We are seeing continual growth within the Business Analysis space as organisations continue to transform.
Whilst there are still numerous BA professionals on the market, there is a shortage of high-calibre individuals as many are already working on similar projects for other organisations. This is particularly true in the regulatory, lending, digital and process spaces, especially if these individuals have strong Agile experience. This also means that when these individuals are on the market, it is rarely for very long.
There is a continual demand for Agile experience as organisations can see the benefits of running a project / program of work using this methodology. Historically, these were mainly projects within the technology space however more recently, we are seeing an increase in this method being used across most projects, even within the Risk & Compliance / Regulatory space, which has previously needed to be heavily documented.
In addition to the demand for candidates with experience working in an Agile environment, there is also strong demand for Process BA’s, Digital BA’s and Risk BA’s. We are expecting this demand to continue as we move through the year.
For the most part, the preference from organizations is to hire a BA from the local market. This is mainly so they can leverage from their experience of working on similar projects previously in the local market. Following Australia, the UK is the next highly desired market for BA’s, due to the larger hub of organizations being based there within both the Financial Services and Commerce & Industry sectors. However, with the new visa changes, fewer people are considering making the move over to Australia. On the opposite side of the coin, many Australians relocate to roles in Asia and the UK to gain international experience.
Many organizations also use vendors and consultancy resources to fill their BA roles, particularly when it comes to the technical side of projects.
Unlike many other industries, the BA space has a relatively even divide between male and female employees and has for some time.
Businesses are increasingly employing Fixed Term & Permanent BA’s as transformation, automation and improving processes / the customer experience is not going away. By hiring BA’s as permanent employees, organisations can retain the knowledge and internal relationships that they have developed. Having said this, around 70% of the BA work force prefers to work on a contractual basis as this gives them better flexibility, exposure to different environments and is also more lucrative from a financial perspective.
In addition to this, Permanent & Fixed Term Contract roles are often supported by internal recruitment teams, with most businesses engaging recruitment partners, such as Morgan McKinley, for their day rate contract opportunities
In 2018, we are not expecting contract day rates to vary too much from those offered in 2017. However, as businesses are increasingly looking for BA’s on a Fixed Term or Permanent basis, we envisage that we will see an increase in these salaries.
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