The technological advancements that we are experiencing call for talented professionals that can gather data from technological disruptions and allow organizations to make sense of it. The best part is that students that are interested in becoming future business analysts can opt for a business analytics online degree. This allows them to study during free hours right from the comfort of their home while they do a part-time job alongside. Today, we shall look at the top reasons why pursuing a career as a business analyst is a great idea.
1. Leadership Posts
A Master’s program helps students develop problem-solving, analytical, and leadership skills, which makes them the best choice for management roles. Some business analysts have a strong sense of logic while others fare better in technical roles. A Master’s degree holder has both skill sets that allow them to come on top of those with a Bachelor’s degree. Their vast knowledge base and the ability to understand business needs are what make them fit to lead entire organizations.
With a Master’s degree, you can apply and qualify for a job role that you have always dreamed of. Your existing company will be more willing to allow you a senior post once you get a Master’s degree as most are not interested in offering training to employees themselves. Obtaining higher education not only makes you a strong candidate but also allows you to become competitive and become the top choice for an array of job postings.
2. Better Payouts and Increased Demand
If you wish to earn more as a business analyst, then the simplest way to do this is to get a Master’s in business analytics. Prior experience along with added knowledge makes you a valuable candidate to whom most companies are willing to pay a higher salary.
The average annual salary of a business analyst is $84,437. A bonus of $3,500 is also earned by most every year. These figures were deduced by looking at 6,000 salary reports in the United States on 16th November 2022. The Bureau of Labor Statistics (BLS) estimates that business career growth will be 7% between 2021 and 2031. Other job posts that share responsibilities with business analysts are also set to witness growth. For example, market research analysts will grow by 22% by 2030, operation research analysts by 25%, budget analysts by 5%, and management analysts by 14%.
3. Pursue a Career As a Consultant
If you do not wish to keep working at a business analyst post in a company, then you can obtain a Master’s to pursue consultancy. Doing so not only allows you to have your own career but also allows you to enjoy greater autonomy.
Greater knowledge and experience means you can work independently but can also guide and advise others. Even though students are taught most of the basic components in a Bachelor’s program, a Master’s degree helps polish this knowledge and makes students more confident. As a consultant, you can help businesses read, manage and understand data fields. You will also be able to help provide them with insights and identify patterns that an individual with a Bachelor’s degree working at their firm could not.
4. Develop a Strong Network
A Master’s degree in business analytics helps students learn new skills, polish existing ones, and gain an understanding of business frameworks. These individuals help businesses identify patterns and data that did not seem visible before. They make use of theoretical knowledge to find practical solutions. All of this makes them strong advisors, consultants, and instructors. As a solid instructor, you are also likely to build strong connections with industry experts.
- Working as an instructor or analyst at a firm allows individuals to create deep and meaningful connections. This can open up new paths and lead you toward greater job opportunities.
- Connections with professors, seniors, speakers, managers, and knowledgeable people in your industry expand your knowledge base and help you blend in better.
- Greater resources and trusted advisors mean you can always reach out to others for help in case you get stuck with a problem.
Previously, business analysts often opted out of Master’s programs if they were already hired. However, online degrees have made it easier to study without leaving your job. This has caused a rise in individuals that are interested in obtaining the degree.