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The differences between contract finance analysts and budget 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 contract finance analyst and a budget analyst. Additionally, a contract finance analyst has an average salary of $64,424, which is higher than the $56,598 average annual salary of a budget analyst.
The top three skills for a contract finance analyst include financial analysis, SQL and cost analysis. The most important skills for a budget analyst are financial management, budget analysis, and financial reports.
| Contract Finance Analyst | Budget Analyst | |
| Yearly salary | $64,424 | $56,598 |
| Hourly rate | $30.97 | $27.21 |
| Growth rate | 9% | 3% |
| Number of jobs | 103,192 | 50,081 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| Average age | 40 | 47 |
| Years of experience | 4 | 4 |
A contract finance analyst specializes in evaluating and managing contracts to help companies avoid financial losses and disputes. It is their duty to understand the needs and goals of a company, review contracts thoroughly, analyze the clauses and liabilities, negotiate contract terms, and recommend amendments on behalf of the clients. There are also instances where they must prepare and process documentation, maintain records, and provide departments with cost-effective methods to comply with the contract's obligations. Above all, a contract finance analyst must monitor every amendment and procedure.
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.
Contract finance analysts and budget analysts have different pay scales, as shown below.
| Contract Finance Analyst | Budget Analyst | |
| Average salary | $64,424 | $56,598 |
| Salary range | Between $44,000 And $93,000 | Between $42,000 And $76,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | Connecticut | Virginia |
| Best paying company | Great American Insurance | Shenzhen Capital Group |
| Best paying industry | Finance | Government |
There are a few differences between a contract finance analyst and a budget analyst in terms of educational background:
| Contract Finance Analyst | Budget Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between contract finance analysts' and budget analysts' demographics:
| Contract Finance Analyst | Budget Analyst | |
| Average age | 40 | 47 |
| Gender ratio | Male, 52.5% Female, 47.5% | Male, 45.7% Female, 54.3% |
| Race ratio | 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% | 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% |
| LGBT Percentage | 7% | 13% |