What to Expect: Business Intelligence Specialist Salary in 2021
Introduction
Business Intelligence (BI) is a field that has been growing exponentially in recent years, with the massive data explosion and digital transformation. The demand for experts who can help organizations process, analyze, and gain insights from their data is at an all-time high. Business Intelligence Specialists are professionals who specialize in this area and help companies make informed decisions. One of the top concerns for those looking to pursue a career in this field is what kind of salary they can expect. In this article, we will explore the current state of business intelligence specialist salaries and what to expect for 2021.
The Current State of Business Intelligence Specialist Salaries
According to Glassdoor, the average salary for a Business Intelligence Specialist in the United States is $87,000 per year. However, salaries can range from $62,000 to $123,000 depending on experience, the size of the company, and location. In general, the larger the company, the higher the salary, and this trend holds true in the field of BI as well.
In terms of location, cities with a high cost of living such as New York City and San Francisco tend to have higher salaries compared to other parts of the country. As expected, years of experience also play a significant role in determining salary levels. The more experience a business intelligence specialist has, the more they can demand regarding compensation.
Business Intelligence Specialist Salary Changes in 2021
In 2021, the overall trend is for salaries to increase for BI specialists. According to Salary.com, the median salary for a BI Specialist in the United States is expected to be around $106,500 annually. This indicates a 3.4% increase from the previous year. This growth can be attributed to the increasing importance of data analytics and the insights gained from BI tools. The world is data-driven now, and realizing the potential of data to drive revenue growth, companies are investing more and more in Business Intelligence functions.
The Importance of Certifications and Experience
Certifications and experience play a vital role in determining the salary of business intelligence specialists. Certified professionals often have higher salaries compared to those who are not certified. Certifications include Certified Business Intelligence Professional (CBIP) and Microsoft Certified Solutions Expert (MCSE). Experienced business intelligence specialists usually make more than those who are relatively new to the field.
Moreover, experience provides the chance to learn about different business domains in addition to developing technical skills and building domain knowledge.
In Conclusion
As businesses continue to invest in data analytics, the demand for business intelligence specialists will increase in 2021, and so will the need to attract and retain experts in the field. As such, we expect to see rising salaries for BI specialists in 2021. Experienced professionals with certifications will be in the best position to demand premium packages. Professionals new to the field can rely on relevant academic qualifications, relevant internships, volunteer opportunities and seek training programs to get the requisite knowledge and experience for the job. Students, who are about to graduate, are well advised to concentrate on analytics, data science courses along with domain knowledge, to get an edge in the job market.
