August 2023 - Market Insights - Business Analyst jobs in the United States

Welcome to our second edition of Business Analyst job market summary

A deep dive into the business analyst job market, where we analyse our job openings and trends for the month.

There's a lot of uncertainty in the air, so we're hoping to provide valuable insights and answers to your most pressing questions about state of the business analyst job market.

For that, we will only be using data gathered from job opportunities listed on our site, BusinessAnalyst.com - we're not using any external benchmarks, nor data points.

So, let's dive right in.

Business Analyst job market summary in August, 2023 for the United States

Total number of jobs posted: 101

What were the top 3 industries hiring business analysts?

1. Financial, Tech (17)
2. Other (12)
3. Consulting, Healthcare (7)

How many years of experience are companies currently looking for?

1. Entry Level, 0 - 3 years of experience (13 business analyst jobs)
2. Mid Level,  3 - 5 years of experience (40)
3. Senior Level, 5 - 10 years of experience (48)

Are business analysts expected to work remotely, onsite or in hybrid ways of working?

1. Hybrid (41)
2. Remote (32)
3. Onsite / In-office (28)
   

What is the average business analyst salary?

• For entry level business analyst, the average salary was $83,000
• Those looking for a senior business analyst position, the average salary offered was $98,000 - considerably higher than $93,700 in July.
• Leadership level business analysts, are currently looking at $116,000, which was lower than $121,000 in July.

These numbers are probably too abstract, so how about we look at them in a little bit more detail.‍

Entry level business analyst jobs summary (0 - 3 years of experience)

For those who are looking to start as a business analyst, or with couple of years of experience under their belt we have seen 13 open positions available (this was on a lower side, 13% of the total amount of roles posted).

Jobs are being listed across industries, with the retail sector being the most prominent one.

When it comes to salaries, the minimum starting salary we've seen was at $45,000, going as high as $160,000 annually, with the range being more extreme than in July, where it was at $55,000, going as high as $125,000 annually.

The usual average salaries are in the $72,600 - $93,000 range.

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Senior business analyst salary jobs summary (3 - 5 years of experience)

Typically, more experienced analysts will work as senior business analysts - such roles will see you taking ownership of the business processes within your organisation, and usually these roles require between 3-5 years of experience.

We've seen 40 open positions available, which was 40% of the total listed on the site.

The starting salary is understandably higher than at an entry level, particularly on the "up to" level - starting salary was at $59,500, going as high as $175,500 annually.

Financial and Healthcare companies were most active in their hiring efforts, with 9 and 7 mid-level business analyst opportunities.

The usual average salary is in the $81,500 - $115,000 range.

Lead business analyst salary jobs summary (5 - 10 years of experience)

A senior / lead business analyst is usually a team leadership position that commonly requires at least five years of experience, as such there's usually little bit less opportunities on the market, as these roles don't only require individual performance, but also leadership skills.

We've seen 48 open positions available, at around 48% of all the jobs posted, forming the majority of roles listed on the site in August.

The minimum starting salary was at $56,500 and going as high as $238,000 annually.

The usual average salary is in the $94,000 - $139,000 range, with the Tech and Consulting sectors leading the number of job postings opened, with 11 and 8 opportunities respectively.

Final thoughts

The trend of offering employees more flexibility, and integrating work from home policies is continuing.

We are seeing almost 72% of the positions allowing for at least a few days of remote working, with 32% of jobs being fully remote.

On the salary note, we can see that the ranges provided leave a lot of room for negotiations. Particularly it shows there's a lot of unknowns when it comes to determining the salary that company is looking to offer, and what the fair market rate for the role actually is.

Next Up:

That's a wrap for our August market summary report - you can expect the next edition in early October.