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The differences between budget analysts and budget managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a budget analyst, becoming a budget manager takes usually requires 6-8 years. Additionally, a budget manager has an average salary of $76,243, which is higher than the $56,598 average annual salary of a budget analyst.
The top three skills for a budget analyst include financial management, budget analysis and financial reports. The most important skills for a budget manager are financial analysis, budget management, and financial management.
| Budget Analyst | Budget Manager | |
| Yearly salary | $56,598 | $76,243 |
| Hourly rate | $27.21 | $36.66 |
| Growth rate | 3% | 17% |
| Number of jobs | 50,081 | 68,816 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Average age | 47 | 46 |
| Years of experience | 4 | 8 |
A budget analyst supports organizations and businesses by organizing their financial resources to develop and execute budgets for them. A budget analyst is also responsible for evaluating budget proposals, analyzing data, extra funds redistribution, recommending spending cuts, preparing reports annually, and estimating spending requirements in the future. A budget analyst explores alternative funding methods and uses cost-benefit analyses. In addition, budget analysts also look at past budgets and research any financial developments that could affect income and expenditures.
Budget managers are financial professionals who are responsible for evaluating the financial needs of an organization by developing budget strategies to increase profitability. These managers are must observe the financial trends with the organization's expenditure while communicating budget issues with the different departments within the organization. They are required to formulate strategic business plans by analyzing previous budgets and financial developments that may impact their potential income. Budget managers must also produce expenditure reports for the upper management as well as informing department managers about the availability of funds.
Budget analysts and budget managers have different pay scales, as shown below.
| Budget Analyst | Budget Manager | |
| Average salary | $56,598 | $76,243 |
| Salary range | Between $42,000 And $76,000 | Between $52,000 And $110,000 |
| Highest paying City | Washington, DC | Sacramento, CA |
| Highest paying state | Virginia | New York |
| Best paying company | Shenzhen Capital Group | Apple |
| Best paying industry | Government | Manufacturing |
There are a few differences between a budget analyst and a budget manager in terms of educational background:
| Budget Analyst | Budget Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between budget analysts' and budget managers' demographics:
| Budget Analyst | Budget Manager | |
| Average age | 47 | 46 |
| Gender ratio | Male, 45.7% Female, 54.3% | Male, 59.1% Female, 40.9% |
| Race ratio | Black or African American, 12.4% Unknown, 4.7% Hispanic or Latino, 15.3% Asian, 8.9% White, 57.7% American Indian and Alaska Native, 1.0% | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 9.0% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 13% | 11% |