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How to Become a Business Analyst - Career Salaries, Job Stats & Education

How to Become a Business Analyst - Career Salaries, Job Stats & Education

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/ How to Become a Business Analyst - Career Salaries, Job Stats & Education

Looking For a Career as a Business Analyst? 

If you’d like to boost your impact in the business world, becoming a certified Business Analyst is an empowering next step. Enhance your skills and build knowledge and confidence to drive your career forward with access to a broad range of Open Colleges’ qualifications, most of which are formally accredited with ASQA to meet national standards. This means your qualification is recognised across Australia. You can gain the specific skills you need to become a certified business analysis professional across many exciting fields.

What is a Business Analyst?

Business Analysts work with users to develop documentation and system plans, formulate system requirements, review existing system and to develop and modify systems to meet the needs of the business. 

Duties of a Business Analyst

  • formulating and documenting business requirements
  • identifying, reviewing and analysing business processes
  • understanding inefficiencies and recommending optimum practices for the business based on behaviour and functionality of the system
  • deploying functional solutions to be used by system developers
  • providing advise and assistance in system project decisions
  • using data and process modelling techniques to generate system specifications for design and development of system software
  • developing training documentation for users and also conducting formal training classes. 

Business Analyst Job Outlook & Career Prospects

Business Analyst

The graph shows historical and projected (to 2024) employment levels (thousands) for Business Analysis Professionals.

Source: Job Outlook Government website. ABS Labour Force Survey, National Skills Commission trend data to May 2019 and projections to 2024.

Through the years to 2024, the number of job openings for this occupation is expected to be around 49,300. 

Business Analyst Salary: What Will You Earn?

 

Business Analyst salary

This chart shows median weekly earnings for ICT Business Analysts compared with the median across all occupations. 

Full time Business Analysts earn around $2,274 per week (higher than the average of $1,460)

Source: Job Outlook Government website. Source: ABS  Survey of Employee Earnings and Hours, May 2018, Customised report. 

Note: These figures are indicative and cannot be used to determine a particular wage rate. For roles in this occupation rates of pay will vary depending on the type of business and the type of environment.

Weekly work hours of a Business Analyst

Full- time workers spend around 42 hours per week at work (compared to average of 44 hours)

Source: Job Outlook Government website. 

Business Analyst Age Profile

Business Analyst Age

Source: Job Outlook Government website. ABS Census 2016, Customised Report. 

Business Analyst Education 

Business Analyst Education

As the chart shows, a Bachelor degree is the most common level of education attained by people in this profession (47.6 per cent), however a high number of professionals in the field go on to further their education by attaining Graduate Diplomas or Graduate Certificates (10.1%)

Source: Job Outlook Government website. Source: ABS Census 2016, Customised Report

Pathways to becoming a Business Analyst

Career pathways to becoming a business analyst in Australia usually involve a mix of VET or university qualifications in business and work experience. Diploma and Certificate level courses may help you to begin your Business analyst career or move onto further study. 

What qualification do you need to be a Business Analyst?

Diploma of Business

A comprehensive and all-round course to get your foot in the door of a business career. The BSB50215 Diploma of Business provides a cutting-edge snapshot of the current business world. You’ll develop the skill-set required by the modern company, including knowledge of project management, human resources and online business. Plus, this course opens up pathways with several major Australian universities.

Certificate IV in Business

This course will help you develop a wide range of business skills and give you tools in communication, customer service, finance, management and marketing. Throughout this course you'll learn how to conduct market research and support the marketing activities of a business, plus you’ll gain a nationally recognised BSB40215 Certificate IV in Business.

Certificate IV in Business Administration

The next step up for the career administrator, BSB40515 Certificate IV in Business Administration provides high-level administration skills to efficiently manage office professionals. Learn how to organise business travel, arrange meetings, coordinate business resources and implement environmentally sustainable workplace practices, amongst many other skills. This course also provides a great pathway to ongoing studies.

Certificate IV in Business Administration ( with Finance electives)

With a focus on financial skills, this is an all-round course BSB40515 Certificate IV in Business Administration (with Finance Electives) will prepare you to take on a variety of in-demand office administration roles. By combining a finance component with business administration, you’ll have skills and insider knowledge that will keep your job in-demand and interesting. This is simply a great all-round qualification and a real way to get ahead.

Dual Qualification: Certificate IV in Business Administration and Certificate IV in Leadership and Management

This dual qualification will give you leadership and management and business administration skills, and could give you a business advantage over other potential candidates. The course is ideally suited to those already working and wishing to advance their careers or to new supervisors and team leaders wanting to build the requisite skills.

Certificate III in Business Administration

A professional and diverse introductory course that will give you all the basic knowledge you need to perform as a top-level business administrator. The BSB30415 Certificate III in Business Administration arms you with skills such as payroll, keyboard and computer functions, scheduling, creating presentations, spreadsheets, and much more. Build your confidence in a wide area of business applications, particularly if it’s been some time since you worked in a similar role.

Certificate IV in Entrepreneurship and New Business

This accredited course has been specifically developed to help aspiring business owners and managers establish sound frameworks for their small businesses. The BSB40320 Certificate IV in Entrepreneurship and New Business is a nationally recognised qualification and provides a solid foundation for managing a small business. Amongst many other skills, you'll learn about legal and risk management requirements, legislation and regulatory requirements and how to develop a financial plan.

Certificate IV in New Small Business and Certificate IV in Marketing and Communication 

Add marketing expertise to your small business management skills to get a head start against the competition, without extended costs or study time. Designed for small business owners and managers wishing to acquire marketing skills, as well as those moving into digital marketing or sales role within a small business, this dual qualification offers students two complementary skill-sets without doubling their time and cost investment.

Why Study Business through Open Colleges?

Our Business courses are delivered online, giving you the flexibility of organising your study around your life. You can enrol anytime of the year and study at your own pace. Read up on some business tips and advice from Australia’s leading business experts.

You’ll learn fundamental and advanced business concepts on top of gaining industry relevant qualifications that suit your pathway and career goals. We’ve partnered with numerous reputable and established industry players to ensure our students learn from the best minds in the sector. Gain an insight into success through the eyes of some of Australia’s most high profile business women here.

Your course includes comprehensive student support to help you throughout your study. See our infographic for a snapshot of the business industry so you can start planning your own exciting career in business.

Trends and Facts in the Business Industry

Last year, the Australian Bureau of Statistics released new figures that demonstrate that Australian businesses of all sizes are growing. There are now fewer businesses that have fallen into the “ceased trading” category this financial year compared to last year, when compared to the year before. (ABS Media Release: Business numbers on the rise again).

Interview with a Business Professional

Suzi Dafnis

CEO & Founder

HerBusiness 

The beginning of Suzi's career in Business - from Business Professional to CEO 
 
Suzi Dafnis is the founder and CEO of the HerBusiness, formerly known as the Australian Businesswomen's Network. A recognised blogger, podcast host, media commentator, social media instructor, public speaker and long-time digital marketer, Suzi is an advocate for education and entrepreneurship amongst women. She has founded businesses in Australia and overseas.

"What would you do even if you didn't get paid?"

What has been your number one secret to career success?

Education - An ongoing commitment to improving my business skills. Inspiration - access to inspiring role models. Mentoring - the wisdom of mentors and advisors.

What advice would you offer in terms of how to select a career path?

What would you do even if you didn't get paid? What do you value most? Where do you feel you can make a difference? Ask yourself these questions and take that direction. Be prepared to make mistakes and to change course.

Have you changed careers at any point? Please tell us in brief about your personal career journey.

I went from various marketing roles to a business owner at age 27. This was a HUGE difference as suddenly I had to learn new skills quickly and learn how to make money off my own efforts.

What did you study? What role has your education played in shaping your career?

Marketing, media and communications. Education continues to be key to my development and success. Markets change and trends change so you can't sit still when it comes to your knowledge.

How can we encourage and support more female entrepreneurs in Australia?

Promote entrepreneurship as a career option in school and start to train on the basics of running a business, instead of only steering people towards careers as employees.

What inspired you to start your business, HerBusiness?

We're an online publisher and education provider so our website and blog are our main communication tool with our clients and prospects. Our award-winning HerBusiness Blog allows us to showcase the talent of great female entrepreneurs.

Ready to take the next step towards your career?

As a certified Business Analyst you’ll have a firm footing in the real world when it comes to understanding the changing needs of a business, be it managing your own business, jumping on board with a start-up, or using your knowledge and skills to support an established firm.

 If you’ve been thinking about changing careers, snagging that promotion, or if you want to drive your Business career to the next level, take the plunge today!

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