Become A Budget Analyst

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Working As A Budget Analyst

Interacting With Computers
Getting Information
Analyzing Data or Information
Processing Information
Communicating with Supervisors, Peers, or Subordinates

Mostly Sitting
Repetitive
$62,691
Average Salary

What Does A Budget Analyst Do

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

Duties

Budget analysts typically do the following:

Work with program and project managers to develop the organization's budget
Review managers' budget proposals for completeness, accuracy, and compliance with laws and other regulations
Combine all the program and department budgets together into a consolidated organizational budget and review all funding requests for merit
Explain their recommendations for funding requests to others in the organization, legislators, and the public
Help the chief operations officer, agency head, or other top managers analyze proposed plans and find alternatives if the projected results are unsatisfactory
Monitor organizational spending to ensure that it is within budget
Inform program managers of the status and availability of funds
Estimate future financial needs

Budget analysts advise various institutions—including governments, universities, and businesses—on how to organize their finances. They prepare annual and special reports and evaluate budget proposals. They analyze data to determine the costs and benefits of various programs and recommend funding levels based on their findings. Although elected officials (in government) or top executives (in a private company) usually make the final decision on an organization's budget, they rely on the work of budget analysts to prepare the information for that decision.

Sometimes, budget analysts use cost-benefit analyses to review financial requests, assess program tradeoffs, and explore alternative funding methods. Budget analysts also may examine past budgets and research economic and financial developments that affect the organization's income and expenditures. Budget analysts may recommend program spending cuts or redistributing extra funds.

Throughout the year, budget analysts oversee spending to ensure compliance with the budget and determine whether changes to funding levels are needed for certain programs. Analysts also evaluate programs to determine whether they are producing the desired results.

In addition to providing technical analysis, budget analysts must effectively communicate their recommendations to officials within the organization. For example, if there is a difference between the approved budget and actual spending, budget analysts may write a report explaining the variations and recommend changes to reconcile the differences.

Budget analysts working in government attend committee hearings to explain their recommendations to legislators. Occasionally, budget analysts may evaluate how well a program is doing, provide policy analysis, and draft budget-related legislation.

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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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Budget Analyst jobs

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Budget Analyst Career Paths

Budget Analyst

Project Manager Senior Manager Controller

Accounting Officer

7 Yearsyrs

Senior Accountant Controller Chief Finance Officer

Chief Finance And Operating Officer

14 Yearsyrs

Senior Finance Analyst Finance Manager Controller

Corporate Controller

12 Yearsyrs

Business Analyst Business Manager Controller

Director Of Accounting & Finance

11 Yearsyrs

Accounting Manager Assistant Controller Controller

Director Of Operations And Finance

11 Yearsyrs

Senior Accountant Accounting Manager

Division Controller

9 Yearsyrs

Finance Manager Controller

Finance Controller

9 Yearsyrs

Finance Analyst Senior Finance Analyst

Finance Manager

7 Yearsyrs

Program Analyst Data Analyst Finance Analyst

Finance Planning Manager

8 Yearsyrs

Business Manager Contracts Administrator Senior Finance Analyst

Finance Project Manager

7 Yearsyrs

Accounting Manager Plant Controller Controller

Finance Vice President

9 Yearsyrs

Program Analyst Business Analyst Senior Finance Analyst

Manager Finance Planning And Analysis

8 Yearsyrs

Business Analyst Senior Analyst Senior Finance Analyst

Manager, Finance Analysis

8 Yearsyrs

Business Manager Payroll Administrator Accounting Manager

Manager/Finance Accounting

8 Yearsyrs

Finance Analyst Finance Manager Sales Manager

Operations Manager

7 Yearsyrs

Senior Budget Analyst Senior Finance Analyst Accounting Manager

Plant Controller

10 Yearsyrs

Finance Manager Business Manager Controller

Regional Controller

10 Yearsyrs

Controller Accountant-Contractor Senior Accountant

Reporting Manager

8 Yearsyrs

Controller Finance Director

Senior Director Of Finance

14 Yearsyrs

Senior Finance Analyst Accounting Manager Finance Manager

Senior Finance Manager

11 Yearsyrs

Average Length of Employment

Top Careers Before Budget Analyst

Top Careers After Budget Analyst

Budget Analyst Demographics

Gender

Female
52.8%
Male
44.1%
Unknown
3.1%

Ethnicity

White
76.8%
Hispanic or Latino
10.5%
Asian
9.7%
Unknown
2.1%
Black or African American
1.1%

Languages Spoken

Spanish
39.8%
French
10.8%
Mandarin
7.8%
Chinese
6.1%
German
5.6%
Cantonese
4.3%
Italian
4.3%
Korean
2.6%
Russian
2.6%
Portuguese
2.6%
Japanese
2.6%
Arabic
2.6%
Tagalog
1.7%
Hindi
1.3%
Turkish
1.3%
Vietnamese
0.9%
Czech
0.9%
Urdu
0.9%
Polish
0.9%
Swedish
0.4%

Budget Analyst

Unfortunately we don’t have enough data for this section.

Budget Analyst Education

Schools

University of Phoenix
20.7%
Strayer University
10.4%
Webster University
7.1%
University of Maryland - University College
6.7%
George Mason University
6.1%
Troy University
4.7%
George Washington University
4.5%
Liberty University
3.9%
Southern New Hampshire University
3.7%
American University
3.6%
Old Dominion University
3.4%
New York University
3.3%
Georgia State University
3.1%
Michigan State University
2.8%
Pace University - New York
2.8%
Northeastern University
2.8%
Community College of the Air Force
2.6%
University of Maryland - College Park
2.6%
Boston University
2.6%
Howard University
2.6%

Majors

Degrees

Masters
39.0%
Bachelors
38.4%
Other
12.5%
Associate
4.1%
Certificate
3.6%
Doctorate
2.0%
Diploma
0.3%
License
0.1%

Budget Analyst

Unfortunately we don’t have enough data for this section.

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Real Budget Analyst Salaries

Job Title	Company	Location	Start Date	Salary
Budget Analyst	Park Fragrance LLC	New York, NY	Dec 21, 2016	$147,243
Budget Analyst	Fidai International Inc.	Carrollton, TX	Apr 08, 2016	$114,483
Budget Analyst	Soundview Broadcasting LLC	Islandia, NY	Jan 19, 2016	$112,840
Budget Analyst	Soundview Broadcasting LLC	Islandia, NY	Jul 07, 2015	$112,840
Budget Analyst	Appnexus, Inc.	New York, NY	Dec 30, 2015	$112,500
Budget Analyst, Producing Cost & Inventories	American Glasscrafters, Inc.	Carlstadt, NJ	Apr 11, 2016	$108,118
Budget Analyst II	DOF Subsea USA, Inc.	Houston, TX	Nov 17, 2016	$105,435
Budget Analyst	Cathay Home Inc.	New York, NY	Dec 29, 2016	$94,640
Budget Analyst	Jenifer & Janet Fashion, Inc.	Diamond Bar, CA	Jan 15, 2015	$93,226
Budget Analyst	Mejoong Corporation	Los Angeles, CA	May 19, 2015	$93,226
Budget Analyst	Kilina America, Inc.	Los Angeles, CA	Jul 10, 2015	$93,226
Budget Analyst	Mejoong Corporation	Los Angeles, CA	Nov 12, 2015	$93,226
Budget Analyst	M S International, Inc.	Orange, CA	Sep 18, 2015	$92,000
Budget Analyst	Ms International, Inc.	Orange, CA	Aug 12, 2015	$92,000
Budget Analyst	Taola, Inc.	San Jose, CA	Sep 15, 2016	$61,965
Budget Analyst	Southwest Fence & Deck, Inc.	Carrollton, TX	Jul 27, 2016	$61,797
Budget Analyst	G.B.T. Inc.	Industry, CA	Sep 21, 2016	$61,149
Budget Analyst	CJ Korea Express USA Corporation	East Rancho Dominguez, CA	Sep 21, 2016	$61,066
Budget Analyst	Forest Travel Agency, Inc.	North Miami Beach, FL	Mar 09, 2016	$61,000
Budget Analyst	New Empire Builders Corp.	New York, NY	Jan 09, 2016	$60,523
Budget Analyst	Lori's Diner International, Inc.	San Francisco, CA	Aug 12, 2015	$60,523
Budget Analyst	Petits Pains & Co. LP	Burlingame, CA	Sep 25, 2015	$60,523
Construction Budget Analyst	Onsite Project Consulting LLC	New York, NY	Nov 09, 2016	$54,992
Budget Analyst	Eighth Ave Accounting Consultants Ltd.	New York, NY	Oct 09, 2016	$54,951
Budget Analyst	Imtrex Inc.	Fair Lawn, NJ	Jan 09, 2016	$54,951
Budget Analyst	Functional Life Achievement Inc.	New York, NY	Oct 21, 2015	$54,951
Budget Analyst	Functional Life Achievement, Inc.	New York, NY	Dec 16, 2015	$54,951
Budget Analyst	Cg & J Realty, LLC	NY	Sep 28, 2016	$54,951
Budget Analyst	The Nosh'Em Group LLC	New York, NY	Feb 16, 2016	$54,951

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Top Skills for A Budget Analyst

Top Budget Analyst Skills

Financial Management
Financial Status
Personnel

You can check out examples of real life uses of top skills on resumes here:

Provide financial management to Technology group tracking computer expenses through project codes.
Prepared and presented reports to management regarding budget financial status in connection with monitoring the general ledger.
Prepared budget variances, projections and made recommendations to resolve budgetary obstacles regarding other than personnel services.
Manage over 40 Government Purchase Card accounts in a timely manner.
Compiled / analyzed accounting spreadsheets and reports; determined financial resources required for funds implementation.