Business Systems Analyst Salary
Business systems analysis is essential to any business wherein decisions involve technology. The business community and technology teams have a business analyst between them who tackles functional and technical issues regarding business issues and also works towards optimizing and increasing efficiency. Business systems analysts ensure that the proposed system, hardware and software integrate fruitfully leading to growth of the particular business unit. They not only gather business needs but also focus on improving business processes with the use of technology. They act as consultants to business units and play a crucial role in deciding between “buy vis-à-vis build”.
A business systems analyst typically needs an associate’s degree and around 1 – 2 years of experience in the field. The work of a business systems analyst revolves around ideas. He should be methodical and agile in being able to quickly grasp concepts and translate them into functional specifications. He needs to be an effective communicator; both verbal and written. Multi-tasking is also expected of him. He should have a sound understanding of IT terminologies since his interactions involve both the business and technical teams. Knowledge and experience in software systems, project management, and technical architecture is definitely a plus. Apart from these it is certainly desirable of him to have leadership and team-building qualities to enable him to handle inter- departmental issues.
In the United States the median expected salary for a business system analyst is $49,484. The average nationwide salary for business systems analysts is 20% higher than average salaries for all job postings.
The median salaries for business systems analysts as per the years of experience are given below:
Less than 1 year: $40,965 – $55,084
1 – 4 years: $46,063 – $61,549
5 – 9 years: $56,645 – $78,403
10 – 19 years: $61,925 – $89,032
More than 20 years: $67,856 – $90,424
The average median salaries for business systems analysts as per the type of industry are given below:
Information Technology: $65,223
Financial Services: $70,429
Healthcare: $64,866
Insurance: $63,774
Banking: $65,666
IT Consulting: $66,120
Software Development: $64,672
Thus, factors such as type of industry, number of employees, employee credentials and years of experience dramatically affect the salary of a business systems analyst.
The field of business systems analysis has shown significant growth over the last decade. There was a 45% growth in jobs for analysts in the period from 1990 to 2005; with new jobs being created every year. There is an expectation of growth being more than 27% through 2014. There will also be additions due to analysts quitting or starting off on their own. As technology makes new strides and newer computer applications are developed, the demand for business systems analysts will grow steadily.
A business systems analyst needs around 1 – 2 weeks of training each year. Also continuous study and skills upgradation towards understanding new trends in IT is a must. He needs to keep his technical knowledge and skills abreast of modern developments. A successful business analyst with business analysis training as well as project management, leadership, communication, team-building and business process management training will never have a dearth of opportunities in this dynamic field.