Junior Business Analyst Job Description
From information technology to financial services, junior business analysts support business executives by providing market research and using industry data to improve processes within their organization and for their clients. Junior business analyst duties vary due to sector and experience level. However, all analysts must possess the ability to interpret facts and complex figures to help management teams overcome everyday business challenges.
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Function
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Junior business analysts collect, analyze and store information, as well as help plan, design, program, test and implement client projects. These projects can range from helping a client implement a new software system, to assessing the performance of a particular service or product line. In addition to harnessing this data in internal databases, junior business analysts generate reports that deliver data such as company performance, user behavior, project expenses and employment rates. While senior business analysts use this intelligence to formulate complex business plans and recommendations for customers, junior business analysts support their supervisors by documenting the clients’ business requirements, internal processes and organizational structure.
Education
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Companies require that junior business analysts hold at least a bachelor’s degree. Since junior business analysts can be found across all industries and department functions, majors differ depending on sector and role. However, firms usually prefer that candidates hold a bachelor’s or master’s degree in a major related to their industry. Common majors that help prepare candidates for an analyst position with a corporation or government agency include economics, human resources, information technology, statistics, computer science, accounting and business administration.
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Skills
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It is essential that junior business analysts have strong problem-solving, mathematical and analytical skills. Junior business analysts should have an aptitude for computer technology and be proficient in spreadsheet, word processing and presentation software. Some employers prefer candidates with basic knowledge of HTML, Internet research and computer server architectures. Junior business analysts should also be excellent writers, presenters, project managers and critical thinkers, and work well with people.
Salary
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According to SimplyHired.com, the average junior business analyst salary was $63,000 as of June 2010. Indeed.com states that the average annual wage for junior business analysts was $72,000, according to its June 2010 report.
Potential
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The Bureau of Labor Statistics (BLS) “Occupational Outlook Handbook, 2010-11 Edition” reports that management analysts or professionals who recommend ways in which companies can improve their market performance will be in high demand between 2008 and 2018. According to the BLS, jobs for this field will increase 24 percent due to factors such as advancements in information technology, government regulations and the growing popularity of electronic commerce.
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References
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