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Budget Analysts

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What You Need to Know About Budget Analysts

Budget Analyst Definition Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.

A Day in the Life of a Budget Analyst

  • Provide advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.
  • Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
  • Direct the preparation of regular and special budget reports.
  • Analyze monthly department budgeting and accounting reports to maintain expenditure controls.
  • Compile and analyze accounting records and other data to determine the financial resources required to implement a program.
  • Summarize budgets and submit recommendations for the approval or disapproval of funds requests.

Qualities of a Budget Analyst

Budget Analysts state the following job skills are important in their day-to-day work.

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.

  • Budget Officer
  • Financial Services Officer
  • Staff Analyst
  • Budget Examiner
  • Budget Analyst

Is There Going to be Demand for Budget Analysts?

In the United States, there were 58,400 jobs for Budget Analysts in 2016.

New jobs are being produced at a rate of 6.5% which is lower than average. The Bureau of Labor Statistics predicts 3,800 new jobs for Budget Analysts by 2026. Due to new job openings and attrition, there will be an average of 4,800 job openings in this field each year.

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

The states with the most job growth for Budget Analysts are Texas, California, and New York.

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.

Budget Analyst Salary

The salary for Budget Analysts ranges between about $49,860 and $116,300 a year. A Budget Analyst median salary is $76,220.

Salary Ranges for Budget Analysts

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

Annual Mean Salary by State
State Annual Mean Salary

District of Columbia

$100,510

Virginia

$91,000

California

$90,780

Maryland

$89,940

Massachusetts

$85,320

Rhode Island

$84,720

New Jersey

$83,710

Colorado

$83,060

Connecticut

$82,880

Hawaii

$82,840

Alabama

$82,480

Minnesota

$79,710

Alaska

$79,650

New York

$78,540

Texas

$77,900

Michigan

$76,980

New Mexico

$76,880

Washington

$76,210

New Hampshire

$75,710

Illinois

$75,700

Utah

$75,610

Iowa

$75,100

Oregon

$74,970

Ohio

$74,770

Florida

$73,270

Pennsylvania

$73,220

Maine

$73,100

Delaware

$72,490

North Carolina

$72,490

Wisconsin

$72,380

Arizona

$71,930

Oklahoma

$71,120

Tennessee

$70,710

Vermont

$70,500

Nevada

$70,490

South Carolina

$70,090

Georgia

$70,050

North Dakota

$70,030

Indiana

$69,840

Missouri

$69,220

Wyoming

$68,630

Kansas

$68,440

Louisiana

$67,710

West Virginia

$67,460

Idaho

$66,950

South Dakota

$63,380

Mississippi

$62,940

Montana

$62,740

Nebraska

$59,350

Kentucky

$57,310

Arkansas

$51,730

Tools & Technologies Used by Budget Analysts

Below is a list of the types of tools and technologies that Budget Analysts may use on a daily basis:

  • Structured query language SQL
  • Oracle PeopleSoft Financials
  • Microsoft Sharepoint
  • IBM Cognos Planning
  • Budgeting, forecasting, and planning software
  • Revelwood
  • Sage ERP Accpac
  • Sage Active Planner
  • Sage MAS 90 ERP
  • SAP Business One

How do I Become a Budget Analyst?

Are there Budget Analyst education requirements?

Budget Analyst Degree Level

How many years of work experience do I need?

Budget Analyst Work Experience

Who Employs Budget Analysts?

Budget Analyst Sectors

Other Jobs You May be Interested In

Those thinking about becoming Budget Analysts might also be interested in the following careers:

  • Credit Analysts
  • Logistics Analysts
  • Tax Examiners and Collectors, and Revenue Agents

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

  • Financial Examiners

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons

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