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Budget Analyst

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What Do Budget Analyst Do?

Occupation Description Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.

Life As a Budget Analyst: What Do They Do?

  • Review operating budgets to analyze trends affecting budget needs.
  • Summarize budgets and submit recommendations for the approval or disapproval of funds requests.
  • Interpret budget directives and establish policies for carrying out directives.
  • Consult with managers to ensure that budget adjustments are made in accordance with program changes.
  • Perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
  • Match appropriations for specific programs with appropriations for broader programs, including items for emergency funds.

What Every Budget Analyst Should Know

These are the skills Budget Analysts say are the most useful in their careers:

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Speaking: Talking to others to convey information effectively.

Mathematics: Using mathematics to solve problems.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Other Budget Analyst Job Titles

  • Management and Budget Analyst
  • Cost Accountant
  • Budget Officer
  • Policy Analyst
  • Cost Analyst

Are There Job Opportunities for Budget Analysts?

In 2016, there was an estimated number of 58,400 jobs in the United States for Budget Analyst. New jobs are being produced at a rate of 6.5% which is above the national average. The Bureau of Labor Statistics predicts 3,800 new jobs for Budget Analyst by 2026. Due to new job openings and attrition, there will be an average of 4,800 job openings in this field each year.

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The states with the most job growth for Budget Analyst are Utah, Nevada, and Texas. Watch out if you plan on working in Alaska, Vermont, or New Hampshire. These states have the worst job growth for this type of profession.

Do Budget Analysts Make A Lot Of Money?

The salary for Budget Analysts ranges between about $49,860 and $116,300 a year.

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Budget Analysts who work in District of Columbia, Maryland, or Virginia, make the highest salaries.

Below is a list of the median annual salaries for Budget Analysts in different U.S. states.

State Annual Mean Salary
Alabama $82,480
Alaska $79,650
Arizona $71,930
Arkansas $51,730
California $90,780
Colorado $83,060
Connecticut $82,880
Delaware $72,490
District of Columbia $100,510
Florida $73,270
Georgia $70,050
Hawaii $82,840
Idaho $66,950
Illinois $75,700
Indiana $69,840
Iowa $75,100
Kansas $68,440
Kentucky $57,310
Louisiana $67,710
Maine $73,100
Maryland $89,940
Massachusetts $85,320
Michigan $76,980
Minnesota $79,710
Mississippi $62,940
Missouri $69,220
Montana $62,740
Nebraska $59,350
Nevada $70,490
New Hampshire $75,710
New Jersey $83,710
New Mexico $76,880
New York $78,540
North Carolina $72,490
North Dakota $70,030
Ohio $74,770
Oklahoma $71,120
Oregon $74,970
Pennsylvania $73,220
Rhode Island $84,720
South Carolina $70,090
South Dakota $63,380
Tennessee $70,710
Texas $77,900
Utah $75,610
Vermont $70,500
Virginia $91,000
Washington $76,210
West Virginia $67,460
Wisconsin $72,380
Wyoming $68,630

Tools & Technologies Used by Budget Analysts

Although they’re not necessarily needed for all jobs, the following technologies are used by many Budget Analysts:

  • Microsoft Excel
  • Microsoft Word
  • Microsoft Office
  • Microsoft PowerPoint
  • Microsoft Access
  • Email software
  • Word processing software
  • Spreadsheet software
  • Microsoft Sharepoint
  • Structured query language SQL
  • Microsoft Visual Basic
  • Enterprise resource planning ERP software
  • Graphics software
  • Oracle E-Business Suite Financials
  • Oracle Hyperion
  • Microsoft Dynamics GP
  • Oracle PeopleSoft Financials
  • Statistical software
  • Fund accounting software
  • Presentation software

Becoming a Budget Analyst

Learn what Budget Analyst education requirements there are.

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What work experience do I need to become a Budget Analyst?

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Where Budget Analysts Work

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The table below shows the approximate number of Budget Analysts employed by various industries.

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Similar Careers

Those thinking about becoming a Budget Analyst might also be interested in the following careers:

Career changers with experience as a Budget Analyst sometimes find work in one of the following fields:

References:

Image Credit: Pixabay via CC0 License

More about our data sources and methodologies.

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