Average Business Analyst Salary in Madagascar for 2024

In this article, we will look at the average Business Analyst salary for 2024 in Madagascar and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Malagasy ariary. To keep things simple, we are using the MGA currency code instead of the currency symbol Ar.

How Much Does a Business Analyst Make in Madagascar?

A Business Analyst working in Madagascar will typically earn around 20,281,100 MGA per year, and this can range from the lowest average salary of about 10,956,400 MGA to the highest average salary of 30,600,900 MGA.

Average Annual Salary
20,281,100 MGA
Average Monthly Salary
1,690,091 MGA

Lowest Annual Salary
10,956,400 MGA
Lowest Monthly Salary
913,033 MGA

Highest Annual Salary
30,600,900 MGA
Highest Monthly Salary
2,550,075 MGA

These are average salaries for a Business Analyst in Madagascar and include benefits such as housing and transport. It's also possible for a Business Analyst to earn more or less than the average salaries shown above.

Business Analyst salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Business Analyst Salaries in Madagascar

So we've looked at the average salaries a Business Analyst will earn in Madagascar. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Business Analyst can earn between 10,956,400 MGA and 30,600,900 MGA on average in Madagascar. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Business Analyst in Madagascar is 18,598,500 MGA. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 18,598,500 MGA, and 50% of the population earn more than 18,598,500 MGA.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Business Analyst salary in Madagascar, 25% of the population are earning less than 13,319,300 MGA while 75% of the population earn more than 13,319,300 MGA.

75% of the population earn less than 22,681,800 MGA, and 25% of the population earn more than 22,681,800 MGA.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Business Analyst Salary by Experience Level in Madagascar

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average business analyst salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Business Analyst in Madagascar that has less than two years of experience can expect to earn somewhere in the region of 12,721,300 MGA.
  • 2 - 5 Years Experience. With two to five years of experience the average Business Analyst salary would increase to 16,079,800 MGA.
  • 5 - 10 Years Experience. From five to ten years of experience as a Business Analyst, the average salary would be 21,121,400 MGA.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 24,958,800 MGA.
  • 15 - 20 Years Experience. A Business Analyst with 15 to 20 years of experience can earn an average of 27,601,100 MGA.
  • 20+ Years Experience. For a Business Analyst with more than 20 years, the expected average salary increases to 29,399,100 MGA.

Average Salary by Experience Chart

0-2 Years
12,721,300 MGA
2-5 Years +26%
16,079,800 MGA
5-10 Years +32%
21,121,400 MGA
10-15 Years +18%
24,958,800 MGA
15-20 Years +11%
27,601,100 MGA
20+ Years +6%
29,399,100 MGA

Business Analyst Salary by Education Level in Madagascar

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Business Analyst in Madagascar based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Business Analyst in Madagascar with a high school education can earn an average salary of 15,480,300 MGA.

  • Certificate or Diploma. A Business Analyst in Madagascar with a certificate or diploma education can earn an average salary of 17,399,400 MGA.

  • Bachelor's Degree. A Business Analyst in Madagascar with a bachelor's degree education can earn an average salary of 22,918,100 MGA.

  • Master's Degree. A Business Analyst in Madagascar with a master's degree education can earn an average salary of 28,439,500 MGA.

Average Salary by Education Chart

High School
15,480,300 MGA
Certificate or Diploma +13%
17,399,400 MGA
Bachelor's Degree +32%
22,918,100 MGA
Master's Degree +24%
28,439,500 MGA

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Madagascar is around 6,570,000 to 19,700,000 MGA and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Business Analyst Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Madagascar, a male business analyst will earn an average of 20,999,200 MGA, while a female business analyst will earn around 19,200,400 MGA.

This means that a male business analyst earns approximately 9% more than a female business analyst for performing the same job.

Average Salary by Gender Chart in Madagascar

Male
20,999,200 MGA
Female -9%
19,200,400 MGA

Business Analyst Average Pay Raise in Madagascar

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Business Analyst in Madagascar is around 10% every 27 months.

The national average pay raise across all professions and industries in Madagascar is around 5% every 28 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 10 ÷ 27 ) × 12  = 4%

What this means is that a Business Analyst in Madagascar can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Madagascar for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Madagascar.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Business Analyst Bonus and Incentive Rates in Madagascar

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Business Analyst is a moderate bonus based job, with 59% of employees reporting at least one bonus in the last 12 months.

41% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 6% to 7%.

Received Bonus
59%
No Bonus
41%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Madagascar earn approximately 18% more than private sector employees in the same role.

Public Sector
16,679,800 MGA
Private Sector -18%
14,158,800 MGA

Salaries for Jobs Similar to a Business Analyst

In the table below, we have salary information for jobs that are similar to a Business Analyst in Madagascar.

Job Title Category Salary
Assistant Business Development Manager Business Planning 21,361,700 MGA
Assistant Merchandise Planner Business Planning 11,998,600 MGA
Business Advisor Business Planning 19,921,600 MGA
Business Consultant Business Planning 20,281,100 MGA
Business Continuity Associate Business Planning 11,543,100 MGA
Business Developer Business Planning 12,600,600 MGA
Business Development Analyst Business Planning 14,038,300 MGA
Business Development Associate Business Planning 9,886,200 MGA
Business Development Coordinator Business Planning 11,509,500 MGA
Business Development Director Business Planning 28,200,200 MGA
Business Development Engineer Business Planning 16,079,800 MGA
Business Development Executive Business Planning 19,678,200 MGA
Business Development Manager Business Planning 25,801,200 MGA
Business Development Specialist Business Planning 19,439,300 MGA
Business Manager Business Planning 22,441,700 MGA
Business Operations Specialist Business Planning 18,840,100 MGA
Business Process Writer Business Planning 11,794,200 MGA
Business Systems Analyst Business Planning 20,639,100 MGA
Capacity Planner Business Planning 13,919,600 MGA
Capacity Planning Supervisor Business Planning 19,200,400 MGA
Change Communications Analyst Business Planning 17,879,000 MGA
Change Control Analyst Business Planning 18,840,100 MGA
Change Impact Analyst Business Planning 19,558,300 MGA
Contracts Executive Business Planning 18,720,200 MGA
Corporate Strategy Analyst Business Planning 20,518,900 MGA
Cost Control Engineer Business Planning 12,958,200 MGA
Cost Controller Business Planning 15,118,700 MGA
Cost Estimator Business Planning 13,079,500 MGA
Data Executive Business Planning 9,971,500 MGA
Data Manager Business Planning 14,880,300 MGA
Data Processing Manager Business Planning 17,399,400 MGA
Development Researcher Business Planning 14,880,300 MGA
Director of Business Development Business Planning 28,200,200 MGA
Director of Production Planning Business Planning 24,119,700 MGA
Due Diligence Analyst Business Planning 21,599,000 MGA
Estimating Manager Business Planning 20,518,900 MGA
General Manager Business Planning 23,040,200 MGA
Incident Handler Business Planning 14,280,500 MGA
Incident Specialist Business Planning 16,320,700 MGA
Lean Consultant Business Planning 15,118,700 MGA
Manager Business Planning 27,241,100 MGA
Marketing and Business Development Manager Business Planning 24,239,000 MGA
Materials Planner Business Planning 8,521,700 MGA
Merchandise Assistant Business Planning 8,149,100 MGA
Merchandise Controller Business Planning 8,386,300 MGA
Merchandise Planner Business Planning 8,758,900 MGA
Operations Analyst Business Planning 18,598,500 MGA
Operations Manager Business Planning 21,121,400 MGA
Operations Research Analyst Business Planning 12,121,000 MGA
Planning and Reporting Manager Business Planning 20,518,900 MGA
Planning Director Business Planning 26,880,900 MGA
Project Administrator Business Planning 12,239,700 MGA
Project Manager Business Planning 19,799,400 MGA
Project Planner Business Planning 12,481,200 MGA
Research Assistant Business Planning 11,076,200 MGA
Research Engineer Business Planning 12,600,600 MGA
Research Officer Business Planning 9,863,700 MGA
Risk Management Specialist Business Planning 19,078,500 MGA
Scholarship Coordinator Business Planning 9,778,900 MGA
Store Planner Business Planning 9,385,400 MGA
Strategy Director Business Planning 25,801,200 MGA
Top Research and Development Executive Business Planning 28,439,500 MGA

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