Business analyst salary, duties & earnings in South Africa (2024)
Business analysts play a pivotal role in ensuring businesses in different sectors operate efficiently. Their duties are multi-faceted, and one must be qualified to ensure company processes are optimized. This article looks at business analyst salaries in South Africa and what it means to be a professional in the field.
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TABLE OF CONTENTS
The importance of a business analyst in an organization goes beyond profitability. They must be able to analyze both the micro and macroeconomic factors that can steer the company towards innovation and business continuity.
What is a business analyst's salary in South Africa?
The average business analyst's salary per month is estimated to be between R33,500 and R52,500, according to salary data from PayScale, Glassdoor, and Talent.com. The yearly pay ranges between R403,000 and R630,000.
Entry-level business analyst salary in South Africa
A junior business analyst's salary per month is estimated to be between R14,500 and R35,000, depending on the employer and location. The yearly pay ranges between R175,000 and R420,000.
The highest-paid professionals in the field take home between R54,000 and R58,000 per month. The highest annual pay is estimated between R650,000 and R705,000.
Business Analyst salary at FNB
The First National Bank pays business analysts between R36,000 and R51,000 per month, depending on their level of experience, according to Glassdoor. The average pay is estimated at around R40,000.
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Highest-paying cities for business analysts in South Africa
Professionals in the field have varying pay scales, depending on locations. The Indeed website reveals that Centurion in Gauteng is the highest-paying city in the country; business analysts here earn up to R64,900 monthly. Pretoria is second, with an average reported salary of R43,183 per month.
| City | Province | Estimated monthly pay |
| Centurion | Gauteng | R64,981 |
| Pretoria | Gauteng | R43,183 |
| Cape Town | Western Cape | R41,997 |
| Johannesburg North | Gauteng | R38,059 |
| Sandton | Gauteng | R37,764 |
| City Bowl | Western Cape | R35,859 |
| Midrand | Gauteng | R35,006 |
| Johannesburg | Gauteng | R33,316 |
| Northern Suburbs | Western Cape | R33,268 |
What does a business analyst do?
A business analyst is a professional who uses data to form business insights and recommend changes in the company. They ensure business efficiency and eliminate redundancies by identifying issues in any department of the organization. They find solutions to problems.
Their core duties and responsibilities are as highlighted;
- Compiling charts, tables, and other elements of data visualization
- Assessing evolving business ideas
- Identifying and prioritizing the organization's functional and technical needs and requirements
- Using SQL and Excel to analyze large data sets. Gather, review and analyze business and industry data, including KPIs, financial reports and other key metrics, using data analytics tools.
- Communicating recommendations for improving business operations with key stakeholders
- Creating financial models to support business decisions
- Understanding business strategies, goals, and requirements
What do business analysts study?
To become a business analyst, you need a bachelor's degree in business administration, business analytics, management information systems, or a related field, according to Forbes. You will also need hands-on experience and a certification in the field after graduation.
Globally recognized certification is usually provided by the International Institute of Business Analysis (IIBA). You can also further your education by enrolling for a master's degree in business analytics or an MBA to increase your chances of being promoted to a senior position.
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What skills should a business analyst have?
In addition to academics, business analysts must possess skills that will make them excel at the job. Critical skills to have include the following;
- Problem-solving
- Good interpersonal skills
- Analytical skills
- Excellent leadership skills
- Stakeholder management
- Project management
Are business analysts in demand in South Africa?
Business analysts are in demand across various industries in the country, although they are not on the national critical skills list. According to CareerJunction's Employment Insights report for November 2023, they are in very high demand in Gauteng Province and high demand in the Western Cape.
A business analyst can work in manufacturing, the government, healthcare, finance, consulting, IT, education, and other areas where important business decisions are required. Related professions, including investment analysts and market research analysts, are on the South African Critical Skills List.
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FAQs
Business analysis remains an important field across various industries. Here are some frequently asked questions about the profession;
Is business analysis a high-paying job?
Business analysts are well-compensated in South Africa and other parts of the world. Their monthly salary ranges between R14,500 and R58,000, depending on the level of experience, education level, employer, and location.
Is business analyst an IT job?
A business analyst is not an exclusive IT job, but a professional in the field can work in the IT department. IT business analysts mainly focus on a company's technology systems and solving problems related to tech needs, according to Coursera.
What is the difference between a business analyst and a data analyst?
Data analysts and business analysts both make data-driven decisions in their companies. Data analysts work more closely with the data itself, while business analysts tend to be more involved in addressing business needs and recommending solutions.
Data analysts are responsible for analyzing complex datasets to identify patterns and trends, while business analysts focus on understanding business needs and providing strategic recommendations using data. Both roles are crucial for leveraging data to drive business success.
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The salary of a business analyst in South Africa makes the profession a promising choice for job seekers. It not only offers competitive pay but also provides the opportunity to make a significant impact on a company's future success.
DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!
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