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What is a Budget Analyst

Budget analysts work for the finance departments of companies and are responsible for evaluating budget proposals. Their job is to make sure funds are optimally allocated, expenses are worth the investment, and money is spent where it is needed.

If you are considering taking on the role of a budget analyst, you must be someone who loves mathematics, obviously. But, surprising as this might seem, you also need to be good with words, as your job will entail communicating with stakeholders regarding their petitions and persuading management to approve your requests.

You need a degree in a finance-related field and experience in handling budgets to be considered for this position. To be successful at it, you need to get a kick out of resolving problems, have keen attention to detail, and be passionate about dissecting the world in your mind with analytical thinking.

What Does a Budget Analyst Do

Budget analysts help public and private institutions organize their finances. They prepare budget reports and monitor institutional spending.

Learn more about what a Budget Analyst does

How To Become a Budget Analyst

A bachelor’s degree is typically required to become a budget analyst, although some employers prefer candidates with a master’s degree.

Education

Employers generally require budget analysts to have at least a bachelor's degree. However, some employers may require candidates to have a master’s degree. Because developing a budget requires strong numerical and analytical skills, courses in statistics or accounting are helpful. Federal, state, and local governments have varying requirements, but usually require a bachelor's degree in one of many areas, such as accounting, finance, business, public administration, economics, statistics, political science, or sociology.

Sometimes, budget-related or finance-related work experience can be substituted for formal education.

Licenses, Certifications, and Registrations

Government budget analysts may earn the Certified Government Financial Manager credential from the Association of Government Accountants. To earn this certification, candidates must have a minimum of a bachelor's degree, 24 credit hours of study in financial management, 2 years of professional-level experience in governmental financial management, and they must pass a series of exams. To keep the certification, budget analysts must take 80 hours of continuing education every 2 years.

Advancement

Entry-level budget analysts begin with limited responsibilities, but advancement is common. As analysts gain experience, they have the opportunity to advance to intermediate and senior budget analyst positions.

Important Qualities

Analytical skills. Budget analysts must be able to process a variety of information, evaluate costs and benefits, and solve complex problems.

Communication skills. Budget analysts need strong communication skills because they often have to explain and defend their analyses and recommendations in meetings and legislative committee hearings.

Detail oriented. Creating an efficient budget requires careful analysis of each budget item.

Math skills. Most budget analysts need math skills and should be able to use certain software, including spreadsheets, database functions, and financial analysis programs.

Writing skills. Budget analysts must present technical information in writing that is understandable for the intended audience.

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And if you’re looking for a job, here are the five top employers hiring now:

  1. AT&T Jobs (24)
  2. Science Applications International Jobs (29)
  3. The Coca-Cola Company Jobs (21)
  4. Washington State University Jobs (20)
  5. Northrop Grumman Jobs (50)
Average Salary
$58,013
Average Salary
Job Growth Rate
4%
Job Growth Rate
Job Openings
44,637
Job Openings
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Budget Analyst Career Paths

Top Careers Before Budget Analyst

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Average Salary for a Budget Analyst

Budget Analysts in America make an average salary of $58,013 per year or $28 per hour. The top 10 percent makes over $76,000 per year, while the bottom 10 percent under $44,000 per year.
Average Salary
$58,013
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12 Budget Analyst Resume Examples

Learn How To Write a Budget Analyst Resume

At Zippia, we went through countless Budget Analyst resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Budget Analyst Resume Examples And Templates

And if you’re looking for a job, here are the five top employers hiring now:

  1. AT&T Jobs (24)
  2. Science Applications International Jobs (29)
  3. The Coca-Cola Company Jobs (21)
  4. Washington State University Jobs (20)
  5. Northrop Grumman Jobs (50)

Choose From 10+ Customizable Budget Analyst Resume templates

Zippia allows you to choose from different easy-to-use Budget Analyst templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Budget Analyst resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume
Budget Analyst Resume

Budget Analyst Demographics

Budget Analyst Gender Distribution

Male
Male
46%
Female
Female
54%

After extensive research and analysis, Zippia's data science team found that:

  • Among Budget Analysts, 54.3% of them are women, while 45.7% are men.

  • The most common race/ethnicity among Budget Analysts is White, which makes up 63.1% of all Budget Analysts.

  • The most common foreign language among Budget Analysts is Spanish at 42.6%.

Job Openings

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Budget Analyst Education

Budget Analyst Majors

34.6 %
14.0 %

Budget Analyst Degrees

Bachelors

70.1 %

Masters

17.0 %

Associate

9.4 %

Top Colleges for Budget Analysts

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
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Online Courses For Budget Analyst That You May Like

Financial Planning & Analysis: Building a Company's Budget
udemy
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Learn the Fundamentals of Financial Planning and Position Your Career for Success!...

Budgeting for Business
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Learn how to create and use budgets effectively in company large or small...

Learn How To Budget - Personal budgeting made easy
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Everything you need to KNOW and everything you need to DO to set and stick to a monthly budget...

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Top Skills For a Budget Analyst

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 14.6% of Budget Analysts listed Financial Statements on their resume, but soft skills such as Writing skills and Analytical skills are important as well.

  • Financial Statements, 14.6%
  • Financial Management, 7.6%
  • Budget Analysis, 5.8%
  • Powerpoint, 3.5%
  • Budget Estimates, 3.1%
  • Other Skills, 65.4%

Best States For a Budget Analyst

Some places are better than others when it comes to starting a career as a Budget Analyst. The best states for people in this position are Virginia, Maryland, West Virginia, and Maine. Budget Analysts make the most in Virginia with an average salary of $74,203. Whereas in Maryland and West Virginia, they would average $70,039 and $69,670, respectively. While Budget Analysts would only make an average of $68,607 in Maine, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. District of Columbia

Total Budget Analyst Jobs:
368
Highest 10% Earn:
$118,000
Location Quotient:
2.49
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Virginia

Total Budget Analyst Jobs:
1,291
Highest 10% Earn:
$100,000
Location Quotient:
1.56
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Maryland

Total Budget Analyst Jobs:
793
Highest 10% Earn:
$94,000
Location Quotient:
1.42
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Budget Analysts

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Top Budget Analyst Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ Budget Analysts and discovered their number of Budget Analyst opportunities and average salary. Through our research, we concluded that Robert Half International was the best, especially with an average salary of $61,696. Johns Hopkins University follows up with an average salary of $48,391, and then comes Northrop Grumman with an average of $62,429. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a Budget Analyst. The employers include Raytheon, CACI International, and Providence Health System-Southern California

Budget Analyst Videos