Business analysts are incredibly valuable to many modern companies, with a variety of industries seeking to improve their working processes. A business analyst will need to be knowledgeable in both IT and business, as it is this combination of technical knowledge and business savvy that enables the analyst to implement systems that will have a positive impact on activities.
As well as being highly skilled, the business analyst also takes on a lot of responsibility. This means that a business analyst is also typically rewarded with high salaries. The average salary within the UK for this role is currently at £47,500, and therefore represents a very lucrative career. Typically, the IT business analyst job is reached through initial experience building in either IT or business, before the two are then combined.
It is, therefore, a good idea for anyone seeking a business analyst role to develop their skills in both areas. For example, those with a career in IT should look to develop their business skills in their spare time, and vice versa.
The most experienced business analysts can look to salaries in excess of £70,000 once they take on more senior positions.
Which locations offer the best salaries for IT analysts?
As is common amongst most professions, the highest-paid business analyst salaries can be found in London. (It's worth noting, as ever, that a role in London will lead to either higher living costs or commuter fees). Other standout locations for business analysts include Yorkshire, Berkshire, Surrey, Hertfordshire and Leeds.
How can an IT business analyst boost their salary?
Both those who already have experience as a business analyst, as well as those seeking to obtain the role, can increase their chances of a higher salary by studying for qualifications specifically tailored to the role. There are a number of qualifications and training courses that are available right now, including a Certification of Competency in Business Analysis (a CCBA), a Certified Business Analyst Professional (a CBAP), a Diploma of Business Analysis and a Business Process Modelling Notation (a BPMN).
It is also, of course, possible for a business analyst to request further training at their current place of work. All employers should be happy to help their employees develop, as it enhances the reputation of the company itself. As well as this, it demonstrates to employers that the applicant has a real passion and enthusiasm for the position and that they are dedicated to increasing their skills. This will make employers more likely to consider that applicant for a position should one come up.
The other main option for business analysts seeking to increase their salary is to consider contracting and freelance work. Because there is no company taking a cut, contracting can lead to a strong increase in payment and is a legitimate option. Businesses will sometimes pay up to a £400 daily rate for contractors. Of course, as with all freelance work, there is the inherent risk of the work not being constant.