Michigan Business Analytics Salary

The Michigan economy has largely rebounded from the troubles produced by the Great Recession-era crisis in the automotive industry. Since cratering 10 years ago, Michigan’s gross annual economic product has climbed every year and in 2018, the state produced 44% more value than in 2009.

More than 220,000 employers operate across the vast state, employing nearly 4 million people. Michigan’s growing and diverse economy includes major sectors like utilities and transportation (18% of employment), education and health services (15%) and manufacturing (14%).

SEE ALSO: Masters in Business Analytics Salary Outlook

Home to more than a dozen Fortune 500 companies and the site of hundreds of millions in venture capital investment, Michigan’s economy is rooted in the past while looking toward the future. That’s why Michigan students who are interested in helping grow business and organizations would be smart to consider earning a Master of Business Analytics degree, which would enable them to make crucial contributions across a variety of industries and organizational types.

Which programs are offered here in the state of Michigan, what do salaries and job availability look like, and which Michigan companies are seeking to hire professionals skilled and educated in business analytics?

Business Analytics Salaries in Michigan

With literally dozens of possible job titles, the arena of business analytics is a large one. That includes job titles like Business Analyst, of course, but also encompasses higher-level roles like Management Consultant or more hands-on technical jobs like Decision Engineer.

Business analytics job titles you can find in Michigan include:

To understand typical wages in business analytics in Michigan, we’ll take five job titles for which detailed data are available from the U.S. Department of Labor’s Bureau of Labor Statistics. While these are not the only five jobs the bureau studies, they are a good sampling of what types of roles are available here in Michigan and across the country.

Michigan’s wages for select business analytics roles are fairly indicative of the state of these wages in the country as a whole, most annual wage amounts being quite close to the U.S. overall.

Median annual wage, Michigan vs. U.S.

Job TitleMichiganU.S.
Budget Analyst$78,750$76,220
Financial Analyst$78,490$85,660
Management Analyst$79,140$83,610
Market Research Analyst$61,280$63,120
Operations Research Analyst$87,710$83,390

Michigan ranks No. 12 overall among all states when it comes to the typical salary of an Operations Research Analyst. This is Michigan’s highest individual placing among the five jobs we looked at.

Median annual wage, Operations Research Analyst

Highest
District of Columbia$109,910
Hawaii$107,370
Virginia$105,270
New Jersey$101,540
Maryland$96,550
New Hampshire$93,170
Illinois$93,070
New York$92,310
California$92,130
Washington$91,840
Rhode Island$90,350
Michigan$87,710
Lowest
Kentucky$63,890
Oklahoma$63,090
Montana$62,830
Georgia$62,680
Indiana$61,260
North Dakota$57,570
Nebraska$57,430
Arkansas$55,430
Louisiana$52,720
West Virginia$52,230

Long-term growth in business analytics occupations are expected to be quite healthy, both in Michigan and the U.S. as a whole, with most of the jobs projected to grow by double digits through 2026. While short-term gains are projected to be more modest, Michigan is expected to add a similar percentage of these jobs as the U.S. overall, for the most part.

Percentage short- and long-term job opening growth, Michigan vs. U.S.

Job TitleMichigan short-termU.S. short-termMichigan long-termU.S. long-term
Budget Analyst0%1.5%6.5%6.5%
Financial Analyst2.2%2.9%9.3%10.8%
Management Analyst2.9%3.5%14%
Market Research Analyst6.3%5.3%24%23.2%
Operations Research Analyst5.2%5.8%27%27.5%

Note: Short-term 2016-2020; long-term 2016-2026

Salaries for business analyst roles vary quite dramatically across Michigan, with a low of $49,790 for Market Research Analysts in the Lansing-East Lansing area and a high of $89,930 for Operations Research Analysts in the Detroit metro area.

Median annual wage, Michigan vs. select cities

Job TitleMichiganDetroitGrand RapidsLansing-East Lansing
Budget Analyst$78,750$78,970$78,680$78,760
Financial Analyst$78,490$82,480$70,610$66,850
Management Analyst$79,140$85,050$73,190$71,530
Market Research Analyst$61,280$67,850$56,920$49,790
Operations Research Analyst$87,710$89,930$79,210

Michigan Business Analytics Degree Programs

Michigan is home to two of the largest public universities in the United States (Michigan State University and the University of Michigan), in addition to having many other well-regarded and rigorous institutions of higher learning, including ones that offer advanced training in business analytics.

SEE ALSO: Top Online Master’s in Business Data Analytics Degree Rankings

Here’s a look at some of the colleges and universities in Michigan that offer applicable degrees:

Business Analytics Degree Jobs in Michigan

With a growing population and improving economy, the jobs picture today in Michigan is positive indeed. The versatility of a business analytics degree qualifies a person to work across the spectrum of industries and organizations, including for-profit companies, governments, schools, hospitals, nonprofits and more.

SEE ALSO: Michigan Business Data Analytics Degrees

Here is a sampling of the companies, organizations, agencies and other groups that had posted openings for business analytics professionals in Michigan in July 2019:

  • Ford Motor Co.
  • Domino’s
  • Comerica Bank
  • Blue Cross Blue Shield of Michigan
  • S. Navy
  • Whirlpool
  • Detroit Lions
  • Meijer
  • IBM
  • State of Michigan
  • Wayne State University
  • Michigan Professional Insurance Exchange
  • Quicken Loans
  • Michigan State University
  • La-Z-Boy
  • BASF
  • D. Power
  • American Axle & Manufacturing
  • Bose
  • Google

Conclusion

A Master of Business Analytics degree is often a smart next step for people with the desire to use the principles of data and statistical analysis to help solve business problems. One of the most future-proof areas of business, analytics takes very modern tools and applies them to age-old business questions, such as how and where to expand and which methods are best at reaching valuable consumers. Because every organization in the world is now producing huge amounts of data, those with training in harnessing it will always be in high demand.

References

Note: Information on recent job openings was gathered from Indeed.com and Glassdoor.com in late July 2019.

U.S. Bureau of Labor Statistics, Occupational Employment Statistics Query System, Custom Tables. (Undated). Accessed from https://data.bls.gov/oes/#/home

Federal Reserve Bank of St. Louis, Total Gross Domestic Product for Michigan. (2019). Retrieved from https://fred.stlouisfed.org/series/MINGSP

U.S. Census Bureau, Quick Facts, Michigan. (2018). Retrieved from https://www.census.gov/quickfacts/MI

PWC/CB Insights, MoneyTree Report, Q2 2019. (2019). Retrieved from https://www.pwc.com/us/en/moneytree-report/assets/moneytree-report-q2-2019.pdf