How to Become a Budget Analyst
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.
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.
EducationEmployers 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 RegistrationsGovernment 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.
AdvancementEntry-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 QualitiesAnalytical 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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Budget Analyst Career Paths
As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a Budget Analyst can determine their career goals through the career progression. For example, they could start out with a role such as Finance Analyst, progress to a title such as Senior Accountant and then eventually end up with the title Regional Controller.
Budget Analyst Jobs You Might Like
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Average Salary for a Budget Analyst
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12 Budget Analyst Resume Examples
Build a professional budget analyst resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 12+ resume templates to create your budget analyst resume.
Brandon Williams Budget Analyst |
Nathan Coleman Budget Analyst Experience Budget Analyst2020 - Present USDA•Washington, DC
Budget Technician2017 - 2020 Carpenter•Washington, DC
General Contractor2007 - 2017 Carpenter•Washington, DC
Skills Budgetary TransactionsBudget ProcessInformation TechnologyContract TermsFTEFinance DepartmentResidential HomesFinancial ResourcesSafety ProceduresManagement System Education Bachelor's Degree Business1999 - 2002 Strayer University•Washington, DC |
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 TemplatesAnd if you’re looking for a job, here are the five top employers hiring now:
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 Demographics
Budget Analyst Gender Distribution
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%.
Find the best Budget Analyst job for you
Budget Analyst Jobs You Might Like
- High Paying Budget Analyst Jobs - $76K and Up
- Work From Home Budget Analyst Jobs
- Entry Level Budget Analyst Jobs
- Part Time Budget Analyst Jobs
- Actively Hiring
- No Degree Budget Analyst Jobs
Top Colleges for Budget Analysts
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. SUNY at Binghamton
Vestal, NY • Private
5. Villanova University
Villanova, PA • Private
6. San Diego State University
San Diego, CA • Private
7. Bentley University
Waltham, MA • Private
8. Boston University
Boston, MA • Private
9. SUNY Stony Brook
Stony Brook, NY • Private
10. New York University
New York, NY • Private
Find the best Budget Analyst job for you
Budget Analyst Jobs You Might Like
- High Paying Budget Analyst Jobs - $76K and Up
- Work From Home Budget Analyst Jobs
- Entry Level Budget Analyst Jobs
- Part Time Budget Analyst Jobs
- Actively Hiring
- No Degree Budget Analyst Jobs
Online Courses For Budget Analyst That You May Like
Learn the Fundamentals of Financial Planning and Position Your Career for Success!...
Learn how to create and use budgets effectively in company large or small...
Everything you need to KNOW and everything you need to DO to set and stick to a monthly budget...
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.
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
$87,958
Avg. Salary
2. Virginia
$74,203
Avg. Salary
3. Maryland
$70,039
Avg. Salary
How Do Budget Analyst Rate Their Jobs?
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
