Business may be tough right now, but according to one recruiter, Rhys Horton, founder and managing partner of ORCA Search, those hardships mean a lift for at least one group of career professionals: business analysts.
“The current economic uncertainty, technology crisis and cost inflation are creating a boom for business analysts as companies face more scrutiny and become more cautious and tactical in their projects,” Horton said.
ORCA Search co-founder and managing partner Rhys Horton (left) and co-founder Shaun Stevens. Horton said salaries for business analysts have risen over the past two years.Credit: Orca Search
When businesses undertake large-scale transformation projects—perhaps to keep up with new technologies or changing markets—there are clearly risks involved. What if the organization is overspending, or if the transformation agenda fails? Business analysts use their skills to help mitigate these risks.
“Business analysts bridge this gap by acting as an intermediary between the operational and technical aspects of the business,” Horton said.
Analysts will define and measure the organization’s problems, collaborate with stakeholders, and then devise the most effective ways for everyone to achieve desired outcomes. This work can pay off handsomely financially. As contractors, business analysts can charge up to $1,200 a day — and that’s still where most of the work comes from.
Industries such as financial services, insurance, pensions, large retail organizations and government are starting to hire in-house full-time business analysts, Houghton said. Neema Zahedi is one of them.
“As business analysts, we often need to dig deep into a project and start contributing as quickly as possible to add the most value.”
Nima Zahedi
Zahedi most recently held a business analyst role at Macquarie Bank. He has held roles in market risk, regulatory reporting and data analytics at two of the Big Four banks, as well as in the fintech sector.
“As business analysts, we often need to dig deep into a project and start contributing as quickly as possible to add the most value. In some cases, the project is already underway, so it’s important to first fully understand its history and context,” he says .
