what is a graduate business analyst?
Your job is to help your employer improve productivity, solve existing business problems and achieve goals. A graduate business analyst works alongside business and data analysts to analyse issues that affect profitability. As a graduate business analyst, you check the financial information and company data to find loopholes in the business model that slow down production. You also ensure the company operates at an optimal level by identifying wastage and introducing technologies that boost productivity. After analysis, you provide recommendations to improve business processes, software and products.
Apart from analysing internal company data, you monitor market trends and provide feasible solutions to company problems. You also advise on the organisation's investments and the best time to sell company assets.
A career as a graduate business analyst is linked to information technology since you will rely on IT professionals' statistical expertise to analyse data and draw conclusions. You can work in various business sectors, from IT to manufacturing and retail. Most industries rely on your expertise to expand their production and boost efficiency. A graduate business analyst will have exceptional analytical skills and creative thinking to develop solutions for a range of business problems. You will also learn new analytical techniques.
Would working as a graduate business analyst suit your analytical skills and creativity? Then read on to find out what competencies and qualifications you need to thrive in a graduate business analyst role.
average salary of a graduate business analyst
According to ONS, a graduate business analyst receives a median compensation package of £25,000 per year, which translates to £12.82 per hour. In entry-level positions, a graduate business analyst receives an annual salary of £22,500. As you gain experience, you can become a junior business analyst with a salary ranging from £36,142 to £65,825 per year.
While many graduate business analysts aren't permanent or full-time employees, some companies offer benefits and allowances. For instance, you will receive medical insurance, transport and house allowance. You are also eligible for year-end bonuses and overtime pay for working extra hours.
how to increase your graduate business analyst salary
A graduate business analyst role is an entry-level position into a business analyst career, but your income increases as you learn the ropes and gain experience. For instance, your educational qualifications will determine your pay bracket. Apart from the mandatory bachelor's degree for the graduate programme, you can improve your salary with postgraduate qualifications or certifications. Having prior experience in related roles also boosts your earnings. Some locations are better for graduate business analysts. Working in London guarantees higher pay due to the high cost of living.
types of graduate business analysts
Graduate business analysts have varying skill sets that can fall into the following categories:
- IT graduate business analysts: as an IT business analyst, your focus is on the technical aspects of an organisation. You analyse the use of IT resources in business processes and recommend ways to improve them for better efficiency. You also identify business IT needs and create plans or strategies to improve software integration.
- data business analyst: a graduate business analyst can focus on business data analysis and become part of the team that develops ways to collect and analyse data for better interpretation.
- graduate business systems analyst: as a business systems analyst, you gather and analyse data from various systems. You also provide recommendations on areas of improvement.
graduate business analyst job description
As a graduate business analyst, you work with managers and company leaders to solve problems or develop efficiency strategies. Your solutions may include developing new products or introducing computer programmes.
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duties and responsibilities
The specific role of a graduate business analyst depends on the employer, but typical duties include:
- researching and documenting information: as a graduate business analyst, you need to understand the company's production process and all aspects. That means you should gather information from various departments to help you evaluate the process for costs and efficiency. Some of the information you will collect include sales revenue, expenses, debts and employee schedules.
- analysing data: your primary role is to evaluate the internal company data and identify inefficiencies in the business models. As a graduate business analyst, you will be familiar with statistical tools to help you compile the information for easy interpretation. When you identify the factors affecting the current business models, you can recommend solutions to improve business performance. The business analyst will approve your recommendations before implementation.
- acting as a liaison between stakeholders and management: as a graduate business analyst, you are responsible for liaising with various stakeholders during the development and implementation of new business models. You translate the business requirements to multiple departments to improve efficiency and promote organisational goals.
- forecasting market trends: as a graduate business analyst, you need to stay updated on market trends and predict the impact of implementing new business models. For instance, changes in a significant raw material price can slow down production and double expenses. Your recommendations would factor in the fluctuations in industry trends.
- designing new business models: you may be tasked with designing a new business model. Designing a business model requires analysing the current systems and technologies. If the current systems can perform better with a few tweaks, you will suggest upgrading them.
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work environment
A graduate business analyst can work in any industry, from technology companies to financial institutions and government agencies. Some graduate business analysts work in-house for a particular company, while others work in consultancy firms that serve many organisations. Typically, your work settings are in an office; you work on computers and collaborate with different departments.
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who are your colleagues?
As a graduate business analyst, you might work in various industries. That means you will have diverse colleagues, including data analysts, systems administrators and accountants. You may also work in close proximity to operations managers, business analysts, and IT managers, as well as other specialists such as project managers, production managers and human resource managers.
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work schedule
The work schedule of a graduate business analyst varies depending on the employment terms. For instance, if you are employed full-time, you have to work 39 hours a week. Your workday is from 9 am to 5 pm, with regular overtime work for evenings. You also occasionally work weekends. In part-time roles or short-term contracts, you work half a day, which can be morning or afternoons. Sometimes, you travel to meet clients in off-site locations or attend company events.
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job outlook
Graduate business analysts usually have careers opportunities in various business sectors. A graduate business analyst can become a junior business analyst and progress to senior levels. Graduate business analysts may also specialise in business intelligence analysis, data analysis or IT business analysts roles. When you gain a few years of experience, you can move to managerial positions or become a consultant.
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advantages of finding a graduate business analyst job through randstad
Finding your graduate business analyst job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as a graduate business analyst is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
education and skills
You can become a graduate business analyst through the following routes:
- university: any degree that teaches analytical skills can help you start your career as a graduate business analyst. However, most employers look for graduates in business management, business information systems or computer science. You need two or three A-Levels for degree programmes, while postgraduate studies require a degree. After the undergraduate training, you could consider an internship or join a work placement programme to improve your skills.
- apprenticeship: when you complete a business analyst higher apprenticeship or project management degree apprenticeship, you can become a graduate business analyst.
skills and competencies
As a graduate business analyst, you require the following skills:
- problem-solving skills: your main role is to identify the practices in business strategies that don't perform to full potential. You will evaluate the problems and formulate practical solutions. That means you will have the creative problem-solving skills to make substantial contributions during brainstorming sessions.
- communication skills: a graduate business analyst will translate ideas, data and findings from technical language to simple language that stakeholders understand. Exceptional communication skills also help you liaise with clients to identify business requirements.
- analytical skills: you will have the analytical skills to evaluate large amounts of data and develop ideas to fix problems.
- computer skills: as a graduate business analyst, you will have the computing skills and knowledge to help you understand how technical systems work. You also use computerised statistical methods to analyse data.
FAQs
FAQs about working as a graduate business analyst
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what does a business analyst do?
A business analyst evaluates business processes and work models to determine inefficiencies that need improvement. They also analyse company data and provide recommendations to improve performance and productivity.
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is a business analyst a high paying job?
Working as a business analyst is a promising career with an attractive salary. You can boost your salary by increasing your experience and skill level.
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how much does a business analyst make?
When starting your career as a business analyst, your salary is £22,000 annually. As you gain experience, your compensation package increases to £55,000 per year.
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is a business analyst a good career?
Business analysts help companies grow and achieve their goals. They also improve efficiency and reduce wastage in production.
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is a business analyst an it job?
While the work of a business analyst is closely related to IT, it is not an IT job unless a graduate business analyst chooses to specialise in information technology.
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how do I apply for a graduate business analyst vacancy?
Applying for a graduate business analyst job is easy: create a Randstad profile and search our job offers for vacancies in your area. Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here!
