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Budget Analyst

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What is a Budget Analyst?

Job Description & Duties Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.

List of Budget Analyst Job Duties

  • Seek new ways to improve efficiency and increase profits.
  • Compile and analyze accounting records and other data to determine the financial resources required to implement a program.
  • Consult with managers to ensure that budget adjustments are made in accordance with program changes.
  • Summarize budgets and submit recommendations for the approval or disapproval of funds requests.
  • Perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
  • Provide advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.

What Every Budget Analyst Should Know

Below is a list of the skills most Budget Analysts say are important on the job.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Speaking: Talking to others to convey information effectively.

Mathematics: Using mathematics to solve problems.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Other Budget Analyst Job Titles

  • Budget Coordinator
  • Fiscal Agent
  • Budget Examiner
  • Accounting Supervisor
  • Management and Budget Analyst

What Kind of Budget Analyst Job Opportunities Are There?

In the United States, there were 58,400 jobs for Budget Analyst in 2016. New jobs are being produced at a rate of 6.5% which is above the national average. The Bureau of Labor Statistics predicts 3,800 new jobs for Budget Analyst by 2026. There will be an estimated 4,800 positions for Budget Analyst per year.

Forecasted Number of Jobs for Budget Analysts in U.S.

The states with the most job growth for Budget Analyst are Utah, Nevada, and Texas. Watch out if you plan on working in Alaska, Vermont, or New Hampshire. These states have the worst job growth for this type of profession.

How Much Does a Budget Analyst Make?

The salary for Budget Analysts ranges between about $49,860 and $116,300 a year.

Salary Ranges for Budget Analysts

Budget Analysts who work in District of Columbia, Maryland, or Virginia, make the highest salaries.

How much do Budget Analysts make in each U.S. state?

State Annual Mean Salary
Alabama $82,480
Alaska $79,650
Arizona $71,930
Arkansas $51,730
California $90,780
Colorado $83,060
Connecticut $82,880
Delaware $72,490
District of Columbia $100,510
Florida $73,270
Georgia $70,050
Hawaii $82,840
Idaho $66,950
Illinois $75,700
Indiana $69,840
Iowa $75,100
Kansas $68,440
Kentucky $57,310
Louisiana $67,710
Maine $73,100
Maryland $89,940
Massachusetts $85,320
Michigan $76,980
Minnesota $79,710
Mississippi $62,940
Missouri $69,220
Montana $62,740
Nebraska $59,350
Nevada $70,490
New Hampshire $75,710
New Jersey $83,710
New Mexico $76,880
New York $78,540
North Carolina $72,490
North Dakota $70,030
Ohio $74,770
Oklahoma $71,120
Oregon $74,970
Pennsylvania $73,220
Rhode Island $84,720
South Carolina $70,090
South Dakota $63,380
Tennessee $70,710
Texas $77,900
Utah $75,610
Vermont $70,500
Virginia $91,000
Washington $76,210
West Virginia $67,460
Wisconsin $72,380
Wyoming $68,630

What Tools do Budget Analysts Use?

Although they’re not necessarily needed for all jobs, the following technologies are used by many Budget Analysts:

  • Microsoft Excel
  • Microsoft Word
  • Microsoft Office
  • Microsoft PowerPoint
  • Microsoft Access
  • Email software
  • Word processing software
  • Spreadsheet software
  • Microsoft Sharepoint
  • Structured query language SQL
  • Microsoft Visual Basic
  • Enterprise resource planning ERP software
  • Graphics software
  • Oracle E-Business Suite Financials
  • Oracle Hyperion
  • Microsoft Dynamics GP
  • Oracle PeopleSoft Financials
  • Statistical software
  • Fund accounting software
  • Presentation software

Becoming a Budget Analyst

What education is needed to be a Budget Analyst?

Budget Analyst Degree Level

How many years of work experience do I need?

Budget Analyst Work Experience

Where do Budget Analysts Work?

Budget Analyst Sectors

Budget Analysts work in the following industries:

Budget Analyst Industries

Other Jobs You May be Interested In

Those interested in being a Budget Analyst may also be interested in:

Those who work as a Budget Analyst sometimes switch careers to one of these choices:

References:

Image Credit: Pixabay via CC0 License

More about our data sources and methodologies.

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