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Business Analyst Average Salary in Bulgaria 2020

How much money does a Business Analyst make in Bulgaria?


Average Monthly Salary
5,560 BGN
( 66,800 BGN yearly)

LOW
2,890
BGN
AVERAGE
5,560
BGN
HIGH
8,510
BGN

A person working as a Business Analyst in Bulgaria typically earns around 5,560 BGN per month. Salaries range from 2,890 BGN (lowest) to 8,510 BGN (highest).

This is the average monthly salary including housing, transport, and other benefits. Business Analyst salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Business Analyst Salary Distribution in Bulgaria

Median and salary distribution monthly Bulgaria Business Analyst
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The median, the maximum, the minimum, and the range

  • Salary Range

    Business Analyst salaries in Bulgaria range from 2,890 BGN per month (minimum salary) to 8,510 BGN per month (maximum salary).

  • Median Salary

    The median salary is 5,340 BGN per month, which means that half (50%) of people working as Business Analyst(s) are earning less than 5,340 BGN while the other half are earning more than 5,340 BGN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Business Analyst(s) are earning less than 3,710 BGN while 75% of them are earning more than 3,710 BGN. Also from the diagram, 75% of Business Analyst(s) are earning less than 6,650 BGN while 25% are earning more than 6,650 BGN.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Business Analyst Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Bulgaria Business Analyst
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Business Analyst salaries by experience level and this is what we found.

A Business Analyst with less than two years of experience makes approximately 3,290 BGN per month.

While someone with an experience level between two and five years is expected to earn 4,410 BGN per month, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 5,730 BGN per month, 30% more than someone with two to five years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Additionally, Business Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 6,940 BGN per month, 21% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 7,590 BGN per month, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 7,980 BGN per month, 5% more than people with fifteen to twenty years of experience.


Business Analyst average salary change by experience in Bulgaria

0 - 2 Years
3,290 BGN
2 - 5 Years+34%
4,410 BGN
5 - 10 Years+30%
5,730 BGN
10 - 15 Years+21%
6,940 BGN
15 - 20 Years+9%
7,590 BGN
20+ Years+5%
7,980 BGN
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Business Analyst Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Business Analyst(s) who have the same experience but different education levels.

Salary comparison by education level monthly Bulgaria Business Analyst
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Business Analyst salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Business Analyst is 3,960 BGN per month.

While someone with a Certificate or Diploma gets a salary of 4,520 BGN per month, 14% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 6,380 BGN per month, 41% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 7,730 BGN per month, 21% more than someone with Bachelor's Degree.


Business Analyst average salary difference by education level in Bulgaria

High School
3,960 BGN
Certificate or Diploma+14%
4,520 BGN
Bachelor's Degree+41%
6,380 BGN
Master's Degree+21%
7,730 BGN
Percentage increase and decrease are relative to the previous value

Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Bulgaria costs anywhere from 24,100 Bulgarian Lev(s) to 72,200 Bulgarian Lev(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Business Analyst Salary Comparison By Gender

Salary comparison by gender monthly Bulgaria Business Analyst
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Business Analyst employees in Bulgaria earn 8% more than their female counterparts.

Female
5,390 BGN
Male+8%
5,810 BGN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bulgaria for all Careers

Salary comparison by gender monthly Bulgaria
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Business Analyst Average Annual Salary Increment Percentage in Bulgaria

How much are annual salary increments in Bulgaria for Business Analyst(s)? How often do employees get salary raises?

Business Analyst

Business Analyst(s) in Bulgaria are likely to observe a salary increase of approximately 12% every 19 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.

Annual Salary Increment Rate Bulgaria Business Analyst
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Bulgaria / All Professions

Annual Salary Increment Rate Bulgaria
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The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Bulgaria is 4%.

Annual Increment Rate By Industry 2019

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Listed above are the average annual increase rates for each industry in Bulgaria for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Business Analyst Bonus and Incentive Rates in Bulgaria

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bulgaria Business Analyst
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A Business Analyst is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

24% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 76% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
76%
No Bonus
24%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Bulgaria
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Where can you get paid more, working for a private company or for the government? Public sector Business Analyst employees in Bulgaria earn 9% more than their private sector counterparts.

Private Sector
4,560 BGN
Public Sector+9%
4,980 BGN
Percentage increase and decrease are relative to the previous value

Business Analyst Salary Trend and Forecast in Bulgaria

How are Business Analyst salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Bulgaria Business Analyst
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Average Salary 2016
4,940 BGN
Average Salary 2017+4%
5,120 BGN
Average Salary 2018+2%
5,220 BGN
Average Salary 2019+3%
5,370 BGN
Percentage increase and decrease are relative to the previous value

Business Analyst salaries in Bulgaria are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Business Analyst Average Hourly Wage in Bulgaria


32 BGN per hour

The average hourly wage (pay per hour) in Bulgaria is 32 BGN. This means that the average Business Analyst in Bulgaria earns approximately 32 BGN for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Business Analyst VS Other Jobs

Salary Comparison Between Business Analyst and Business Planning monthly Bulgaria
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The average salary for Business Analyst is 2% more than that of Business Planning. Also, Business Planning salaries are 13% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Assistant Business Development Manager5,090 BGN-9%
Assistant Merchandise Planner4,960 BGN-11%
Business Advisor5,950 BGN+7%
Business Analyst5,560 BGN-0%
Business Consultant5,870 BGN+5%
Business Continuity Associate5,220 BGN-6%
Business Development Associate4,750 BGN-15%
Business Development Coordinator4,620 BGN-17%
Business Development Manager6,980 BGN+25%
Business Development Specialist5,790 BGN+4%
Business Operations Specialist5,920 BGN+6%
Business Process Writer5,090 BGN-9%
Capacity Planner4,970 BGN-11%
Capacity Planning Supervisor5,630 BGN+1%
Change Communications Analyst5,620 BGN+1%
Change Control Analyst5,370 BGN-3%
Contracts Executive6,000 BGN+8%
Corporate Strategy Analyst6,240 BGN+12%
Cost Control Engineer5,110 BGN-8%
Cost Estimator4,490 BGN-19%
Data Executive4,350 BGN-22%
Development Researcher4,470 BGN-20%
Due Diligence Analyst6,230 BGN+12%
Estimating Manager6,690 BGN+20%
General Manager7,090 BGN+27%
Incident Handler5,150 BGN-7%
Incident Specialist5,500 BGN-1%
Lean Consultant4,770 BGN-14%
Manager8,180 BGN+47%
Materials Planner3,800 BGN-32%
Merchandise Controller3,650 BGN-34%
Merchandise Planner3,810 BGN-32%
Operations Analyst4,480 BGN-19%
Operations Research Analyst5,200 BGN-7%
Planning and Reporting Manager5,630 BGN+1%
Planning Director8,050 BGN+45%
Project Administrator4,910 BGN-12%
Project Manager5,550 BGN-0%
Project Planner5,070 BGN-9%
Research Assistant5,110 BGN-8%
Research Engineer5,050 BGN-9%
Research Officer4,660 BGN-16%
Risk Management Specialist5,650 BGN+2%
Scholarship Coordinator4,210 BGN-24%
Store Planner4,730 BGN-15%
Strategy Director7,870 BGN+41%
Top Research and Development Executive8,740 BGN+57%

Salary Comparison By City

CityAverage Salary
Burgas5,750 BGN
Plovdiv5,840 BGN
Rousse5,250 BGN
Sofia6,500 BGN
Stara Zagora5,200 BGN
Varna5,800 BGN
1567 - 3

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