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 — approximately two-fifths on average. In the world of Finance & Banking Business Analysts, overall income ranges from $40K near the bottom to $97K at the top; this can include more than $15K from bonuses and more than $8K from profit sharing in exceptional cases. The most influential factor affecting pay for this group is geography, though experience level and the individual firm have a (lesser) impact as well. The majority of Finance & Banking Business Analysts claim high levels of job satisfaction. A large number report receiving medical coverage from their employers and most collect dental insurance. Men account for the majority of Finance & Banking Business Analysts who responded to the questionnaire — 64 percent to be exact. The data for this synopsis comes from respondents who took the PayScale salary survey.

$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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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. Typical career progression for a Finance & Banking Business Analyst involves becoming a Senior Financial Analyst or a Senior Business Analyst, roles that pay $14K more and $24K more on average.

Business Analyst, Finance/Banking Job Listings

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Popular Employer Salaries for Business Analyst, Finance/Banking


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, 13 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.

Pay by Experience Level for Business Analyst, Finance/Banking

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


Finance & Banking Business Analysts with a lot of experience do not necessarily enjoy more money. Those in the early stages of their career can expect to make around $57K; however, individuals with five to 10 years of experience bring in $68K on average — a distinctly larger sum. Finance & Banking Business Analysts claiming one to two decades of experience make an estimated median of $74K. As Finance & Banking Business Analysts reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $84K.

Pay Difference by Location

National Average: $60,609

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

Finance & Banking Business Analysts will find that San Francisco offers an impressive pay rate, one which exceeds the national average by 35 percent. Finance & Banking Business Analysts will also find cushy salaries in Washington (+31 percent), Boston (+28 percent), New York (+27 percent), and Houston (+18 percent). Tampa ranks last in the field for pay, reporting salaries 17 percent below the national average. Employers in Minneapolis and Salt Lake City also lean toward paying below-median salaries (14 percent lower and 12 percent lower, respectively).

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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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