Salary for Entry-level / Junior Business Analyst during 2024

Salary details

The average entry-level / junior Business Analyst salary lies between USD 74,900 and USD 128,356 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

Top 20 Job Tags for Entry-level / Junior Business Analyst roles

The three most common job tag items assiciated with entry-level / junior Business Analyst job listings are SQL, Python and Data analysis. Below you find a list of the 20 most occuring job tags in 2024 and the number of open jobs that where associated with them during that period:

SQL | 216 jobs Python | 199 jobs Data analysis | 121 jobs Engineering | 111 jobs Power BI | 111 jobs Excel | 104 jobs Tableau | 102 jobs Statistics | 101 jobs Agile | 95 jobs Computer Science | 94 jobs R | 89 jobs Finance | 85 jobs Testing | 81 jobs Data Analytics | 71 jobs Research | 64 jobs Machine Learning | 62 jobs Data visualization | 62 jobs Mathematics | 59 jobs Data management | 55 jobs ETL | 53 jobs

Top 20 Job Perks/Benefits for Entry-level / Junior Business Analyst roles

The three most common job benefits and perks assiciated with entry-level / junior Business Analyst job listings are Career development, Health care and Flex hours. Below you find a list of the 20 most occuring job perks or benefits in 2024 and the number of open jobs that where offering them during that period:

Career development | 176 jobs Health care | 102 jobs Flex hours | 86 jobs Team events | 54 jobs Startup environment | 47 jobs Insurance | 47 jobs Equity / stock options | 46 jobs Competitive pay | 46 jobs Flex vacation | 34 jobs Medical leave | 31 jobs Parental leave | 29 jobs Salary bonus | 26 jobs Wellness | 22 jobs Relocation support | 20 jobs 401(k) matching | 15 jobs Transparency | 11 jobs Flexible spending account | 10 jobs Fitness / gym | 9 jobs Gear | 8 jobs Yoga | 7 jobs

Salary Composition

The salary for an entry-level or junior business analyst in AI/ML/Data Science typically consists of a fixed base salary, which forms the bulk of the compensation package. This base salary can vary significantly depending on the region, industry, and company size. For instance, tech hubs like San Francisco or New York may offer higher base salaries compared to smaller cities. In addition to the base salary, many companies offer performance-based bonuses, which can range from 5% to 15% of the base salary. Larger companies or those in competitive industries might also provide stock options or equity as part of the compensation package, which can be a significant addition to the overall remuneration, especially in startups or tech firms.

Steps to Increase Salary

To increase your salary from an entry-level position, consider the following strategies:

• Skill Enhancement: Continuously upgrade your skills in data analysis, machine learning, and business intelligence tools. Proficiency in programming languages like Python or R, and experience with data visualization tools like Tableau or Power BI, can make you more valuable.
• Advanced Education: Pursuing a master's degree or specialized certifications in data science or business analytics can open up higher-paying opportunities.
• Networking: Build a strong professional network by attending industry conferences, joining relevant online communities, and connecting with peers and mentors in the field.
• Performance Excellence: Consistently exceed performance expectations and take on additional responsibilities to demonstrate your value to the organization.
• Negotiation Skills: Develop strong negotiation skills to effectively advocate for salary increases during performance reviews or when offered new positions.

Educational Requirements

Most entry-level business analyst positions in AI/ML/Data Science require at least a bachelor's degree. Common fields of study include computer science, data science, statistics, mathematics, or business administration. Some roles may also consider candidates with degrees in related fields if they have relevant skills and experience. A strong foundation in quantitative analysis and problem-solving is essential.

Helpful Certifications

While not always mandatory, certain certifications can enhance your qualifications and make you more competitive in the job market. Some valuable certifications include:

• Certified Business Analysis Professional (CBAP): This certification demonstrates expertise in business analysis and is recognized globally.
• Microsoft Certified: Data Analyst Associate: Validates your ability to help businesses maximize the value of their data assets using Microsoft Power BI.
• Google Data Analytics Professional Certificate: Offers foundational knowledge in data analysis and is a good starting point for beginners.
• AWS Certified Data Analytics – Specialty: For those interested in cloud-based data analytics, this certification is beneficial.

Experience Requirements

For entry-level positions, employers typically look for candidates with some practical experience, which can be gained through internships, co-op programs, or relevant project work during your studies. Experience with data analysis, statistical modeling, and familiarity with data management tools is often required. Demonstrating hands-on experience with real-world data problems can set you apart from other candidates.

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