Wednesday, 15 February 2017

Business Analysis – Career Options

There are 3 common types of business analysis positions which are profiled in detail...
Budget Analysts:
Budget analysts study the spending habits and related data of companies and public institutions to determine how capital should be spent to ensure maximum profitability. While they do not make final decisions regarding budgets, their expertise is strongly valued by managers and government officials. Employers typically require that budget analysts possess a bachelor's degree, although many prefer candidates with their master's degree. According to the U.S. Bureau of Labor Statistics, the average salary for this career in May 2015 was $75,150. Between 2014 and 2024, job prospects are expected to increase by 3% – 5%
Financial Analysts:
Financial Analysts, also referred to as securities or investment analysts, offer advice on investment decisions. Many of these analysts choose to focus on specific products, industries or markets, in order to make themselves more hirable. Obtaining a bachelor's degree is the most typical path to employment, although a master's will qualify candidates for higher positions. The average salary of financial analysts was $95,320 in May 2015, according to the U.S. Bureau of Labor Statistics. Jobs in this field are predicted to increase by 12% between 2014 and 2024.
Management Analysts:
Management Analysts or management consultants, work with the heads of businesses to improve efficiency and ultimately, profitability. Unlike the other two types of analysts listed in this section, management analysts are more likely to work as freelance consultants. Bachelor's degrees are typically expected of these professionals, while the most successful usually obtain their Master of Business Administration (MBA). In May 2015, the U.S. Bureau of Labor Statistics reported an average salary for these professionals of $91,770. Job opportunities are predicted to increase by 14%.

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