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The differences between budget analysts and business analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a budget analyst and a business analyst. Additionally, a business analyst has an average salary of $74,431, 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 business analyst are project management, data analysis, and business analysis.
| Budget Analyst | Business Analyst | |
| Yearly salary | $56,598 | $74,431 |
| Hourly rate | $27.21 | $35.78 |
| Growth rate | 3% | 9% |
| Number of jobs | 50,081 | 170,514 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Average age | 47 | 44 |
| Years of experience | 4 | 4 |
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.
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
Budget analysts and business analysts have different pay scales, as shown below.
| Budget Analyst | Business Analyst | |
| Average salary | $56,598 | $74,431 |
| Salary range | Between $42,000 And $76,000 | Between $53,000 And $103,000 |
| Highest paying City | Washington, DC | Mountain View, CA |
| Highest paying state | Virginia | Washington |
| Best paying company | Shenzhen Capital Group | The Citadel |
| Best paying industry | Government | Finance |
There are a few differences between a budget analyst and a business analyst in terms of educational background:
| Budget Analyst | Business Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between budget analysts' and business analysts' demographics:
| Budget Analyst | Business Analyst | |
| Average age | 47 | 44 |
| Gender ratio | Male, 45.7% Female, 54.3% | Male, 53.9% Female, 46.1% |
| 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, 6.2% Unknown, 4.7% Hispanic or Latino, 8.8% Asian, 12.0% White, 67.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 13% | 11% |