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Become A Principal Business Analyst

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Working As A Principal Business Analyst

  • Getting Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Establishing and Maintaining Interpersonal Relationships
  • Analyzing Data or Information
  • Organizing, Planning, and Prioritizing Work
  • Deal with People

  • Mostly Sitting

  • $101,000

    Average Salary

What Does A Principal Business Analyst Do

Management analysts, often called management consultants, propose ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.

Duties

Management analysts typically do the following:

  • Gather and organize information about the problem to be solved or the procedure to be improved
  • Interview personnel and conduct onsite observations to determine the methods, equipment, and personnel that will be needed
  • Analyze financial and other data, including revenue, expenditure, and employment reports
  • Develop solutions or alternative practices
  • Recommend new systems, procedures, or organizational changes
  • Make recommendations to management through presentations or written reports
  • Confer with managers to ensure changes are working

Although some management analysts work for the organization that they analyze, most work as consultants on a contractual basis. 

Whether they are self-employed or part of a large consulting company, the work of a management analyst may vary from project to project. Some projects require a team of consultants, each specializing in one area. In other projects, consultants work independently with the client organization’s managers.

Management analysts often specialize in certain areas, such as inventory management or reorganizing corporate structures to eliminate duplicate and nonessential jobs. Some consultants specialize in a specific industry, such as healthcare or telecommunications. In government, management analysts usually specialize by type of agency.

Organizations hire consultants to develop strategies for entering and remaining competitive in today’s marketplace.

Management analysts who work on contract may write proposals and bid for jobs. Typically, an organization that needs the help of a management analyst solicits proposals from a number of consultants and consulting companies that specialize in the needed work. Those who want the work must then submit a proposal by the deadline that explains how the consultant will do the work, who will do the work, why they are the best consultants to do the work, what the schedule will be, and how much it will cost. The organization that needs the consultants then selects the proposal that best meets its needs and budget.

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How To Become A Principal Business Analyst

Most management analysts have at least a bachelor’s degree. The Certified Management Consultant (CMC) designation may improve job prospects.

Education

A bachelor’s degree is the typical entry-level requirement for management analysts. However, some employers prefer to hire candidates who have a master’s degree in business administration (MBA).

Few colleges and universities offer formal programs in management consulting. However, many fields of study provide a suitable education because of the range of areas that management analysts address. Common fields of study include business, management, economics, political science and government, accounting, finance, marketing, psychology, computer and information science, and English.

Analysts also routinely attend conferences to stay up to date on current developments in their field.

Licenses, Certifications, and Registrations

The Institute of Management Consultants USA (IMC USA) offers the Certified Management Consultant (CMC) designation to those who meet minimum levels of education and experience, submit client reviews, and pass an interview and exam covering the IMC USA’s code of ethics. Management consultants with a CMC designation must be recertified every 3 years. Management analysts are not required to get certification, but it may give jobseekers a competitive advantage.

Work Experience in a Related Occupation

Many analysts enter the occupation with several years of work experience. Organizations that specialize in certain fields typically try to hire candidates who have experience in those areas. Typical work backgrounds include experience in management, human resources, and information technology. 

Advancement

As consultants gain experience, they often take on more responsibility. At the senior level, consultants may supervise teams working on more complex projects and become more involved in seeking out new business. Those with exceptional skills may eventually become partners in their consulting organization and focus on attracting new clients and bringing in revenue. Senior consultants who leave their consulting company often move to senior management positions at nonconsulting organizations.

Important Qualities

Analytical skills. Management analysts must be able to interpret a wide range of information and use their findings to make proposals.

Communication skills. Management analysts must be able to communicate clearly and precisely in both writing and speaking. Successful analysts also need good listening skills to understand the organization’s problems and propose appropriate solutions.

Interpersonal skills. Management analysts must work with managers and other employees of the organizations where they provide consulting services. They should work as a team toward achieving the organization’s goals. 

Problem-solving skills. Management analysts must be able to think creatively to solve clients’ problems. Although some aspects of different clients’ problems may be similar, each situation is likely to present unique challenges for the analyst to solve.

Time-management skills. Management analysts often work under tight deadlines and must use their time efficiently to complete projects on time.

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Principal Business Analyst Career Paths

Principal Business Analyst
Project Manager Senior Project Manager
Director Of Project Management
12 Yearsyrs
Project Manager
Manager, Project Management
9 Yearsyrs
Project Manager Business Manager Controller
Controller, Vice President
11 Yearsyrs
Senior Project Manager Director Finance Director
Senior Director Of Finance
14 Yearsyrs
Senior Project Manager Director Operations Director
Director Of Business Operations
10 Yearsyrs
Principal Consultant Manager Finance Manager
Manager Finance Planning And Analysis
8 Yearsyrs
Principal Consultant Manager Program Manager
Manager, Program Management
9 Yearsyrs
Principal Consultant Program Manager
Global Program Manager
10 Yearsyrs
Business Analyst/Project Manager Program Manager Product Manager
Vice President, Product Management
13 Yearsyrs
Business Analyst/Project Manager Information Technology Project Manager Senior Manager
Practice Leader
11 Yearsyrs
Business Analyst/Project Manager Information Technology Project Manager Information Technology Director
Director Of Information Management
10 Yearsyrs
Product Manager Business Manager Finance Manager
Finance Project Manager
8 Yearsyrs
Product Manager Business Development Manager Consultant/Project Manager
Manager, Project Management Office
12 Yearsyrs
Information Technology Project Manager Technical Delivery Manager Technical Project Manager
Product Owner
9 Yearsyrs
Manager Production Manager Processing Manager
Business Process Manager
10 Yearsyrs
Senior Managed Senior Consultant Project Manager/Analyst
Change Manager
9 Yearsyrs
Senior Managed Senior Consultant Technology Architect
Vice President, Technology
11 Yearsyrs
Senior Managed Property Manager Asset Manager
Vending Manager
7 Yearsyrs
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Do you work as a Principal Business Analyst?

Help others decide if this is a good career for them

Average Length of Employment
Top Careers Before Principal Business Analyst
Consultant 6.0%
Manager 3.7%
Analyst 3.7%
Top Careers After Principal Business Analyst
Consultant 5.6%
Manager 4.6%
Director 3.1%

Do you work as a Principal Business Analyst?

Average Yearly Salary
$101,000
View Detailed Salary Report
$73,000
Min 10%
$101,000
Median 50%
$101,000
Median 50%
$101,000
Median 50%
$101,000
Median 50%
$101,000
Median 50%
$101,000
Median 50%
$101,000
Median 50%
$138,000
Max 90%
Best Paying Company
Facebook
Highest Paying City
San Francisco, CA
Highest Paying State
Maryland
Avg Experience Level
3.9 years
How much does a Principal Business Analyst make at top companies?
The national average salary for a Principal Business Analyst in the United States is $101,172 per year or $49 per hour. Those in the bottom 10 percent make under $74,000 a year, and the top 10 percent make over $138,000.

Real Principal Business Analyst Salaries

Job Title Company Location Start Date Salary
Principal Business Analyst Allscripts Healthcare, LLC Atlanta, GA Aug 04, 2014 $143,006
Principal Business Analyst IGT Global Solutions Corporation Providence, RI May 23, 2016 $140,000
Principal Business Management at&T Services, Inc. Plano, TX Oct 17, 2016 $134,268
Principal Business Analyst Rei Systems Inc. Rockville, MD Aug 20, 2016 $130,410
Principal Business Analyst Professional Access Ltd. New York, NY Oct 01, 2014 $130,000
Principal Business Analyst Symantec Corporation Mountain View, CA Oct 15, 2015 $130,000
Principal Business Analyst Professional Access Ltd. Wayne, NJ Oct 01, 2014 $130,000
Principal-Business Management at&T Services, Inc. Plano, TX Sep 14, 2016 $129,515
Principal Business Analyst American Tower Corporation Boston, MA Dec 17, 2015 $127,501
Principal Business Analyst Rei Systems Inc. Sterling, VA Sep 28, 2015 $126,500
Principal Business Analyst Calypso Technology, Inc. San Francisco, CA Oct 01, 2013 $125,000 -
$144,000
Principal Business Analyst American Tower Corporation Marlborough, MA Dec 22, 2014 $125,000
Business Analyst Principal Flowserve U.S. Inc. Irving, TX Sep 28, 2015 $125,000
Principal Business Analyst Simplivity Inc. Westborough, MA Nov 19, 2015 $109,678
Principal Business Analyst IBM Corporation New York, NY Oct 01, 2013 $108,528 -
$151,002
Principal Business Integration Analyst Rockwell Collins, Inc. Cedar Rapids, IA Nov 07, 2014 $106,600
Principal Business Analyst City and County of San Francisco San Francisco, CA Nov 03, 2016 $106,333 -
$133,735
Principal Business Analyst Rei Systems Inc. Rockville, MD Apr 18, 2016 $105,270
Principal Analyst Business Systems Analysis Globalfoundries U.S. Inc. Santa Clara, CA Mar 02, 2015 $104,042 -
$120,000
Principal Business Analyst Mayo Clinic Rochester, MN Apr 10, 2015 $96,554
Principal Business Analyst-Clinic Operations Mayo Clinic Rochester, MN Jul 13, 2016 $96,553
Principal, Business Analyst Manhattan Associates, Inc. Atlanta, GA Sep 02, 2015 $96,193
Principal Business Analyst Capital One, National Association McLean, VA Mar 21, 2016 $96,000 -
$128,900
Principal Business Analyst Capital One, National Association McLean, VA Feb 08, 2016 $96,000 -
$128,900
Principal Business Analyst Manhattan Associates, Inc. Atlanta, GA Sep 15, 2016 $95,521
Principal Business Analyst Capital One, National Association McLean, VA Sep 06, 2016 $95,115 -
$128,900
Principal Business Analyst Capital One, National Association McLean, VA Sep 29, 2016 $95,115 -
$128,900

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Top Skills for A Principal Business Analyst

  1. Business Requirements
  2. Project Management
  3. Financial Statements
You can check out examples of real life uses of top skills on resumes here:
  • Documented all requirements within a business requirements design document for publication to clients.
  • Implemented Project Management Office with key management processes and built aggressive Integrated Master Schedule.
  • Provided city utility-Marietta Power & Water with monthly business analysis of financial statements and led Business Case Development for Smart Grid.
  • Reviewed other analysts business and systems requirements documents to ensure compliance with BABOK and best practice Accomplishments.
  • Co-developed detailed work plan for integration of Baker Hughes operating units into Halliburton's OTC business processes and system ecosystem.

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Average Salary:

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Top 10 Best States for Principal Business Analysts

  1. New Jersey
  2. District of Columbia
  3. Connecticut
  4. Maryland
  5. Washington
  6. Massachusetts
  7. Texas
  8. North Carolina
  9. California
  10. New Hampshire
  • (1,386 jobs)
  • (915 jobs)
  • (642 jobs)
  • (1,060 jobs)
  • (945 jobs)
  • (1,509 jobs)
  • (3,086 jobs)
  • (1,413 jobs)
  • (5,943 jobs)
  • (150 jobs)

Principal Business Analyst Demographics

Gender

Male

54.6%

Female

38.3%

Unknown

7.0%
Ethnicity

White

59.1%

Asian

14.5%

Hispanic or Latino

12.6%

Black or African American

10.2%

Unknown

3.6%
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Foreign Languages Spoken

Portuguese

16.7%

Spanish

16.7%

Japanese

16.7%

French

11.1%

Chinese

5.6%

German

5.6%

Malay

5.6%

Cantonese

5.6%

Mandarin

5.6%

Korean

5.6%

Italian

5.6%
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Principal Business Analyst Education

Schools

University of Phoenix

21.8%

George Washington University

9.0%

Trinity University

6.4%

North Carolina State University

5.1%

Villanova University

5.1%

University of Southern California

5.1%

Southern Methodist University

3.8%

Boston College

3.8%

Pennsylvania State University

3.8%

Loyola Marymount University

3.8%

University of Houston

3.8%

University of Chicago

3.8%

George Mason University

3.8%

Hult International Business School

3.8%

Suffolk University

3.8%

Syracuse University

2.6%

University of San Francisco

2.6%

University of Massachusetts - Boston

2.6%

Miami University

2.6%

Northwood University

2.6%
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Majors

Business

34.8%

Finance

10.1%

Computer Science

6.3%

Project Management

5.6%

Management

5.2%

Accounting

4.9%

Marketing

3.5%

Electrical Engineering

3.1%

Information Technology

3.1%

Computer Information Systems

3.1%

Management Information Systems

2.8%

Communication

2.8%

Information Systems

2.8%

Law

2.4%

International Business

2.1%

Political Science

2.1%

Management Science

1.7%

Economics

1.4%

General Studies

1.0%

Liberal Arts

1.0%
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Degrees

Masters

43.0%

Bachelors

35.8%

Other

9.7%

Certificate

4.9%

Doctorate

4.1%

Associate

2.0%

Diploma

0.5%
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