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Junior Business Analyst Salary

Junior Business Analyst Salary

Business analysts form an integral part of any organization. This article will focus on the description and salary of a junior business analyst.
Charlie S
Junior business analysts are recruited in large numbers in today's corporate world to improve the functioning and efficiency of organizations. They have openings in a variety of industries and due to growing demand, the salary has seen a growing trend. In the next section, we shall first understand the job and duties of a junior business analyst before we move on to their earnings.

Duties of Junior Business Analysts
  • Junior business analysts are expected to assist senior level business executives in overcoming the challenges in business operations.
  • For rendering this service effectively, they need to spend a lot of time searching and interpreting business related information.
  • They work on clients' projects and are responsible for project planning, testing, programming and designing.
  • Providing clients with complete assistance in new software implementation and structural designing for the company are some more key aspects of this job.
  • Detecting faults in strategies and planning for business expansion are also a part of the job.
The job of a junior analyst does not end here. He is expected to prepare detailed reports which are generally based on:
  • The user expectations and behavior
  • Company performance
  • Employment rates
  • Total expenses on projects
Such useful reports are useful to the senior analysts in decision-making process. Some junior business analysts are also required to prepare documentation for customer requirements and structure of the organization.

Requirements to be a Junior Business Analyst
  • Possessing business sense and analytical skills are a must for becoming a junior business analyst.
  • Most companies require their candidates to have a Bachelor's degree in finance/business administration/accounting for this position.
  • An MBA in finance or masters in economics, statistics or information technology can help you get jobs in top-notch companies.
  • Business analysts need excellent communication skills, people management abilities, ability to work in a team and hardworking ability.
  • Computer and mathematical skills are required to perform well in their daily tasks.
Salaries for Junior Business Analysts

The junior business analyst salary range largely depends on many factors which have been explained below.

Institute: Candidates passing out of premier institutes get the best placements as compared to the normal colleges.

Graduation Scores: High graduation scores are an indicator of academic excellence, practical knowledge and assures companies that you are an industry ready professional. So, they have a direct relation to the salary package offered.

Level of Experience: Experience is always stated in a candidate's resume. Generally, firms would want to hire candidates with one to three years experience in business management.

Type of Employer: Multinational corporations offer a much higher pay scale as compared to local companies.

Location: Salaries are around 30 - 45% higher in metropolitan cities as compared to small cities.

Skills: Business management, computing, economic analysis and team leading skills are required for this position.

The average salary of a junior business analyst can be around $70,000 per year in top companies. Most start off with salaries ranging between $45,000 to $50,000 per year. On the upper end, the salary can touch $65,000 per year. Apart from the monthly salary, analysts are known to receive attractive bonuses, incentives and fast promotions, depending on the organization they work for. The US Bureau of Labor Statistics expects this pay scale to rise, as multinational companies are expected to make more profits in the coming quarters On becoming a senior business analyst, they can expect a huge pay hike and more responsibilities. Deserving candidates can even rise up to the position of director of finance in an organization.

Careers in business administration is, and will always be, in demand due to rising business activities. So, there will always be a scope for qualified candidates to enter lucrative job markets across the globe and earn well.