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The differences between budget analysts and finance consultants 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 finance consultant. Additionally, a finance consultant has an average salary of $77,551, 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 finance consultant are customer service, financial services, and financial statements.
| Budget Analyst | Finance Consultant | |
| Yearly salary | $56,598 | $77,551 |
| Hourly rate | $27.21 | $37.28 |
| Growth rate | 3% | 15% |
| Number of jobs | 50,081 | 94,259 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 72% |
| Average age | 47 | 45 |
| 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.
A finance consultant is responsible for providing financial plans and advice for clients, managing their finances and investment decisions, and helping them achieve their long-term financial goals. Finance consultants carefully evaluate clients' financial situations, help them decide on insurance options, and patiently respond to finance-related inquiries and concerns. They should be able to monitor financial market conditions to decide on the right strategies for the clients' best interests. A finance consultant must have excellent analytical skills, as well as broad knowledge of the financial industry and stock market movements.
Budget analysts and finance consultants have different pay scales, as shown below.
| Budget Analyst | Finance Consultant | |
| Average salary | $56,598 | $77,551 |
| Salary range | Between $42,000 And $76,000 | Between $54,000 And $110,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | Virginia | New York |
| Best paying company | Shenzhen Capital Group | Apple |
| Best paying industry | Government | Technology |
There are a few differences between a budget analyst and a finance consultant in terms of educational background:
| Budget Analyst | Finance Consultant | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between budget analysts' and finance consultants' demographics:
| Budget Analyst | Finance Consultant | |
| Average age | 47 | 45 |
| Gender ratio | Male, 45.7% Female, 54.3% | Male, 68.5% Female, 31.5% |
| 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, 5.7% Unknown, 4.4% Hispanic or Latino, 9.6% Asian, 8.5% White, 71.8% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 13% | 5% |