All About Budget Analysts
Job Description: Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.
What Do Budget Analysts Do On a Daily Basis?
- 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.
- Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
- Testify before examining and fund-granting authorities, clarifying and promoting the proposed budgets.
- Perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
- Consult with managers to ensure that budget adjustments are made in accordance with program changes.
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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.
Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Types of Budget Analyst
- Staff Analyst
- Analyst
- Budget Coordinator
- Budget Engineer
- Budget Specialist
Is There Job Demand for Budget Analysts?
In 2016, there was an estimated number of 58,400 jobs in the United States for Budget Analyst. 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. The BLS estimates 4,800 yearly job openings in this field.
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?
The typical yearly salary for Budget Analysts is somewhere between $49,860 and $116,300.
Budget Analysts who work in District of Columbia, Maryland, or Virginia, make the highest salaries.
How much do Budget Analysts make in different U.S. states?
| 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 & Technology 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
Are there Budget Analysts education requirements?
How Long Does it Take to Become a Budget Analyst?
Where do Budget Analysts Work?
The table below shows some of the most common industries where those employed in this career field work.
You May Also 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:
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