Tuesday, June 3, 2014

RHT: 3 Interesting Trends in Business Analyst Salaries

by Robert Half Technology
June 3, 2014

Both experienced and budding business analysts can expect increases in starting salary levels and other positive changes to compensation as their role grows in visibility.
The rise of data-driven decision making has spurred demand for the business analyst in many organizations.
Much like project management before it, the role of business analyst is transforming from a subset of more encompassing resource management positions to a full-time job all on its own. Straddling business development and IT, the business analyst is a linchpin of a new approach to resource planning and management.

Both experienced and budding business analysts can expect increases in starting salary levels and other positive changes to compensation as their role grows and gains more visibility in the enterprise.

Here’s a look at some of the top trends in business analyst salaries for 2014:
CRM Business Analysts to see Salary Increases
With customer relationship management (CRM) playing a vital part in predictive analysis-driven marketing and service efforts, it’s not surprising that a CRM business analyst can expect to earn more this year. According to the Robert Half Technology 2014 Salary Guide, the average starting salary for a CRM business analyst now ranges from $80,000 to $109,000 in the United States and $85,000 to $106,000* in Canada. These figures represent healthy 5.3 percent and 5.2 percent rises over the average 2013 salaries, respectively.
Enterprise Resource Planning (ERP) Business Analysts Also Earning More
Centralized management of supply chain and customer-facing efforts are driving the need for ERP experts. Robert Half Technology’s 2014 Salary Guide reports that an ERP business analyst in the United States can expect to earn starting compensation between $83,750 and $115,250 this year, a 5.6 percent increase over 2013 figures. An ERP business analyst in Canada can anticipate a starting salary to range from $90,500 to $119,000* in 2014, a 5.3 percent lift compared to last year.
Broader Skill Sets can Help Boost Compensation
The integration of business and IT creates a potentially lucrative market for professionals whose skill set can blend technical and functional knowledge with analytical and problem-solving skills. It also means that as a business analyst, you can have a more central role in the development and use of the tools on which you rely. Below are examples of some in-demand skills that can help a business analyst earn a higher rate of starting compensation, according to Robert Half Technology’s 2014 Salary Guide:
  • Business objects skills: Many companies are looking for data crunchers who can help turn growing volumes of raw data into actionable intelligence for decision making. If you’re a business analyst with this skill set on your resume, you could increase your starting salary by up to 7 percent.
  • SharePoint: This widely adopted application platform is also chronically underutilized in many organizations. With SharePoint expertise, you could garner a 12 percent boost in starting compensation as a business analyst.
  • Programming languages: With custom software development playing a larger role in many organizations, adding a programming language to your skill set as a business analyst can’t hurt. Popular (and potentially lucrative) ones include C#, Java and .NET, all of which can bump up your starting salary by 9 percent.
It’s a good time to be a business analyst, as new positions and software planning investments mean that you have more options available. Adding some extra skills to your resume can boost your candidacy, as well as your starting salary, even further.

Want to learn more about the changing role of the business analyst? Check out this blog post. For more information about business analyst salaries, as well as some tips about increasing your earning potential or current compensation, check out the Robert Half Technology 2014 Salary Guide.

*Salary ranges for Canada are in Canadian dollars.

— Robert Half Technology

With more than 100 locations worldwide, Robert Half Technology is a leading provider of technology professionals for initiatives ranging from web development and multiplatform systems integration to network security and technical support. Visit our website at www.rht.com.

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