Business Analyst Salary in India For Freshers & Experienced
Business analysts are the lifeblood of any organization. And, if you are on the lookout for Business Analyst Salary in India then it is a complete salary guide for people who want to become Business Analysts.
Almost everyone is doing business in the world and for sustainable growth, every company has to perform its own version of business analyst in terms of many factors. A business analyst is a person whose main work is to analyze the company and generate more business opportunities.
If a business analyst is unhappy about his job then the salary may be the main reason. The truth is that most of the employees have the potential to earn top salaries but they don’t know how to tap into the potential.
In this article, we are discussing the Business Analyst Salary for Fresher & Experience in 2021.
- Entry Level Business Analyst Salary in India
- An entry-level business analyst in the information and technology sector with less than one year of experience can expect to earn an average salary approximate of Rs. 3.5 lakh annually. This estimation is based on a survey conducted on 222 salaries and it includes tips, bonuses, and overtime pays.
And, a business career analyst with up to 4 years of experience earns an average salary of Rs. 5.5 Lakh. And, it is based on the survey conducted on 1544 salaries.
Mid Career Business Analyst Salary in India
- A mid-career business analyst in the Information and Technology Sector with 5-10 years of experience earns an average salary of Rs. 8.5 lakh annually. And, this estimation is based on a survey conducted on 935 salaries.
Experienced Business Analyst Salary in India
- An experienced business analyst in the Information and Technology Sector with 10-19 years of experience will earn an average salary of Rs. 12.5 Lakh annually. And, this estimation is based on a survey conducted on 245 salaries.
Higher Experience Business Analyst Salary in India
- The business analyst in their late-career in Information and Technology Sector with 20 years or higher experience will earn an average of Rs. 17 lakh annually. This estimation is also based on a survey conducted in the Indian corporate sector.
Who are Business Analysts?
If we are discussing the Business Analyst Salary then we must also understand what exactly business analysts do. Let’s define the work of a business analyst.
A business analyst acts as a bridge between business organizations and profitability. They contribute actively for the sustainability of the business domain.
Since traditional methods are not sufficient to catering the dynamic needs of modern business analysts. So, the business analysts come to the rescue and cater the needs.
Business analysts have skills, agility, and sense for innovation to guide business organizations in improving their processes quality of services while ensuring the timely dispatch of client’s demands.
What are the Responsibilities of Business Analysts?
The fundamental responsibilities of business analysts are to analyze and validate the changes in requirement to process the business and information system and policies and communicate with the higher authorities.
- Business analysts interact with business partners and users regarding changes in work processes and policies that help enhance efficiencies and value to the organization.
- They work closely with the IT and Finance Team to design and implement new models of business. These new business models will help to improve productivity and optimize cost.
- A business analyst also checks what is beast feasible for the company in terms of technology and finances.
What is the Job Description of a Business Analyst?
The job description of a business analyst includes the following:
- Creating Detailed Business Analysis.
- Drafting Problems, Opportunities, and Solutions.
- Explaining Business Requirements and Reporting to Higher Authorities.
- Budgeting and Profit Forecasting.
- Planning and Monitoring the Business Process Closely.
- Analyzing Different Options for the Business.
- Calculating Pricing and Profits.
- Reporting everything in details
Although it is not necessary to have an IT Background but a business analyst must know the basic functions of an IT system. All they need is a strong and in-depth understanding of the business domain.
And previous knowledge of budgeting, forecasting, and financial contribution are highly creditable. Also, it is good to be well-versed in regular reporting requirements.
While a Bachelors’s Degree in Business Management for entry-level business analysts is enough. But, the mid or senior-level positions demand a Masters’s Degree in Business Management.
To Sum Up
So, this research was all about the Business Analyst Salary in India for Fresher and Experience and the related topics that you must know before going into the details of salary.
And, the surveys that we have mentioned in our study were based on several factors like company size, company’s popularity, location, job position, education qualification, and experience.
Usually, the popular and large companies pay higher and other candidates from reputed training institutes to earn more than the others.
The package of Business Analyst Salary in India is also depending on the location of your company. For example, Pune and Bangalore companies offer more than the average salary. And, Noida, Chennai, and Hyderabad record the lowest level of Business Analyst Salary.
Also, it is true that regardless of your degree and institutions, the more you experience and generates profits, the higher will be your market value.