How to Make 6 Figures As A Business Analyst? (11 Best Ways in 2024)
So you want to make six figures as a business analyst? Good for you! Being a business analyst is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a business analyst - business ideas you can start to achieve such income. Keep reading to learn more!
1. Create an online course ($82.8K/month)
Creating an online course could help you make six figures as a business analyst by leveraging your specialized knowledge and expertise to fill educational gaps in your field. By developing engaging video lessons and supplementary materials, you could attract students who are eager to advance their careers through convenient, self-paced learning.
As your student base grows, the potential for passive income increases, providing a stable revenue stream with relatively low startup costs. For those who enjoy sharing information, launching an online course platform allows you to monetize your instructional talents while serving a community of lifelong learners interested in emerging business analysis topics.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
2. Start a freelance writing business ($62.6K/month)
Starting a freelance writing business could significantly supplement your income and help you make six figures as a business analyst. By leveraging your strong analytical skills, industry knowledge, and business acumen, you could write compelling articles, reports, or even whitepapers for a variety of clients who value expertise in business analysis.
Working as a freelance writer offers flexibility, allowing you to set your own schedule and work from home, making it easier to balance with your primary job. To succeed, you would need to possess strong writing skills, meet deadlines consistently, and stay updated with current writing trends and tools. Having proper communication skills and being a self-starter could further enhance your ability to attract and retain high-paying clients in various niches.
With the right approach and dedication, freelance writing could not only provide a steady additional income but could also evolve into a lucrative side business, significantly contributing to your goal of making six figures.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
3. Become a social media influencer ($57.4K/month)
Becoming a social media influencer could significantly boost your income as a business analyst, potentially helping you reach the coveted six-figure mark. Social media platforms like Instagram, YouTube, Facebook, and TikTok are teeming with opportunities for individuals who can create engaging and informative content. By leveraging your expertise in business analysis, you could attract a large audience interested in insights, tips, and trends related to this field.
Brands eager to connect with your niche audience may reach out for partnerships, allowing you to capitalize on sponsored posts, affiliate marketing, or even launch your own products and services. The credibility you build as a knowledgeable influencer can also lead to speaking gigs, consulting opportunities, and other revenue streams.
Ultimately, with the right strategy and dedication, establishing yourself as a social media influencer not only supplements your income but also opens new avenues for career growth and entrepreneurial success.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
4. Start a youtube channel ($146K/month)
Starting a YouTube channel could provide business analysts with a lucrative side business or even transition into a full-time venture, potentially helping to make six figures. With YouTube’s established monetization system and massive user base, you could generate substantial revenue by creating content around business analytics, data trends, and career advice, attracting a dedicated audience interested in your expertise.
By reaching at least 1,000 subscribers and 4,000 watch hours in the past 12 months, you could join the YouTube Partner Program, unlocking ad revenue as an additional income stream. Moreover, leveraging YouTube’s popularity, you could engage in brand partnerships, sponsored content, and merchandising, significantly boosting your earnings and establishing another reliable source of income.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
5. Start a social media marketing agency ($386K/month)
Starting a social media marketing agency could be an excellent way for a business analyst to make six figures by leveraging their analytical skills and market insights. You could take advantage of automation tools to streamline operations, allowing you to supplement your income without the need for a full-time commitment.
Developing an effective social media marketing strategy and creating a comprehensive agency portfolio could help you attract and retain clients, driving substantial revenue growth. Whether you aim to clear utility bills, finance education, or save for a vacation, this side business offers you the flexibility and potential to significantly boost your overall earnings.
How much you can make: $1,000 — $4,166,667/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 75 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
6. Start a blog ($44.9K/month)
Starting a blog could be a highly effective way to supplement your income as a business analyst, potentially elevating you to a six-figure salary. By sharing your expertise and insights on industry trends, data analysis techniques, and business strategies, you could attract a wide readership and establish yourself as an authority in your field. Blogs have become the 5th most trustworthy source of online information, with 77% of internet users reading blogs and 409 million people viewing more than 20 billion pages each month, according to Optinmonster's blogging statistics.
Given the high trust and large audience that blogs attract, you could monetize your content through various means such as advertising, sponsored posts, and affiliate marketing. Additionally, a well-maintained blog could open doors to other lucrative opportunities like speaking engagements, consultations, or even a book deal. With a strategic approach to content, posting routines, and audience engagement, a blog could become a significant revenue stream in its own right or an excellent complement to your primary career as a business analyst.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
7. Start an ecommerce store ($287K/month)
Starting an ecommerce store could help you make six figures as a business analyst by leveraging your analytical skills to identify market trends and consumer behaviors. By understanding data-driven insights, you could tailor your product offerings to meet specific demands, thereby increasing sales and profitability.
An ecommerce business allows for lower overhead costs and greater flexibility compared to traditional brick-and-mortar setups. This enables you to allocate more resources towards marketing and product development while reaching a wider audience. The booming trend of online shopping means you could tap into a growing market and scale your business more efficiently.
Given the convenience and efficiency that ecommerce offers to consumers, your side business could easily gain traction. Setting up a user-friendly website with reliable payment processing and inventory management systems could streamline operations. As your ecommerce store grows, this additional revenue stream could significantly supplement your income, bringing you closer to achieving a six-figure salary.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
8. Start a podcast ($97.9K/month)
Starting a podcast could help you make six figures as a business analyst by leveraging your expertise to produce valuable content that attracts listeners interested in your niche. By sharing your insights, analyses, and industry experiences, you could build a dedicated audience of professionals and enthusiasts who find value in your discussions.
As your podcast grows, it could open up opportunities for sponsorships and advertising revenue. Additionally, a popular podcast could position you as a thought leader in the business analysis community, leading to lucrative speaking engagements, consulting offers, and premium content subscriptions.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
9. Start a career coaching business ($48.5K/month)
Starting a career coaching business could be a lucrative avenue for supplementing your income as a business analyst. By leveraging your expertise in professional development and workplace dynamics, you could offer personalized guidance on resume building, interview preparation, and career advancement strategies. This service would meet a growing demand for tailored professional advice, providing an additional revenue stream.
Moreover, the flexibility of scheduling in-person or virtual sessions allows you to build a client base at your own pace while maintaining your primary role. If you have a knack for motivational speaking and a background in human resources, career coaching can be an ideal way to monetize these skills. This entrepreneurial venture not only maximizes your earning potential but also empowers others to achieve their career aspirations.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
10. Digital products ($242K/month)
Starting a digital products business could help you supplement your income as a business analyst and potentially make six figures. Since digital products are top-rated and easy to create, you could leverage your existing skills and knowledge to develop software-based products like apps or games, or information-based products like ebooks or online courses.
Digital products also have virtually no overhead costs since there's no physical inventory, which means you can sell directly from your website without worrying about merchandise storage. This scalability allows you to reach a broader audience and generate passive income, transforming your entrepreneurial aspirations into a lucrative side business or even a full-time venture. The possibilities are endless and tailored perfectly for the enterprising business analyst seeking to diversify their income streams.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
11. Become an affiliate marketer ($55.3K/month)
As a business analyst, you could supplement your income and ultimately make six figures by venturing into affiliate marketing. This business model involves promoting other companies' products or services and earning a commission for every sale made through your referral. Given your analytical skills, you could excel at identifying profitable niches and using data-driven strategies to drive traffic and increase conversions.
Affiliate marketing is particularly attractive because it requires minimal upfront investment. You wouldn’t need to create or own the products, allowing you to focus your efforts on marketing and promotional activities. By leveraging your expertise in data analysis, you could optimize your marketing campaigns, maximize your commissions, and gradually build a substantial secondary income stream.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
