Business analysts and data analysts help their organizations in making data-driven decisions. Both roles have become essential in each organization as more companies have embraced the use and value of data in making business decisions.
Business analytics is focusing more on the business impact of the data collected. With this, business analysts are able to identify problems, solutions, and other opportunities for the organization. Business analysts will deal with business leaders in guiding them in making decisions that will greatly benefit the organization.
Data analysis on the other hand focuses on data gathering, analysis, and preparing it for a presentation that will help the organization identify trends, problems, and business needs. They present data in a way that would tell a story. More often than not, data analysts deal with large datasets.
Both roles have been well desired among different industries and are also usually well-compensated. Let’s take a closer look at the average salaries for these positions.
Business Analyst Salary
According to Glassdoor, the average base pay of a business analyst is CA$67,250 per year. Business analysts with at least 3 years of relevant working experience may get offers starting CA$60,000 per year.
There is also potential for you to get a higher salary if you have a certification in business analyst like IIBA’s Certified Business Analysis Professional (CBAP). Getting certified can get you a salary offer that is 13% higher than what non-certified business analysts get.
Being a business analyst could lead to different positions that have higher salaries. For example, a senior business analyst’s average base salary per year is CA$85,808. To be a senior business analyst, you need to have at least 4 years of experience in the same field. You may check out the career path of a business analyst on PayScale.
Data Analyst Salary
The average base pay of a data analyst is CA$62,756 per year, according to Glassdoor. This may be offered for a data analyst with at least 2 to 3 years of experience. While entry-level positions may be offered a salary of CA$45,000 to CA$50,000 per year.
Getting sufficient experience in the industry can help you advance your career and get a higher salary. Expose yourself to different areas in the field and get the right skills that will help you get promoted. You can also get certifications on different tools and systems such as Google Data Analystics, MySQL, Tableau and R.
You can also look into different industries and find out which industries pay data analysts higher. These industries include finance and insurance, information technology, management, manufacturing and scientific and technical services.