Business analysts (BAs) are an asset to the organization. They help to streamline processes and increase the efficiency of an organization and its profits. People in this position share a good rapport with almost all the departments of the company.
Because of the immense competition, several sectors offer rewarding prospects for well qualified and experienced analysts including pharmaceutical, finance, insurance, banking, IT/ITES, healthcare, budgeting and others.
As a matter of fact, it can be safely said that all companies, regardless of the sector that they operate in, need BAs. Although it can be difficult to find an entry level position in the business analyst field, once you secure a job and get the perquisite experience, you should have no dearth of job opportunities.
Job Security
BAs enjoy greater job security because of the versatility of their positions. Research also indicates that the sector has been sparred the ill effects of recession because companies require new ways of thinking even in a glum economic scenario.
Business Knowledge
Because a BA is expected to have in depth knowledge about the various business functions, a person in this position can readily change his expertise in the different facets of business to look for alternative employment. For instance, technical know how can be used to secure employment as a QA. On the other hand, product industry specific product knowledge can be used to work in marketing and sales. Also, the knowledge of the various sectors can help a business analyst move up the corporate ladder to managerial positions.
Since an analyst working in a business is on both sides of the company, the clients as well as the organizations, regardless of how the coin flips, he always has it landing back safely into the business analysts hands.
Educational Requirements You will need a bachelor’s degree to get business analysts jobs with a major in industrial engineering, business management, finance or computer science. You should also consider becoming certified. One such certification is the Certification of Competency in Business Analysis from IIBA. Other organizations offer certification, however just make sure that you go to a respected and accredited establishment to earn your credential.
Apart from this, you will also need to have an in depth understanding of organizational skills and superlative interpersonal skills. It would also help to study UML (Unified Modeling Language) which is commonly used in IT.
Salary Expectations
The average salary of BAs is $81,000 per year. A junior business analysts will likely start at about $48,000.
Working Conditions
BAs work out of convenient and comfortable office environment with little or no fieldwork involved depending on the nature of the organization. The position entails constant communication with the clients and the development team.
Promotion Opportunities
While you may start at the entry level position of junior BAs, you can quickly progress to senior levels if you apply yourself. After garnering 3 to 5 years of experience, you will have the option of working as an independent contractor.
Becoming a Business Analyst
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