Business analytics is a diverse domain comprising multiple elements that business owners look up to leverage revenue and growth. Business analysts are in high demand worldwide, especially in countries like the USA, Singapore, UK, Australia, Japan and so on. Currently, there are more than 22,000 business analyst jobs in Singapore. These jobs are offered by various levels of enterprises, from fortune 500 companies to various promising startups.
Let us understand more about business analyst's roles and business analysts jobs in Singapore in our blog.
Who is a Business Analyst?
Business analysts are professional experts who work on business databases to obtain insightful processed data that assists businesses focus and aligning their business goals effectively. As most business analysts directly contribute to the company’s growth and vital decisions, they are in demand and also paid considerably high.
A business analyst’s work usually revolves around research, data mining, and visualization. Thus, it demands various critical behavioral and technical skills to get you an edge during an interview for business analytics jobs in Singapore. It is because business analytics often involves changes and variations in existing business models and processes.
Qualification for Business Analyst Jobs
If you are looking for entry-level business analyst jobs in Singapore, there are several basic qualification requirements you have to meet. Business analytics is a composite domain, and most recruiters look for candidates with a background in this area. So, we have curated a list of qualifications required for business analysts,
1. A business degree
For entry-level jobs, recruiters often look for a degree as the candidates often lack experience in business analytics. So, it is better to have a bachelor’s or a master’s degree in business administration, business management, marketing, finance, or a related field. If you are an undergrad (with a degree in a different domain), an MBA helps. You can alternatively take a Certified Business Analysis Professional Course if you do not have a degree in the prescribed areas.
2. Work experience
All senior business analyst jobs in Singapore demand a previous experience in business management and related domains. To attain work experience, you can volunteer in a role in startups and organizations that will eventually provide a work experience certification. Alternatively, if you have an existing role in one of the mentioned domains and looking for a career switch, you get access to intermediate and senior-level business analyst positions.
3. Basic Analytical Skills
Business analysts must possess a basic to advanced skill set, which usually comprises data identification, mining, processing, and presentation. However, there are other crucial skills like risk management, leadership, critical thinking, and problem-solving that recruiters will not compromise on.
How to Find Openings for Business analyst jobs in Singapore
Finding the right openings can be challenging if you are desperately looking for business analyst jobs in Singapore. Decoding this process, you must start with having your expectation list. This can comprise the city, pay scale, niche, and so on. Such filters can help narrow down your available options while finding openings for business analyst jobs. Once you have made your list, you can look for companies that suit your points and are now hiring business analysts. To do this, you can search across job portals. Here is a list of some best job portals to find business analyst jobs in Singapore,
- Indeed
- Jobstreet
- LinkedIn
- Glassdoor
- Recruit.net
- Page Personnel
Various types of Job roles as a Business Analyst
As jobs related to business analyst in Singapore are available across various industries and domains, you will find several job types as business analysts. We have curated a list of the most common business analyst job types in Singapore,
1. Business Analyst
A pure business analyst works on comprehending customer-driven business data, extracting insights from them, and working on business modifications and solutions to meet customer needs.
i. Business Analyst Responsibilities
Business analysts often have to work within complex business frameworks and focus on bringing productivity at work, improved sales, and business ROI with their interpretations. Here is a list of responsibilities they have,
- Examine and comprehend business requirements
- Extract and manage the business and customer databases
- Deconstruct and analyze processed data sets
- Arrive at business solutions and model modifications
- Visualise and present valuable insights
ii. Required Skills for Business Analyst
Business analysts require the following skills to perform proficiently,
- Communication skills,
- Decision-making skills,
- Negotiation skills,
- Analytical and critical skills,
- Problem-solving skills,
- Technical skills like data management, visualization, etc.
The average salary for Business Analyst in Singapore
Business analysts in Singapore earn an average annual salary of SGD 87,732 as the base salary. BAs in Singapore also get access to an additional monthly payment of up to $8,400.
2. RPA Intelligence Analyst
The various business analyst job opportunities in Singapore have opened doors to several job titles within this space. One such job type is the RPA intelligence analyst. RPA stands for Robotic Process Automation. RPA analysts deal with managing software human-mimicking robots.
i. RPA Business Analyst Responsibilities
Here is a list of responsibilities RPA analysts have,
- Identify software-related concerns
- Plan and implement RPA solutions
- Design the software systems and robotic operations
- Work with stakeholders and understand their concerns
- Analyse machine learning results.
ii. Required skills for RPA Business Analyst
Though RPA business analysts deal with data analytics, they require specific skills that pure BAs do not. For this, you can take a Business Management training program as well. Here are some of the required skills,
- Strategic planning,
- Automation skills,
- Core RPA skills,
- The combined knowledge of RPA and AI.
iii. The average salary for RPA Business Analyst in Singapore
RPA business analysts make a yearly earning of SGD 12,886. The pay ranges between SGD 6443 to SGD 28189.
3. Business Intelligence Analyst
Data insights covering the most recent market trends, patterns, and movements must be the emphasis of a business intelligence analyst. Intelligence analysts stick towards aligning business processes to the current market patterns and requirements. In particular, business intelligence analysts engage with descriptive analytics, whereas pure BAs do not.
i. Business Intelligence Analyst Responsibilities
Business intelligence offers the best business analyst jobs in Singapore. The following are the responsibilities of an intelligence analyst,
- Asses current market strategies and patterns
- Data mining and engineering
- Comprehending data insights
- Planning and implementing novel business solutions
ii. Required skills for Business Intelligence Analyst
Here is a list of skills that Business intelligence analysts must have,
- Data sourcing
- Data Engineering
- Situation awareness
- Decision-making and support
- Risk-management
iii. The average salary for Business Intelligence Analyst in Singapore
In Singapore, business intelligence analysts get average paid up to SGD 84,491 per year. More advanced positions can expect even up to SGD 1,00,000 or more.
4. Insurance Business Analyst
An insurance business analyst is able to understand how developments in the insurance industry affect a company. They primarily work with insurance analysis and documentation.
i. Insurance Business Analyst Responsibilities
Business analysts in the insurance industry must have adept domain knowledge and are required to carry out the following roles,
- Manage policy service and insurance claims.
- Accounting.
- Compare business insurance quotes.
- Soliciting business requirements.
- Extract rules and arrive at quality decisions.
ii. Required skills for Insurance Business Analyst
To thrive as an insurance business analyst, candidates must possess the following skills
- Subject and technical skills
- Management
- Facilitation
- Problem-solving
- Critical analysis
iii. The average salary for Insurance Business Analyst in Singapore
Insurance business analysts in Singapore earn SGD 58,644 per year on average. The maximum to expect would be SGD 1,44,000.
Companies Hiring for Business Analyst jobs in Singapore
Though there are several thousands of business analyst jobs in Singapore, it is necessary that you consider the companies that gives you the best of proffesional growth. The best companies offer both financial and professional growth. This could be a deciding factor for you since most companies only take experienced candidates while others accept entry-level candidates. So, here is a list of the top companies hiring for business analysts in Singapore,
| COMPANY NAME | AVERAGE ANNUAL SALARY (SGD) |
|---|
OCBC Bank | $1,49,074 |
Standard Chartered Bank | $1,63,120 |
Citi | $1,47,000 |
DBS Bank | $1,20,801 |
UBS | $1,45,781 |
Tata Consultancy Services | $1,17,368 |
EPAM Systems | $1,16,746 |
Nityo Infotech | $1,20,567 |
Industries Looking for Business Analyst Roles in Singapore
As a fresher looking for junior business analyst jobs in Singapore, it is first necessary to know what industries hire business analysts. The industry and niche will help you filter out job options. It is also to be noted that pay scales may vary between industries for a business analyst role. Here are some industries that offer business analyst jobs in Singapore,
1. Healthcare and administration
In the healthcare industry, a business analyst is essential to managing healthcare and administrative systems, enabling such organizations to make wise judgments. This is accomplished by carefully analyzing patient and visitor data, which is then applied to alter the business strategy and service offerings. Healthcare business analysts in Singapore have an average income of close to SGD 41,667 annually.
2. Insurance
Insurance sectors look for BAs to facilitate even cash flow and insurance sales. An insurance business analyst is able to understand how developments in the insurance industry affect a company. They primarily work with insurance analysis and documentation. In Singapore, the average annual salary for an insurance business analyst is SGD 58,644, and the maximum annual salary is SGD 1,44,000.
3. Finance
Business analysts in this sector work hard to provide insightful financial data that boosts company efficiency and returns on investment. Business analysts in finance must be able to work accurately with financial forecasts and reporting. Finance business analysts make an average of SGD 63,000 per year. Financial BAs are paid a minimum of SGD 35,000 and a maximum of SGD 1,35,000 annually.
4. IT
Information technology analysts look at and analyze a technology-based business's framework, procedures, and technological applications. They are heavily involved in important decision-making processes that affect introducing new software and technology products. A business analyst's annual salary in the information technology sector is SGD 60,943.
Certifications that Increase Chances of Employability in Business Analyst Roles
To stand out among competitors, it is preferable to undergo a Business Analyst training program. However, to get access to high-paying business analyst jobs having a globally-recognized certification is the best choice. Here is a list of certifications that will help you get a BA job in Singapore,
1. CBAP
This certification can give you access to the highest-paying jobs as a business analyst in Singapore. CBAP equips you with skills like effective planning, creating business solutions, and advanced business documentation. CBAP is the abbreviation for the IIBA's Certified Business Analysis Professional designation. The best applicants for this certification have prior experience in the area of business analytics.
2. CAP
It is a globally recognized certification for junior business analysts in Singapore. CAP, or Certified Analytics Professional. CAP awards you credit for your perception, analysis, and application of information systems. Being CAP certified shows recruiters that you have a solid grasp of GRC, often known as governance, risk, and accountability. Because of the wide areas it covers, CAP is the most preferred entry-level certification program.
3. CCBA
CCBA stands for certification in competency for business analysis. This certification program is for existing business analyst practitioners who want to demonstrate their expertise and deep skill sets. It helps master skills like business planning, strategy analysis, life cycle management, collaboration, etc.
4. ECBA
The ECBA Certification stands for Entry level certification in business analysis. Having the ECBA certification validates your mastery of the principles and readiness to pursue business analytics. Without any prior experience, candidates holding an ECBA certification are considered ready to start practicing business analysis.
Why is a Business Analyst Job Preferred in Singapore?
All businesses across the globe now have access to innumerable data. Thus, they are looking forward to making actionable plans out of the available databases. And Singapore is no exception to this. Being home to several top fortune 500 companies, Singapore provides indefinite business analyst jobs in Singapore for freshers. The commerce market of Singapore is nearly SGD 2.1 million and is expected to surge in the next few years. So the business analyst job market in Singapore will boom too. On that note, business analysts are turning in demand, and businesses are ready to offer them a competitive salary package. This makes Business analytics one of the desirable career options in Singapore and many other countries.
How to Become a Business Analyst in Singapore?
The future of business analyst jobs in Singapore is certain to surge. Though business analytics is an ever-green domain, becoming a BA can be challenging for many. To gain the greatest business analyst jobs in Singapore, you must complete a number of tasks.
You could choose to start with a bachelor's degree in business, marketing, or a related subject. However, if you are changing your career path, you might consider enrolling in an online course or training program. A qualification and certain sophisticated abilities could give you an advantage. Lastly, always be open to upskilling since it may bring up opportunities for better-paying jobs with room for advancement. If you are uncertain about relocating to Singapore, you can also look for business analyst online jobs in Singapore.
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Conclusion
Business analysis is a very lucrative job path. Singapore provides business analysts with a wide variety of job titles, a reasonably competitive income range, and opportunities for career advancement. To begin with, you can start surfing for the best business analyst jobs for freshers in Singapore on online portals. However, you must ensure that you are equipped with all the requirements mentioned. All you need to do to begin your business analyst career in Singapore is obtain the appropriate training, upskill, and develop your resume.
