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Become A Senior Budget Analyst

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Working As A Senior Budget Analyst

  • Interacting With Computers
  • Getting Information
  • Analyzing Data or Information
  • Processing Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Mostly Sitting

  • Repetitive

  • $82,000

    Average Salary

What Does A Senior Budget Analyst Do

Budget analysts help public and private institutions organize their finances. They prepare budget reports and monitor institutional spending.

Duties

Budget analysts typically do the following:

  • Work with program and project managers to develop the organization's budget
  • Review managers' budget proposals for completeness, accuracy, and compliance with laws and other regulations
  • Combine all the program and department budgets together into a consolidated organizational budget and review all funding requests for merit
  • Explain their recommendations for funding requests to others in the organization, legislators, and the public
  • Help the chief operations officer, agency head, or other top managers analyze proposed plans and find alternatives if the projected results are unsatisfactory
  • Monitor organizational spending to ensure that it is within budget
  • Inform program managers of the status and availability of funds
  • Estimate future financial needs

Budget analysts advise various institutions—including governments, universities, and businesses—on how to organize their finances. They prepare annual and special reports and evaluate budget proposals. They analyze data to determine the costs and benefits of various programs and recommend funding levels based on their findings. Although elected officials (in government) or top executives (in a private company) usually make the final decision on an organization's budget, they rely on the work of budget analysts to prepare the information for that decision.

Sometimes, budget analysts use cost-benefit analyses to review financial requests, assess program tradeoffs, and explore alternative funding methods. Budget analysts also may examine past budgets and research economic and financial developments that affect the organization's income and expenditures. Budget analysts may recommend program spending cuts or redistributing extra funds.

Throughout the year, budget analysts oversee spending to ensure compliance with the budget and determine whether changes to funding levels are needed for certain programs. Analysts also evaluate programs to determine whether they are producing the desired results.

In addition to providing technical analysis, budget analysts must effectively communicate their recommendations to officials within the organization. For example, if there is a difference between the approved budget and actual spending, budget analysts may write a report explaining the variations and recommend changes to reconcile the differences.

Budget analysts working in government attend committee hearings to explain their recommendations to legislators. Occasionally, budget analysts may evaluate how well a program is doing, provide policy analysis, and draft budget-related legislation.

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How To Become A Senior Budget Analyst

A bachelor’s degree is typically required to become a budget analyst, although some employers prefer candidates with a master’s degree.

Education

Employers generally require budget analysts to have at least a bachelor's degree. However, some employers may require candidates to have a master’s degree. Because developing a budget requires strong numerical and analytical skills, courses in statistics or accounting are helpful. Federal, state, and local governments have varying requirements, but usually require a bachelor's degree in one of many areas, such as accounting, finance, business, public administration, economics, statistics, political science, or sociology.

Sometimes, budget-related or finance-related work experience can be substituted for formal education.

Licenses, Certifications, and Registrations

Government budget analysts may earn the Certified Government Financial Manager credential from the Association of Government Accountants. To earn this certification, candidates must have a minimum of a bachelor's degree, 24 credit hours of study in financial management, 2 years of professional-level experience in governmental financial management, and they must pass a series of exams. To keep the certification, budget analysts must take 80 hours of continuing education every 2 years.

Advancement

Entry-level budget analysts begin with limited responsibilities, but advancement is common. As analysts gain experience, they have the opportunity to advance to intermediate and senior budget analyst positions.

Important Qualities

Analytical skills. Budget analysts must be able to process a variety of information, evaluate costs and benefits, and solve complex problems.

Communication skills. Budget analysts need strong communication skills because they often have to explain and defend their analyses and recommendations in meetings and legislative committee hearings.

Detail oriented. Creating an efficient budget requires careful analysis of each budget item.

Math skills. Most budget analysts need math skills and should be able to use certain software, including spreadsheets, database functions, and financial analysis programs.

Writing skills. Budget analysts must present technical information in writing that is understandable for the intended audience.

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Senior Budget Analyst Career Paths

Senior Budget Analyst
Senior Finance Analyst Finance Manager Controller
Regional Controller
10 Yearsyrs
Senior Finance Analyst Finance Manager Finance Director
Senior Director Of Finance
14 Yearsyrs
Senior Finance Analyst
Finance Planning Manager
8 Yearsyrs
Finance Manager Controller
Director Of Administration & Finance
11 Yearsyrs
Budget Manager Controller
Director Of Accounting & Finance
11 Yearsyrs
Budget Manager Accounting Manager
Corporate Accounting Manager
8 Yearsyrs
Budget Manager Accounting Manager Assistant Controller
Assistant Director Of Finance
7 Yearsyrs
Budget Manager
6 Yearsyrs
Manager Office Manager Accounting Manager
Assistant Corporate Controller
9 Yearsyrs
Manager Office Manager Business Manager
Business Manager-Finance Manager
8 Yearsyrs
Manager Business Manager Business Operations Manager
Senior Manager Of Business Operations
10 Yearsyrs
Project Manager Senior Account Manager Assistant Controller
Group Controller
11 Yearsyrs
Project Manager Business Manager Manager Finance Planning And Analysis
Regional Finance Manager
9 Yearsyrs
Project Manager Business Owner Business Office Manager
Business Services Director
10 Yearsyrs
Senior Cost Analyst
Cost Accounting Manager
7 Yearsyrs
Senior Cost Analyst Plant Controller Manager Finance Planning And Analysis
Finance Project Manager
8 Yearsyrs
Senior Cost Analyst Cost Accounting Manager Manager Finance Planning And Analysis
Manager-Finance Systems
8 Yearsyrs
Assistant Controller Projects Controller Controls Project Manager
Program Control Manager
9 Yearsyrs
Senior Finance Consultant Senior Finance Planning Analyst
Manager, Finance Analysis
8 Yearsyrs
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Do you work as a Senior Budget Analyst?

Average Yearly Salary
$82,000
Show Salaries
$53,000
Min 10%
$82,000
Median 50%
$82,000
Median 50%
$82,000
Median 50%
$82,000
Median 50%
$82,000
Median 50%
$82,000
Median 50%
$82,000
Median 50%
$126,000
Max 90%
Best Paying Company
PPL
Highest Paying City
Washington, DC
Highest Paying State
District of Columbia
Avg Experience Level
3.8 years
How much does a Senior Budget Analyst make at top companies?
The national average salary for a Senior Budget Analyst in the United States is $82,260 per year or $40 per hour. Those in the bottom 10 percent make under $53,000 a year, and the top 10 percent make over $126,000.

Real Senior Budget Analyst Salaries

Job Title Company Location Start Date Salary
SR. Budget Analyst II (Director of Financial Planning) Montclare Children's School, LLC New York, NY Jan 07, 2016 $112,700
SR. Budget Analyst (Director of Financial Planning Montclare Children's School, LLC New York, NY Jun 04, 2014 $106,000
Senior Budget Analyst Hanwha Q Cells USA Corp Irvine, CA Sep 09, 2015 $97,115
Senior Budget Analyst Open Society Foundations New York, NY Apr 14, 2016 $96,615
Senior Budget Analyst Open Society Foundations New York, NY May 27, 2014 $95,000
Senior Budget Analyst Joins America Inc. Los Angeles, CA Sep 01, 2015 $93,500
Senior Budget Analyst Hwa Seung Networks America Corporation Los Angeles, CA Sep 21, 2015 $93,226
SR. Budget Analyst Fujitsu America, Inc. Sunnyvale, CA Jul 01, 2013 $91,707
Senior Budget Analyst Appnexus, Inc. New York, NY Oct 06, 2014 $90,000
SR. Budget Analyst Asico LLC Westmont, IL Sep 14, 2016 $89,981
SR. Budget Analyst Chicago Food Corporation Chicago, IL Jan 14, 2015 $88,587
Senior Analyst-Budgets and Forecast Hilton Worldwide, Inc. McLean, VA Jul 20, 2016 $86,104
Senior Budget Analyst Gali Service Industries Rockville, MD Oct 31, 2014 $85,800
Senior Analyst, Budget Analysis Lincoln National Corporation Philadelphia, PA May 20, 2015 $85,000 -
$160,000
SR. Analyst, Budget Analysis Lincoln National Corporation Philadelphia, PA Sep 26, 2015 $85,000 -
$160,000
Senior Budget Anaylst Signature Consultants, LLC Charlotte, NC Aug 10, 2009 $83,000
Senior Budget Analyst Paige Academy MA Nov 18, 2010 $82,389
Senior Budget Analyst The New York Public Library New York, NY Aug 02, 2016 $78,582 -
$116,000
Senior Budget Analyst AWI USA LLC Plainview, NY Apr 25, 2016 $75,132
Senior Budget Analyst Cleaners of America Corporation Alexandria, VA Jul 14, 2015 $75,005
Senior Budget Analyst L.L.Bean Inc. Freeport, ME May 07, 2015 $74,160
Senior Budget Analyst/Accountant L.L. Bean Inc. Freeport, ME May 06, 2013 $72,000
SR. Budget Analyst Visual CITI Inc. Lindenhurst, NY Apr 05, 2016 $71,510
Senior Budget Analyst Modern Parking, Inc. Los Angeles, CA Nov 29, 2016 $71,198
Budget Analyst (Senior Treasury Analyst) The Devereux Foundation King of Prussia, PA Jul 12, 2011 $69,555 -
$92,317

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Top Skills for A Senior Budget Analyst

  1. Financial Management
  2. Financial Statements
  3. Financial Resources
You can check out examples of real life uses of top skills on resumes here:
  • Trusted with delegated authority to work autonomously to perform functions IAW fiscal/appropriations law, financial management regulations, and standard policies.
  • Conducted analysis of Financial Statements and associated risks/opportunities to provide understanding of financial performance to internal/external stakeholders.
  • Prepared specialized reports detailing management utilization of financial resources.
  • Implemented new variance analysis process and developed the necessary tools and reporting exhibits to support variance reasons.
  • Ensured accurate accounting for planned capital expenditures.

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Top 10 Best States for Senior Budget Analysts

  1. Virginia
  2. Minnesota
  3. Maryland
  4. Massachusetts
  5. District of Columbia
  6. Colorado
  7. Connecticut
  8. Rhode Island
  9. California
  10. Utah
  • (835 jobs)
  • (289 jobs)
  • (474 jobs)
  • (440 jobs)
  • (356 jobs)
  • (237 jobs)
  • (145 jobs)
  • (30 jobs)
  • (1,663 jobs)
  • (77 jobs)

Senior Budget Analyst Demographics

Gender

Male

47.6%

Female

42.8%

Unknown

9.6%
Ethnicity

White

57.9%

Black or African American

14.8%

Hispanic or Latino

14.3%

Asian

8.7%

Unknown

4.3%
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Foreign Languages Spoken

Spanish

53.8%

French

15.4%

Japanese

7.7%

Portuguese

3.8%

Russian

3.8%

Carrier

3.8%

Hindi

3.8%

Urdu

3.8%

Arabic

3.8%
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Senior Budget Analyst Education

Schools

University of Phoenix

15.2%

Strayer University

13.5%

George Mason University

6.3%

Webster University

5.4%

University of Maryland - College Park

4.9%

New York University

4.5%

University of Maryland - University College

4.5%

Bowie State University

4.5%

American University

4.5%

Johns Hopkins University

4.5%

Michigan State University

4.0%

Villanova University

3.6%

Northeastern University

3.6%

Syracuse University

3.1%

George Washington University

3.1%

Virginia Commonwealth University

3.1%

Carnegie Mellon University

3.1%

University of Illinois at Chicago

3.1%

Suffolk University

2.7%

Hofstra University

2.7%
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Majors

Business

33.1%

Accounting

22.9%

Finance

16.6%

Public Administration

6.0%

Management

3.9%

Economics

3.1%

Political Science

2.4%

Marketing

1.6%

Law

1.1%

Public Policy Analysis

1.0%

Management Science

1.0%

Psychology

1.0%

Human Resources Management

1.0%

International Business

0.9%

Project Management

0.8%

Computer Science

0.7%

Information Technology

0.7%

General Education, Specific Areas

0.7%

Environmental Control Technologies/Technicians

0.6%

Computer Information Systems

0.6%
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Degrees

Masters

48.2%

Bachelors

36.8%

Other

8.0%

Certificate

2.9%

Doctorate

1.9%

Associate

1.6%

Diploma

0.4%

License

0.2%
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