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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

  • $92,890

    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 jobs

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Senior Budget Analyst Career Paths

Senior Budget Analyst
Finance Manager Sales Manager Office Manager
Accounting Manager
7 Yearsyrs
Budget Manager Controller Chief Finance Officer
Chief Finance And Operating Officer
14 Yearsyrs
Senior Finance Analyst Finance Manager Controller
Corporate Controller
12 Yearsyrs
Project Manager Senior Manager Controller
Director Of Accounting & Finance
11 Yearsyrs
Senior Consultant Information Technology Director Controller
Director Of Operations And Finance
11 Yearsyrs
Deputy Director Program Analyst Senior Finance Analyst
Division Controller
9 Yearsyrs
Finance Manager Controller
Finance Controller
9 Yearsyrs
Senior Finance Analyst Accounting Manager
Finance Manager
7 Yearsyrs
Senior Consultant Senior Specialist Senior Finance Analyst
Finance Planning Manager
8 Yearsyrs
Finance Consultant Business Analyst Senior Finance Analyst
Finance Project Manager
7 Yearsyrs
Project Manager General Manager Finance Advisor
Finance Vice President
9 Yearsyrs
Controller Finance Consultant Senior Finance Analyst
Manager Finance Planning And Analysis
8 Yearsyrs
Deputy Director Senior Analyst Senior Finance Analyst
Manager, Finance Analysis
8 Yearsyrs
Finance Administrator Bookkeeper Accounting Manager
Manager/Finance Accounting
8 Yearsyrs
Business Manager Property Manager Accountant
Plant Controller
10 Yearsyrs
Business Manager Senior Manager Controller
Regional Controller
10 Yearsyrs
Finance Consultant Senior Finance Analyst Accounting Manager
Reporting Manager
8 Yearsyrs
Controller Finance Director
Senior Director Of Finance
14 Yearsyrs
Budget Manager Finance Manager
Senior Finance Manager
11 Yearsyrs
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Senior Budget Analyst Demographics

Gender

  • Male

    52.6%
  • Female

    45.2%
  • Unknown

    2.2%

Ethnicity

  • White

    77.9%
  • Hispanic or Latino

    10.2%
  • Asian

    7.7%
  • Unknown

    2.9%
  • Black or African American

    1.3%
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Languages Spoken

  • Spanish

    50.0%
  • French

    11.5%
  • Japanese

    7.7%
  • Russian

    7.7%
  • Portuguese

    3.8%
  • Mandarin

    3.8%
  • Carrier

    3.8%
  • Hindi

    3.8%
  • Urdu

    3.8%
  • Arabic

    3.8%
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Senior Budget Analyst

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Senior Budget Analyst Education

Senior Budget Analyst

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Real Senior Budget Analyst Salaries

Job Title Company Location Start Date Salary
Senior Financial & Budget Analyst 2 Us, LLC. Gainesville, FL Mar 30, 2016 $146,182
SR. Budget Analyst II (Director of Financial Planning) Montclare Children's School, LLC New York, NY Jan 07, 2016 $112,700
Senior Financial & Budget Analyst SMF Corporation LLC Davie, FL Feb 18, 2016 $109,762
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 Budget Analyst Gali Service Industries Rockville, MD Oct 31, 2014 $85,800
Senior Budget Anaylst Signature Consultants, LLC Charlotte, NC Aug 10, 2009 $83,000
Senior Project Budget Analyst Pharmanet, LLC Princeton, NJ Jul 01, 2011 $83,000 -
$93,000
Senior Budget Analyst Paige Academy MA Nov 18, 2010 $82,389
Senior Clinical Research Budget Analyst Memorial Sloan-Kettering Cancer Center New York, NY Feb 15, 2016 $78,935
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
SR. Project Budget Analyst Sea Louisiana Construction, LLC Westlake, LA Sep 19, 2016 $72,342
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

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Top Skills for A Senior Budget Analyst

FinancialManagementFinancialAnalysisFinancialResourcesVarianceAnalysisTechnicalAssistanceCapitalBudgetAuditFinancialDataGeneralLedgerBudgetExecutionAnnualBudgetProcessBudgetFormulationFinancialStatementsSpecialProjectsBudgetDevelopmentProgramObjectiveMemorandumBudgetAnalystsOMBDirectorateJournalEntries

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Top Senior Budget Analyst Skills

  1. Financial Management
  2. Financial Analysis
  3. Financial Resources
You can check out examples of real life uses of top skills on resumes here:
  • Administered general accounting and financial management functions, to include AR/AP, account reconciliation, contract management, and cash management.
  • Conduct diverse and highly complex financial analysis of the University's operations and annual operating budget.
  • Prepared specialized reports detailing management utilization of financial resources.
  • Conducted variance analysis and analyzed budgetary impact of federal and state laws.
  • Provided technical assistance to Department Heads on preparing budgets.

Top Senior Budget Analyst Employers