- Business and Employment
Essential Details That Can Help You Chase Business Analyst Jobs
Business Analysis, A Need of This Era
Isn't the job title of a Business Analyst fascinating enough? Doesn't this job role instils the curiosity in you to know more about this career. Most of the baby boomer wouldn’t be known to the responsibilities and details associated with these jobs, because it is one of the careers demanded by the businesses of this era. The Millennial and the young Gen X professionals find the job role worth exploring.
Most of you would be thinking of the major details associated to this career option, which make it almost essential for every business operating in any domain. This article has been focused towards detailing the career options in business analysis, the job roles of those employed as business analysts, and its significant for a business entity. Besides, the growth prospects and expansion of this career would also be included in the following modules. However, the article may seem a bit lengthy, the essential details have been compiled in pointers so as to note down the essential details quickly, if time is a constraint for you.
Your road map to be a business analyst
Does the job role of a business analyst inspire you to move ahead on this career path? If yes, you may consider the qualifying criteria for these jobs and get started. No specific degree or specialization restricts your ability to be a business analyst. Generally, a bachelor's degree in finance, accounting or business administration is considered apt. However, in IT companies, those hailing from technical backgrounds may be preferred. This may include the ones holding a bachelor's degree in computer science. Soon after completing your graduating, you can apply for these jobs. The job roles offered to you initially would not really lure you, but the tasks you would perform in those initial jobs would surely prepare you to work as a credible business analyst. Besides, for higher positions in business analysis, companies generally consider those, who hold MBA degrees.
Skills you should acquire to fit in the role
- Planning & implementation
- Analytical skills
- Research and case studies
- Project management
- Industry specific knowledge
- Technical knowledge
- Presentation and documentation
- Multi-tasking and the ability to coordinate with end users, managers, management, and other professionals in the team
- Quick learning abilities to manage new systems and applications
Significance of a Business Analyst in an Organization
The simplest way to justify a business analyst's presence in a company would be to define the job role. A business analyst is the resource, who's responsible to add value to the company's business and existence in the market. Everything from the business process followed by the company to reviewing the long term objectives that have already been defined, all the responsibilities lie with these professionals. Most of the large conglomerates, consulting companies, and business houses find it crucial to pick the experienced and qualified professionals for this profile as the performance of a business analyst may majorly impact the long term operations of the company. The performance of these professionals is always under scrutiny due to the cruciality of the job role.
Business Analyst Jobs
Do you think, business analysis will continue to be a hot career choice in the years to come?
Business Analysts are desired for:
Those employed as business analysts are highly skilled, dedicated and proficient individuals, who are backed up with a critical understanding of the domain, they are serving. Before initiating their operations in the companies, they are first introduced to the stakeholders, the managers and the other related professionals that they may have to deal with. Besides, before implementing any new plans or strategies, they develop an understanding of the previously implemented business processes and the business generated by them. Besides, the major areas of operation in this field include:
It is one of the prime responsibilities of these professionals to strategically plan the strategies and processes. After having identified the business needs, they come up with the strategies to add value to the business operations to take the company a level up.
Business Model Analysis
Every organization, whether small or large follows a business model, which further directs it. This responsibility too lies with a business analyst. They make recommendations to improve the business model and help implementing the changes, if approved by the management.
The work flow being followed in any organization further defines its growth. So work process being implemented in any organization has to be streamlined. Business analysts make it happen in the finest manner.
This is generally a crucial segment in IT (Information Technology) companies. They are technologically abled professionals, who work to make the business technologically sound. They design new IT solutions and enhance the existing ones to make the systems more productive.
The other related job roles:
- Business Process Analyst
- IT Business Analyst
- Systems Analyst
- Data Analyst
Average Salaries in Business Analysis
Every business seeks timely growth, for which expansion and development are two major keys that have to be focused. The business analysts work on both of these factors by implementing desired changes to the business model and strategies. Qualified and efficient business analysts are considered to be the crucial assets for the company and thus, they are valued all around. The salaries paid to them are also alluring. However, this may even depend on the skills possessed by the candidate and his suitability for the job. As per the data collected through pay scale research firm, a business analyst in India can make Rs 471,533 annually. Besides, if we consider the average annual pay package of a business analyst in IT, one can go on to make more than Rs 5,00,000. Besides, those specialized to work in banking/finance can be offered an annual remuneration of Rs Rs 545,200.
Business Analysis Process
Major Companies That You Can Aim to Work With as Business Analysts
American Express India
What lies in the future for business analysts?
The future looks bright
Business analysis is a career, which isn't expected to lose its charm or significance. They are desired across various sectors to add value to the existing operations of the organization. The tasks performed by them would be desired by the companies to reach up to the next level where customers are highly satisfied and the team works collectively towards one goal. At present, they are desired to work on the business models & strategies, and even research and training, but in future, the job responsibilities may increase. With the time, the professionals applying for these jobs would be expected to have a bend toward technology and the tech-savvy people would be found more suitable for the job. This means that a person working as business analyst will have to operate as a multi tasking resource as the job role desires all the skills, including project management, solutions or information architecture, data analysis, and more.
Where do the most alluring jobs lie?
Now when all the essential details related to the business analysts' jobs have been detailed, you should get started. But, before that you should know well about the companies that you can aim to work with as business analysts. Almost all the sector desire business analysts, but majorly, banking & finance, management consulting, and Information Technology are the major businesses that seek professionals for business analysis. You can even scroll through the business analyst jobs listed at the leading job portals. Besides, you can even apply directly for these jobs in the companies that can add to your future career prospects.