A business analyst is one of the most crucial jobs in modern business because they fill the gap between a company’s IT and business sectors of a company. With this position, they can communicate about how to understand data better and how to improve or change its process.
Data these days is valuable if someone knows what to do with it—that is where a business analyst comes in. They find business patterns and emanate meaningful insights. Now to the main question, what are the responsibilities of a business analyst, and what steps can they take to earn more?
Responsibilities of a business analyst
A business analyst has several responsibilities:
- Identifying the company’s business objectives and problems and producing solutions
- Collecting requirements from stakeholders and clients
- Giving the development team a designed solution to work on
- Understanding functional and non-functional requirements
- Comprehending documentation and data visualisations to find project outcomes
These were the primary responsibilities of a business analyst but so much more depends on the skillset and experience of the BA. To earn more as a business analyst, here are 5 steps you can take:
1. Gather data
Business analysts spend time analysing data to make critical business decisions, making them the superhero of data. Why not use this talent to advance your career and boost your salary? Spend time searching for market rates of business analysts in your industry or department. You will learn how much you can make at a different company or industry.
2. Go for a specialisation
Specialisation is a very bankable quality in any job, especially as a business analyst. You might have a place in your department if you are a generalist. Companies are looking to hire or retain talent who genuinely know their business. A specialist is quite familiar with all the nuances of a specific economic sector.
3. Make yourself bankable
Have you done your research and collected all data you could but aren’t sure you are in the right place to ask for a raise yet? Do you think you deserve a salary boost, but your department doesn’t see the hard work, extra effort, and hours you put in? Then you need to forego big professional paydays in a shorter time. Instead, go for learning and professional growth opportunities.
4. Consider an internal move
Do you think your current position in your department is a salary dead-end? Look for other opportunities within your organisation, and you may be surprised to find a new job that keeps you within the business analyst world but brings new responsibilities and challenges and, of course, a better salary package and promotion opportunities.
5. Consider your BA job a foundation, not a destination
If you decide to move on from your BA role, it is still a great experience and learning opportunity. However, it completely depends on an individual if they want to spread their wings with better skills than other business analysts present or stay put.
Remember, a business analyst job is just gathering data and is a very high-paying job with significant career growth, but it all depends on the how much you want to spread your wings.