Common Myths and Misconceptions about Business Analyst Careers

 

I am searching for How To Become A Business Analyst.

I need to get my thinking straight about the career.

What is the job outlook for entry level business analysts?
What are the misconceptions about theindustry?
What are the wrong turns for a newbei business analyst?

Answer

The Business Analysis industry has experienced a significant growth in the last decade.

According to a market analysis, there has been 45% growth in analyst positions between 1990 and 2005, offering increasing opportunities every following year.

By 2014, 27% more growth is expected.

Another study predicts that Business Analysis job will be the fastest growing among all IT jobs, with IT giants like Google, Infosys, and many others continue to recruit more and more business analysts.

“It’s a job that currently has a skills shortage in the IT world, and that means strong job candidates can call the shots, ” says Tom Derbyshire, a recruitment consultant.

In short, the industry is robust with increasing number of opportunities.

Salary

The pay scale of a business analyst depends largely on the size of an organization and varies from country to country.

Indeed.com reports that a junior business analyst receives US$ 72,000 as salary.

According to Payscale Salary survey 2008, a candidate with minimum one year experience can take home approximately US$52,160, whereas candidates with above four years of experience bag approximately US$62,500 in the USA.

According to SimplyHired.com, a business analyst receives a salary of approximately US$63,000 as of June 2010.

Does not this make it an enviable position to grab for those willing to work hard? Yes, it does.

Common Misconceptions

· A certificate or a degree alone can’t fetch you a business analyst job.

A business analyst’s roles involve identifying the existing problems of a company/a client and suggesting methodologies and strategies to improve business.

This requires a fair amount of understanding of business, analytical skills, problem solving skills and technical skills.

· A business analyst’s role does not involve developing IT systems. Rather, they are expected to research, sift through data, identify problem areas, and suggest ideas to improve business process and procedures so that a company can increase their profit margin.

· A business analyst is not a project manager. Some times, business analysts play the role of a mentor to a project manager.

Prospects

Though it is hard for a fresh candidate to break into this industry, if you have a combination of right skills and experience, employers are ready to accept you.

You should demonstrate that you can increase the profit margin of your prospective employers for you to be hired immediately. This requires you to have:

Excellent written, oral and interpersonal communication skills
Proficiency in application programming and different databases
Analytical, creative and problem-solving skills
Career Path

Whether you are a fresh MBA graduate with no experience or a developer/Quality analyst with 2 to 3 years, you can progress through the roles of IT business analyst, then Senior Business analyst, followed by the role of an SME/Business process consultant.

Finally, you can become a Business Manager or an independent consultant.

I hope that these answers help.

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