Business Data Analyst Salary in 2023

Salary details

The average Business Data Analyst salary lies between USD 35,000 and USD 94,000 globally. It represents the overall compensation/gross salary amount for the working year (before deductions like social security, taxes and other contributions), not including equity/stock options or similar benefits.

All data shown are full-time equivalent (FTE) salaries. Part-time salary information has been extrapolated to its FTE value.

Last updated: Nov. 17, 2024

Salary trend

Top 20 Job Tags for Business Data Analyst roles

The three most common job tag items assiciated with Business Data Analyst job listings are SQL, Python and Tableau. Below you find a list of the 20 most occuring job tags in 2023 and the number of open jobs that where associated with them during that period:

SQL | 78 jobs Python | 44 jobs Tableau | 43 jobs Excel | 43 jobs Finance | 39 jobs Data analysis | 37 jobs Engineering | 36 jobs Statistics | 31 jobs Power BI | 28 jobs Data visualization | 26 jobs Computer Science | 23 jobs Agile | 22 jobs Testing | 21 jobs Security | 19 jobs KPIs | 18 jobs Data quality | 18 jobs Business Intelligence | 17 jobs Looker | 16 jobs Big Data | 15 jobs Data Analytics | 15 jobs

Top 20 Job Perks/Benefits for Business Data Analyst roles

The three most common job benefits and perks assiciated with Business Data Analyst job listings are Career development, Startup environment and Health care. Below you find a list of the 20 most occuring job perks or benefits in 2023 and the number of open jobs that where offering them during that period:

Career development | 59 jobs Startup environment | 35 jobs Health care | 34 jobs Team events | 32 jobs Flex hours | 31 jobs Flex vacation | 22 jobs Salary bonus | 20 jobs Equity / stock options | 19 jobs Competitive pay | 19 jobs Insurance | 12 jobs Parental leave | 11 jobs Wellness | 10 jobs 401(k) matching | 9 jobs Medical leave | 8 jobs Gear | 4 jobs Home office stipend | 4 jobs Unlimited paid time off | 4 jobs Fitness / gym | 3 jobs Transparency | 3 jobs Fertility benefits | 3 jobs

Salary Composition

The salary for a Business Data Analyst in AI/ML/Data Science typically comprises a fixed base salary, performance bonuses, and additional remuneration such as stock options or benefits. The fixed base salary is the most substantial component, often accounting for 70-85% of the total compensation package. Performance bonuses can vary significantly, ranging from 5-20% of the total salary, depending on individual and company performance. Additional remuneration, such as stock options, profit-sharing, or benefits like health insurance and retirement plans, can make up the remaining 5-15%.

Regional differences play a significant role in salary composition. For instance, analysts in tech hubs like San Francisco or New York may receive higher base salaries and stock options due to the high cost of living and competitive job market. Industry also influences salary composition; tech and finance sectors often offer more lucrative bonuses and stock options compared to non-profit or public sectors. Company size can affect salary as well, with larger companies typically offering more comprehensive benefits and bonuses.

Increasing Salary

To increase your salary from a Business Data Analyst position, consider the following strategies:

• Skill Enhancement: Acquire advanced skills in data science, machine learning, or AI. Proficiency in programming languages like Python or R, and tools like SQL, Tableau, or Power BI, can make you more valuable.
• Advanced Education: Pursue a master's degree or specialized certifications in data science or business analytics to enhance your qualifications.
• Networking: Build a strong professional network by attending industry conferences, joining relevant online communities, and connecting with peers on platforms like LinkedIn.
• Performance Excellence: Consistently exceed performance expectations and take on challenging projects to demonstrate your value to the organization.
• Negotiation: When discussing salary, be prepared to negotiate by researching industry standards and articulating your contributions and achievements.

Educational Requirements

Most Business Data Analyst positions require at least a bachelor's degree in a related field such as Business Administration, Economics, Statistics, Computer Science, or Mathematics. A strong foundation in quantitative analysis and business acumen is essential. Some employers may prefer candidates with a master's degree in Data Science, Business Analytics, or a related discipline, especially for more advanced roles.

Helpful Certifications

Certifications can enhance your credentials and demonstrate your expertise. Some valuable certifications for a Business Data Analyst include:

• Certified Business Analysis Professional (CBAP): Offered by the International Institute of Business Analysis (IIBA), this certification is recognized globally and validates your business analysis skills.
• Microsoft Certified: Data Analyst Associate: This certification demonstrates your ability to use Microsoft Power BI to maximize the value of data assets.
• Google Data Analytics Professional Certificate: A comprehensive program that covers data cleaning, analysis, and visualization using tools like R and Tableau.
• SAS Certified Data Scientist: This certification validates your ability to manipulate and gain insights from big data using SAS and open-source tools.

Experience Requirements

Typically, employers seek candidates with 2-5 years of experience in data analysis or a related field. Experience with data visualization, statistical analysis, and business intelligence tools is often required. Familiarity with industry-specific data and business processes can also be advantageous. For more senior roles, 5-10 years of experience may be necessary, along with a proven track record of leading data-driven projects.

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