MSBI&A: Top 11 Careers (With Business Analytics Salary Data)

December 13, 2022

Firms have long relied on data analysts for insight into business patterns and market trends. Today, paper spreadsheets have given way to automated data collection and analysis tools, but analysts still work in virtually every industry, identifying opportunities and generating value. Research suggests the average business analyst contributes a great deal in their organization. A 2022 survey from NewVantage Partners found that over 92% of investments into data and AI-driven automation produced measurable benefits.

But while the benefits of data analytics are well-documented, many organizations encounter challenges when hiring for roles such as business systems analyst or business intelligence analyst. A 2020 Gartner survey found that data literacy gaps were a critical roadblock for many firms, and those gaps still exist today. Qualified job candidates with business analytics degrees, technical skills and domain expertise may have their pick of job openings.

Roles open to job seekers with credentials such as Stevens Institute of Technology‘s online Master of Science in Business Intelligence & Analytics (MSBI&A) don’t necessarily carry conventional data analyst or business analyst titles. Some are domain-specific. But the following business analytics jobs are worth looking into because many of the top careers in analytics and business intelligence pay annual salaries much higher than the national average.

The Top 11 Business Analytics Jobs You Can Get With an MSBI&A

Business Intelligence Manager

Business intelligence managers use data to make business decisions or help leaders create and execute on strategy. They typically oversee teams of more junior analysts and business intelligence experts. Their responsibilities include deciding what projects to pursue and how to allocate analyst resources within an organization. 

Business intelligence managers must have deep mastery of data collection, analysis and visualization and usually know at least one programming language for database manipulation or research, such as SQL, Python or R. Unlike more junior analysts, they also need skills related to employee coaching, delegation and people management. 

Glassdoor reports the average business intelligence manager earns a base salary of about $118,000 annually, which is higher than the typical business analyst salary. Top employers such as Google and Meta pay business intelligence managers over $200,000 annually.

Chief Data Officer

Chief data officers, or CDOs, are responsible for all data operations in their organizations. They manage multiple teams of data professionals and make long-term strategic decisions about their organizations’ investments in data strategy. They represent the data wing of the C-Suite and usually report directly to the CEO and the board. 

However, this role is still evolving as data technology finds its place in business. Almost 60% of respondents in the aforementioned NewVantage Partners survey said that the executive-level data role in their organizations is still developing. Some organizations have a Chief Data and Analytics Officer (CDAO). Sometimes Chief Technology Officers (CTOs) or other senior leaders will take on CDO responsibilities. 

CDOs typically have many years of experience in business analytics and management. According to PayScale, CDOs earn an average salary of $175,000, though salary ranges in the C-Suite can be broad. Some CDOs earn significantly more and may earn annual bonuses of more than $80,000.

Senior Data Analyst

Senior data analysts use the same data collection, analysis and visualization skills as entry-level business analysts but on a larger scale and as part of higher-stakes projects. They may take responsibility for entire projects and manage teams of more junior data and business intelligence professionals. Their responsibilities include offering Big Data-driven advice that informs business decisions in industries as diverse as healthcare and entertainment.  

Many senior analysts launch careers with bachelor’s degrees and then rise through the ranks by developing their skills in graduate business intelligence programs. According to Glassdoor, senior data analysts earn about $103,000 annually, and senior business analysts at top-paying companies may earn more than $200,000.

Business Intelligence Consultant

Business intelligence consultants are professional service providers who help organizations design and implement data strategies or solve challenges related to data collection, warehousing and analysis. They may work alone as freelancers or for business consultancy firms. 

Consultants in this space are experts in the applications of business intelligence and comfortable taking ownership of complex projects for startups and enterprise-level organizations. Salary estimates for business intelligence consultants are not particularly illuminating because pay varies considerably. However, Glassdoor reports that the average business intelligence consultant earns about $142,000 annually.

Financial Manager

Financial managers are domain experts who have developed analytics and management skills in programs such as the MSBI&A from the School of Business at Stevens Institute of Technology. They oversee organizational finances and may manage teams of financial analysts, reporting directly to a firm’s chief financial officer or the CEO. Their responsibilities vary based on the scope of the role at a given organization, but all financial managers need excellent people management and strategic leadership skills in addition to a deep understanding of corporate finance.

According to Glassdoor, the average financial manager earns about $157,000 annually, but financial managers with AI, deep learning and predictive analytics skills may earn well over $200,000. The highest-paying firms offer financial managers compensation packages worth more than $300,000, including bonuses.

Principal Financial Analyst

Career paths for ambitious finance professionals with business analytics skills are not limited to the management track. Principal financial analysts are senior individual contributors who take ownership of data projects and collaborate with stakeholders at the highest levels of an organization. They may also take on mentorship duties, overseeing work done by junior analysts and providing feedback. Glassdoor reports the average principal financial analyst earns almost $136,000 annually, but senior-level financial analysts at high-paying firms can earn over $200,000.

Senior Management Analyst

The primary difference between senior analysts and their junior counterparts has to do with independence. Senior management analysts have more freedom to pursue lines of inquiry because they have specific domain expertise in management operations. They report directly to executives in their organizations, and their work reduces costs and makes firms more efficient through evaluation of managerial practices, structures and operations. 

The independent nature of the work requires sharp data analysis and performance management skills. Senior management analysts must think critically on their own and communicate their findings clearly to senior executives who don’t have the same domain expertise. According to Glassdoor, the average senior management analyst earns about $91,000 annually, but management analysts with more experience and advanced degrees can earn $150,000 or more.

Senior Market Research Analyst

Senior market analysts have deep consumer market knowledge and advanced data analysis skills they use to deliver insight into customer behavior and predict future market trends. Similar to other senior business analysts, senior market research analysts often take ownership of entire projects and tend to work closely with senior leadership or high-value clients. Glassdoor data suggests that most senior market research analysts earn about $101,000, but their skills can command salaries over $200,000 when paired with an advanced degree in business analytics or a related field.

Senior Operations Research Analyst

Senior operations research analysts are domain experts in operations who have data analytics skills related to data modeling, research analysis, machine learning and more. Their work may drive business decision-making, logistics, company policies and product development and provides actionable insights into business operations and policy.

According to Glassdoor, senior operations research analysts earn about $97,000 annually. However, at high-paying companies such as Amazon, they can earn as much as $130,000 with the right experience and education.

Analytics Project Manager

Similar to other project managers, analytics project managers have excellent organization, communication and leadership skills. They use their understanding of how business analytics professionals work to plan and coordinate data analytics projects in their organizations. 

Their responsibilities include creating project roadmaps and supervising progress to ensure work is completed on time and per spec. Some analytics project managers oversee teams of analysts, assigning tasks and reviewing work. Many analytics project managers earn close to $110,000 annually but top companies such as Meta may pay experienced analytics project managers as much as $200,000.

Statistician

Statistician is a broad job title that may encompass many different duties. Modern statisticians use sophisticated statistical analysis techniques to analyze and solve problems facing their organizations. Their work overlaps with that of data scientists and business analysts because they are responsible for collecting data, analyzing it and presenting actionable insights to relevant stakeholders. According to Glassdoor, statisticians earn about $85,000 annually. However, top firms such as Google or Goldman Sachs often pay skilled statisticians with the right credentials more than $150,000.

What About Data Scientists?

According to job market analysis firm Lightcast, data scientist is the most common job title for graduates with master’s degrees in business analytics. One reason for this is that the role is often nebulously designed. Data scientists’ duties are often the same as those of professionals in positions like data analyst and statistician, and as the applications of data grow and the field expands, the boundaries that divide data science, data analytics, business intelligence and business analytics are eroding. 

M.S. in Business Intelligence & Analytics programs such as the one offered by Stevens can prepare students for careers in data science and related fields. However, the job title “data scientist” can cover many distinct roles and responsibilities and, by itself, provides little information about industry or domain. Some experts argue that this job title is going extinct and, as the field develops, there will be increased demand for domain-expert analysts who marry advanced data analysis skills with experience in specific functional areas or fields.

MSBI&A graduates can and should seek out data scientist positions. However, they should research organizations and read job descriptions carefully to ensure data scientist job postings align with their skills.

How a Master of Science in Business Intelligence & Analytics Can Advance Your Career

The demand for analysts is high because organizations know that professionals with data analytics skills can deliver significant value. The Master of Science in Business Intelligence & Analytics from the School of Business at Stevens Institute of Technology prepares students to step into these in-demand, high-paying roles. Graduates are ready to excel in senior individual contributor roles and in management positions that require data analytics skills. They are also qualified to transition into data science or statistician positions that commonly require graduate-level credentials. For related jobs that don’t require a master’s degree, Stevens’ MSBI&A helps applicants stand out, validates technical competencies and can help end a career plateau or speed up an analyst’s rate of advancement.

The online MSBI&A program shows students how to leverage the power of their domain knowledge using advanced data analysis. Throughout the business analytics curriculum, students hone their AI, deep learning and predictive analytics skills to solve real-world business challenges. Graduates can analyze risk mathematically, build and manage enterprise data systems and use Big Data to develop and implement insightful, evidence-based processes.

Stevens MSBI&A alumni work for organizations such as BMW, IBM, Exxon, Lockheed Martin, Goldman Sachs and UPS, and their titles include those profiled above and many others. The career outlook in business analytics is already strong, but a master’s degree in business analytics and intelligence can further bolster a driven professional’s prospects. Employers recognize the value that Stevens MSBI&A graduates bring to their organizations and hire accordingly.

Are you ready to take a deep dive into data leadership? Review the MSBI&A admissions requirements to learn more, or start your online application today.