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 salaries in Bulgaria range from 2,890 BGN per month (minimum salary) to 8,510 BGN per month (maximum 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.
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.
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
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.
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.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+30%|
|10 - 15 Years||+21%|
|15 - 20 Years||+9%|
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.
|Certificate or Diploma||+14%|
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.
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.
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.
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.
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
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.
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.
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.
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.
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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.
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.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+2%|
|Average Salary 2019||+3%|
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.
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.
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.
|Job Title||Average Salary|
|Assistant Business Development Manager||5,090 BGN||-9%|
|Assistant Merchandise Planner||4,960 BGN||-11%|
|Business Advisor||5,950 BGN||+7%|
|Business Analyst||5,560 BGN||-0%|
|Business Consultant||5,870 BGN||+5%|
|Business Continuity Associate||5,220 BGN||-6%|
|Business Development Associate||4,750 BGN||-15%|
|Business Development Coordinator||4,620 BGN||-17%|
|Business Development Manager||6,980 BGN||+25%|
|Business Development Specialist||5,790 BGN||+4%|
|Business Operations Specialist||5,920 BGN||+6%|
|Business Process Writer||5,090 BGN||-9%|
|Capacity Planner||4,970 BGN||-11%|
|Capacity Planning Supervisor||5,630 BGN||+1%|
|Change Communications Analyst||5,620 BGN||+1%|
|Change Control Analyst||5,370 BGN||-3%|
|Contracts Executive||6,000 BGN||+8%|
|Corporate Strategy Analyst||6,240 BGN||+12%|
|Cost Control Engineer||5,110 BGN||-8%|
|Cost Estimator||4,490 BGN||-19%|
|Data Executive||4,350 BGN||-22%|
|Development Researcher||4,470 BGN||-20%|
|Due Diligence Analyst||6,230 BGN||+12%|
|Estimating Manager||6,690 BGN||+20%|
|General Manager||7,090 BGN||+27%|
|Incident Handler||5,150 BGN||-7%|
|Incident Specialist||5,500 BGN||-1%|
|Lean Consultant||4,770 BGN||-14%|
|Materials Planner||3,800 BGN||-32%|
|Merchandise Controller||3,650 BGN||-34%|
|Merchandise Planner||3,810 BGN||-32%|
|Operations Analyst||4,480 BGN||-19%|
|Operations Research Analyst||5,200 BGN||-7%|
|Planning and Reporting Manager||5,630 BGN||+1%|
|Planning Director||8,050 BGN||+45%|
|Project Administrator||4,910 BGN||-12%|
|Project Manager||5,550 BGN||-0%|
|Project Planner||5,070 BGN||-9%|
|Research Assistant||5,110 BGN||-8%|
|Research Engineer||5,050 BGN||-9%|
|Research Officer||4,660 BGN||-16%|
|Risk Management Specialist||5,650 BGN||+2%|
|Scholarship Coordinator||4,210 BGN||-24%|
|Store Planner||4,730 BGN||-15%|
|Strategy Director||7,870 BGN||+41%|
|Top Research and Development Executive||8,740 BGN||+57%|
|Stara Zagora||5,200 BGN|