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Masters in Business Analytics (MSBA): Scope, Salary, and Top Hiring Companies

Masters in Business Analytics (MSBA): Scope, Salary, and Top Hiring Companies

In this blog, we’ll discuss what an MSBA is and why it’s gaining popularity among students and professionals. Also, we’ll talk about the requirements for joining an MSBA program, the job options, and the tempting salaries for MSBA graduates. We’ll also mention some of the top companies that hire MSBA graduates.

Table of Contents

What is a Masters in Business Analytics?

A master’s degree in business analytics is a specialized graduate program that gives students the information and abilities to successfully navigate the challenging field of data analytics. Students enrolled in this program gain an understanding of statistical methods, data mining, machine learning, and other advanced analytics techniques, along with marketing analytics and financial modeling. The curriculum of this course involves hands-on projects, case studies, and real-world applications to provide practical proficiency in business analytics.

Across all businesses, there is an increased need for experts in business analytics. By earning a master’s degree in business analytics, individuals can position themselves for promising job opportunities in e-commerce, marketing, finance, consulting, and healthcare.

The program covers statistical analysis, data mining, machine learning, and data visualization. These skills enable converting raw data into valuable insights that impact organizational strategy. A master’s degree in business analytics is flexible and can lead to a number of different employment options.

The duration of full-time MSBA programs is usually 12 to 18 months, whereas part-time MSBA programs can take 24 to 36 months to complete.

Check out this blog to learn about Career Opportunities After MBA.

Why Should You Enroll In a Masters in Business Analytics?

Earning a master’s in business analytics degree can positively impact your career and personal growth. Here are the key advantages:

  • Valuable Skills: MSBA programs equip you with valuable analytical techniques and data management skills that are highly sought-after in various industries.
  • Lucrative Career Paths: Graduates can explore well-paying roles like data analysts, business intelligence analysts, and consultants.
  • Competitive Edge: An MSBA degree sets you apart in the job market, showcasing your ability to derive meaningful insights from data.
  • Networking Opportunities: The program offers chances to connect with professionals, paving the way for internships and career advancements.
  • Global Exposure: With a global perspective on data analytics, this degree opens doors to international career opportunities.

These benefits contribute to your professional growth, job satisfaction, and success in the business analytics field, preparing you to make a significant impact in diverse industries.

Eligibility Criteria for a Master’s Degree in Business Analytics

To be eligible for a Masters in Business Analytics (MSBA), you usually need to meet the following criteria: 

  • Academic Background: Many Masters of Business Analytics (MSBA) programs give preference to applicants with a bachelor’s degree in a quantitative field, like math, statistics, computer science, engineering, or economics. However, some programs might consider students from different fields if they have completed extra courses in quantitative methods.
  • Standardized Test Scores: Many programs ask for GMAT or GRE scores, although exceptional academic records and work experience might lead to a waiver. Minimum score requirements vary according to the program’s specific criteria.
  • Work Experience: The work experience needed for a Master’s in Business Analytics (MSBA) can differ among programs. While some programs require no work experience, others may ask for one to two years of experience. Typically, programs that are more competitive or specialize in a particular industry may require more work experience. For instance, an MSBA program concentrating on financial analytics might expect applicants to have prior experience in the financial sector.
  • Recommendations: Submitting two or three letters of recommendation from academic or professional sources is generally required. These letters should speak to the applicant’s academic performance, quantitative skills, and potential for success in an MSBA program.
  • Statement of Purpose: A statement of purpose (SOP) is a personal statement that is required for Master of Business Analytics (MSBA) programs. The SOP is your opportunity to tell the admissions committee why you are interested in the program and how you plan to use the degree. Some programs may also require a portfolio or an interview.
  • English Proficiency: International students not fluent in English may need to provide TOEFL or IELTS scores, but some programs waive this for those who studied in English during their undergraduate years.

It is important to note that this is a general eligibility criterion and may not necessarily apply to all universities.

Check out the list of the best colleges for MBA in India.

Career Opportunities and Salary After MSBA

There are several career paths available for MSBA graduates in different fields, and these job roles offer attractive salary packages. Some of the job opportunities for MSBA graduates are listed in this section.

  • Data Scientist: A data scientist is an expert who applies statistics, machine learning, and data mining skills to derive insights from vast data sets. They utilize these insights to aid businesses in making improved decisions, enhancing operations, and resolving issues. According to a recent report by LinkedIn, the number of data science job postings has increased by 65% in the past year. This trend is being driven by the increasing demand for data science skills from businesses of all sizes.
  • Financial Analyst: Financial analysts use their knowledge of accounting, finance, and economics to analyze financial data and provide insights to businesses. Financial analysts have a wide range of career opportunities available to them in a variety of industries, including technology, finance, healthcare, retail, and manufacturing.
  • Marketing Analyst: Marketing analysts collect, analyze, and interpret data to help businesses understand their customers and develop more effective marketing campaigns by using a variety of data sources, including surveys, customer feedback, and social media data. There are various fields where marketing analysts are required, including technology, finance, healthcare, retail, media and entertainment, manufacturing, and nonprofit organizations.
  • Operations Analyst: Operations analysts help businesses improve their efficiency and effectiveness by analyzing and optimizing their operations. There are many opportunities for operations analysts to find jobs that match their interests and skills.
  • Business Analyst: Business analysts help businesses understand their needs and goals and then develop and implement solutions to meet those needs. Career opportunities in this field are projected to grow by 22% from 2020 to 2030. 
  • Data Analyst: Data analysts gather and prepare data, study it, share their discoveries, and create and execute solutions based on the data they have examined to support business decision-making. Career opportunities for data analysts are expected to grow rapidly in the coming years across various industries, including technology, finance, healthcare, and marketing. 

The average salaries received by these professionals are given in the table below:

Job TitleAverage Salary in India (INR)Average Salary Abroad (USD) 
Data Scientist12,00,00012,00,000
Financial Analyst9,00,00090,000
Marketing Analyst7,50,00075,000
Operations Analyst6,00,00060,000
Business Analyst6,50,00070,000
Data Analyst5,50,00065,000

It is important to note that this data on average salaries may vary depending on experience, skills, and location.  

Top Companies Hiring MSBA Graduates

Now, let’s explore the top industries actively recruiting Masters in Business Analytics (MSBA) graduates. These industries include technology, finance, healthcare, retail, and consulting. We will also highlight some of the prominent companies within each sector that are known to hire MSBA professionals.

Industry TypeTop Companies Hiring MSBA Graduates
TechnologyGoogle, Amazon, Microsoft, Facebook, Apple, IBM
FinanceGoldman Sachs, JPMorgan Chase, Bank of America, Morgan Stanley, Citigroup
HealthcareUnitedHealth Group, Kaiser Permanente, CVS Health, Walgreens Boots Alliance, HCA Healthcare
RetailWalmart, Target, Costco, Kroger, Home Depot
ConsultingMcKinsey & Company, Boston Consulting Group, Bain & Company, Deloitte, Accenture

Conclusion

In conclusion, opting for a Master’s in Business Analytics (MSBA) program offers numerous opportunities in the data-driven world. With an MSBA, you learn how to handle complex data, draw insights, and make decisions based on data. The increasing demand for professionals with analytics skills in various industries provides plenty of career options and a competitive advantage in the job market. Pursuing an MSBA sets you on a transformative path, providing you with the tools to unlock the potential of data and make a meaningful impact in the corporate world.

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