In the year 2024, Business Analysts Salary in India is a subject of keen interest. These professionals play a pivotal role in aiding companies to make data-driven decisions, thereby commanding competitive remuneration packages. India, with its ever-growing demand for skilled analysts, continues to offer abundant job opportunities in this field.
The average Business Analyst Salary ranges between ₹ 2.7 Lakhs to ₹ 11 Lakhs in India. However, with a substantial increase in years of experience, the Business Analyst Salary can go up to INR 15 LPA. Some top-paying companies in India for Business Analyst are Amazon, JP Morgan Chase, and HSBC Group.
Business Analyst Average Salary in India in 2024
Business analysts are needed a lot in India and around the world. They help companies make good decisions with data. Because of this, they get good pay and lots of job options in India and worldwide.
As of 2024, the average Business Analyst Salary in India stands at ₹6.6 Lakhs per annum. This figure, when broken down, translates to an estimated monthly income ranging between ₹50,850 to ₹52,100. However, it’s noteworthy that a Business Analyst’s earning potential is dynamic and evolves with experience.
Business Analyst Salary Based on Experience
For those commencing their careers, with 0 to 1 year of experience, the Entry Level Business Analyst can expect an annual salary of ₹4.01 Lakhs. As they progress into the Early Career phase, which spans 1 to 4 years, the average salary elevates to ₹5.5 Lakhs annually. For those reaching the Mid Career stage, 5 to 9 years of experience leads to a handsome ₹9.05 Lakhs per year. Late Career Business Analysts, with 10 to 19 years in the field, can anticipate a significant rise in their income to ₹13.63 Lakhs annually. The most seasoned professionals, with over 20 years of expertise, command an impressive ₹20.0 Lakhs annually.
Here is a list of average total pay of a business analyst based (which includes in-hand income, bonus and other salary components) based on experience:
| Experience | Level | Average salary per year |
| 0 – 1 years | Entry Level | ₹ 4.01 Lakhs |
| 1- 4 years | Early Career | ₹ 5.5 Lakhs |
| 5 – 9 years | Mid Career | ₹ 9.05 Lakhs |
| 10 – 19 years | Late Career | ₹ 13.63 Lakhs |
| 20+ years | Experienced | ₹ 20.0 Lakhs |
Business Analysts Salaries and Career Paths
Here is a list of all Business Analyst Career paths with their average salary and ranges.
| Role Name | Average salary per year | Range |
| Junior Business Analyst | ₹ 3.6 Lakhs | ₹ 1.7 Lakhs to ₹ 7.4 Lakhs |
| Associate Business Analyst | ₹ 5.4 Lakhs | ₹ 2.8 Lakhs to ₹ 11.0 Lakhs |
| Senior Business Analyst | ₹ 11.1 Lakhs | ₹ 4.6 Lakhs to ₹ 23.0 Lakhs |
| Lead Business Analyst | ₹ 17.0 Lakhs | ₹ 8.2 Lakhs to ₹ 30.0 Lakhs |
| Business Analytics Manager | ₹ 16.0 Lakhs | ₹ 7.0 Lakhs to ₹ 33.0 Lakhs |
Business Analyst Salary Based on Company
The average salary of business analysts in leading MNCs and startups in India is as follows:
Business Analyst Salary in Top MNCs in India
| Company name | Average salary per year |
| Amazon | ₹ 11 Lakhs |
| JPMorgan Chase | ₹ 13 Lakhs |
| HSBC Group | ₹ 13.1 Lakhs |
| Societe Generale | ₹ 14 Lakhs |
| American Express | ₹ 8 Lakhs |
| Capgemini | ₹ 8.7 Lakhs |
| Deloitte | ₹ 7.8 Lakhs |
| Cognizant | ₹ 8.6 Lakhs |
| IBM | ₹ 8.1 Lakhs |
| Infosys | ₹ 8.5 Lakhs |
| Shell | ₹ 20 Lakhs |
| Barclays | ₹ 12.8 Lakhs |
| FIS | ₹ 10 Lakhs |
| Amdocs | ₹ 12.2 Lakhs |
| Credit Suisse | ₹ 15.7 Lakhs |
| Novo Nordisk | ₹ 11.8 Lakhs |
| EY | ₹ 8 Lakhs |
Business Analyst Salary in Top Startups in India
| Company name | Average salary per year |
| Oyo rooms | ₹ 10.7 Lakhs |
| Zomato | ₹ 10.5 Lakhs |
| Paytm | ₹ 8.4 Lakhs |
| Swiggy | ₹ 14.3 Lakhs |
| Razorpay | ₹ 7.5 Lakhs |
| Groww | ₹ 16.4 Lakhs |
| Ola Cabs | ₹ 12.2 Lakhs |
| Blinkit | ₹ 8.4 Lakhs |
| InMobi | ₹ 10 Lakhs |
| Meesho | ₹ 16 Lakhs |
| Pine Labs | ₹ 7.9 Lakhs |
| PharmEasy | ₹ 14.4 Lakhs |
Business Analyst Salary Based on Location
| City name | Average salary per year | Range |
| Bangalore | ₹ 7.2 Lakhs | ₹ 3.1 Lakhs to ₹ 16.0 Lakhs |
| Pune | ₹ 7.2 Lakhs | ₹ 2.9 Lakhs to ₹ 16.0 Lakhs |
| Mumbai | ₹ 7.0 Lakhs | ₹ 3.0 Lakhs to ₹ 15.0 Lakhs |
| Chennai | ₹ 6.0 Lakhs | ₹ 2.4 Lakhs to ₹ 13.5 Lakhs |
| Hyderabad | ₹ 6.7 Lakhs | ₹ 3.0 Lakhs to ₹ 14.5 Lakhs |
| Kolkata | ₹ 6.0 Lakhs | ₹ 2.1 Lakhs to ₹ 13.0 Lakhs |
| Gurugram | ₹ 7.0 Lakhs | ₹ 3.5 Lakhs to ₹ 15.4 Lakhs |
| Noida | ₹ 6.3 Lakhs | ₹ 3.0 Lakhs to ₹ 13.7 Lakhs |
| New Delhi | ₹ 6.1 Lakhs | ₹ 3.0 Lakhs to ₹ 14.0 Lakhs |
Some Popular Business Analyst Profiles in India
| Profile | Description | Salary per year |
| Financial Business Analyst | Conducts data processing, financial modeling and automationPossess strong understanding of finance business processes, financial reporting, and forecasting | Average- ₹ 7.0 Lakhs Range- ₹ 2.6 Lakhs to ₹ 19.0 Lakhs |
| IT Business Analyst | Gather data insights to improve software-based practices of a company experienced in creating user stories, writing functional specifications, and gap analysis. | Average- ₹ 7.0 Lakhs Range- ₹ 3.0 Lakhs to ₹ 18.0 Lakhs |
| Healthcare Business Analyst | Analyze, plan and recommend improvements for business/quality processes in healthcare firmsPrior understanding of health industry processes is a must | Average- ₹ 7.0 Lakhs Range- ₹ 3.0 Lakhs to ₹ 13.6 Lakhs |
| Retail Business Analyst | Gather requirements, and explain business and software functionalities to CPG and supply chain customers functional design and business scenarios for retail and ecommerce organizations | Gather requirements,and explain business and software functionalities to CPG and supply chain customers functional design and business scenarios for retail and ecommerce organizations |
Business Analyst Salary: Based on Skills
Some of the topmost skills for business analysts and their salaries are:
| Skill | Average salary per year |
| Requirements Analysis | ₹ 7.13 Lakhs |
| Business Analysis | ₹ 6.9 Lakhs |
| SQL | ₹ 6.53 Lakhs |
| Project Management | ₹ 6.42 Lakhs |
| Microsoft Excel | ₹ 5.99 Lakhs |
Factors Impacting Business Analyst Salary in India
The salary of a business analyst in India is determined by several critical factors. Firstly, education plays a pivotal role, with candidates holding degrees in business or analytics-related fields like MBA or postgraduate diplomas in business analytics enjoying an advantage. Certification courses in business analysis also signify specialized knowledge and can boost earning potential.
Experience is another significant factor, as experienced business analysts often command higher salaries due to their in-depth practical knowledge and ability to implement analytics practices effectively. The type of company and the industry it belongs to also influence salaries, with sectors like finance, IT, and healthcare typically offering more competitive compensation.
Moreover, the location of the company significantly impacts salaries, with cities like Pune and Bangalore offering higher salaries compared to cities like Mumbai and Delhi. The specific job profile and acquired skills further determine a business analyst’s earning potential. Keeping skills up-to-date with industry trends, such as SAS BI and predictive analysis, is crucial for earning a higher income.
Business Analyst Salary in Other Countries
| Country name | Average salary per year |
| USA | Average base pay- $94,836 Additional cash compensation- $8,641 – $16,130 |
| UK | Average Base Pay- £54,397 Additional cash compensation- £2,393 – £9,206 |
| Canada | Average Base Pay- $65K – $97K Additional cash compensation- $3,014 – $10,269 |
| Australia | Average Base Pay- A$1,10,000 Additional cash compensation- A$5,500 – A$15,000 |
| Germany | Average Base Pay- €50K – €64K Additional cash compensation- €3K – €7K |
| France | Average Base Pay- €51,000 Additional cash compensation- €2,000 – €8,000 |
| UAE | Average Base Pay- AED 324,000 Additional cash compensation- AED 7,000 – AED 25,000 |
FAQs About Business Analyst Salary in India 2024:-
1. What is the average salary for a Business Analyst in India in 2024?
The average Business Analyst salary in India in 2024 is ₹6.6 Lakhs per annum.
2. How does a Business Analyst’s salary change with experience?
A Business Analyst’s salary increases with experience. Entry-level professionals can earn around ₹4.01 Lakhs per year, while those with 20+ years of experience can command ₹20.0 Lakhs per year.
3. What are some of the top-paying companies for Business Analysts in India?
Some of the top-paying companies for Business Analysts in India include Amazon, JPMorgan Chase, and HSBC Group, with average salaries ranging from ₹11 Lakhs to ₹13.1 Lakhs per annum.
4. Which cities in India offer the highest average salaries for Business Analysts?
Bangalore and Pune are among the cities with the highest average salaries for Business Analysts, at ₹7.2 Lakhs per annum.
5. What is the salary ranges for different types of Business Analyst profiles, such as Junior, Associate, Senior, and Lead Business Analysts?
Junior Business Analysts can earn between ₹1.7 Lakhs to ₹7.4 Lakhs, while Senior Business Analysts can earn between ₹4.6 Lakhs to ₹23.0 Lakhs annually, depending on experience and expertise.
6. How do specialized roles like Financial Business Analyst and IT Business Analyst compare in terms of salary?
Specialized roles like Financial Business Analysts and IT Business Analysts can earn anywhere between ₹2.6 Lakhs to ₹19.0 Lakhs per annum in India.
Conclusion
In conclusion, a Business Analyst’s salary in India is influenced by various factors, including experience, company, location, job profile, and skill set. Staying updated with the latest industry trends and acquiring specialized certifications can further enhance earning potential in this dynamic and promising field.
