Business Analyst, Finance/Banking Salary

Total annual pay for Finance & Banking Business Analysts is approximately $61K, and commissions account for a significant portion of this final number — two-fifths on average. Cash earnings for Finance & Banking Business Analysts — including $15K in bonuses and $8K in profit sharing proceeds near the top of the pay scale — generally stretch from $40K to $97K depending on individual performance. Compensation for this group is mainly affected by geographic location, but experience level and the individual firm are influential factors as well. Most workers in this position report high levels of job satisfaction. A large number report receiving medical coverage from their employers and most collect dental insurance. More than half of Finance & Banking Business Analysts (64 percent) survey respondents are men. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$40,258 - $87,610
(Median)
$40K
$59K
$88K
MEDIAN: $58,887
10%
50%
90%

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$13.97 - $58.88
(Median)
$14
$24
$59
MEDIAN: $23.00
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$33K$66K$99K
Salary
$40,258 - $87,610  
   
Bonus
$0.00 - $14,527  
Profit Sharing
$412.17 - $7,787  
Commission
$25,000  
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).
)
$40,080 - $96,999  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,049
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$20$40$60
Hourly Rate
$13.97 - $58.88  
   
Hourly Tips
$0.10  
Overtime
$14.19 - $52.11  
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
$0.00 - $14,527  
   
Commission
$25,000  
Profit Sharing
$412.17 - $7,787  
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).
)
$40,080 - $96,999  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 127
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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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For Finance & Banking Business Analysts, progressing to a Management Consultant role may result in a significant raise. On average, a Management Consultant can earn $93K annually. A common career progression for a Finance & Banking Business Analyst is to become a Senior Financial Analyst or a Senior Business Analyst. Compared to Finance & Banking Business Analysts, the first group earns $14K more on average, and the second group earns $24K more.

Business Analyst, Finance/Banking Job Listings

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Popular Employer Salaries for Business Analyst, Finance/Banking


Though lagging the field in terms of compensation — J.P. Morgan Chase & Co. (JPMCC) offers the lowest median salary at $63K — pay within the company still varies considerably between $40K and $106K.

Popular Skills for Business Analyst, Finance/Banking


Finance & Banking Business Analysts seem to require a rather large skill set. Most notably, facility with SAS, SQL, and Requirements Analysis are correlated to pay that is significantly above average, leading to increases of 23 percent, 13 percent, and 11 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Windows Operating System General Use, Microsoft Word, and Microsoft Access. Most people who know Microsoft Excel also know 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.


More years of relevant experience do not necessarily translate to higher paychecks. Salaries for the relatively untried average out to around $57K, but survey participants with five to 10 years of experience earn a significantly higher median of $68K. The average pay reported by folks with 10 to 20 years of experience is around $74K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Finance & Banking Business Analyst with more than 20 years of experience can earn $84K on average.

Pay Difference by Location

National Average: $60,609

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

For Finance & Banking Business Analysts, working in the bustling city of San Francisco has its advantages, including an above-average pay rate. Finance & Banking Business Analysts will also find cushy salaries in Washington (+31 percent), Boston (+28 percent), New York (+27 percent), and Houston (+18 percent). The lowest-paying market is Tampa, which sits 17 percent below the national average. A couple other locations with smaller-than-average paychecks include Minneapolis (14 percent lower) and Salt Lake City (12 percent lower).

Related Job Salaries

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Experience Affects Business Analyst, Finance/Banking Salaries




National Average
$61,000


Skills That Affect Business Analyst, Finance/Banking Salaries

SAS
up arrow 23%

SQL
up arrow 13%


Project Management
up arrow 4%

Financial Modeling
up arrow 4%

Document Review and Distribution
up arrow 3%

Business Analysis
up arrow 2%

Microsoft Office
0%

Data Analysis
0%

Financial Analysis
0%

National Average
$61,000

Document Preparation
up arrow 2%

Microsoft Excel
up arrow 3%

Microsoft Access
up arrow 4%



Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 216 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
10%
1-4 years
49%
5-9 years
24%
10-19 years
13%
20 years or more
4%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 81%
medical benefits
Vision: 67%
dental benefits
None: 9%
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