What Does it Take to Be a Budget Analyst?
Career Description Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.
Budget Analyst Responsibilities
- Compile and analyze accounting records and other data to determine the financial resources required to implement a program.
- Interpret budget directives and establish policies for carrying out directives.
- Direct the preparation of regular and special budget reports.
- Summarize budgets and submit recommendations for the approval or disapproval of funds requests.
- Match appropriations for specific programs with appropriations for broader programs, including items for emergency funds.
- Seek new ways to improve efficiency and increase profits.
Budget Analyst Needed Skills
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.
Types of Budget Analyst Jobs
- Accounting Supervisor
- Budget Engineer
- Staff Analyst
- Cost Accountant
- Financial Services Officer
Is There Going to be Demand for Budget Analysts?
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.
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.
Do Budget Analysts Make A Lot Of Money?
Budget Analysts make between $49,860 and $116,300 a year.
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 |
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:
- 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
- Fund accounting software
- Statistical software
- Presentation software
How do I Become a Budget Analyst?
What education is needed to be a Budget Analyst?
How many years of work experience do I need?
Who Employs Budget Analysts?
The table below shows some of the most common industries where those employed in this career field work.
Other Jobs You May be Interested In
Those interested in being a Budget Analyst may also be interested in:
- Regulatory Affairs Managers
- Logistics Analysts
- Credit Analysts
- Tax Examiners and Collectors, and Revenue Agents
Career changers with experience as a Budget Analyst sometimes find work in one of the following fields:
References:
Image Credit: Pixabay via CC0 License
More about our data sources and methodologies.
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