The cost of becoming a business analyst is very much dependent on which route you take into the role. It’s actually possible to become a business analyst after getting a start in another job such as data analysis or systems analysis. If this is the case then it does not usually cost anything to progress into your new role. On the other hand, it may be necessary to gain qualifications from providers such as Upskilled, to help you get the job you want and this can cost money. The cost of doing this can run into several thousands of dollars, but the rewards can be great.
There are many courses you can consider taking which will help you get that career as a business analyst that you want. The best course of action for you depends on your current situation. We are going to take a look at the role of a business analysts and what it may take to help you become one.
What does a business analyst do?
The basic principal behind the role of a business analyst is to use a methodical process to analyse the business and suggest areas for improvement and how profits can be maximized. As you can imagine the role can involve different things depending on what sector the analyst is working in. If you undertake a role as a business analyst you will find yourself using all the available data and methods to collect and study the data you need in order to make informed recommendations. You should have the skills required to do this, including:
- Good listening skills.
- The ability to multi-task.
- The ability to embrace change.
- Highly developed prioritization skills.
- Excellent negotiation skills.
Many people develop these over years in other roles before they commence work as a business analyst. It’s very unusual for a business analyst to commence work in that role straight from university. That being said, a degree is usually required if you want to become a business analyst.
How can you become a business analyst?
We have told you about the skills you need if you want to work as a business analyst. Many people develop, these skills over time, working in roles such as financial analysis. If you are moving from one field to another then you may also want to take an additional qualification, costing around AU$4,000 to AU$5,000, depending on the course you take.
It’s worth noting that to obtain a job as a business analyst you should also have a relevant degree, such as accounting, management or technology. If you are keen to commence working as a business analyst, and you have right skills and qualifications, then you can expect to earn a salary of around AU$59,000 to AU$126,000, depending on experience, expertise and the role itself. This is a decent salary which makes up for any investment necessary to gain relevant qualifications.
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