According to Zippia, there are over 251,404 business analysts in the United States. Seventy-one percent of these professionals have a bachelor’s degree, while seven percent have an associate degree. In our guide, we take a look at the best companies for business analysts. These top companies hiring business analysts have significant benefits, sizeable pay, and excellent company cultures.
Companies rely on business analysts to help them make informed business decisions. Through their skill in statistical analysis, professional business analysts can make accurate predictions to improve profitability for business owners. Find out what these highest-paying business analyst companies pay someone for driving profitability into their business.
What Is a Business Analyst?
A business analyst is a professional that uses data to help businesses make informed decisions that will lead to effective business solutions. The business analyst collaborates with the finance and IT team. Most businesses rely on them to help in budgeting and forecasting, financial modeling, variance analysis, pricing, and reporting.
As a business analyst, you will need experience in SQL and Excel to analyze large business data sets to gain business knowledge. You will also need an understanding of enterprise architecture. Most business analysts have experience in stakeholder analysis, cost-benefit analysis, business structure, and process modeling. Other essential skills you need are organization skills, attention to detail, and analytical skills. This career path differs from a data analyst.
How to Get a Business Analyst Job
Getting a business analysis job at a top organization can be challenging. The highest-paying business analyst companies receive a plethora of applications from professionals around the world. Below is a list of steps you can take to help you land a business analyst role.
- Attend a coding bootcamp. A coding bootcamp will help you learn key concepts in business analytics. You will be able to familiarize yourself with SQL and attend a data analytics or data science bootcamp to learn about business analytics tools, statistical languages, and software. A significant advantage of a bootcamp is the competitive curriculum and opportunity to network.
- Pursue a bachelor’s degree. As much as a bootcamp can help you land a job as a business analyst, there are more opportunities available to business analysts who have an undergraduate degree. If you want a competitive edge in the industry, you will need a four-year degree in business administration to help you master business models, business systems, and best practices.
- Seek an internship or apprenticeship. Gaining real-world job experience is crucial before entering the job market. There are many business analysis internships that will help you learn business processes, skills, and best practices. These opportunities often lead to full-time job positions.
- Get a business analyst certification. A wide range of business analysis certifications will help you prove to potential employers that you can complete specific tasks. Among others, look into acquiring IIBA Entry Certificate in Business Analysis (ECBA), IIBA Certification of Competency in Business Analysis (CCBA), or IIBA Agile Analysis Certification (AAC).
- Update your resume. An effective resume and cover letter acts as a gateway for employers to look at your abilities and experience. Ensure both documents are updated and include all of the necessary information.
Top 10 Highest-Paying Business Analysts Companies
| Company | Salary for Business Analyst |
|---|---|
| Cisco Systems | $119,381 |
| Accenture | $104,448 |
| Capital One | $102,374 |
| IBM | $95,155 |
| Bank of America | $85,154 |
| Deloitte | $83,776 |
| Citi | $73,928 |
| JP Morgan | $72,600 |
| UnitedHealth Group | $68,510 |
| Wells Fargo | $64,760 |
Cisco Systems
Cisco Systems Inc. is an American corporation responsible for developing, manufacturing, and selling networking hardware, software and telecommunications devices. Based in San Jose, California, the company deals with domain security, energy management, and the Internet of Things. Webex, Jabber, Jasper, and OpenDNS are some of the most reputable Cisco products.
What Does Cisco Systems Pay Its Business Analysts?
According to Indeed, Cisco Systems pays its business analysts $119,381 per year, factoring in bonuses and additional compensation. Glassdoor indicates that a business analyst’s salary starts at $47,466 and can go up to $152,323, depending on experience and qualifications.
Cisco Systems Reviews
According to Indeed, Cisco Systems Inc has a four out of five-star rating. A former employee states that good benefits, technologies, and better opportunities are pros of working at Cisco. Another employee points out that Cisco is an excellent place to work as it provides annual bonuses and additional days off.
Accenture
Based in Ireland, Accenture provides information technology and consulting services to clients worldwide. It is well-known for its hand in the cloud, digital, and security sectors. The company has 674,000 employees who work together to create 360-degree values worldwide.
What Does Accenture Pay Its Business Analysts?
Accenture pays business analysts $104,448 annually, according to Glassdoor. Entry-level positions start from $28,214, while experienced professionals receive an average of $186,614. Once you factor in additional compensation and bonuses, you will earn an average of $105,061 per year.
Accenture Reviews
Indeed reviews reveal that former and current employees like Accenture’s collaborative environment, flexibility, and opportunity to learn new things. Collectively, reviewers gave the company four out of five stars.
Capital One
Capital One is a financial corporation that deals with savings accounts, auto loans, credit cards, and banking. The bank has over 755 branches across the United States, United Kingdom, and Canada. Aside from becoming a business analyst, you can become a UX/UI designer, business development representative, automation test engineer, lead UI architect, or sales manager.
What Does Capital One Pay Its Business Analysts?
According to Indeed, Capital One pays its business analysts $102,734 per year. Sixty-nine percent of employees say they are satisfied with their pay.
Capital One Reviews
Glassdoor employees gave Capital One 4.2 out of five stars as the company offers excellent work-life balance and great benefits. Additionally, 83 percent of employees would recommend Capital One to a friend, and 94 percent approve of the CEO.
IBM
IBM is one of the biggest names in computer hardware and software. The company provides hosting, consulting, and computer services to its clients. Given the vastness of the company, there is a range of opportunities available for different professionals.
What Does IBM Pay Its Business Analysts?
According to Glassdoor, IBM pays its business analysts $95,155, annually. The site indicates that a business analyst has a high annual salary of $198,730. Entry-level business analysts at the company receive an average of $44,111, annually.
IBM Reviews
Eighty-one percent of IBM employees would recommend the company to a friend, according to reviews on Glassdoor. The company’s flexible working hours and balanced work environment lend to the four out of five-star rating.
Bank of America
Bank of America is an American-based investment bank with headquarters in Charlotte, North Carolina. The company acts as a holding company of financial services and serves everything from small businesses to established corporations. The bank’s extensive services have placed Bank of America at the forefront of wealth management.
What Does Bank of America Pay Its Business Analysts?
According to Glassdoor, Bank of America pays business analysts $85,154, annually. The company pays experts in the field an average of $159,834. The lowest business analyst salaries at Bank of America are $41,423, per year.
Bank of America Reviews
Due to employee benefits and great work culture, Bank of America earned a four out of five-star rating on Glassdoor. Seventy-eight percent of the reviewers would recommend the corporation to a friend.
Deloitte
Deloitte is a leading provider of financial advisory, consulting, and tax-related services across multiple industries. Deloitte provides professional growth opportunities for Adobe developers, Agile business analysts, and artificial intelligence engineers.
What Does Deloitte Pay Its Business Analysts?
Deloitte pays its business analysts $83,776 per year, according to Glassdoor. With additional compensation and bonuses, you can expect to earn an average salary of $84,462, annually. The salary depends on education, skills, and experience levels. The highest salary a business analyst can receive at Deloitte is $125,658, while the lowest salary is $53,554.
Deloitte Reviews
With a four out of five-star rating on Glassdoor, Deloitte reviewers point out the company’s great culture and decent pay. Ninety-three percent of the employees approve of the CEO. Working at Deloitte is an overall enjoyable experience.
Citi
Citi is a world-renowned company that provides financial services to boost growth. The consumer bank caters to over 110 million consumers across the globe and employs 200,000 people.
What Does Citi Pay Its Business Analysts?
According to Glassdoor, Citi pays its business analysts $73,928, annually and $76,425 when including bonuses and additional payments. The salary ranges from $38,246 to $305,849, depending on various factors.
Citi Reviews
Glassdoor features multiple Citi reviews from employees. According to the site, 76 percent of Citi employees would recommend the company to their friends. They also reported a good working environment and great benefits.
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JP Morgan
JP Morgan is an investment bank based in New York that provides investment banking, asset management, and treasury services. The company has an extensive portfolio with multiple job opportunities. Other jobs you could apply for at JP Morgan include a risk manager, data analyst, business manager, junior research analyst, or software engineer.
If your goal is to land a job at this company, you may want to consider one of the best bootcamps in New York. Attending a data analytics bootcamps in this city will help you acquire the skills that New York-based companies like JP Morgan are looking for in their business analysts.
What Does JP Morgan Pay Its Business Analysts?
JP Morgan pays its business analysts an annual salary of $72,600. The highest-paid business analyst earns $200,618, annually, while the lowest-paid professional earns $43,046, per year. On average, business analysts’ salaries with additional compensation and bonuses total $74,113, annually.
JP Morgan Reviews
According to JP Morgan reviews on Glassdoor, 80 percent of employees would recommend the company to friends, and 91 percent approve of the current CEO. A former employee says some of the pros of working at JP Morgan include its good name in the industry, good pay, and competitive benefits.
UnitedHealth Group
This American healthcare and insurance company has been in operation since 1977. Currently, there are job opportunities in clinical, consulting, corporate services, customer service, marketing, and technology departments.
What Does UnitedHealth Group Pay Its Business Analysts?
UnitedHealth Group pays an annual salary of $68,510 to its business analysts, according to Glassdoor. With additional compensation and bonuses, you will earn a salary of $69,644, annually. The lowest business analyst salary at the company is $35,570, while the highest annual salary is $125,801.
UnitedHealth Group Reviews
Top UnitedHealth Group reviews on Glassdoor indicate a great work-life balance and flexibility. Current and former employees gave UnitedHealth a three out of five-star rating.
Wells Fargo
Wells Fargo is a reputable provider of banking and financial services. The company also has a hand in wealth management, investment banking, and loans and credits. There are open job positions for relationship managers, customer service representatives, software engineers, and systems operations engineers.
What Does Wells Fargo Pay Its Business Analysts?
According to Indeed, Wells Fargo pays its business analysts $58,022, annually. This is 26 percent below the national average. However, you can increase your salary potential by acquiring more skills, education, or experience. Some of the highest-paying cities are Houston, New York, and Boston, where the salary is $90,258 per year.
Wells Fargo Reviews
Wells Fargo reviews on Glassdoor indicate that the company has excellent benefits and an exceptional work-life balance. A current employee describes a positive work culture and praises the company’s focus on employee development.
Why You Should Become a Business Analyst in 2023
You should become a business analyst in 2023 because of the range of opportunities. You can land a job in healthcare, finance, manufacturing, or sales. The skills of a business analyst are crucial for businesses to survive and remain competitive. You’ll also be well-compensated for your expertise.
Best Companies for Business Analysts FAQ
Business analysts can have a successful career in IT, finance, accounting, marketing, and management positions. There is job growth potential if you have the right set of skills.
The best skills for business analysts to have are statistical analysis, data mining, data visualization, programming, and business intelligence. It’s good to develop these technical skills, alongside soft skills like communication, interpersonal, and organizational skills.
No, SQL is not necessary for most business analyst positions. However, acquiring SQL skills will give you a competitive edge. Most professionals have a basic understanding of SQL. It’s important to read the job description before starting the application process.
Yes, a business analyst career is worth it. The industry attracts great pay and benefits. If you master business analytics concepts, you can easily transition to becoming a project manager, product owner, or functional consultant.
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