What Does A Lead Business Analyst Do?

A Lead Business Analyst cooperates with other analysts to solve problems and maximize the performance of the company. Their primary duties include managing the analyst team, creating and implementing procedures, preparing reports, and providing guidance to staff.

Here are the duties and responsibilities that a Lead Business Analyst is likely to perform in their role.

  • Lead the evaluation of business requests to determine feasibility, working with development to define alternatives and recommending optimal solutions.
  • Manage and implement remediation procedures for existing reports to ensure all process and procedures are clearly document and house for internal audits
  • Transfer documentation from project plan to SDLC templates for requirements specification and architecture design specification.
  • Support cross-functional development and QA teams with agile and waterfall projects, ensuring end-to-end processes work successfully.
  • Assist in devising new defect tracking process, including pilot of new defect tracking tool, JIRA.
  • Perform internal reviews within the team follow by reviews with the process owners, SMEs, auditors and technology resources.
  • Create and report QA progress metrics on weekly basis and at the end of every release create the test summary reports.
  • Work with QA team to test and verify functional, operational and performance criteria need for the implementation of ThinkWave LMS.
  • Collaborate with SMEs to identify and analyze core requirements and key features of the business unit and call center operation projects.
  • Produce UML-based use case packages and use case diagrams to capture business requirements for a government Medicare health care claims system.
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Lead Business Analyst Traits
Analytical skills
Analytical skills have to do with gathering information from various sources and then interpreting the data in order to reach a logical conclusion that benefits the business.
Creativity
Creativity involves thinking about a task or problem in an entirely new or different light.
Communication skills
Communication skills shows that you are able to relay your thoughts, opinions and ideas clearly to those around you.

Lead Business Analyst Overview

Compared to other jobs, lead business analysts have a growth rate described as "much faster than average" at 14% between the years of 2018 - 2028 according to the Bureau of Labor Statistics. In fact, the number of lead business analyst opportunities that are predicted to open up by 2028 is 118,300.

On average, lead business analysts earn $97,682 per year, which translates to $46.96 an hour. Generally speaking, lead business analysts earn anywhere from $76,000 to $124,000 a year, which means that the top-earning lead business analysts make a whopping $48,000 more than the ones at the lower end of the spectrum.

Let's say you're currently a lead business analyst, but maybe you're looking for a new opportunity. You may even be playing around with the idea of becoming a lead business analyst. If that's the case, you'll probably want to know how these roles compare to other positions. Luckily, you came to the right place. Here, you'll find extensive information on roles such as an analyst lead, project analyst, staff analyst, and senior analyst just so you can compare job roles and responsibilities. We'll explain how these compare to lead business analysts in a bit.

Lead Business Analyst Skills and Personality Traits

We calculated that 25% of Lead Business Analysts are proficient in Business Requirements, Project Management, and To-Be. They’re also known for soft skills such as Analytical skills, Creativity, and Communication skills.

We break down the percentage of Lead Business Analysts that have these skills listed on their resume here:

  • Business Requirements, 25%

    Conducted in depth analysis of policy suspense item errors and creating business requirements, best practice recommendations and process improvement exercise.

  • Project Management, 9%

    Improved 50% error resolution across multiple business lines supporting Financial Policy Administration and leveraged Project Management discipline to chart progress.

  • To-Be, 7%

    Involved in Creation and review of the to-be system prototype with the business and technical users.

  • Test Plans, 6%

    Developed Business and Functional Requirements, Directed offshore developers, Reviewed and approved Test Plans and trace matrix documents.

  • User Interface, 5%

    Developed screen shots and consulted on user interface, application usability, and functionality.

  • Scrum, 4%

    Worked alongside engineers in agile/Scrum environment during development.

Lead business analysts are known for having more than just business requirements, project management, and to-be. You can read about other common personality traits here:

  • Arguably the most important personality trait for a lead business analyst to have happens to be analytical skills. Management analysts must be able to interpret a wide range of information and use their findings to make proposals. A lead business analyst can use analytical skills to evaluated enterprise requirements and performed cost/benefit analysis to inform best-of-breed solution identification and cost-effective development, acquisition, and enhancement strategies.
  • Another skill that is quite popular among lead business analysts is the following: communication skills. This skill is very critical to fulfilling every day responsibilities. Management analysts must be able to communicate clearly and precisely in both writing and speaking Check out this example of how this skill is used: "assisted arustek international with the redesign efforts for their intranet database and enterprise communication application."
  • It's essential that a lead business analyst have interpersonal skills. Management analysts must work with managers and other employees of the organizations where they provide consulting services interpersonal skills is extremely important for lead business analysts to have. As an example, this snippet was taken directly from a resume about how this skill applies: "received rapid promotion to management ranks based upon performance and interpersonal skills displayed on this role."
  • Another common skill for a lead business analyst to be able to utilize is time-management skills. Management analysts often work under tight deadlines and must use their time efficiently to complete projects on time. A lead business analyst demonstrated the need for this skill by putting this on their resume: "delivered an on time transition through effective team leadership, establishing a detailed schedule and activities process and clear communication."
  • Lastly, this career requires you to be skillful in problem-solving skills. Management analysts must be able to think creatively to solve clients’ problems. This example explains why: "proposed solutions to enable universal and flexible application development as well as providing synergies with other enterprise initiatives and product offerings."
  • See the full list of lead business analyst skills.

    Over half of lead business analysts have graduated with a bachelor's degree. In fact, it seems 44.3% of people who became a lead business analyst earned a bachelor's degree. When it comes down to graduating with a master's degree roughly 43.7% in this career have them. If you're wanting to pursue this career, it seems it may be possible to be successful with a high school degree. In fact, most lead business analysts have a college degree. But about one out of every nine lead business analysts didn't attend college at all.

    The lead business analysts who went onto college to earn a more in-depth education generally studied business and computer science, while a small population of lead business analysts studied finance and information technology.

    Once you've obtained the level of education you're comfortable with, you're prepared to start applying to become a lead business analyst. We've found that typically lead business analysts are mostly employed at Deloitte, Citi, and Cigna. Of recent, Deloitte had 45 positions open for lead business analysts. Meanwhile, there are 7 job openings at Citi and 6 at Cigna.

    If you're in it for the money, you'll want to apply for positions at Citi, The Bank of New York Mellon, and JPMorgan Chase as that's where lead business analysts seem to make the most money. Let's take a closer look. At Citi, the average lead business analyst salary is $132,726. Whereas at The Bank of New York Mellon, lead business analysts earn roughly $132,191. And at JPMorgan Chase, they make an average salary of $131,820. Before you get too excited over those salary numbers, you should make sure that securing a job at these companies is doable. For example, while Citi has 7 job listings for lead business analysts, The Bank of New York Mellon and JPMorgan Chase have 0 and 2 job listings respectively.

    View more details on lead business analyst salaries across the United States.

    The most distinguished lead business analysts are known to work for JPMorgan Chase, Accenture Federal Services, and Citi. In order to figure this out, we assessed which schools lead business analysts earned their degrees, and then looked into the companies that hired lead business analysts from the top 100 U.S. educational institutions.

    In general, lead business analysts fulfill roles in the finance and insurance industries. While employment numbers are high in those industries, the salaries for lead business analysts are the highest in the finance industry with $106,641 as the average salary. Meanwhile, the media and retail industries only pay $100,256 and $95,548 respectively. This means that lead business analysts who are employed in the finance industry make a whopping 0.0% more than lead business analysts who work in the insurance Industry.

    The three companies that hire the most prestigious lead business analysts are:

      What Analyst Leads Do

      The duties of an analyst lead depend on one's line of work or industry of employment. Typically, their responsibilities revolve around performing research and analysis, coordinating with different departments to gather leads and data, reviewing findings, and producing reports and presentations for the stakeholders and other higher-ranking officials. Through the results, an analyst lead can provide advice, devise strategies for business optimization, spearhead the development of processes, identify strengths and weaknesses, and offer recommendations on areas in need of improvement. All of this is done while in adherence to the company's vision and mission.

      Up to bat, or first to compare, is analyst lead. Looking at the salary aspect, analyst leads earn a $18,807 lower salary than lead business analysts annually.

      The two careers find some common ground in the skills department though. Both lead business analysts and analyst leads alike are skilled in business requirements, project management, and test plans.

      These skill sets are where the common ground ends though. A lead business analyst is more likely to need to be skilled in to-be, scrum, architecture, and jira. Whereas a analyst lead requires skills like procedures, analytics, powerpoint, and customer service. Just by understanding these different skills you can see how truly different these careers are.

      Analyst leads tend to make the most money in the finance industry by averaging a salary of $89,846. In contrast, lead business analysts make the biggest average salary of $106,641 in the finance industry. That's quite a difference.

      On average, analyst leads reach lower levels of education than lead business analysts. In fact, analyst leads are 12.2% less likely to earn a Master's Degree and 1.6% more likely to graduate with a Doctoral Degree.

      What Are The Duties Of a Project Analyst?

      A project analyst is responsible for overseeing the development of new projects upon completion of data gathering. A project analyst must provide plans and design the project to its full potential. For this, it is essential to conduct extensive research and coordinate with all staff and departments involved through regular reports and various forms of communication. Furthermore, a project analyst must devise strategies to improve particular projects for it to succeed and achieve better results, all in adherence to the company policies and regulations.

      On deck, we have project analysts. This career brings along a lower average salary of $29,592, which is lower than the salary of lead business analysts per year.

      While the salary may be different for these job positions, there is one similarity and that's the skills they need. Both lead business analysts and project analysts are known to have skills such as business requirements, project management, and test plans.

      But both careers also require different skills. While lead business analyst also utilizes skills like to-be, architecture, qa, and data warehouse, the typical project analyst is skilled in areas like procedures, financial statements, pmp, and infrastructure. This is just the beginning of what makes these two careers so very different.

      While we already know that project analysts earn lower, we took a step further to see what industry these workers typically make the most. Interestingly, project analysts earn the most pay in the manufacturing industry with an average salary of $71,713. Whereas, lead business analysts have higher paychecks in the finance industry where they earn an average of $106,641.

      When it comes to education, project analysts tend to reach lower levels of education than lead business analysts. In fact, they're 14.3% less likely to graduate with a Master's Degree and 1.6% more likely to earn a Doctoral Degree.

      How a Staff Analyst Compares

      In the hole for a comparison are staff analysts. On an average basis, this career brings in lower money than lead business analysts with a lower salary of $2,938 annually.

      Lead business analysts and staff analysts both have similar skills such as business requirements, project management, and hr, but they differ in skills past that.

      There are actually many key differences between the two careers, including other skills each role requires. As an example of this, a lead business analyst is likely to be skilled in to-be, test plans, user interface, and scrum, while a typical staff analyst is skilled in ensure compliance, technical support, financial statements, and logistics. These skills show how different the two job titles can be within the day-to-day roles and responsibilities.

      Staff analysts make a very good living in the insurance industry, where they make the highest salary of roughly $100,391. Whereas lead business analysts are paid the highest salary in the finance industry with the average being $106,641.

      For educational purposes, staff analysts are known for reaching lower levels when compared to lead business analysts. In fact, they're 10.7% less likely to graduate with a Master's Degree, and 2.2% less likely to earn a Doctoral Degree.

      Description Of a Senior Analyst

      A Senior Analyst provides financial analysis support to various areas of a company and is responsible for the preparation of report analysis. Their area may include financial, business, or others.

      Last, but not least, are the senior analysts who typically earn lower pay than lead business analysts, with a difference of $17,123 per year.

      While their salaries differ, lead business analysts and senior analysts both use similar skills to perform their jobs like business requirements, project management, and test plans.

      Even though their skill sets overlap, there are some key differences that are important to note. For one, a lead business analyst tends to have more use for skills like to-be, scrum, visio, and architecture. Meanwhile, a typical senior analyst makes use out of skills like analytics, procedures, financial statements, and portfolio. The difference in skills between the two professions really shows how different the two are.

      Senior analysts tend to earn a higher salary in the insurance industry with an average of $85,225.

      On the topic of education, the two careers have some notable differences. Senior analysts reach lower levels of education than lead business analysts with the likelihood of them earning a Master's Degree being 5.3% less. Plus, they're 2.7% more likely to graduate with a Doctoral Degree.