What Does the Average Business Analyst 3 Salary Look Like in 2021?
Business analysts play a critical role in organizations’ success, and as such, they are in high demand. However, it’s not easy to determine the average pay for business analysts due to the various factors that influence compensation.
In 2021, the average salary for a Business Analyst 3 in the United States is $96,759 per year, according to Glassdoor. This figure can vary depending on factors like geographic location, job title, level of experience, and industry.
Geographic Location and Salaries
Geographic location is one of the significant influencers of business analyst salaries. Business analysts in high-cost cities like San Francisco, New York, and Los Angeles earn higher salaries than those in smaller cities and towns.
For example, in San Francisco, the average salary for a Business Analyst 3 is $110,599 per year, while in Dallas, it’s $79,834 annually.
Job Title and Salaries
Another factor that affects business analyst salaries is the job title. Analysts with more seniority and experience receive higher salaries and hold more significant titles.
The average salaries for different Business Analyst 3 job titles on Glassdoor are as follows:
- Senior Business Analyst 3 – $105,000 per year
- Business Systems Analyst 3 – $92,000 per year
- IT Business Analyst 3 – $89,000 per year
Level of Experience and Salaries
Experience is a crucial factor in business analyst salaries. The more experience you have, the higher your salary will be.
According to Glassdoor, the average salaries for Business Analyst 3 professionals with varying levels of job experience are as follows:
- Less than 1-year experience – $70,545 per year
- 1-3 years of experience – $80,635 per year
- 4-6 years of experience – $87,397 per year
- 7-9 years of experience – $96,096 per year
Industry and Salaries
Different industries offer varying salaries for Business Analyst 3 professionals. The highest-paying industries for these professionals include finance and insurance, information technology, and management consulting.
According to Glassdoor, the average salaries for Business Analyst 3 professionals in varying industries are as follows:
- Finance and Insurance – $107,000 per year
- Information Technology – $101,000 per year
- Management Consulting – $99,000 per year
- Computer Software – $95,000 per year
Conclusion
In conclusion, the average salary for a Business Analyst 3 in 2021 is $96,759 per year. However, this figure can vary depending on factors like experience, geographic location, job title, and industry.
As organizations continue to rely on data for decision-making, the demand for business analysts will continue to grow, leading to higher salaries. Business analysts looking to maximize their earnings should aim to gain more experience, choose high-demand industries, and take on more significant job titles.
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