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The differences between budget analysts and senior finance 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 senior finance analyst. Additionally, a senior finance analyst has an average salary of $83,222, 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 senior finance analyst are financial analysis, hyperion, and financial models.
| Budget Analyst | Senior Finance Analyst | |
| Yearly salary | $56,598 | $83,222 |
| Hourly rate | $27.21 | $40.01 |
| Growth rate | 3% | 9% |
| Number of jobs | 50,081 | 117,609 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 74% |
| Average age | 47 | 40 |
| 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 Senior Financial Analyst's role is to oversee the financial aspects and manage fellow analysts in a company. Among the tasks of a Senior Financial Analyst include conducting research and analysis, providing forecast in revenue and expenditures, creating financial models that would suit the company and project more sales, and take part in the planning of finances. Moreover, being a Senior Financial Analyst means leading a team of skilled professionals in the same field of expertise.
Budget analysts and senior finance analysts have different pay scales, as shown below.
| Budget Analyst | Senior Finance Analyst | |
| Average salary | $56,598 | $83,222 |
| Salary range | Between $42,000 And $76,000 | Between $62,000 And $110,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | Virginia | California |
| Best paying company | Shenzhen Capital Group | |
| Best paying industry | Government | Technology |
There are a few differences between a budget analyst and a senior finance analyst in terms of educational background:
| Budget Analyst | Senior Finance Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 74% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between budget analysts' and senior finance analysts' demographics:
| Budget Analyst | Senior Finance Analyst | |
| Average age | 47 | 40 |
| Gender ratio | Male, 45.7% Female, 54.3% | Male, 61.7% Female, 38.3% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 13% | 7% |