Business analysts primarily conduct an analysis of the business needs of their clients. They use this analysis to identify problems and suggest possible solutions to help the organization achieve its goals. As defined by the International Institute of Business Analysis, business analysts act as a liaison between stakeholders in order to gather, analyze, and validate the requirements necessary for bringing about changes in the business process, policies, and systems.
Business Analysts Schools and Degrees
Formal programs in management and business consulting are available at quite a few colleges and universities. These generally lead to an associates, bachelors, masters, or doctorate degree in the subject. In order to take up the profession of a business analyst, one needs choose from basic courses in business, management, economics, marketing, statistics, accounting, engineering, or computer and information science. One can also opt for the Certified Management Consultant certification that is offered by the Institute of Management Consultants USA, Inc. However, to apply for this certification, one has to have the basic academic qualifications and experience, submit client reviews, and clear an examination on the IMC USA Code of Ethics. To maintain this certification, a business analyst has to take the exam once every 3 years. It is also necessary to regularly attend conferences in order to be able to keep abreast of the latest developments in the field of business analysis.
Job Requirements
Entry level positions for business analysts generally require a bachelors degree and relevant industry experience. However, requirements for educational qualifications vary greatly between jobs in the government and the private industry. For certain higher positions, employers prefer individuals with at least a masters degree in business administration or a similar discipline.
Individuals with additional years of experience can gain a significant edge in the job market. Having experience in the field that one wishes to consult in often translates into an added advantage. Apart from this, the Certified Management Consultant certification can also give a candidate a competitive advantage.
In addition to educational qualifications and work experience, a business analyst should be good at analyzing user, business, and technical
requirements, and document the results from these analyses. Knowledge of business evaluation methodologies and System Development Life Cycle is necessary as well. Having basic problem solving and negotiation skills, an analytical approach, and the ability to meet deadlines is of great importance. It is also vital to develop qualities such as strategic thinking, attention to detail, and the ability to conceptualize.
Nature of Work
Business analysts can be self-employed or work for large international organizations. One can specialize in specific industries such as
telecommunications or health care, or in a specific business function such as marketing, information systems, logistics, or human resources.
Those working for the government can specialize in particular agencies. Business consultants basically deal with collecting, scrutinizing,
and analyzing information and then making their recommendations to the managers. However, they may be required to work in teams.
Business analysts generally work at both their offices and at the clients sites. The offices are well-lit, spacious, and clean. Frequent
travel and extended work hours are not uncommon in this profession. Also, tight schedules are almost a fixture, and this may result in physical
and mental stress.
Business Analysts Jobs and Outlook
As per the statistics of 2006, business consultants held around 678,000 jobs in the US. The job market is expected to grow by 22% in the next ten years. The following industries are offering the highest levels of employment:
Computer Systems Design and Related Services
Federal Executive Branch
Management of Companies and Enterprises
Management, Scientific, and Technical Consulting Services
State Government
The average annual earnings of business analysts in the US are around $68,050. However, one can earn as much as $128,330 per year in this
profession.
Job Numbers and Growth
About 678,000 business analysts are employed nationally. Workers can expect a very low level of unemployment, if history can be used as a guide. In 2008, 2% of employees could not find jobs.
Area Job Conditions
Popular locations for business analysts include Tallahassee (Florida), Washington (District of Columbia), and Carson City (Nevada). Fewer are found in Wheeling (West Virginia), Lake Charles (Louisiana), and Elkhart (Indiana).
Workers looking for high salaries should look at Odessa (Texas), Naples (Florida), and Portsmouth (New Hampshire), and should avoid Monroe (Louisiana), Abilene (Texas), and Midland (Texas).
Training and Education
Employees often obtain a bachelor's or higher degree, plus work experience before starting. The percentage of business analysts with college degrees is 78%. Workers with some college (less than a bachelor's degree) represent about 16% of the total. Some employees, about 7%, had a high-school education. Recommended schools are shown in the column to the right; request information from them to help you decide which if any could help you with this career.
Part-Time Work and Self-Employment
Part-time business analysts are 13% of all surveyed. Some workers, about 27%, work for themselves.
Business Analysts by Metropolitan Area (city and its surroundings)
In the table below, a Job Density near 0% means the area has an average number of people in this occupation, for its population. A higher or lower Job Density (e.g., +22% or -45%) tells you there are that many more or fewer workers of that type there than in the average US metro area. So, the higher the number, the more common the occupation.
Schools recommended for people interested in this career. Request info with quick online forms. These particular schools are noted for getting back to people fast.
Schools recommended for people interested in this career. Request info with quick online forms. These particular schools are noted for getting back to people fast.