Business Analyst Salary in Canada

Business Analyst is a person who analyses and interprets an organization's processes, systems, and workflows using data to optimise and improve business efficiency. The salary of business analysts varies based on industry, experience, location, employer, and other factors. The average Business Analyst Salary in Canada is 95,990 CAD (58.1 lacs) per year.

Business Analysts have to be involved in project management, testing, quality assurance, and support the business development. As Canada is a business-friendly country and has a shortage of manpower, there is a huge scope for business analyst jobs. Canada is a safe country with a high standard of living where you earn a good salary and enjoy work-life balance.

Scope for Business Analysts in Canada

Business analysts are vital for any business now. With a fast-growing economy and the presence of numerous companies in Canada, the demand for business analysts has skyrocketed. Canada is a country facing a skill shortage due to which the demand and salary for most professions are high. The salary range of a business analyst in Canada is from $65,000 to CAD $100,000 per year. Industries like finance, healthcare, and technology are thriving in Canada which has opened up a plethora of opportunities for business analysts to work. A business analyst can earn around $40.66 per hour in Canada.

Industries Providing High Salary for Business Analysts in Canada

These are some industries where business analysts have huge demand and get paid well.

• Finance and banking
• Technology
• Healthcare
• Consulting
• Energy
• Retail and consumer goods
• Telecommunications
• Government and public sector
• Transportation and logistics
• Manufacturing

Highest-paying Cities for Business Analysts in Canada

Ottawa, ON - CAD 108,564 per year
Calgary, AB - CAD 104,047 per year
Montréal, QC - CAD 98,789 per year
Vancouver, BC - CAD 97,541 per year
Toronto, ON - CAD 96,135 per year
Mississauga, ON - CAD 95,731 per year
Markham, ON - CAD 93,739 per year
Brampton, ON - CAD 90663 per year
Winnipeg, MB - CAD 85,767 per year

Source: https://ca.indeed.com/

Salary for Jobs related to Business Analyst in Canada

1. Data Analyst - Average $63,858 per year
2. Business Intelligence Analyst - Average $75,252 per year
3. Business Systems Analyst - Average $78,834 per year
4. Operations Analyst - Average $60,438 per year
5. Reporting Analyst - Average $66,674 per year
6. Test Analyst - Average $85,441 per year
7. Quantitative Analyst - Average $89,829 per year

Business Analyst Salary in Canada by Experience

Skills required for a Business Analyst

To get a job as a Business analyst, you require to master certain technical and soft skills. You are expected to have core technical skills like data analysis and data visualization. Business analysts should have hands-on experience in programming languages like R and Python and databases like MySQL, Oracle DB, and NoSQL. Knowledge of project management methodologies and software development lifecycles is also an important skill. In addition, business analysts should have soft skills like good communication, critical thinking, and problem-solving abilities. Organisations prefer those business analysts with good organisational and time-management skills who can effectively prioritise tasks and manage their demands. Business analysts must possess a good knowledge of the business and understand the goals of the organisation.

Conclusion

A Business Analyst’s salary varies depending on many factors like location, experience, company, and industry. On average, a Business Analyst in Canada can expect to get a salary of around $70000 per year. Keep in mind that salary should not be the only factor to consider while pursuing your career. You should also consider factors like job satisfaction, work culture, and growth opportunities.

Frequently Asked Questions

1.  What are the top companies for business analysts in Canada?

McKinsey & Company, Vaco Lannick, TC Energy, Canadian National Railway, and TATA TCS are some of the top companies for Business Analysts in Canada.

2.  What is a business analyst's salary in Canada?

The average salary of a Business Analyst in Canada is around CAD 8000 per month. The salary of a business analyst starts from CAD 7000 and can go up to CAD 11,500 per month.

3.  Is business analyst a good career in Canada?

Business Analyst is a job with immense career growth opportunities. A business analyst assesses business models, identifies vulnerabilities, and devises solutions for organizations. Every business that needs to grow nowadays hires business analysts in their team or relies on third-party business analysts.

4.  Do business analysts get paid well?

Business Analyst is a well-paid job everywhere in the world. Canada comes in the top 10 highest-paying countries for business analysts.

5.  Is business analyst a stressful job?

If you are passionate about your job, you won't find this job stressful. Business analyst jobs have the flexibility to work from anywhere. This job is also considered less stressful than other high-demand jobs according to Forbes.