Becoming a Business Analyst Contractor

(4 minutes to read)

Organisations will normally look for business analyst contractors to work on a short-term project as they will bring skills that some of the in-house team will not have.

Business analysts crucial for an organisation as they are able to improve an organisations productivity. Therefore, business analyst contractor roles are in demand and are continuing to grow due to the benefits it gives. Some of the benefits it can provide are:

  • Working on a variety of projects will give you more experience
  • You are able to choose what projects to work on
  • Contracting provides more flexibility
  • The chance to earn more money

What would a business analyst contractor do?

Business analyst contractors are responsible for improving an organisation’s efficiency by identifying business needs and problems. They can improve new systems, processes and strategies through using a variety of tools. Tools that business analyst contractors commonly use are software based, for example, MS Visio, MS Visual Studio, Enterprise Architect and StereoLogic. A business analyst contractor will work alongside project managers and software developers to understand requirements and create solutions. Supporting the overall team through the project lifecycle, they will ensure that tests are run smoothly to keep their clients happy.

As business analyst contractor’s main responsibility is to identify problems and processes to improve along with finding solutions, they will also find themselves responsible for other business functions such as:

  • Gathering information about the problem that needs to be solved
  • Analysing financial and other data, including revenue and expenditure
  • Developing solutions for the gathered problems
  • Making recommendations through reports or presentations
  • Having up to date knowledge on the latest processes and IT advancements
  • Working closely with clients and technicians

The work of a business analyst contractor will vary from project to project. Not only is every project different but working on a contractual basis, they will need to work with different teams. As a result of this, a business analyst contractor will need to have several skills from soft to technical.

The soft skills a business analyst contractor would need to have are:

  • Communication
  • Problem solving
  • Design skills
  • Prioritisation
  • Stakeholder management

These skills would be used for every project a business analyst contractor works on and some are vital for a project to succeed. Business analyst contractors also have to understand and have knowledge on technical skills such as:

  • Data base concepts like OOPS and OOAD
  • Modelling software’s like Rational Rose and Star UML
  • BPM tools like MS Visio and Bizagi
  • Software engineering methodologies like Waterfall and Iterative
  • Management tools such as OSRMT, DOORS and Rational Requisite pro
  • Prototyping tools such as Pencil, iRise and SmartDraw

If you have any questions about contracting, please contact Sophie on 01442 795 100

What qualifications would I need as a business analyst

Most business analyst contractors hold a bachelor’s degree in either an IT or business-related subject. However, some business analyst contractors work their way up in other departments before transitioning to a business analyst. It may also be beneficial to undertake some courses where they can gain certificates from:

  • IIBA Certification
  • CBAP Certification
  • BCS Certification

Having these certificates can help significantly if you haven’t got any knowledge about business analysts from achieving a degree. The courses you can take involve a number of different levels so it will be easy to start at the bottom and work your way up if you wanting to change careers.

Daily rates for business analyst contractors

Like many other roles, the salary of a business analyst contractor will depend on several factors. These factors could include, the company you are working for, level of experience and the location of the job.

An entry level business analyst contractor will have experience of 0-12 months. The role will include documenting requirements, sitting in on requirements meetings with stakeholders and clients, making notes and then processing maps. They will typically work on small projects and would have completed some business analyst courses. As an entry level business analyst contractor, your salary would vary around £250 a day.

Mid-level business analyst contractors will have experience of between 12-36 months. Their role will include undertaking requirements interviews and documentation along with requirements prioritisation, validation and reviews. They would’ve work on a few projects being large or small and will understand a variety of modelling tools. As a mid-level business analyst contractor, your salary would vary around £300 a day.

Senior level business analyst contractors will have experience of 4 years+. Their role will include leading the requirements management and planning activities for the project they are working on. They will also be familiar with project management skills which are relevant to a business analyst. As a senior business analyst contractor, your salary would vary around £350-£450 a day.

Finding work as a business analyst Contractor

Job hunting as a business analyst contractor is slightly different than hunting and applying for permanent roles. Instead of filling out lengthy applications and forms, you will get hired just from your CV. Therefore, it is important to make sure your CV is up to date with relevant skills as it is an important marketing tool.

Socialising and attending events where you get to meet other business analysts is a good way of finding your first job at a low cost. However, many business analyst contractors find their first jobs through recruiters. Recruiters can play a big part in helping to find clients. But as some may find them useful, others may find them challenging. If you are looking for a job that will give you the potential to grow, then perhaps going through recruiters isn’t the best idea as they normally will only put you forward for jobs similar to your previous experience.

It has also been recommended that your past employers or colleagues could be the best place to start for finding works as a business analyst contractor. They may be willing to put you in contact with suitable organisations for your level of experience and knowledge.

Alternatively, searching on the internet will help you land a business analyst contract role. Searching on jobsites such as Business Analyst Jobs will help you to find contract work in a location suited to you.

If you are thinking of makign the move to contracting and would like more information please give Sophie a call on 01442 795 200 or email sophie.lewis@dolanaccountancy.com.

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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