), CGI Federal ($60K), and American International Group, Inc. (AIG) ($66K).
Popular Skills for Business Analyst, IT
IT Business Analysts seem to exploit a large range 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 HTML, Windows Operating System General Use, and Microsoft Access. The majority of those who know Business Analysis also know 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. Workers in their first five years can expect to earn $62K, but people who have been around for five to 10 years earn a noticeably bigger sum of $78K. People with 10 to 20 years of experience make an average of about $84K in this role. IT 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 $87K on average.
Pay Difference by Location
IT Business Analysts will find that San Francisco offers an impressive pay rate, one which exceeds the national average by 28 percent. IT Business Analysts will also find cushy salaries in New York (+18 percent), Houston (+7 percent), Boston (+6 percent), and Philadelphia (+5 percent). With compensation 5 percent below the national average, Atlanta is not known for hefty paychecks and actually represents the lowest-paying market. Below-median salaries also turn up in Chicago and Denver (2 percent lower).
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