When a company wants to maximize their profit or efficiency, they call in a business analyst. Maximizing the potential of the company can be achieved by streamlining operations, rewriting budgets or adding investments to the company’s portfolio, such as stocks. This field has three main sectors: financial analyst, management analyst and budget analyst.
A management analyst focuses on finding ways to maximize profit and efficiency by streamlining a company’s operations. The average salary in this sector is C
$81,000. Financial analysts provide advice on a company’s investments, and can expect a salary of around C
$83,000 per year. A budget analyst makes a company’s budget as efficient as possible by allocating resources in the best way possible. The salary for this position is on average C
$66,000.
A bachelor’s degree is the minimum requirement to get into this field, with studies in finance, business, statistics, accounting and economics favoured. Regardless of the specific subgenre, business analysts usually take ongoing education courses to keep up with the latest developments. Work experience is extremely valuable in this field. With each year of experience, salaries are expected to rise.