Functional Analyst Salary
Job Description for Functional Analyst
The main responsibilities of a functional analyst include conducting analyses, measuring various areas of performance, and developing process improvement initiatives. Functional analysts may also be required to assist in reviewing or creating documentation pertaining to technical fields.Read More...
Although much of the functional analyst's work is performed alone, communications and presentation skills are needed to train and inform other staff. The analyst also spends a great deal of time interacting with customers, gathering and providing detailed technical information. Thus, leadership skills and multitasking capabilities are necessary.
Functional analysts must be proficient in analyzing and understanding highly technical information, particularly in areas of business and project planning. Experience in TRIAD implementation, banking, and FICO tools may be required; if not, regardless, those skills are highly beneficial. A bachelor's degree in finance, business administration, technology management, or other related quantitative fields of disciplines are usually required.
Advanced knowledge of the latest banking technology is always a plus, and the ability to operate basic office software such as the Microsoft Office suite. An individual in this position must be detail oriented, self-motivated, and willing to motivate others with strong interpersonal skills.
Functional Analyst Tasks
- Coordinate and participate in feasibility studies and implementations.
- Formulate and define system scope and objectives based on user needs.
- Analyze business and user needs, document requirements and translate into proper system requirements specifications.
- Document requirements and specifications in accordance with program and enterprise level standard operating procedures.
Functional Analyst Job Listings
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Popular Employer Salaries for Functional Analyst
Caci International Inc offers the highest compensation with a median salary of $63K.
Popular Skills for Functional Analyst
Functional Analysts generally report applying a varied skill set to their work. Most notably, facility with SAP Sales and Distribution, Project Management, and SAP Enterprise Resource Planning (ERP) are correlated to pay that is significantly above average, leading to increases of 39 percent, 33 percent, and 11 percent, respectively. Microsoft Excel and Data Analysis as skills, however, tend to be associated with significantly smaller paychecks. Most people who know Business Analysis also know Oracle eBusiness Suite.
Pay by Experience Level for Functional Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. The average beginner in this position makes around $60K, but folks who have been around for five to 10 years see a markedly higher median salary of $83K. The average pay reported by folks with 10 to 20 years of experience is around $93K. Professionals who have racked up more than two decades of experience enjoy comfortable salaries; at this stage, median wages are a cushy $111K.