Project Analyst Salary

By Henry R. Steele - January 8, 2018
Reading Time: 9 minutes

The following article discusses the career path of Project Analyst. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Project Analysts.

Job Duties

Project analysts are responsible for making sure that new projects are developed properly. They use research, data collection, and data analysis to achieve this. Their results help with strategic decision making at the top levels of the organization. Furthermore, project analysts research new projects and design them using various tools, such as logical framework approaches, to further improve the organization.

It is important that project analysts are able to present new ideas so that current strategic planning is improved. At the same time, they have to consider the different possible outcomes and how these would impact the business. They must use different approaches in order to gather information, which includes statistical data, interviews, market trends, and applicable legislation, using these to analyze possible results.

Project analysts understand economic and financial feasibility studies and how these impacts investment budgets. They perform various administrative activities such as cost control and making estimates, and they monitor each of their project’s activities. They form part of a team, but they also work with external teams and departments, particularly in order to perform research.

Other job duties of a project analyst include:

  • Creating and maintaining the communications, goals, and schedules of the project
  • Creating and managing all reports and documentation in relation to the project
  • Finding out the needs of users have and verifying this using data
  • Tracking, analyzing, reporting on, and forecasting project shortfalls and metrics.

Where We Work

According to the U.S. Bureau of Labor Statistics, there were 806,400 management analysts in 2016, which is a profession closely related to that of project analyst. The largest employers of these professionals were:

  • Professional, scientific, and technical services: 30%
  • Self-employed workers: 17%
  • Government: 17%
  • Finance and insurance: 11%
  • Management of companies and enterprises: 5%

How to Become

Most project analysts have a bachelor’s degree in finance, business administration, public administration, or a related field. Usually, they also have several years of work experience. It is becoming more and more common for a master’s degree, particularly the master in business administration (MBA in Project Management) to be required. Those who work in the military or government also require proof of citizenship and they must obtain secret clearance.

Education Requirements

While the majority of project analysts have a bachelor’s degree at least, it is now increasingly common for a master’s to be required, particularly the master of business administration (MBA). Some also hold additional certifications, such as Certified Management Consultant (CMC). Of importance is that a degree includes courses in subjects such as computer and information science, psychology, marketing, finance, accounting, economics, management, and business.

The CMC certification can be obtained through the Institute of Management Consultants USA (IMC USA). To obtain this, candidates must have sufficient education and experience, present reviews from clients, and pass a written examination and an interview. The examination focuses on the code of ethics as set by the IMC USA. Re-certification is required every three years.

Generally, a project analyst will start at an entry level position, growing into consultancy. Some work as auditors, accountants, market research analysts, or computer systems analysts, for instance. Eventually, they then grow through internal and external promotions into the position of project analyst.

Traits & Qualities

The most effective project analysts have the following traits to some degree or other:

  • Strong analytical skills
  • Excellent communication skills, both verbal and written
  • Great interpersonal skills
  • Good problem solving skills
  • Strong time management skills

Minimum Education

Bachelor’s Degree

National Salary

The national average salary estimate for Project Analyst was $62,133. This number is estimated from over 206,724 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $32.36 and monthly of $5,178.

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$15,000

$141,000

Salary Distribution

Salary by State

The following section lists Project Analyst salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Michigan had the largest quoted salary of $72,802 while Kansas had the smallest quoted salary of $24,364.

Arkansas Iowa Minnesota Oklahoma
Arizona Illinois Missouri Pennsylvania
California Indiana North Carolina South Carolina
Colorado Kansas North Dakota Texas
Connecticut Kentucky Nebraska Virginia
DC Louisiana New Jersey Washington
Delaware Massachusetts Nevada Wisconsin
Florida Maryland New York
Georgia Michigan Ohio
Arkansas$57,508 Rank: 16th
The average salary ranks 16th among states in the country. There were also job openings from employers like Walmart.

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$27,000

$100,000

Salary Distribution
Arizona$50,937 Rank: 25th
The average salary ranks 25th among states in the country. There were also job openings from employers like Datamatics Global Services Ltd, Cor-Tech LLC, Adecco, and Workway.

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$10.75

$49.10

Salary Distribution
California$55,180 Rank: 23rd
The average salary ranks 23rd among states in the country. There were also job openings from employers like KLNtek, San Mateo County Community College District, Tekoptimize, and Foothill-De Anza Community College District.

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$7.25

$68.75

Salary Distribution
Colorado$59,393 Rank: 12th
The average salary ranks 12th among states in the country. There were also job openings from employers like Spencer Ogden.

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$18,000

$124,000

Salary Distribution
Connecticut$65,813 Rank: 4th
The average salary ranks 4th among states in the country. There were also job openings from employers like IGATE and CorTech, LLC.

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$23,000

$129,000

Salary Distribution
DC$63,750 Rank: 8th
The average salary ranks 8th among states in the country. There were also job openings from employers like AE Strategies, University of the District of Columbia, and TEKsystems.

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$20,000

$131,000

Salary Distribution
Delaware$58,041 Rank: 15th
The average salary ranks 15th among states in the country. There were also job openings from employers like Accountemps.

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$15.20

$45.65

Salary Distribution
Florida$49,747 Rank: 26th
The average salary ranks 26th among states in the country. There were also job openings from employers like Apex Systems, DISYS, Staffing NOW, and Accounting Principals.

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$7.70

$54.70

Salary Distribution
Georgia$55,776 Rank: 21st
The average salary ranks 21st among states in the country. There were also job openings from employers like Principle Solutions Group, Metropolitan Atlanta Rapid Transit Authority (MARTA), and Vankirk Electric.

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$17,000

$117,000

Salary Distribution
Iowa$60,968 Rank: 10th
The average salary ranks 10th among states in the country. There were also job openings from employers like MidAmerican Energy.

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$30,000

$93,000

Salary Distribution
Illinois$62,700 Rank: 9th
The average salary ranks 9th among states in the country. There were also job openings from employers like Capgemini, CorTech, LLC, and Aerotek.

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$20,000

$128,000

Salary Distribution
Indiana$45,691 Rank: 28th
The average salary ranks 28th among states in the country. There were also job openings from employers like City Of Indianapolis and Marion County and Keshav Consulting Solutions.

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$17,000

$87,000

Salary Distribution
Kansas$24,364 Rank: 34th
The average salary ranks 34th among states in the country. There were also job openings from employers like Black & Veatch and WICHITA PUBLIC SCHOOLS.

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$7.25

$27.40

Salary Distribution
Kentucky$43,718 Rank: 30th
The average salary ranks 30th among states in the country. There were also job openings from employers like Humana.

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$20,000

$76,000

Salary Distribution
Louisiana$33,837 Rank: 33rd
The average salary ranks 33rd among states in the country. There were also job openings from employers like State of Louisiana.

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$14,000

$63,000

Salary Distribution
Massachusetts$64,492 Rank: 7th
The average salary ranks 7th among states in the country. There were also job openings from employers like Cor-Tech LLC and Beacon Hill Staffing.

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$20,000

$133,000

Salary Distribution
Maryland$56,563 Rank: 20th
The average salary ranks 20th among states in the country. There were also job openings from employers like Accounting Principals, Robert Half Finance & Accounting, Johns Hopkins Hospital, and M9 Solutions.

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$14,000

$158,000

Salary Distribution
Michigan$72,802 Rank: 1st
The average salary ranks 1st among states in the country. There were also job openings from employers like Robert Half Finance & Accounting.

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$29,000

$136,000

Salary Distribution
Minnesota$56,851 Rank: 19th
The average salary ranks 19th among states in the country. There were also job openings from employers like U.S. Bank.

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$9.40

$60.85

Salary Distribution
Missouri$58,620 Rank: 14th
The average salary ranks 14th among states in the country. There were also job openings from employers like Job Opportunity for a Project Manager/Analyst @ St Louis MO.

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$19,000

$120,000

Salary Distribution
North Carolina$55,545 Rank: 22nd
The average salary ranks 22nd among states in the country. There were also job openings from employers like Aerotek, Veredus, Legacy Flooring, and Ascendo Resources.

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$7.65

$63.75

Salary Distribution
North Dakota$54,651 Rank: 24th
The average salary ranks 24th among states in the country. There were also job openings from employers like Adecco.

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$27,000

$83,000

Salary Distribution
Nebraska$46,502 Rank: 27th
The average salary ranks 27th among states in the country. There were also job openings from employers like Union Pacific and State of Nebraska.

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$12.30

$39.55

Salary Distribution
New Jersey$57,051 Rank: 18th
The average salary ranks 18th among states in the country. There were also job openings from employers like Robert Half and Robert Half Finance & Accounting.

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$19,000

$115,000

Salary Distribution
Nevada$36,710 Rank: 31st
The average salary ranks 31st among states in the country. There were also job openings from employers like Adecco.

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$8.45

$34.00

Salary Distribution
New York$66,026 Rank: 3rd
The average salary ranks 3rd among states in the country. There were also job openings from employers like TEKsystems, Marcum Search LLC, City of New York, and Access Staffing LLC.

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$20,000

$139,000

Salary Distribution
Ohio$58,924 Rank: 13th
The average salary ranks 13th among states in the country. There were also job openings from employers like The Office Professionals, Vaco-Columbus, and Vaco, LLC.

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$10.35

$61.60

Salary Distribution
Oklahoma$57,292 Rank: 17th
The average salary ranks 17th among states in the country. There were also job openings from employers like DirectConnect and Barracuda Staffing.

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$7.45

$67.10

Salary Distribution
Pennsylvania$44,524 Rank: 29th
The average salary ranks 29th among states in the country. There were also job openings from employers like Contemporary Staffing Solutions and Della Infotech Inc.

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$7.25

$54.20

Salary Distribution
South Carolina$35,616 Rank: 32nd
The average salary ranks 32nd among states in the country. There were also job openings from employers like FGP International, Manpower, and CorTech, LLC.

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$7.25

$42.80

Salary Distribution
Texas$60,810 Rank: 11th
The average salary ranks 11th among states in the country. There were also job openings from employers like IGATE, Robert Half Finance & Accounting, NES Global Talent, and The Crossroads Group, Inc..

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$17,000

$129,000

Salary Distribution
Virginia$65,077 Rank: 6th
The average salary ranks 6th among states in the country. There were also job openings from employers like Deloitte, Accounting Principals, Infinite Resources, Inc., and University of Virginia.

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$17,000

$142,000

Salary Distribution
Washington$71,937 Rank: 2nd
The average salary ranks 2nd among states in the country. There were also job openings from employers like Cor-Tech LLC and NextGen Global Resources.

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$26,000

$139,000

Salary Distribution
Wisconsin$65,609 Rank: 5th
The average salary ranks 5th among states in the country. There were also job openings from employers like Pathfinder Search Group, CyberCoders, Pro Staff, and Manpower.

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$26,000

$123,000

Salary Distribution

Top 20 National Employers

According to Indeed.com, the following states had employers looking to hire a Project Analyst. The quoted salary figure represents the average salary from all job postings by this employer.

Employer Name Location Average Salary

Learn More

Related Careers

Career Name Average Salary
Henry R. Steele
Henry R. Steele
Managing Editor
Henry is Managing Editor of BusinessStudent.com. He is a seasoned business professional who regularly consults with local business's throughout Southern California. Henry pursued his undergrad in Business and Economics at the University of San Diego and gained valuable life changing experience through a unique internship upon graduation.Follow on Twitter.com

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