Highest-Paying Business Analyst Jobs [2023] - Zippia (2024)

Research Summary. Using a combination of public government and company data as well as data gathered from thousands of job postings, the Zippia data team has created average salary estimates for jobs across the US. Using that data set, the team has identified the types of business analysts that are the highest paid based on their average annual salaries.

Here is a summary of our findings for the highest-paying types of business analysts:

• Lead Business Analyst is the highest-paid type of business analyst with an average salary of $107,171 and an average hourly rate of $51.52.

• The second highest-paying type of business analyst is senior technical business analyst, with an average salary of $105,907.

• The average business analyst salary is $74,431 per year, and the average hourly pay is $35.78.

Table Of Contents: Background | Table | Methodology | FAQs

Background

Choosing a career path can be difficult, and while pay shouldn’t be the only thing you consider in your decision, it is a significant factor. So if you’d like to work as a business analyst, it helps to have an idea of what the highest-paid types of business analysts are so that you can plan your career progression.

Here are the top salaries for different types of business analysts:

1. Lead Business Analyst

   Average Salary: $107,171

   A lead business analyst utilizes data and analytical skills to plan, develop, and implement business systems and operations to help a company attain its short and long-term goals. Their duties focus on conducting market research and assessments, gathering and analyzing data, studying consumers and competitors in the industry, and identifying the strengths and weaknesses in existing systems. They also conduct risk assessments, create business models and forecasts, and identify solutions against potential or existing issues. Additionally, through their research findings, they develop recommendations in adherence to company standards and regulations.

2. Senior Technical Business Analyst

   Average Salary: $105,907

   Senior Technical Business Analysts are experienced employees who primarily work on business improvements. They review business processes and other operations-related procedures in relation to the current business landscape. They should be familiar with the trends in the industry and how these trends affect the company. They should also be familiar with the company processes, people’s capabilities, and other context-setting information related to the business. Senior Technical Business Analysts work with different departments to get a holistic view of the company. This would help them recommend action plans and next steps to address the company’s challenges and ensure that the company overcomes these challenges.

3. Business Systems Senior Analyst

   Average Salary: $103,098

   Business systems senior analysts are responsible for resolving problems and requirements related to organizational information. They perform various duties that include determining operational objectives, designing computer programs, and improving business systems by designing modifications and studying current practices. Additionally, they are responsible for defining project requirements, maintaining user confidence and information confidentiality, and preparing technical reports. These professionals are also expected to maintain their knowledge by participating in professional associations or attending educational workshops. The skills and qualifications required for this position include previous work experience, software design and development, and problem-solving skills.

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4. Business Analyst/Project Manager

   Average Salary: $99,882

   A business analyst/project manager is responsible for developing project management procedures, analyzing processes, and ensuring the accuracy and efficiency of project deliverables, following clients’ specifications and requirements to meet their highest satisfaction. Business analysts/project managers manage project resources, delegate tasks to project staff, setting deadlines, and coordinating with the clients for regular updates and suggest strategic adjustments as needed. They also mitigate potential risks and manage changes during the project execution, maintaining the quality of the outputs, and balancing costs to meet the clients’ budget goals.

5. Senior Business Analyst

   Average Salary: $96,844

   A Senior Business Analyst’s responsibilities may vary upon the organization or company. However, most of the time, the duties will focus on overseeing a company’s business operation to analyze risks and come up with strategies that would boost financial gains and company efficiency. A Senior Business Analyst will work closely with various teams while monitoring and evaluating their performance and progress, coordinate with departments, lead fellow skilled professionals, gather and analyze data, and identify opportunities. All while prioritizing customer satisfaction and adhering to the company policies and standards.

Below is a full table of the average pay for various business analyst that pay the most followed by a more detailed explanation of our methodology.

Highest-Paying Types Of Business Analysts

Methodology

Zippia uses publicly published information from government sources such as the Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC), and the Office of Personnel Management (OPM) to create its salary estimates.

Our data science team also checks job postings and company-published resources for additional up-to-date salary information for business analysts.

Once they’ve gathered the data, the team calculates a weighted average for each job title they’re estimating a salary for. For more details on our salary estimates, you can read the detailed methodology.

Highest-Paying Types Of Business Analyst Jobs FAQs

1. What is the highest-paid business analyst job?

   The highest-paid business analyst job is a lead business analyst. Lead Business Analysts earn an average salary of $107,171, which is $ 51.52 hourly.

   A lead business analyst utilizes data and analytical skills to plan, develop, and implement business systems and operations to help a company attain its short and long-term goals. Their duties focus on conducting market research and assessments, gathering and analyzing data, studying consumers and competitors in the industry, and identifying the strengths and weaknesses in existing systems. They also conduct risk assessments, create business models and forecasts, and identify solutions against potential or existing issues. Additionally, through their research findings, they develop recommendations in adherence to company standards and regulations.

2. What is a good salary for a business analyst?

   A good salary for a business analyst is $74,431 or more. The average business analyst salary is $74,431, so those making at least $74,431 are earning above-average paychecks.

   Keep in mind, however, that the average business analyst salary does fluctuate based on location, as companies will adjust their pay scales based on the cost of living in that area. Research what the average salary is in your area for someone of your expertise and experience level to get a more accurate view on how well you’re being paid.

   In addition, if you’re just starting your career as a business analyst, the average entry level salary is $0, so don’t base your opinion of your salary on the $74,431 average, as this includes all business analysts of all skill and experience levels.

3. Do Business Analyst jobs pay well?

   Yes, business analyst jobs pay well. As in any industry, some business analyst jobs pay better than others, but the average business analyst salary of $74,431 is times the average national salary of about $44,225 per year.

   In addition to this, many business analyst jobs have high earning potential, with the top 10% of business analysts earning $0 a year on average.

   Business Analysts’ salaries will fluctuate based on their experience level, industry, and location, so pay attention to these factors when you’re looking for a job as a business analyst. Do your research on the going rate for a business analyst in your area with your expertise, and don’t be afraid to negotiate your salary based on that information.

4. Where do business analysts get paid the most?

   Business Analysts get paid the most in Nevada. In Nevada, business analysts earn an average annual salary of $75,193 and an average hourly wage of $36.15.

   Following NV, the states with the highest-paid business analysts are Oregon, Washington, and New Jersey, with average annual salaries of $81,847, $88,037, and $80,764 respectively.

   The cities with the highest-paid business analyst salaries are:

   1. Mountain View, CA – $91,966

   2. Seattle, WA – $88,529

   3. Washington, NJ – $81,060