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HomeBlogBusiness intelligence and VisualizationA Complete Guide to Business Intelligence Salary [2024]

A Complete Guide to Business Intelligence Salary [2024]

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23rd Apr, 2024
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    A Complete Guide to Business Intelligence Salary [2024]

    Business intelligence involves bringing together and examining information from disparate, both internal and external sources, to acquire knowledge. Data mining, data visualization, and predictive analysis are utilized to assess the data and attain viable outcomes. 

    Most companies depend on business intelligence professionals as it helps them know their competitors and be ahead of them in today’s competitive market. By the optimal use of data, they understand the needs of the organization and their customer base to drive growth and success. 

    With an estimated growth of USD 29.42 billion in 2024 to USD 54.27 billion by 2030, the Business Intelligence market is set to reach 9.1% CAGR by the end of 2030. The predicted growth rate implies one thing- an upcoming rise in the demand for Business Intelligence professionals and a promising, lucrative career. 

    Let’s dive in to learn more about Business Intelligence analysts, their roles and responsibilities, and finally, the offered salary figures to keep them motivated!

    Who Are Business Intelligence Analysts?

    As its title implies, a Business Intelligence Analyst is given over the task of evaluating business-related material and supplying useful observations which relate to the firm allowing organizational leaders to reach discernible conclusions. 

    Business Intelligence Analysts must inspect considerable volumes of figures from multiple origins like customer reviews, financial records, and trade tendencies amongst others with the help of enterprise analytical techniques and tools. 

    Their primary goal is to assist organizations in making informed financial decisions by providing accurate business assessments. This means they can operate in varied industrial domains and are habitually hired by companies that favour decision-making based on data. 

    They should have an inherent familiarity with statistics, data assessment, and company direction. Employing their aptitude helps these enterprises grow their overall performance. 

    What Do They Do?

    Business Intelligence Analysts are entrusted with several responsibilities. Here is a list of the tasks they perform:

    • Business Intelligence Analysts collect and analyze data from databases, spreadsheets, and data warehouses with the help of various tools. 
    • They develop metrics and Key Performance Indicators and track them from time to time. 
    • They provide insightful opinions after analyzing data to stakeholders and decision-makers. 
    • They ensure data accuracy by diligently checking and addressing any discrepancies that may arise through resolution efforts.
    • They collaborate with other departments to efficiently evaluate the needs and problems that the employees face and arrive at solutions. 

    If you want to establish yourself as a Business Intelligence Analyst, take the KnowledgeHut Business Intelligence Analyst and Visualization training. It will equip you with all the hard and soft skills necessary for a bright career in Business Intelligence (BI).

    Business Intelligence Analyst Salary in 2024

    If you wish to pursue a job as a Business Intelligence Analyst, you must take salary estimations into account. Below is a full guide on the various salaries one can expect depending on the place of work and level of expertise:

    Average Business Intelligence Analyst Salary 

    Average Business Intelligence Analyst Salary Per HourUSD 43.93
    Average Business Intelligence Analyst Salary Per MonthUSD 6,293
    Average Business Intelligence Analyst Salary Per YearUSD 75,516

    Business Intelligence Analyst Salary: Based on Experience

    As your experience in any field increases your chances of getting paid better. Business Intelligence is no exception. There are various levels in this field, too, and as you tread towards senior positions in terms of experience, you receive better pay packages. For example, a senior manager Business Intelligence Analyst's salary is higher than most other positions. 

    Beginner 

    A junior Business Intelligence Analyst salary, on average, is USD 66,375 per annum. 

    Intermediate 

    An intermediate-level Business Intelligence Analyst earns USD 71,150 per annum on average. 

    Advanced 

    An advanced Business Intelligence Analyst can earn up to USD 110,000 and beyond per annum. 

    Business Intelligence Analyst Salary: Based on Location

    India 

    CityAverage Salary Per YearCompany
    DelhiINR 1,603,878 annuallyMcKinsey & Company
    MumbaiINR 1,814,093 annuallyNetcracker Technology
    BengaluruINR 1,591,574 annuallyAmadeus

    United States of America

    CityAverage Salary Per YearCompany
    DallasUSD 126,401Wellington Management
    Los AngelesUSD 158,258USDM Life Science
    BostonUSD 127,991Janus Henderson Investors

    United Kingdom 

    CityAverage Salary Per YearCompany
    LeedsGBP 67,872Client Server
    ReadingGBP 65,890Post Office Ltd.
    LondonGBP 78,565Sanderson

    Australia 

    CityAverage Salary Per YearCompany
    CanberraAUD 136,432Kinexus
    SydneyAUD 131,014NSW Health
    Wagga WaggaAUD 131,939Precision Sourcing

    Canada 

    CityAverage Salary Per YearCompany
    TorontoCAD 94,501Defence Construction
    VancouverCAD 109,599NAV CANADA
    EdmontCAD 99,523Amazon

    Singapore 

    CityAverage Salary Per YearCompany
    Jurong EastSGD 139,176Standard Chartered Bank
    ClementiSGD 139,176Standard Chartered Bank
    SimeiSGD 139,176Standard Chartered Bank

    Business Intelligence Analyst Salary: Based on Industry

    Every industry has its own pay scale. There are certain industries that pay more than the rest to their employees. Here is a table enumerating the variations in pay scale based on the industry:

    IndustryAverage Salary Per Year
    FinanceUSD 89,715
    HealthcareUSD 96,611
    Business IntelligenceUSD 87,715
    Sharing Economy ServicesUSD 70,000

    Business Intelligence Analyst Salary: Based on Skills

    Skills largely affect Business Intelligence Analyst salary. Some skills are more in demand when compared to others. For example, a credible Data Visualization with Tableau course can help you get a better salary than others since it is a sought-after skill among Business Intelligence Analysts. Here is a guide on the percentage increase in salary you can expect if you have certain skills as a Business Intelligence Analyst:

    SkillsAverage Salary Per Year
    PythonUSD 83,248
    RUSD 123,147
    Power BIUSD 76,500
    SAS AnalystUSD 82,926
    TableauUSD 95,717
    AzureUSD 87,500
    Node.jsUSD 128,232

    Factors Affecting Business Intelligence Analyst Professional Salary

    Here are some of the factors that may affect a Business Intelligence Analyst salary:

    Location

    The location of a company has a direct effect on the Business Intelligence analyst Salary. The standard of living of an area and the availability of resources in the place concerned heavily influence the salary of a BI Analyst. 

    The United States of America pays the highest salary to Business Intelligence Analysts. The average Business Intelligence Analyst salary in the USA is USD 128,515 per annum. Australia pays the second highest salary. Switzerland, the Netherlands, and the United Kingdom also pay Business Intelligence Analysts well.

    Company

    Companies like Accenture, TCS, and Capgemini pay their Business Intelligence Analysts way more than other contemporaries. The revenues of smaller businesses are lower than tech giants. Hence, they cannot afford to pay as much as the giants. 

    Experience

    In any industry, employees tend to earn more with greater years of experience. The average salary of an entry-level Business Intelligence Analyst is somewhere around USD 66,375 per annum. This will increase as and when a person gains more experience. A senior Business Intelligence Analyst salary is around USD 108,373 per annum.

    Demand and Supply

    The demand for qualified business intelligence analysts has increased in recent years. However, the supply of qualified and skilled business intelligence analysts is relatively lower. This is why companies are ready to pay qualified analysts a hefty salary. Thus, in places where the demand is high, and supply is low, employees are likely to get paid better. 

    Certifications

    In today’s world, it is just not sufficient to have a college or university degree. Everyone must constantly upskill themselves to remain employable in the competitive market. There are many credible online as well as offline courses available that one can choose from. Business Intelligence Analyst and Visualization training is ideal to remain relevant in today’s job market.

    Since newer technologies are coming up every day, it is important for you to upskill yourself with newer technologies. These will help you remain employable and also increase your worth as a professional. A few important certifications for Business Intelligence Professionals are: 

    • Certified Business Intelligence Professional
    • IBM Data Analyst Professional Certificate
    • Microsoft Certified: Power BI Data Analyst Associate
    • SAS Certified Specialist: Visual Business Analytics
    • Tableau Certified Data Analyst

    Skills

    Business Intelligence Analysts must effortlessly handle several areas. They must have a diverse skill set to excel in their field and bag lucrative pay packages. Skills like data analysis, statistical analysis, project management, data visualization, programming, and coding are some of the most sought-after skills in Business Intelligence Analysts. 

    How to Improve a Business Intelligence Analyst Professional’s Salary?

    Skills

    Skills like data analysis, statistical analysis, data visualization, business communication, operations, and knowledge of programming languages like SQL, are highly sought after among Business Intelligence Analysts. 

    Certifications

    Certifications from reputed authorities go a long way to helping people climb the corporate ladder. You can get a Business Intelligence Analyst and visualization training certification from KnowledgeHut for excellent job opportunities and great pay packages.

    You could also consider taking up some more certifications, such as: 

    • Google Business Intelligence Professional Certificate
    • Tableau Desktop Specialist
    • Tableau Server Certified Associate
    • Microsoft Certified: Power BI Data Analyst Associate
    • QlikView Business Analyst. 

    Degrees

    A background in Data Science is the most helpful when it comes to a career as a Business Intelligence Analyst. You can get the best jobs after a Master’s degree in Data Science with additional certifications. There are also many companies that recruit candidates with a PhD in Business Intelligence as consultants. PhD holders are paid more than the rest in such cases. 

    Experience

    Most employers demand sufficient experience in the field of Business Intelligence before arriving at a decision. You could take up internships while pursuing your degree to get a good entry-level job. You should also consider working as a junior-level Business Intelligence Analyst for a few years to get promoted to the next level while upskilling yourself constantly. For example, a senior director Business Intelligence Analyst salary is higher because they need at least 10 years of experience to reach that position. 

    Become a certified master of business analysis with our prestigious cbap certification. Establish your expertise and open doors to limitless opportunities!

    Why Are Business Intelligence Analyst Professionals Paid So Much?

    Business Intelligence Analysts are rewarded with high compensation due to their exceptional combination of technical and business proficiencies, which are consistently sought after. Their primary responsibility involves analyzing and interpreting vast data sets to identify trends and patterns, enabling them to deliver their findings to stakeholders to facilitate optimal business decisions. 

    It's not just a matter of analytical ability: these experts must also possess strong commercial acumen and impeccable communication skills that enable them to collaborate across teams and foster positive relationships with shareholders. Due to the tremendous impact their opinions make on business outcomes, professionals in this field command impressive salaries across various industries.

    Final Thoughts

    It is evident from the projections and statistics that Business Analytics is a promising career for many. All companies have adopted a data-driven approach to make decisions and generate revenue. 

    It has also been made amply clear that the demand for skilled business intelligence professionals will only increase in every sector in the coming years. Not just the demand, the salaries are also likely to increase given the rapid advancement of technology. 

    Profile

    Utpal Kar

    Blog Author

    Utpal Kar, a seasoned Corporate Trainer, excels in conducting training programs encompassing Advanced Excel, Power BI, Python, SQL Server, and Unix/Linux technologies. Notably, he holds a Python Certification from LinkedIn, showcasing his proficiency in the domain. Currently serving as a Corporate Trainer at Innovative Technology Solutions, Utpal specializes in Python, VBA Macro, Advance Excel, Power BI, and PostgreSQL, along with a breadth of other languages like .Net and Java. Prior to this role, he made significant contributions at NIIT Ltd., providing technical support and solutions to Franchisee Centres. With over 4 years at Innovative Technology Solutions, Utpal remains dedicated to enhancing skill sets and driving performance for professionals across various industries.

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