Business Analyst Salary in Canada in 2023: Scope, Skills, Requirements, and More
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Table of Contents[Show]
- Scope of Business Analyst in Canada
- Which are the Highest Paying Cities for Business Analysts in Canada?
- Average Salary in Canada for Experienced Business Analyst
- In-Demand Skills for Business Analyst Jobs in Canada
- Business Analyst Job Roles in Canada & Their Average Annual Salary
- Top Companies Hiring Business Analyst and Their Average Annual Salary
- What are the Minimum Requirements to Work in Canada as a Business Analyst?
- Business Analyst Salaries in Canada: Your Guide to Financial Prosperity
Are you considering a career in business analysis in Canada? Wondering how your business skills will pay off? Worry not, in this informative blog, we'll delve into the fascinating world of business analyst compensation in Canada. We'll explore salary ranges, and top-paying cities, providing you with all the details to explore this dynamic profession's financial rewards.
Scope of Business Analyst in Canada
The role of a business analyst is crucial for any business in Canada. With the rapid growth of businesses, the demand for professionals in this field continues to rise. Let's examine the Benefits of being a business analyst in Canada and what this role has to offer
- The average salary range of a business analyst in Canada is $65000 to $100,000 per year.
- The eSkills initiative has revealed that the skills in this field are projected to experience a steady annual growth rate of 2.5% over the next ten years.
- There are approximately 14,800 job vacancies in Canada for a business analyst
- Business analysis provides stable job security. The 2022 IIBA report indicates that many professionals in this field work for large organizations, with a substantial percentage having no plans to change employers, ensuring ongoing career stability.
- As a novice in business analysis, you'll begin in an entry-level role, but with time and expertise, you can advance to senior positions at a faster pace.
Which are the Highest Paying Cities for Business Analysts in Canada?
A Business Analyst's salary in Canada is influenced by various factors such as location, experience, company, and industry. However, we've compiled a comprehensive overview of the Highest, Lowest, and Average salaries for business analysts in the country.
| Canadian Cities | Highest Salary (CAD) | Lowest Salary (CAD) | Average Salary (CAD) |
|---|---|---|---|
| Mississauga, ON | $82,991 | $78,200 | $119,696 |
| Toronto, ON | $91,910 | $73,180 | $119,135 |
| Vancouver, BC | $84,481 | $74,389 | $116,630 |
| Winnipeg, MB | $93,670 | $63,979 | $110,814 |
| Ottawa, ON | $83,911 | $64,343 | $106,299 |
| Montréal, QC | $81,937 | $66,478 | $107,447 |
| Brampton, ON | $78,182 | $66,268 | $105,359 |
| Regina, SK | $83,775 | $61,770 | $103,658 |
| Calgary, AB | $80,878 | $55,000 | $95,439 |
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Average Salary in Canada for Experienced Business Analyst
Experienced Business Analysts in Canada can typically expect to earn a competitive salary, with their extensive expertise and skills commanding a higher compensation package compared to entry-level professionals in the field. The table below shows the salary ranges for business analysts in Canada
|
Level |
Years of Experience |
Salary Range (CAD per year) |
|---|---|---|
|
Entry-level Business Analyst |
Less than 1 year |
$50,000 - $61,956 |
|
Mid-level Business Analyst |
1 to 4 years |
$63,000 - $78,182 |
|
Sr-level Business Analyst |
5 to 9 years |
$91,000 - $120,000 |
In-Demand Skills for Business Analyst Jobs in Canada
Successful business analysts should possess a combination of technical and soft skills. This includes expertise in data analysis, proficiency in programming languages such as R and Python, and knowledge of project management methodologies. Additionally, strong communication and organizational skills are crucial for effective business analysis.
|
Skill Category |
Skills Required |
|---|---|
|
Analytical Skills |
Data analysis, statistical analysis, problem-solving |
|
Technical Skills |
Data modeling, database management, SQL, Python, R |
|
Business Knowledge |
Industry-specific knowledge, market research |
|
Communication Skills |
Written and verbal communication, presentation skills |
|
Project Management |
Agile methodology, project planning, and execution |
|
Software Proficiency |
Microsoft Excel, Tableau, and data visualization tools |
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Business Analyst Job Roles in Canada & Their Average Annual Salary
There are various business analyst job roles in Canada, take a look at the table below where we discuss the responsibilities and the corresponding average annual salaries in INR and CAD
|
Business Analyst Career |
Description |
Average Salary in INR |
Average Salary in CAD |
|---|---|---|---|
|
Business Analyst Manager |
Responsible for recruiting and managing business analyst teams, overseeing training, establishing best practices, and achieving organizational objectives. |
₹6217835 |
$102,500 |
|
Data Analysis Scientist |
Analyzes complex data, extracts meaningful insights, and employs machine learning and statistics to make data-driven decisions. |
₹6199090 |
$102,191 |
|
Quantitative Analyst |
Develops and implements mathematical models that support financial decisions, particularly in risk management, investments, and pricing strategies. |
₹6047314 |
$99,689 |
|
Data Business Analyst |
Works with large data sets to identify trends, create visual presentations, and provide insights for decision-making processes. |
₹5156132 |
$84,998 |
|
Information Security Analyst |
Focuses on cybersecurity, protecting organizations from cyber threats, interpreting security data, monitoring IT networks, and identifying vulnerabilities for remediation. |
₹4979666 |
$82,089 |
|
IT Business Analyst |
Manages multiple projects and operating systems while enhancing business process efficiency through data analysis. |
₹4530041 |
$74,677 |
Top Companies Hiring Business Analyst and Their Average Annual Salary
Below are the top companies actively recruiting business analysts in Canada and the corresponding average annual salaries. This information can help you navigate the job market and make career decisions in the field of business analysis.
|
Companies |
Average Annual Salary |
|---|---|
|
McKinsey & Company |
$104,092 |
|
TC Energy |
$94,496 |
|
Bell |
$78,293 |
|
BMO Financial Group |
$73,741 |
|
TD Bank |
$72,380 |
|
Sun Life |
$72,361 |
|
Scotiabank |
$71,421 |
|
Intact |
$71,125 |
|
BC Public Service |
$70,316 |
What are the Minimum Requirements to Work in Canada as a Business Analyst?
When it comes to requirements to work in Canada, technical skills and a fundamental educational background are essential for a successful business analyst. However, it's crucial to expand your skill set and achieve proficiency in areas such as communication, business knowledge, and problem identification.
- Typically, a bachelor's degree in computer science, business administration, information systems, or a related field, or the completion of a college program in computer science, is necessary.
- Some employers may require certification or training provided by software vendors.
- Additional certifications in project management, such as PMP, as well as certifications in predictive analytics and data analytics, can be beneficial for career advancement.
Business Analyst Salaries in Canada: Your Guide to Financial Prosperity
As you explore the diverse range of job roles, responsibilities, and salary offerings across various industries and top companies, it becomes clear that business analysis is truly a dynamic and rewarding field.
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Frequently Asked Questions
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