If You Are Alive, You Want More Money! or you’ve been thinking of ways to increase your salary as a business analyst … yes, you have.
If you’re human and still breathing, what you get paid and how to make more money crosses your mind ever so often.
For good or bad, it is human nature to always want more.
We want more money, more love, more space, more friends and more fun.
This can be a bad thing, if it becomes an obsession that overtakes the desire to do a good job.
On the other hand, the desire for more money drives innovation and provides the motivation to become better at what we do.
The second approach could actually be considered healthy, but it is often ignored on the path to asking for a larger salary.
I have observed computer programmers and business analysts who simply focused on the dollar signs and hopped from job to job and company to company, gaining $1 – $3 per hour salary increases each time.
$3 per hour translates to an additional $6000 per year and that is nothing to sneeze at.
However, that approach is based on a sense of entitlement and neglects the fact that eventually, someone is going to take a good hard look at the value you produce and realize that you’re really not worth it.
So, unless your salary increases are matched by an equal or greater increase in the value you bring to the table or provide to your employer, you will not be able to sustain it!
Don’t Worry About Money, Focus on Expertise
A better, longer-term and more productive way to increase your compensation is to focus on increasing your expertise as a business analyst.
Begin to think in terms of increasing the value you provide to employers.
Answer this question as a reality check … what is your positive impact on the company’s bottom line?
As an employee, you represent a cost to your company: your salary, training and benefits negatively impact your employer’s bottom line unless you provide real-value over and beyond what you are paid!
If you begin to incrementally increase your business analysis expertise and responsibility, your value and expertise will increase and you will as a consequence become more valuable on the job.
As your expertise increases in quantifiable ways, your platform for asking for more money is made sure and fool-proof.
Make it your goal to become an expert business analyst and the money will follow.
What Does an Expert Business Analyst Look Like?
What does it mean to be an expert business analyst?
An expert business analyst is one who easily excels at carrying out the majority of the tasks assigned to them.
Your answer to issues on the job should be “Not a problem. I will implement it right away, 80% of the time or Give me a couple of hours, and I will have an answer for you, the other 20% of the time”.
Do you fit in with this description? If your current daily business analysis tasks and challenges do not lie comfortably within your circle of business and technical competence, you should focus on increasing your ability to solve those problems until it becomes as easy as pie. Then, ask for more money and more responsibility.
Ask yourself, if something suddenly went horribly wrong on your current project, would you have enough depth and breadth of knowledge to quickly find the solution to the problem?
How long would it take you to get the project back on track? Note that a quick turnaround is the mark of the expert business analyst.
Steps to Becoming an Expert Business Analyst
So, how do you become an expert business analyst or add more value to your organization? The key is to expand the tools and techniques you have mastery over through continuous learning.
To be an exceptional business analyst, you need to commit yourself to life-long education and training.
Be willing to run ahead of the curve to learn new techniques and master new skills. Register for Business Analyst training or Seek out mentors and coaches who can lead you into new knowledge areas or master business analyst through your own self study efforts.
If you are really interested in making more money by becoming an expert business analyst, begin by mastering the art of business analysis including:
- Requirements Planning
- Requirements Elicitation, Analysis and Documentation
- Elicitation Tools and Techniques
- Requirements Verification and Validation
- Business Modeling
- Business Case Development
- Requirements Change Management
- Requirements Baseline Management
- Agile Software Development
- Much more …