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Job outlook for fiscal analysts in the United States
Are fiscal analyst jobs in demand?
Fiscal analyst job and salary trends over time
Fiscal analyst jobs over time
Fiscal analyst job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 1,770 | 0.00% |
| 2020 | 1,711 | 0.00% |
| 2019 | 1,720 | 0.00% |
| 2018 | 1,692 | 0.00% |
| 2017 | 1,666 | 0.00% |
Average fiscal analyst salary over time
Fiscal analyst salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $51,960 | $24.98 | +2.8% |
| 2024 | $50,540 | $24.30 | +1.5% |
| 2023 | $49,798 | $23.94 | +1.7% |
| 2022 | $48,986 | $23.55 | +1.8% |
| 2021 | $48,138 | $23.14 | +1.4% |
Fiscal analyst jobs by state
Most common states for fiscal analysts
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 205 | 30% |
| 2 | Virginia | 8,470,020 | 661 | 8% |
| 3 | Maryland | 6,052,177 | 333 | 6% |
| 4 | Alaska | 739,795 | 44 | 6% |
| 5 | Colorado | 5,607,154 | 266 | 5% |
| 6 | Massachusetts | 6,859,819 | 308 | 4% |
| 7 | Arizona | 7,016,270 | 295 | 4% |
| 8 | Washington | 7,405,743 | 290 | 4% |
| 9 | Rhode Island | 1,059,639 | 40 | 4% |
| 10 | California | 39,536,653 | 1,247 | 3% |
| 11 | Texas | 28,304,596 | 731 | 3% |
| 12 | New York | 19,849,399 | 534 | 3% |
| 13 | Georgia | 10,429,379 | 313 | 3% |
| 14 | Minnesota | 5,576,606 | 194 | 3% |
| 15 | Oregon | 4,142,776 | 118 | 3% |
| 16 | Connecticut | 3,588,184 | 98 | 3% |
| 17 | Idaho | 1,716,943 | 43 | 3% |
| 18 | New Hampshire | 1,342,795 | 35 | 3% |
| 19 | Delaware | 961,939 | 33 | 3% |
| 20 | Montana | 1,050,493 | 27 | 3% |
Most common cities for fiscal analysts
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Pullman | 3 | 9% | $59,735 |
| 2 | Fairbanks | 1 | 3% | $62,785 |
| 3 | Wenatchee | 1 | 3% | $61,155 |
| 4 | Woodland | 1 | 2% | $72,931 |
| 5 | Columbia | 1 | 1% | $35,841 |
| 6 | Hartford | 1 | 1% | $53,246 |
| 7 | Vista | 1 | 1% | $63,184 |
| 8 | Seattle | 3 | 0% | $61,870 |
| 9 | New York | 2 | 0% | $67,239 |
| 10 | San Francisco | 1 | 0% | $73,530 |
Fiscal Analyst job outlook: Expert opinions
Our panel of fiscal analyst experts
Washington and Lee University
Manhattan College
Fairfield University
Lynn University
University of Oregon
American University
Pacific Lutheran University
Misericordia University
Southern Utah University
University of Maine Orono
Michigan State University
William Paterson University of New Jersey
University of South Alabama
Keith Kerr Prof.
What general advice would you give to a Fiscal Analyst?
Keith Kerr Prof.: There are two approaches to maximizing your salary potential, but only one approach that is completely under our control. While we can learn the best ways to approach employers to advocate for raises and promotions, the outcome of this is dependent on many external factors. What you can control, however, is how you manage the money that you do make. Taking the time to make a detailed budget of your income, expenses and debts allows one to find ways to control their spending, thus generating extra cash for saving and investing each month.
What Fiscal Analyst skills would you recommend for someone trying to advance their career?
Keith Kerr Prof.: There are two basic ways that most people in the US find financial success: Either find a job that pays a high salary, or find a career that you love, regardless of the salary, and make a habit of saving and investing part of your income each month starting with your first paycheck.
If you invest only $90 a month starting at 21 and ending at retirement, you would have a bit over 1 million dollars (assuming a 10% annual gain). Wait just 5 years and start doing this at 26 and your 5 years of time will have cost you $400,000 by retirement. This is the power of compounding. Start early and even with a lower salary, you still can find financial success while pursuing careers that are meaningful to you.
What will help Fiscal Analysts increase their earning potential?
Keith Kerr Prof.: Grant writing is perhaps the most important skill for sociology majors to acquire. Not all sociology programs offer such skills (luckily my department at Quinnipiac does), but all sociology programs offer courses in research methodology. These skills are all skills that are needed to successfully write grants.
More so, with the research skills and practice in grant writing, one is in a position to approach potential employers as a hire that will more than pay for itself in the grant money that the potential employee can bring into the organization.
Colin Reid
Associate Professor of AccountingWashington and Lee University
Accounting And Related Services
What will help Fiscal Analysts increase their earning potential?
Colin Reid: I would encourage graduates to continue to see the early portion of their career as a continued learning experience. Graduates often think that once we have graduated that the learning is over and the work begins. In fields like accounting, you really need to continue to learn and develop expertise over time. This learning should not only include building technical expertise but also include reflection on what part of the work that you enjoy. We can use this to guide our careers moving forward. The other piece of advice I would offer is consistency. Be consistent. A career is much longer than college or any other challenge you have faced. In order to be consistent though, we have to set a pace for ourselves that is reasonable.
What general advice would you give to a Fiscal 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 Fiscal 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 general advice would you give to a Fiscal Analyst?
John McDermott Ph.D.: To maximize your salary potential, keep learning, investing in your human capital, and expanding your capabilities. Learn as much as you can about your new position and industry, work with a variety of people at your firm, and seek opportunities outside your comfort zone. Your salary potential will increase as you are recognized as a capable and hard working colleague.
What will help Fiscal Analysts increase their earning potential?
David Spohn DBA, MBA, MJUR, CWM®: Likes:
- Intellectual Stimulation: Many finance analysts enjoy the challenge of solving complex financial puzzles and deriving insights from data. The role often requires staying updated with the latest economic trends and financial theories, providing continuous learning opportunities.
- Impact on Decision-making: Analysts often take pride in the fact that their work directly influences strategic business decisions. This can be highly rewarding, especially when their recommendations lead to successful outcomes.
- Career Opportunities: The field offers numerous pathways for career advancement. Analysts can ascend to roles in senior management, specialize in particular sectors such as fintech or healthcare, or move into investment roles.
Dislikes:
- High Pressure: The role can be highly stressful, with tight deadlines and significant implications tied to their analyses and recommendations. Financial markets are dynamic, and the pressure to provide accurate, timely insights can be intense.
- Monotony in Initial Stages: New entrants might find the work initially repetitive as they learn the ropes of data collection and basic analysis techniques. The intellectual rewards and more engaging tasks often come with increased responsibility.
- Work-Life Balance: Depending on the employer and the state of the market, long hours can be common, especially during financial reporting periods or significant market changes, which can impact work-life balance.
What will help Fiscal 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.
What Fiscal Analyst skills would you recommend for someone trying to advance their career?
Timothy Egan M.S. Marketing: -Understanding finance and how it impacts the operations of where you work, can help you have great insight into new opportunities or see the writing on the wall in tough times. -Don't be afraid to learn new technologies, especially ones that collect data. Enhance your tech-based skills as that will increase your value to the organization where you work and the business community at large. -Learn Spanish. While globalization may have you think about learning an Asian language, the Spanish speaking market is the faster growing in the US and has been since 2010.
What will help Fiscal Analysts increase their earning potential?
Timothy Egan M.S. Marketing: -Under promise and over deliver. -Know your value, self-assess your skills, your knowledge and your role. Understand when and when not a company can give increases. -Build an internal support system. Make sure you have people who will go to bat for you when you want to move up internally. -After succeeding don't be afraid to ask for an increase. -And remember, stay humble. The minute you think you know everything; you haven't learned anything.
Z. Jay Wang
Department Head, Associate Professor of FinanceUniversity of Oregon
Finance And Financial Management Services
What will help Fiscal 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.
Octavian Ionici PhD
Sr. Lecturer in FinanceAmerican University
Finance And Financial Management Services
What Fiscal 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 Fiscal 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 Fiscal 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.
Charles Makar
Instructor of BusinessMisericordia University
Business Department
What soft skills should all Fiscal Analysts possess?
Charles Makar: Communications skills (oral and written).
Robin Boneck
Department Chair/Professor,Southern Utah University
Accounting Department
What skills stand out on Fiscal Analyst resumes?
Robin Boneck: Skills with ERP software and data analytics software would stand out to me.
Dr. Henri Akono Ph.D.
Associate Professor of AccountingUniversity of Maine Orono
Maine Business School
What skills stand out on Fiscal Analyst resumes?
Dr. Henri Akono Ph.D.: -Both hard and soft skills are important for an accountant's success and should be included in accountants' resumes. To the extent possible, candidates should tailor their skills (on the resume) to the type of job they seek.
-Hard accounting skills encompass:
-Financial Accounting and Reporting
-Understanding of accounting rules and regulations (GAAP)
-Recording of journal entries & compilation of financial reports
-Ratio analysis or Financial statement analysis (for master level candidates)
-Some basic Financial modeling
-Controllership
-Budgeting
-Cost management
-Performance metrics
-Some financial reporting
-Business strategy and processes
-Internal controls
-Cost analytics (regressions, visualizations, etc.)
-Tax
-Tax reporting
-Tax compliance (federal vs. individual or both)
-Audit
-Auditing standards (PCAOB/AICPA)
-Audit risk assessment
-Audit procedures planning and substantive
-Analytical procedures
-Internal controls
-Materiality
-Audit Analytics (Alteryx, Tableau, PowerBi, etc.)
-Analytics for accounting/audit/tax
-Usage of software such as Excel to complete accounting-related tasks
-Use of visualization tools such as Tableau to complete accounting-related tasks
-Certifications
-CPA or intent to complete this
-CMA or intent to complete this
-Excel at least basic
Lynne Zelenski Ph.D.
Director of Academic ServicesMichigan State University
Department of Accounting And Information Systems
What skills stand out on Fiscal Analyst resumes?
Lynne Zelenski Ph.D.: Quantitative, communication, critical thinking, analysis and problem solving, organization, strong work ethic.
How would you rate the starting salaries for Fiscal Analysts, as well as the prospects for salary advancement?
Dr. Francis Cai Ph.D.: The latest data from the website Payscale.com indicates that graduates with finance majors generally have a higher starting salary than the average college graduate salary. There are many career advancement opportunities in finance, either on Wall Street or within finance and treasury departments at corporates.
Are there any particularly good places in the United States for Fiscal Analysts to find work opportunities?
Dr. Reid Cummings: The South and Southwest will continue to attract companies looking to follow workers out of states with high state and local taxes and increasingly restrictive regulatory environments.