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Job outlook for budget analysts in the United States
Budget analyst job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected budget analyst job growth rate is 3% from 2018-2028.
About 1,400 new jobs for budget analysts are projected over the next decade.
Budget analyst salaries have increased 7% for budget analysts in the last 5 years.
There are over 29,908 budget analysts currently employed in the United States.
There are 50,081 active budget analyst job openings in the US.
The average budget analyst salary is $56,598.
Are budget analyst jobs in demand?
Budget analyst job and salary trends over time
Budget analyst jobs over time
Budget analyst job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 29,908 | 0.01% |
| 2020 | 30,901 | 0.01% |
| 2019 | 32,144 | 0.01% |
| 2018 | 32,881 | 0.01% |
| 2017 | 33,850 | 0.01% |
Average budget analyst salary over time
Budget analyst salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $56,598 | $27.21 | +3.2% |
| 2025 | $54,856 | $26.37 | +0.4% |
| 2024 | $54,627 | $26.26 | +1.3% |
| 2023 | $53,925 | $25.93 | +1.9% |
| 2022 | $52,921 | $25.44 | +3.1% |
Budget analyst jobs by state
Most common states for budget analysts
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 368 | 53% |
| 2 | Oklahoma | 3,930,864 | 967 | 25% |
| 3 | Kansas | 2,913,123 | 626 | 21% |
| 4 | Virginia | 8,470,020 | 1,291 | 15% |
| 5 | North Dakota | 755,393 | 113 | 15% |
| 6 | Maryland | 6,052,177 | 793 | 13% |
| 7 | Utah | 3,101,833 | 417 | 13% |
| 8 | Massachusetts | 6,859,819 | 723 | 11% |
| 9 | Wisconsin | 5,795,483 | 618 | 11% |
| 10 | Minnesota | 5,576,606 | 596 | 11% |
| 11 | Arkansas | 3,004,279 | 342 | 11% |
| 12 | Wyoming | 579,315 | 61 | 11% |
| 13 | Colorado | 5,607,154 | 545 | 10% |
| 14 | Delaware | 961,939 | 92 | 10% |
| 15 | Alabama | 4,874,747 | 459 | 9% |
| 16 | Illinois | 12,802,023 | 1,070 | 8% |
| 17 | New Hampshire | 1,342,795 | 105 | 8% |
| 18 | Rhode Island | 1,059,639 | 90 | 8% |
| 19 | Alaska | 739,795 | 60 | 8% |
| 20 | Vermont | 623,657 | 47 | 8% |
Most common cities for budget analysts
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Helena | 4 | 13% | $42,421 |
| 2 | Bethesda | 4 | 7% | $65,033 |
| 3 | Washington | 39 | 6% | $81,182 |
| 4 | Arlington | 6 | 3% | $71,294 |
| 5 | Atlanta | 10 | 2% | $45,583 |
| 6 | Huntsville | 3 | 2% | $55,434 |
| 7 | Tallahassee | 3 | 2% | $50,662 |
| 8 | Baltimore | 8 | 1% | $65,454 |
| 9 | Alexandria | 2 | 1% | $71,242 |
| 10 | San Antonio | 7 | 0% | $52,700 |
| 11 | Los Angeles | 5 | 0% | $62,510 |
| 12 | Houston | 4 | 0% | $52,471 |
| 13 | Detroit | 3 | 0% | $58,584 |
| 14 | New York | 3 | 0% | $58,863 |
| 15 | San Diego | 3 | 0% | $61,946 |
Budget Analyst job outlook: Expert opinions
Our panel of budget analyst experts
Manhattan College
University of Oregon
Stonehill College
American University
Pacific Lutheran University
University of Nevada - Las Vegas
Valdosta State University
Eastern Mennonite University
Southern Utah University
Bay Path University
What will help Budget Analysts increase their earning potential?
Dr. David Powell Ph.D.: MPA (Master's of Public Administration) graduates typically work in local, state, and national government. Some of the positions they typically hold are management analyst, program analyst, policy analyst, budget analyst, finance manager, and human resources manager/specialist among others. We also have graduates who work in local nonprofit organizations in a variety of policy areas such as housing, senior services, etc.
What general advice would you give to a Budget Analyst?
Dr. Natalia Boliari PhD: First, learn everything about the company you just started working for - its historical path, management, the way it's dealt with crises, etc. Second, learn everything about the specific industry the company belongs to and see how the company has developed relative to the development of the industry domestically and internationally. Third, always be extremely alert to notice new opportunities and be prepared to take calculated risks. That is, actively look for opportunities to complete as many and diverse tasks as possible, and volunteer to complete any type of work regardless of whether it seems relevant to your assigned job or not. Opportunities to learn, grow, and improve and thus to maximize your income, will only come up if you are exposed to diverse situations.
What Budget Analyst skills would you recommend for someone trying to advance their career?
Dr. Natalia Boliari PhD: Be open minded. Finance is the broad definition of an industry which provides opportunities for careers in financial consultancy, financial analysis, stock brokerage, foreign investment, modeling, exchange rate forecasts, and many more. While most of those careers are attributed to the banking industry, you can find those and others in other sectors of the economy, such as insurance, technology, health care/medical, government, and so on. So, be open and look beyond the banking sector, examine the current and predicted trends in the economy to hunt for exciting career options.
What will help Budget Analysts increase their earning potential?
Clemens Kownatzki PhD, MBA: As a beginner in any field, it pays to listen more than to talk. Be humble, pay attention, be nice to folks and probably most helpful is having a mentor who can guide you along and show you some best practices for navigating your career. You should take advantage of your education, not just to show a piece of paper that says you graduated but think of every single project, essay or paper that you write as part of a portfolio that demonstrates your skill sets. Especially in finance where we can sometimes be enamored with the beauty of a mathematical model, think about how any model should be applied in the real world. In some cases that might mean that you have to “get your hands on the wheel and learn how to drive.” I am not suggesting that you should put all your savings at risk and buy the next iteration of the latest cryptocurrency, but If you’re interested in a career in investing, put a small amount of money at risk and trade a stock, or if you must trade a few dollars’ worth of Bitcoin or Ether – as much as you would risk for a movie ticket seems reasonable. There are lots of virtual trading apps where you can trade with paper money, but there’s nothing like understanding risk when your own dollars are at stake, even if it’s just a few dollars. You should also absorb all the workshops, seminars and resources available out there. Follow Prof. Aswath Damodaran who has a YouTube Channel and hundreds of spreadsheets with financial models, all for free! Also follow some good content providers on various channels to get additional insights – in the field of finance, you need to be up-to-date on all events because those influence markets and the economy. Be ready to continue learning and update your skills and understanding while you’re working. Education doesn’t end after you finish your degree. All successful people are life-long learners.
Z. Jay Wang
Department Head, Associate Professor of FinanceUniversity of Oregon
Finance And Financial Management Services
What will help Budget Analysts increase their earning potential?
Z. Jay Wang: Students who have a history of doing work in the field outside the classroom either through internships, industry projects, or school-sponsored clubs managing financial decisions are better poised to maximize starting salary potential. Starting early to secure internships with top companies will also position students well for higher earning potential. Most top banks and firms will post internships from April/May to August, and close by the end of September for the following summer. They are also rolling, so may fill the roles by as early as June of the sophomore year for the following summer after junior year. Finally, networking with industry and alumni professionals in the companies, firms, banks prior to applying for an internship or full-time position will have an impact. The candidate will learn more about the opportunity and company culture for their resume and potential interview, and most top companies in finance will have a referral program. If the candidate impresses the internal connection with excellent questions and strategic answers, they may get a referral that moves them up in the stacks of applicants.
What general advice would you give to a Budget Analyst?
Dr. Wayne Durr: Maximizing your salary potential starts with understanding your value. What skills and
capabilities can you articulate to a prospective employer? The ability to articulate these skills
and what you bring to that company can be challenging. Think of your resume like an artist
thinks of their portfolio. What projects or analysis have you worked on? You cannot articulate
the value you will bring to that prospective company without the ability to articulate your skills
and capabilities. Do your research to determine what other employers pay people with the
same abilities. Ask employers what the salary range is and use that as your baseline. As you
get close to graduating, your classmates talk about the job offers they receive and most likely
share the salaries they are being offered. Listen and use this as a baseline. All this gives you
an idea of your value. Your first job isn't always the place where you'll be able to maximize your
earning potential. Think of your first job as where you will get the work experience to maximize
your future earning potential. Look at this as the place where you will sharpen your skills and
develop new ones. This first job will be where you fill out your resume and either have an
opportunity to maximize your earning potential there or elsewhere in the future.
Additionally, think about passive income and the "side gig". If you don't feel like you're
maximizing your earning potential at that first job, think about how you can make money on the
side. I believe we now live in a society where truly maximizing your earning potential comes
from more than your current employer. The ability to earn money from a side gig is more
prevalent than ever before. I think every student should take an entrepreneur class. Think
about your skills, which one could make you some side money. Don't dismiss jobs you did
growing up, like delivery service, landscaping, etc. There are so many apps and websites that
people and companies are looking for anything from an hour to a couple of days worth of work.
Take that first six months on the job to get settled in, and then start thinking about that side gig.
Octavian Ionici PhD
Sr. Lecturer in FinanceAmerican University
Finance And Financial Management Services
What Budget Analyst skills would you recommend for someone trying to advance their career?
Octavian Ionici PhD: The finance profession is lucrative, rewarding and very competitive. Graduates should do their research about the organization they are interviewing with and be able to discuss how their skills can contribute to the business. They should also know if they would rather interact with people and clients or if they are drawn to intellectual pursuits such as analysis. Do they value power, prestige status, risk, or something else? Ultimately our core values, personal goals, interests, aptitudes, and personality will shape our career paths.
Being able to articulate what sparked their interest in the financial field and why they are interested in a chosen role will be an advantage during the hiring process. While still in college, students should join a professional association like the Financial Management Association to give them more access to that broad network, as well as access to career development resources that can set them apart from the crowd.
It's also critical to get an internship (paid or unpaid) in order to show some real-life experience. They can do this while they are still in college, during the summers, or even afterwards, to get a foot in the door.
Reading the WSJ and FT daily, and listening to Bloomberg, or other financial programs as a regular practice will help them to have fluency in the language of our profession. Because the finance sector is heavily regulated and changes occur due to changing economic and political conditions, they will need to stay updated with those changes. Financial media sources will help bring them that context to stay up to date on all of these moving parts.
What will help Budget Analysts increase their earning potential?
Octavian Ionici PhD: Try to understand what your boss or your company needs, then see if you can fill that gap with your skill set and work ethic. Finance constantly evolves. A career with lifelong learning will help keep you employable. Investing in continuous learning and skill development can increase your income potential down the road.
Plus, don't underestimate the power of a positive attitude and strong work ethic. You may not be an expert at the beginning, but you can take on every challenge given to you, work hard and try to turn it into a success for your organization. Each win will build your reputation and your portfolio of skills which you will then bring with you to your next job. As you do this, you will inevitably acquire specialized skills.
What will help Budget Analysts increase their earning potential?
Dr. Kimberly Gaither: Maximize your salary potential by asking questions and learning as quickly as possible. Be a good communicator with those above and below you as well as your peers. Be dependable. Persons who show up early and work hard will be valued and rewarded.
Fang Lin
Assistant Professor of FinancePacific Lutheran University
Finance And Financial Management Services
What Budget Analyst skills would you recommend for someone trying to advance their career?
Fang Lin: Don't be afraid to negotiate your starting salary. Young journalists have a lot to offer newsrooms through social media skills and a willingness to adapt to new technologies such as artificial intelligence. Technology skills have value and should not be undersold. Also, young journalism students should not discount the value of their student media and internship experiences. Young journalists must use everything on their resumes to show how they bring value to their position and ask to be compensated fairly for the work they will contribute to the newsroom's success.
John Clark Ph.D., CFA, CFP
Chair, Dept. of FinanceUniversity of Nevada - Las Vegas
Geological And Earth Sciences/Geosciences
What general advice would you give to a Budget Analyst?
John Clark Ph.D., CFA, CFP: Show you have experience. Doing an internship is a great way to increase your starting salary. I always advocate for doing applied research, this is research that you can show has implications for society - science for the sake of science is not good science! Obtaining an MS degree is also a good way to increase your salary, especially if your MS degree is relevant to your future job.
Shaun Van Ault Ph.D.
Professor and Department HeadValdosta State University
Department of Mathematics
What skills stand out on Budget Analyst resumes?
Shaun Van Ault Ph.D.: Above all, a budget analyst needs to demonstrate attention to detail and the ability to focus for long periods on a large set of data. Experience working with spreadsheets is a must. All of these skills are developed as part of a mathematics degree.
What soft skills should all Budget Analysts possess?
Shaun Van Ault Ph.D.: Strong communication skills, including the ability to translate numerical/budget data into plain English.
What hard/technical skills are most important for Budget Analysts?
Shaun Van Ault Ph.D.: Good number sense, familiarity with computers, spreadsheets, databases, etc.
What skills will help Budget Analysts earn the most?
Shaun Van Ault Ph.D.: A combination of analytical skills and strong leadership qualities.
Stefano Colafranceschi Ph.D.
Assistant ProfessorEastern Mennonite University
Mathematics and Computer Science Department
What skills stand out on Budget Analyst resumes?
Stefano Colafranceschi Ph.D.: In my opinion, logic and organization are the two most essential soft skills. Logic drives the analysis process to make it efficient, complete, and effective. An organized and logical work enables further optimization and tuning to understand the implications of the strategies about to be implemented.
What soft skills should all Budget Analysts possess?
Stefano Colafranceschi Ph.D.: Definitively a team working attitude and communication skills. Nowadays, everything is accomplished within the realm of a team, so functioning well in that dynamic, diverse context is crucial. No matter your role in the team, use your capacity to contribute to the shared goal.
Of course, translating and abstracting your work to a larger audience should also be the focus of your activity.
What hard/technical skills are most important for Budget Analysts?
Stefano Colafranceschi Ph.D.: Quantitative and technical skills like coding, knowledge of complex hardware and/or software systems, and the ability to perform quick and dirty calculations are of utmost importance. Depending on the context, specific skills might be required by the job, however, handling any type of computer language/framework plus a math-oriented mindset often is a winning mix.
What skills will help Budget Analysts earn the most?
Stefano Colafranceschi Ph.D.: Being flexible and adaptive to learn new things is probably the most versatile/good thing to have. Every job has its requirements but being proactive, and with a can-do attitude, ready to attack pending problems is an efficient way that will boost your career.
Robin Boneck
Department Chair/Professor,Southern Utah University
Accounting Department
What soft skills should all Budget Analysts possess?
Robin Boneck: Communication is at the top of the list. You have to be very clear in what information you need and, on the other hand, be able to summarize and share the results of your analysis.
Heather Antanavica
Adjunct InstructorBay Path University
Accounting
Will there be an enduring impact of the coronavirus pandemic on Budget Analysts?
Heather Antanavica: The coronavirus will have a lasting impact on all of humanity, and everyone's jobs will be affected in one way or another. New graduates will have to navigate the working world in a very different way, for example; virtual interviewing, increased competition (many people will be re-entering the workforce after being laid-off during the spring of 2020), and being flexible with businesses that are adapting to a new way of operating. If you are not tech-savvy, work on that now. Companies will be looking for prospects with tech skills in industries where it wasn't much of a factor before the pandemic hit. Most importantly, develop a self-care routine that speaks to you. Meditation, yoga, exercise, grounding practices, and a healthy diet are great options for tending to your well-being so that you can get out there and start your new career with a healthy mind, body, and spirit!