A Business Analyst helps the people involved in the business analyze the products, processes, systems, and services. This can improve the current processes and let the company make profitable decisions based on data analysis and thoughtful insights. A Business Analyst also helps organizations document their business processes by accessing the business model and integrating it with technology. Knowing the average salary of Business Analysts in India is essential if you wish to pursue a career in this field.
So what is a Business Analyst? Business Analysts have emerged as a crucial part of any business scenario. They play a significant role in improving the financial prospects of any organization. They communicate with stakeholders to analyze and validate the requirements for change. They guide the organization on the right path to efficiency, profitability, and productivity.
A Business Analyst understands the primary objective or goal of the business and determines the best possible ways to improve the business’s existing processes. They identify steps to support and implement new features. A Business Analyst thus is the backbone of any company’s success, and therefore their job profile is challenging and highly paid.
The Business Analyst starting salary in India depends on various factors. The size, the organization’s reputation, job position, company location, educational qualification, and experience are key factors that a recruiter considers.
If the candidate hails from a reputed B-school, they earn more than their counterpart, and someone with prior work experience gets paid more than a fresher.
In this section, we discuss the average salary that Business Analysts earn in India based on their position level, the organization they work for, and the location where they are employed.
The best-paying companies in India offer an annual package of over 7 lakhs to freshers. You can expect to get anywhere between 5 to 7 lakhs if you start as a Business Analyst. You can get hired by MNCs, consultancies, IT companies, e-commerce firms, etc.
The beginning salary of a Business Analyst in India is somewhere between 3 to 7 lakhs. The average, however, is around five lakhs. These are for freshers with less than 1 year of experience. The lowest band is for start-ups and small companies that are not very well established. With a few years of experience, a Senior Business Analyst’s salary in India can be around nine lakhs. The salary structure increases with experience, and a Business Analyst with over 20 years of experience will easily draw a salary of over 20 lakhs.
The location also plays a key role in deciding the BA salary in India. Pune and Bangalore are the highest paying cities, paying around 15% over the national average. Noida, Hyderabad, and Chennai are the slowest payers, paying about 5% or less than the national average.
The salary of a Business Analyst in India is decent, and the IT and E-commerce companies pay excellent compensation to deserving candidates. If you are from reputed B-schools, you will definitely have an edge. Candidates who have completed some advanced certification courses in Business Analysis bag better and higher-paying jobs.
Data is everywhere. From basic number crunching to intricate and complex formulas, data offers businesses of every size information that can let the business track sales, improve performance, introduce new services and products, and make several completely data-driven decisions. Business Analysts analyze big data for the business to use, and this is where they come into the picture. Business Analysts kickstart their careers with an entry-level position and a fresher Business Analyst salary. A Business Analyst can achieve glorious heights with the right skill set and attitude towards work.