MBA in Business Analytics Salary and Career Outlook
Updated October 6, 2023 · 4 Min Read
Credit: Luis Alvarez / DigitalVision / Getty Images
Candidates with an MBA in business analytics qualify for many careers in the field. The Bureau of Labor Statistics (BLS) projects an employment growth rate of 11% for management analysts from 2019-2029, more than doubling the national projected growth rate for all professionals.
Financial analysts, budget analysts, and operations research analysts — all roles with strong employment projections — often require candidates to hold MBAs in business analytics. Degree-holders can find opportunities with small consulting firms, large corporations, and nonprofits.
Potential business analytics job titles include management analyst, senior business analyst, and business development manager. This guide provides information on MBAs in business analytics, including available educational pathways and salary data for graduates.
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What Is an MBA in Business Analytics?
An MBA grows business and leadership skills in learners who often already work in the business profession. The business analytics concentration fuses general business principles with data-driven studies to enhance each learner's ability to make strategic business decisions.
Although business analytics, data analytics, and business intelligence have similar foundations, each concentration offers different methods. Data analytics and business intelligence focus mostly on data mining and reporting, while business analytics interprets that data into actionable business strategies.
An MBA in business analytics typically includes a general MBA curriculum and courses specific to analytics. Core courses explore business ethics, marketing management, and organizational behavior. Specialization classes tackle topics such as information systems, statistical analysis, and problem-solving methods.
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What Can You Do With an MBA in Business Analytics?
A business analytics degree offers several potential career pathways, including management positions and business consultant jobs. A graduate with an advanced degree, such as an MBA in business analytics, may benefit from more business analytics job opportunities with higher salaries. The BLS projects that many of these career paths will grow rapidly from 2019-2029.
Management Analysts
Management analysts consult with businesses to gather information and offer improvement advice using relevant data. A management analyst compiles datasets to search for historical or current trends in finances and business operations to assist business leaders in making strategic decisions.
According to PayScale, midcareer management analysts with 5-9 years of experience can expect to earn about 8% more on average than entry-level management analysts.
Median Annual Salary: $87,660
Job Outlook (2019-29): +11%
Business Insight and Analytics Manager
Business insight and analytics managers typically oversee other business analysts. Common job responsibilities include assigning data collection and analysis duties to team members, tracking business performance, and preparing analytical reports. Data may come from market research, customer reviews and feedback, revenue and sales trends, and statistical analysis.
This role offers one of the fastest-growing business analytics careers, with the BLS projecting a faster-than-average 25% employment growth rate from 2019-2029.
Average Annual Salary: $100,540
Senior Business Analyst
These analysts handle several complex responsibilities to assist businesses' decision-making processes. They study datasets and business operations to provide organizations with sound advice for improvement.
Senior business analysts typically begin as business analysts before developing experience and earning master's degrees. Professionals with 1-4 years of experience in the field can expect to earn an average of $77,770 annually.
Average Annual Salary: $86,100
Business Systems Analyst
A business systems analyst studies business operations and strategies to seek opportunities for improvement. These analysts research business' daily operations, along with business partners, training procedures, and sales and marketing efforts.
The BLS projects the demand for this career to grow rapidly in smaller businesses and consulting companies for specific industries.
Average Annual Salary: $69,910
Business Development Manager
These managers apply data to assist businesses with training and overall management strategies. A business development manager may work with business leaders to create effective financial, customer service, marketing, supply chain management, and operation strategies.
PayScale reports that, on average, mid-career professionals earn an average salary of $77,630, while business development managers with 1-4 years of experience make an average annual salary of $62,998.
Average Annual Salary: $74,310
Why Should You Get an Online MBA in Business Analytics?
An online MBA in business analytics offers the flexibility to accommodate students' current work schedule while advancing their career skills. Online MBA programs build on learners' business knowledge to further their leadership potential.
A business analytics specialization translates well to an online learning environment. Students can complete assignments on a flexible schedule and meet regular deadlines. This concentration combines general MBA topics, such as marketing and financial management, with business analytics topics, such as data mining and strategic management.
You may qualify for financial aid to receive a more affordable online MBA. Your employer may also offer tuition assistance to reimburse you for some or all of your MBA costs.
FAQs About MBAs in Business Analytics
What is business analytics?
Business analytics covers past and current trends and statistics in business. Using statistical methods and models, business analytics helps business leaders make strategic decisions to improve operations, finances, and marketing efforts.
What jobs can I get with an MBA in business analytics?
An MBA in business analytics opens the door to many jobs in the field. The most common business analytics jobs include management analyst, business analytics manager, senior business analyst, business systems analyst, and business development manager.
What is the difference between business analytics and data analytics?
Data analytics mines and compiles data to provide insight into trends. Not all data analytics findings relate to the business industry. Business analytics uses uncovered data from data analytics processes to use for strategic business planning.
Can I get a business analytics MBA online?
Yes. Multiple colleges and universities offer online MBAs in business analytics for students looking to pursue more flexible learning schedules.
Professional Organizations for Business Analytics
Members benefit from unique networking and collaborative opportunities, members-only discounts, a database of exclusive research and resources, and supportive resources for career development.
Formerly the Web Analytics Association, this organization offers professional development opportunities, sponsorships, events, and job listings.
This nonprofit organization sets standards for data science ethics and competency while working to grow the data science field and its professionals through research, education, and professional development.
Machine learning and data science professionals primarily comprise this association's member base. ADaSci provides continuous skill advancement, a career center, exclusive events, and peer-reviewed research to members.
Feature Image: Luis Alvarez / DigitalVision / Getty Images
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