Like any other industry, the remuneration of a Business Analytics professional primarily depends on the following factors:
Earning a degree from a Tier 1 College could land up a higher salary as compared to the relatively lower tiers. Similarly, the level of education i.e. whether you have pursued a Master’s degree or a PhD./ Doctoral degree will command a better price in the market for you.
For instance: the average starting salary for Business Analytics graduates of Carnegie Mellon University is $103,000 as compared to the typical Purdue University Business Analyst salary of $60,062 per year. Business Analyst salaries at Purdue University can range from $47,188 - $83,615 per year.
Due to the cost of living across cities and countries, obviously, the geographical location of your posting impacts your salary.
For instance: Berlin and Munich are among the top cities with good demand for business analytics professionals as compared to the other cities in Germany.
The years of experience are another factor that is essential for determining how high up the salary ladder you will be when getting a job or changing companies. Typically, a fresher fetches a lower salary as compared to a professional with decent years of experience.
There is a direct correlation between the GMAT scores and the base salary. The better your GMAT score, the better your chances of bagging a higher package
Some of the best destinations for Business Analysts include Canada, the USA, the UK, Australia, Ireland, New Zealand, etc.
A Business Analyst in Canada can earn an average of INR 42 Lakhs annually. This may however vary depending on various factors like Work Experience, Education, etc
The USA is among the highest paying countries for Business Analysts. A Business Analyst can earn an average of INR 63 Lakhs annually in the USA.
Business Analysts in the UK can earn an average of INR 39 Lakhs per annum.
Australia is one of the places which offer high salaries for Business Analysts with an average salary of INR 52 Lakhs per annum.
Business analysts in Singapore can earn an average of INR 30 Lakhs per annum.
From Customer Relationship Management to Operations, from Research to Manufacturing, the use cases of Analytics and Data have left no stone unturned in leaving its impact, not just in India but across the globe.
For instance: Big giants and MNCs like Morgan Stanley use Financial and Accounting Analytics to maneuver the financial planning insights, analyze retail spending, risk management, etc to make informed financial decisions.
CRM Analysts usually play around the customer buying patterns, bucket cart data, etc. As per Indeed, the average salary of a Customer Relationship Management/ CRM Analyst is $105,831.
By measuring the metrics of the advertising campaigns, social media trends, etc, Marketing professionals globally drive their Marketing and Advertising strategies on the premise of the insights extracted from the analytics.
The base salary for a Marketing Analyst is $62k per year in the United States.
As per the Indeed reports, a well-known company Ecolab pays a base salary of $110,000 p.a. In the United States.
Operations Analysts in the United States make an average salary of $68,000 per year, and it could go as high as $96,000 per year if you double down your experience.
A Human Resource Analytics professional in the United States gets a remuneration of $100k per year salary package on average.
While on the other hand, the salary of an HR Analyst in Europe ranges from somewhere between £25k to £43k.
Average Salary Hike
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