Recently, business analyst has been mentioned as an emerging and popular profession in Vietnam. And more special business analyst salary up to a thousand dollars a month. So is it really true? What is the salary of a Business Analyst?
From now on, let’s follow Ms. Uptalent to find answers to the above problems through the following article!
Business analyst salary, how much? Is it high or not?
Salary of a Business Analyst abroad
Business analyst salary in Vietnam
The future of the Business Analyst
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Business analyst salary, how much? Is it high or not?
Based on annual salary statistics for business analysts, Uptalent estimates that the average annual salary for business analysts should be around $60,000. Among them, more than 50% of business analysts earn less than $60,000 per year.
With the figure above, the salary of Business Analyst is assessed at a moderate level compared to other professions. The average salary of a Business Analyst has tended to increase rapidly in recent years. On the other hand, the salary of a Business Analyst between different countries has quite a significant difference.
You can observe the statistics below to have a broader view of the salary of a Business Analyst.
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Salary of a Business Analyst abroad
Specifically, Uptalent will take the Business Analyst salary in the United States for your reference. According to the recorded statistical data, the salary of a Business Analyst will depend on his rank, but there are different ups and downs.
The entry-level business analyst with less than 2 years of experience will have an average salary of around $56,000/year. At this level, you generally work under the direction of one person and are not allowed to make many independent decisions. Your main task is to test and evaluate business systems and examine their impact on businesses and users. You will need to understand the concepts and procedures of the overall trading system as well as the technologies that make them work.
Meanwhile, a mid-level Business Analyst with 2-4 years of experience will have a salary of around 71.8 USD/year. You now have more decision-making power and more creative freedom, but you still have to report the work to your superiors. With your experience and judgment, you take on more important tasks. Like setting the level of the project, assessing the project goals, setting up the project, and building the system to complete the projects to help your company achieve the specific goals.
For senior business analysts with 4-6 years of experience, the salary will be around $86.6/year. At this level, you are already an extremely competent business analyst, able to lead, direct work and manage employees very well. Moreover, you also have excellent communication skills, creativity and can be responsible for the employees under your care. At the same time, you can also lead projects from start to finish independently.
Interesting professions
It can be seen that the average salary of a Business Analyst abroad is very good, ranging from 110 to 160 million VND/month. A very admirable number, isn’t it? But that’s overseas. So what about Vietnam?
Business analyst salary in Vietnam
According to the results of a survey of some business analyst salary statistics in Vietnam, Uptalent found that the salary of business analysts also has a difference depending on the rank. As following:
– Entry-level business analyst salary with 1-2 years of experience is between 10-15 million VND/month.
– Mid-Level Business Analyst Salary (Senior) at about 15-40 million VND/month. The salary is high or low depending on the experience, the type of business and the size of the business.
– The average salary for a senior business analyst is around 45-60 million VND/month. This is the salary of foreign companies or relatively large companies.
– With Business Analyst Manager in large companies and companies, the salary is usually more than 50 million VND/month.
Currently, according to Uptalent, some business analysts at large companies are required to earn a salary of more than USD 4,000/month, equivalent to VND 90 million. That’s a huge number, isn’t it? However, these positions are usually occupied by managers with 7 to 8 years of experience.
>>> You might be interested: What to study? Become a business analyst
The future of the Business Analyst
Previously, very few companies recruited Business Analysts, generally PM, PO or Dev will simultaneously assume this role. But now it’s different. In fact, companies have recently recruited more Business Analysts than before. This shows that they have started to realize the importance of the Business Analyst in the organizational structure of the company.
Moreover, Business Analyst is not only needed in the IT industry but also very important for other fields such as finance, business, healthcare, etc. Therefore, it can be said that the future of Business Analyst industry is highly desirable.
In short, the Business Analyst salary compared to other professions is not too high, but it is not low either. The thousand dollar salary of a business analyst is also real, but it is not easy to achieve. Like any other profession, to get the desired salary, you need to go through a certain process of training and experience. So when you are an expert in this field, anything is possible.
Most importantly, choose a career that suits you, not a trend. When you are determined to pursue a business analyst career, you must follow a specific learning path to achieve your career goals step by step. You can also read Uptalent’s article What to learn to become a Business Analyst to find out what you need to learn!
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