October 2023 - Market Summary - Business Analyst jobs in the United States

Welcome to our 4th 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 October, 2023 for the United States

Total number of jobs posted: 105

What were the top 3 industries hiring business analysts?

1. Financial (20)
2. Tech (18)
3. Manufacturing (12)

How many years of experience are companies currently looking for?

1. Entry Level, 0 - 3 years of experience (21 business analyst jobs)
2. Mid Level,  3 - 5 years of experience (51)
3. Senior Level, 5 - 10 years of experience (33)

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

1. Hybrid (44)
2. Remote (35)
3. Onsite / In-office (26)
   

What is the average business analyst salary?

• For entry level business analyst, the average salary was $76,800
• Those looking for a senior business analyst position, the average salary offered was $95,500, considerabily lower than 101,00 in September.
• Lead business analysts, are currently looking at $110,000.

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 21 open positions available in the US (this was on a lower side, 20% of the total amount of roles posted).

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

When it comes to salaries, the minimum starting salary we've seen was at $38,000, going as high as $124,7500 annually

The usual average salaries are in the $66,124 - $87,492 range.

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 51 open positions available, which was almost halfof 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 $54,000, going as high as $205,000 annually.

Financial companies were most active in their hiring efforts, with 6 business analyst opportunities opened each.

The usual average salary is in the $80,300 - $110,559 range.

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

A 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 33 open positions available, at around 31% of all the jobs posted.

The minimum starting salary was at $61,850 and going as high as $246,000 annually.

The usual average salary is in the $93,155 - $126,205 range, with the Financial sectors leading the number of job postings opened, with 8 opportunities.

Final thoughts

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

We are seeing almost 75% of the positions allowing for at least a few days of remote working, with 33% 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 October business analyst market summary report - you can expect the next edition in early December.

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