Career path for a Business Analyst

Am in the midst of a discussion where we are deciding on what a career map for a Business Analyst should or could be, what level of technical competency(ies) he/she should be fluent in and acquire and in a span of 5 years where they could rise or grow.

In addition, would like to know, whether a Business Analyst could apply their skill and competencies across an industry group. For example, could they apply their learnings in Insurance industry to Banking Group. I feel it can be done. However, would like have opinions.

Any ideas and personal experiences are welcome.