Business Analyst, Finance/Banking Salary

Median pay for Finance & Banking Business Analysts in the United States is around $58K per year. In the world of Finance & Banking Business Analysts, total cash compensation can vary between $39K and $95K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $12K and $7K, respectively. Geographic location is the main element affecting pay for this group — experience level and the individual firm are driving factors as well. Job satisfaction is reported as high by the vast majority of workers. A large number enjoy medical while most get dental coverage. Vision coverage is also available to more than half. Male Finance & Banking Business Analysts who responded to the survey are more common than women; more than half (64 percent) are men. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$39,682 - $85,943
(Median)
$40K
$58K
$86K
MEDIAN: $58,335
10%
50%
90%

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$13.11 - $55.00
(Median)
$13
$22
$55
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
$39,682 - $85,943  
   
Bonus
$0.00 - $12,102  
Profit Sharing
$650 - $6,768  
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).
)
$39,426 - $95,178  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 1,155
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$19$38$57
Hourly Rate
$13.11 - $55.00  
   
Overtime
$13.32 - $53.02  
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 - $12,102  
   
Commission
$0.00 - $4,069  
Profit Sharing
$650 - $6,768  
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).
)
$39,426 - $95,178  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 134
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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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Finance & Banking Business Analysts may experience a large salary bump if they progress into a role such as Management Consultant. The latter position pays an average of $93K annually. 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


The consistently lowest paying firm on the list is J.P. Morgan Chase & Co. (JPMCC), where the median salary is just $60K. However, employees at the top of the pay scale do tend to do well, earning around $105K.

Popular Skills for Business Analyst, Finance/Banking


Survey results imply that Finance & Banking Business Analysts deploy a deep pool of skills on the job. 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 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 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.


Experience and pay tend to be weakly linked for Finance & Banking Business Analysts — those with more experience do not necessarily bring in higher earnings. 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 $68K. Finance & Banking Business Analysts bring in $78K after working for 10 to 20 years. Individuals who report more than two decades of experience seem to make about the same as folks in the 10-to-20 year range.

Pay Difference by 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 New York (+29 percent), Washington (+17 percent), Boston (+17 percent), and Cleveland (+8 percent). Tampa is the lowest-paying area, 17 percent south of the national average. Two other places where employers offer below-median salaries are Minneapolis (13 percent less) and Columbus (12 percent less).

Related Job Salaries

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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 2%

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 279 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
9%
1-4 years
49%
5-9 years
26%
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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