Explore the benefits of pursuing a career as a Business Analyst, including its high level of independence, opportunities for professional growth, and strong job market. Learn about the roles and responsibilities of Business Analysts, their direct impact on organizational success, and the potential for good pay.
- Business Analysts play a crucial role in improving organizational procedures and processes, often experiencing the direct positive impacts of their changes.
- With technology advancing, the demand for Business Analysts is increasing. According to the U.S. Bureau of Labor Statistics, Business Analytic positions are expected to experience significant growth over the next decade, with a 22% growth projected for Market Research Analyst positions and a 33% growth for Information Security Analyst positions.
- Business Analysts frequently collaborate with colleagues from various departments, management, and external stakeholders, adding a social and exciting element to their jobs.
- The average Business Analyst in the U.S. earns $104K annually, with the top 10% earning nearly $180K. Salaries are expected to rise as more organizations realize the benefits of data analytics.
- Business Analysts have ample opportunities for professional development and growth, with their continually acquired skills and knowledge making them valuable assets to their organizations.
- Business Analyst roles offer flexibility and versatility, with responsibilities and requirements varying between organizations and even within projects, offering the chance to find a career path based on niche focuses.
Is Business Analytics a Good Career?
If you’re considering a career as a Business Analyst, you may wonder if this is a good professional path. This article will explore why business analytics is an excellent profession in 2023 and some of the benefits of working in this field.
Why Become a Business Analyst?
There are many reasons why business analytics is a great career path to pursue in 2023. The following eight reasons illustrate the financial, professional, and personal motivation some have for starting a career as a Business Analyst:
You will get to see the impact of your work
Most professional roles contribute in some way to helping their organization succeed. However, as an employee, it’s rare to see the direct results of your contribution. This is not the case in business analytics. Business Analysts spend a good portion of their time improving organizational procedures and processes. Since they work in the organization they are helping to improve, they often experience the positive impact of their efforts. They see firsthand how the changes they helped to create and implement benefit the employees, clients, and customers. This can be a great incentive to continue the good work.
There’s a strong job market for Business Analysts
As technology advances rapidly, the amount of data organizations create is also increasing. This trend is expected to continue, so companies are actively seeking business professionals with the skills to transform this data into valuable insights. It’s becoming more common for organizations to realize the value a Business Analyst provides to their teams and organization. This is why various business analytic positions are expected to experience significant growth during the next decade. According to the U.S. Bureau of Labor Statistics, a 22% growth in Market Research Analyst positions and a 33% growth in Information Security Analyst positions are projected for the next ten years. These expansion rates are well above the national growth average.
It allows you to collaborate regularly
Collaboration plays a huge role in a Business Analyst’s job. Not only do Business Analysts collaborate with colleagues from various departments within their organization, but they also regularly communicate with those in management and external stakeholders like clients or customers. It’s common for a Business Analyst’s projects to affect multiple departments within their organization, which means they regularly interact with and learn from new people. Unlike some jobs that remain the same day after day, the collaborative element in business analytics helps keep workdays exciting and unique. It also adds a social element to the job, which can make for a more enjoyable working environment.
The pay is good
A career as a Business Analyst can be demanding, but it also comes with a competitive paycheck. The U.S. Bureau of Labor Statistics doesn’t report on the occupation of “Business Analyst” by that title, which means that salary estimates vary for those working in this field. Pay rates are often calculated based on specific occupational titles, such as Financial Analyst or Computer Analyst. However, business analysts are typically paid well for their contributions across all professional focuses. The average Business Analyst in the U.S. makes $104K a year, and the top ten percent of earners make almost $180K annually. As more organizations realize the benefits of data analytics, salaries are likely to rise.
Business Analysts have ample opportunities to grow professionally
As a Business Analyst, you are tasked with finding new ways to improve your organization's operations, practices, and procedures. Doing so will likely require continually learning new information, acquiring new hard and soft skills, and performing other tasks that help you improve professionally. Those working with business analytics must keep their organization current with the latest industry trends. This means continually performing research and finding new ways to develop skills. Not only do the acquired skills and knowledge benefit your employer, but they also make you a valuable asset to the organization. This can lead to management positions, higher paychecks, and better bonuses down the line. It also makes you more marketable, no matter your professional path.
It provides a high level of independence
To be a successful Business Analyst, you must be highly motivated and self-disciplined. Whether you work for a small or large organization, you will be faced with new tasks and daunting challenges, many of which are unprecedented and therefore require new, innovative approaches. You will constantly have to think outside the box and trust your skills and training when devising improvements. Although Business Analysts regularly correspond with upper management, they are often given the freedom to take the initiative to solve problems. This means that to succeed in this role, you must be more independent than you may need in other organizational roles.
It is a flexible, evolving position
The responsibilities and requirements of a Business Analyst can vary from organization to organization and even change within that organization from project to project. While some Business Analysts perform technical tasks, others are more involved with the business aspect. In addition, some positions mainly work with process flows, whereas others revolve more around finding technical solutions to their organization’s needs. Because there are so many titles under the umbrella of “Business Analyst,” it’s possible to find a career path based on niche focuses or to have a career path that evolves to meet the organization’s changing needs.
It allows you to help others
One of a Business Analyst's jobs is finding solutions for complex challenges their organization is facing. These solutions tend to impact many people within the organization and those external to it. Helping coworkers perform their tasks more efficiently, as well as helping the organization generate more profit, can have many positive professional outcomes, such as making everyone’s jobs easier and improving their overall quality of working life.
Learn More About Business Analytics by Enrolling in Hands-on Classes
If you’re interested in starting a career as a Business Analyst, a variety of courses are currently available for beginners, intermediate, and advanced students who hope to brush up on their business skills. Noble’s Business Analyst Certificate is a great learning option for any aspiring Business Analyst. Relevant tools and skills such as data analysis, Excel, Tableau, and SQL are covered in this hands-on program. Those enrolled in this intensive course can elect to study online or in person in Manhattan. This class comes with the option of a free retake for learners who wish to revisit course material.
In addition, an excellent resource for finding business analytics classes close to home is Noble Desktop’s Classes Near Me tool. You can use it to search more than 250 live online and in-person business analytics courses currently available in topics such as SQL, PowerPoint, and Excel for Business, among others.