The answer to this question is a big YES!! Of course!!
We are living in a digital world where technologies such as Artificial Intelligence and Machine Learning are disrupting the market. This is why organizations are on their way to digital transformation to stay in the competition. Eventually, there is a surge in the need for Business Analysts in every organization across every sector. Organizations rely on trained and well-qualified Business Analysts to get recommendations on making smart decisions and best practices to attain a competitive edge.
This way, Business Analysts can have great opportunities for career advancements and salary hikes. Professionals prefer to take a business analyst course to pursue a career in this domain.
In this uncertain world where there is a lot of political uncertainty, hit by the pandemic, technology advancing at a tremendous pace, and intense competition, it is challenging for businesses to keep pace with the evolving market trends. It is here that Business Analysts come into action. They work behind the scenes and enable businesses to achieve better performance and benefits.
Every benefit matters. A great Business Analyst spells the line between mediocrity and excellence.
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Yes, Business Analyst is a good career path because:
- It offers a plethora of career opportunities. You can choose to become Data Analysis Scientist, IT Business Analyst, Data Business Analyst, Business Analyst Manager, Information Security Analyst, and Quantitative Analyst.
- Business Analysts are reported to attain high job satisfaction
- A Business Analyst can work in every facet of operations in every kind of business team across every industry, so two BAs can have entirely different career paths
- Business Analysts are in high demand. The demand is growing much higher than average
- Business Analysts earn lucrative salaries
Let’s elaborate.
The US Bureau of Labor Statistics expects the demand for some roles in Business Analysis is all set to boom. For example, it is expected that there will be a massive 11% increase in the demand for Management Analysts. This means that there would be 93000 jobs in the US alone. This is higher growth than average.
Market Research Analysts study the market conditions so that they can identify potential sales of new products or services. The new job roles projected for Market Research Analysts are projected to grow by a whopping 18%, with around 130,000 new job roles.
Over the coming ten years, it is anticipated that more typical BA functions will continue to grow, with financial analyst responsibilities growing by approximately 6%, budget analyst roles by about 5%, and computer systems analyst roles by about 5%. But within the next ten years, BA roles related to new technologies and trends will grow much more quickly than the average role. Examples include Market Research Analyst roles (expected to grow by 22%), Operations Research Analyst roles (expected to grow by 25%), and information security analyst roles (projected to grow by 33%).
This huge demand implies that a career in Business Analysis can provide you with secure employment and competitive salaries. The Management Analysts were reported to earn a whopping USD 94,000 in the year 2019.
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Business Analysts command huge salaries:
Can you believe that an average Business Analyst can make around USD 104,000 per annum?
Also, with experience, certifications, and qualifications, you can earn as high as USD 180,000 per year.
With the consistent rise in the demand for Business Analysts, it is expected that the salaries offered to BAs are only going to rise, even for entry-level positions.
This massive rise in demand for Business Analysts also implies that there are a plethora of opportunities for you to shift your career to new locations, cities, and even countries and also to work remotely.
Skills of Business Analysts are transferable:
Since Business Analysts are in demand across every sector, you can shift to new sectors with an all-new job role, as your skills are highly transferable. So, you get the power of working in any industry and, thus, opportunities for great career advancements.
Business analysts are well-positioned to contribute to developing overarching business strategies, company and information systems architecture, process and program management, and project management because of their resourcefulness, diverse skill set, and high level of technical expertise. These top-tier aptitudes translate into a higher level of job satisfaction and can lead to executive positions.
One Hat, Many Job Roles:
With a certification in Business Analysis, you open the doors to many job roles. You can choose to become:
Business Analyst Manager
IT Business Analyst
Management Analyst
Quantitative Analyst
Data Scientist
Information Security Analyst
Business Analyst Manager
In this role, you will be hiring business analyst team members, looking after their training, executing the main goals of organizations, and defining the best practices.
Data Scientist
This role is the dream role for many IT professionals. You will be involved in collecting the data, interpreting it, and using it to make actionable insights. To excel in this role, you need to possess a sound knowledge of statistics and machine learning algorithms.
Information Security Analyst
Cybercrime is one of the most sensitive topics of concern for every industry. In this role, you will be protecting the information system of your organization from hackers and cybercriminals by monitoring IT networks as well as systems.
Quantitative Analyst
In this job role, you will find yourself creating, executing, and presenting mathematical models to support the management of financial decisions which affect investments, risk assessments, and pricing models.
IT Business Analyst
You will be working on various projects and operating systems along with building more substantial business processes.
Data Business Analyst
In this job role, you will find yourself working with massive data sets in order to identify patterns and trends, create charts and other visualizations, and also come up with different visual presentations to help organizations in making informed decisions.
Conclusion
You have now become aware of the versatility of the role of a Business Analyst. To start your lucrative and innovative journey in this domain, all you need to do is to take up an online training course from an edtech giant, Simplilearn.
Enroll Yourself Now!!