What Is a Good Salary for an Analyst?
The question of what is an appropriate salary for an analyst has no easy answer, given the wide variety of jobs with the title of analyst. Analysts work in computer systems, operations research, management, marketing, finance, public policy and more. Salaries for analysts differ across occupations, as well as the employers and business sectors for which they work.
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Computer Systems
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The reliance of businesses, government agencies and other organizations on computers means plenty of job opportunities for systems analysts, who analyze companies' computer problems and needs, and develop solutions. Systems analysts earned an average of $81,250 per year in 2010, according to the U.S. Bureau of Labor Statistics. Some analysts earned even more, with top earners' salaries averaging $119,070. Systems analysts in computer and data processing firms earned more than their counterparts in insurance carriers and government agencies.
Operations Research
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Operations research analysts work in government and many sectors of business, applying statistical models and analyzing large sets of quantitative data to help organizations solve problems and set policy. Most analysts in this field hold graduate degrees in management science, operations research, industrial research or economics. In 2010, salaries for operations analysts averaged $76,980 per year, according to the BLS. Salaries ranged from $39,920 per year for entry-level analysts to $122,750 for the highest-paid in this field. Operations analysts in manufacturing, securities brokerages and the federal government earned the highest salaries, the BLS reported.
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Financial Analysis
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Financial analysts use their research and data analysis skills to study balance sheets, earnings reports and other financial data from companies to determine the best investment choices. Financial analysts work in investment firms, business services, insurance carriers and brokerages, earning salaries that averaged $86,040 per year in 2010. The BLS reported that many financial analysts in investment firms receive annual bonuses in addition to their base salaries. Some leading financial analysts earn yearly compensation well above the $86,040 average, according to BLS data.
Management Analysts
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Management analysts often work as consultants, analyzing companies and other organizations to help them operate more efficiently and evaluating public sector programs for government agencies. Annual salaries for management analysts averaged $87,260 in 2010, according to the BLS. Analysts employed by management consulting firms, which employed the majority of professionals in this field, earned even more, averaging $98,500 per year.
Market Researchers
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Market research analysts study sales and survey data to gauge consumer preferences. The information helps companies plan sales strategies. Market researchers earned an average of $66,850 per year in 2010, the BLS reported. Annual salaries ranged from $33,350 to $111,440, with analysts in semiconductor and computer firms earning the most.
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References
- Bureau of Labor Statistics; Occupational Employment Statistics; Computer Systems Analysts
- Bureau of Labor Statistics; Occupational Employment Statistics: Operations Research Analysts
- Bureau of Labor Statistics; Occupational Employment Statistics: Financial Analysts
- Bureau of Labor Statistics; Occupational Employment Statistics: Management Analysts
- Bureau of Labor Statistics; Occupational Research Statistics: Market Research Analysts
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