Business Analyst, Finance/Banking Salary

Finance & Banking Business Analysts in the United States take home approximately $58K per year on average. Earnings sit near $40K on the lower side but can approach $95K per year on the higher side. Total incomes of Finance & Banking Business Analysts incorporate potential for, in a few cases, more than $12K from bonuses and close to $7K from profit sharing; these performance components cause packages to range between $40K and $95K. Geography is the main element affecting pay for this group — career length and the particular employer are driving factors as well. Medical benefits are awarded to a large number, and most earn dental coverage. For the most part, Finance & Banking Business Analysts enjoy their work and report high levels of job satisfaction. Male Finance & Banking Business Analysts are more prevalent than women among those who took the survey — 65 percent of professionals. Respondents to the PayScale salary survey provided the data for this report.

$39,728 - $86,254
(Median)
$40K
$58K
$86K
MEDIAN: $58,448
10%
50%
90%

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$13.01 - $58.33
(Median)
$13
$22
$58
MEDIAN: $22.00
10%
50%
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
$39,728 - $86,254  
   
Bonus
$0.00 - $12,109  
Profit Sharing
$519 - $6,815  
Commission
$0.00 - $14,500  
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).
)
$39,501 - $95,326  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 1,137
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
$13.01 - $58.33  
   
Overtime
$13.91 - $51.82  
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
$0.00 - $12,109  
   
Commission
$0.00 - $14,500  
Profit Sharing
$519 - $6,815  
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).
)
$39,501 - $95,326  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 129
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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

  • 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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As Finance & Banking Business Analysts transition into upper-level roles such as Management Consultant, they may see a strong upturn in salary. Management Consultants earn $93K on average per year. Finance & Banking Business Analysts most often move into positions as Senior Financial Analysts or Senior Business Analysts; those groups report median salaries that are $14K higher and $24K higher, respectively.

Business Analyst, Finance/Banking Job Listings

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Popular Employer Salaries for Business Analyst, Finance/Banking


The pay scale is far from balanced at J.P. Morgan Chase & Co. (JPMCC). While salaries on one end can reach $105K, the company's median pay sits at $61K, the lowest in the field.

Popular Skills for Business Analyst, Finance/Banking


Survey respondents exploit a significant toolbox of skills in their work. Most notably, facility with SAS, SQL, and Requirements Analysis are correlated to pay that is significantly above average, leading to increases of 23 percent, 12 percent, and 11 percent, respectively. Skills that seem to negatively impact pay include Windows Operating System General Use, Microsoft Word, and Microsoft Access. It is often found that people who know Microsoft Excel are also skilled in Data Analysis and Financial Analysis. Those who learned Microsoft Office also tend to know Financial Analysis.

Pay by Experience Level for Business Analyst, Finance/Banking

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


Although individuals who have less than five years' experience earn $56K on average, people with five to 10 years benefit from a notably larger average of $67K. On average, Finance & Banking Business Analysts make $78K following one to two decades on the job. Finance & Banking Business Analysts with more than 20 years of experience report incomes that are no higher than those with 10 to 20 years on the job.

Pay Difference by Location


For those looking to make money, Finance & Banking Business Analysts in San Francisco enjoy an exceptional pay rate, 36 percent above the national average. Finance & Banking Business Analysts will also find cushy salaries in New York (+29 percent), Washington (+17 percent), Boston (+17 percent), and Cleveland (+8 percent). Charlotte is the lowest-paying area, 17 percent south of the national average. Workers in Tampa and Minneapolis earn salaries that trail the national average for those in this profession (17 percent less and 14 percent less, respectively).

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Experience Affects Business Analyst, Finance/Banking Salaries


Late-Career
up arrow 29%


National Average
$60,000


Skills That Affect Business Analyst, Finance/Banking Salaries

SAS
up arrow 23%

SQL
up arrow 12%



Document Preparation
up arrow 8%

Project Management
up arrow 4%

Business Analysis
up arrow 3%

Financial Modeling
up arrow 3%

Data Analysis
0%

Financial Analysis
0%

National Average
$60,000

Microsoft Office
up arrow 2%

Microsoft Excel
up arrow 4%




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 270 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
9%
1-4 years
49%
5-9 years
27%
10-19 years
12%
20 years or more
4%

Common Health Benefits

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