Budget Analysts

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Budget Analysts

Budget Analysts


Education

What’s Needed:

  • Some employers hire budget analysts who hold only a Bachelor in Arts (B.A.) degree in finance economics or business.
  • Many employers prefer to hire individuals who hold a master’s degree and pursue continuing education.

What you study:

You’ll study all of the following while pursuing your finance degree:

  • Business Finance
  • Macroeconomics
  • Economic Analysis for Business
  • Principles of Accounting
  • Professional Ethics
  • Business Law


A Day in the Life

You perform budget analysis tasks on behalf of a company or government agency.

Your day as a budget analyst begins when the company you work for opens its doors. Before you head to your office you check in with the VP of sales to confirm that you’re going over new budgeting strategies this afternoon. You remind the executive that you emailed budget information to him last night and suggest that you he review it before your meeting in case he has any questions.

When you get to your office you check in with the administrative staff in the financial department to collect your phone messages. You quickly review them and see that none are urgent. You check the messages on your direct line and make a note to call one of your satellite location’s managers about a question he has about a labor budgeting plan that was put into place last week.

You’ll prepare cost-benefits analyses and will explain results to executives.

After you’ve caught up with your emails and messages you begin working on a cost-benefit analysis for a new investing program that your company’s CEO is considering pursuing. It’s your job to carefully review how the new program might affect the company’s financial standing. You’ll run projections and will then present them to the CEO and other executives so that they understand the pros and cons of the new project.

It’s your responsibility to help all managers understand new budget procedures.

While you are working on the analysis a marketing department manager comes into your office and asks if he can speak with you about the new technology and training budget. You help him understand how much money his department has been allotted. You schedule an appointment with him tomorrow morning to help him strategize how to make the most of the new budget.

You grab a quick lunch in your office so that you can finalize the report you’ll present to the VP of sales this afternoon. It’s important that you can help him understand the company’s budget options so that he can pick the budget best suited to his department’s growth goals. Once a new budget is implemented you’ll guide key employees through its provisions and will let them know if how they request or report funding has changed.

You ensure your company’s financial wellbeing by making intelligent budgeting decisions.

You head to the VP’s office for your meeting. He has outlined his concerns about the budget plans that you’ve presented so you answer them to the best of your ability. Once you’ve agreed on the two most plausible plans you tell him you’ll do a cost-benefits analysis and schedule to meet with him again in a few days. When you return to your office your administrative assistant gives you your mail and lets you know that he’s just finished compiling a presentation binder for the CEO.

Instead of having your assistant deliver the binder you do so yourself. You take pride in your work and want the CEO to know that you’re available to answer any questions he might have and that you’re looking forward to going over cost-benefits analyses later in the week. After you’ve organized your desk you go home for the night.


Certifications and Licensing

While no formal certification is needed to work as a budget analyst many government employers prefer that employees hold the Certified Government Financial Manager (CGFM) certification awarded by the Association of Government Accountants (AGA).


Job Flexibility

Full-time versus part-time:

Most budget analysts work full time hours. However overtime may be necessary when approaching budget deadlines or final reviews.

Work location:

As a budget analyst you may work for a private corporation government agency or nonprofit organization. The majority of your work will be completed in a traditional office environment.


Recommended Websites

  • American Association for Budget and Program Analysis: The AABPA’s website provides career development information budget-related publications and resources especially for students. Those individuals who are considering graduate-level study in this field will find the student section of the site particularly helpful.
  • Bureau of Labor Statistics Occupational Outlook Handbook for Budget Analysts: This U.S. Department of Labor publication offers general information about careers in this field. Students who want to learn more about career outlooks and salary averages should consult this site.
  • Association of Government Accountants: AGA’s website features a career center that both experienced analysts and newcomers to the field will find valuable. In addition to a variety of professional tools and resources the site also provides information about earning the Certified Government Financial Manager (CGFM) designation.


Salaries by City

See typical salaries and ranges for this career below*. Shift click to sort by more than one column — for example first shift-click on state and then shift-click on salary to find best and worst salaries in each state.

State City / Region Typical Salary Salary Range Job Count % of All Jobs
AK Anchorage $75240 $55K – $115K 140 0.08%
AK Fairbanks $66880 $54K – $79K 40 0.12%
AL Birmingham – Hoover $60630 $40K – $96K 150 0.03%
AL Huntsville $79140 $50K – $108K 630 0.31%
AL Mobile $64750 $49K – $87K 50 0.03%
AL Montgomery $56940 $39K – $90K 140 0.09%
AR Fayetteville – Springdale – Rogers $65970 $38K – $90K 40 0.02%
AR Little Rock – North Little Rock – Conway $41280 $31K – $71K 380 0.11%
AZ Phoenix – Mesa – Glendale $66250 $45K – $92K 660 0.04%
AZ Tucson $58140 $41K – $75K 150 0.04%
CA Bakersfield – Delano $76110 $58K – $104K 160 0.06%
CA Fresno $61540 $35K – $95K 170 0.05%
CA Los Angeles – Long Beach – Glendale (Metro Area) $74680 $49K – $109K 2690 0.07%
CA Modesto $67210 $49K – $89K 40 0.03%
CA Oakland – Fremont – Hayward (Metro Area) $85180 $53K – $121K 950 0.10%
CA Oxnard – Thousand Oaks – Ventura $58270 $36K – $102K 180 0.06%
CA Riverside – San Bernardino – Ontario $62050 $39K – $96K 570 0.05%
CA Sacramento – Arden – Arcade – Roseville $68400 $54K – $99K 720 0.09%
CA Salinas $63600 $44K – $95K 70 0.05%
CA San Diego – Carlsbad – San Marcos $75670 $46K – $106K 720 0.06%
CA San Francisco – San Mateo – Redwood City (Metro Area) $83210 $54K – $130K 1200 0.12%
CA San Jose – Sunnyvale – Santa Clara $87340 $60K – $119K 670 0.08%
CA Santa Ana – Anaheim – Irvine (Metro Area) $83080 $57K – $116K 890 0.06%
CA Santa Barbara – Santa Maria – Goleta $77360 $56K – $108K 130 0.08%
CA Santa Cruz – Watsonville $70450 $48K – $86K 40 0.05%
CA Santa Rosa – Petaluma $82550 $46K – $109K 40 0.03%
CA Stockton $68430 $47K – $100K 60 0.03%
CA Vallejo – Fairfield $83820 $64K – $107K 50 0.04%
CA Visalia – Porterville $50170 $31K – $82K 40 0.03%
CA Yuba City $69320 $57K – $90K 30 0.09%
CO Boulder $74320 $58K – $104K 60 0.04%
CO Colorado Springs $68890 $51K – $99K 190 0.08%
CO Denver – Aurora – Broomfield $76300 $52K – $109K 740 0.06%
CO Fort Collins – Loveland $73940 $54K – $91K 50 0.04%
CT Bridgeport – Stamford – Norwalk $72640 $38K – $94K 150 0.04%
CT Hartford – West Hartford – East Hartford $78470 $59K – $100K 670 0.12%
CT New Haven $85530 $59K – $114K 90 0.03%
CT Norwich – New London $71770 $51K – $97K 30 0.02%
DC Washington – Arlington – Alexandria (Metro Area) $89030 $57K – $116K 4230 0.18%
DE Dover $53830 $41K – $82K 70 0.11%
DE Wilmington (Metro Area) $73500 $48K – $94K 100 0.03%
FL Cape Coral – Fort Myers $58850 $37K – $91K 30 0.02%
FL Crestview – Fort Walton Beach – Destin $64020 $47K – $90K 170 0.24%
FL Deltona – Daytona Beach – Ormond Beach $55680 $40K – $81K 40 0.03%
FL Fort Lauderdale – Pompano Beach – Deerfield Beach (Metro Area) $60230 $39K – $107K 210 0.03%
FL Gainesville $52180 $40K – $72K 150 0.12%
FL Jacksonville $57420 $35K – $86K 190 0.03%
FL Miami – Miami Beach – Kendall (Metro Area) $67550 $44K – $99K 320 0.03%
FL North Port – Bradenton – Sarasota $60240 $44K – $89K 40 0.02%
FL Orlando – Kissimmee – Sanford $59550 $40K – $90K 210 0.02%
FL Palm Bay – Melbourne – Titusville $63150 $41K – $86K 90 0.05%
FL Panama City – Lynn Haven – Panama City Beach $59310 $47K – $87K 30 0.04%
FL Pensacola – Ferry Pass – Brent $61190 $35K – $79K 50 0.03%
FL Tallahassee $47670 $34K – $76K 210 0.13%
FL Tampa – St. Petersburg – Clearwater $69750 $47K – $98K 400 0.04%
FL West Palm Beach – Boca Raton – Boynton Beach (Metro Area) $59770 $42K – $89K 120 0.02%
GA Athens – Clarke County $49040 $41K – $82K 40 0.05%
GA Atlanta – Sandy Springs – Marietta $70380 $41K – $103K 1220 0.05%
GA Augusta – Richmond County $73400 $47K – $107K 100 0.05%
GA Columbus $61230 $45K – $83K 100 0.09%
GA Macon $58880 $41K – $83K 40 0.05%
GA Savannah $59300 $44K – $80K 60 0.04%
GA Warner Robins $77990 $59K – $98K 50 0.09%
HI Honolulu $70320 $50K – $101K 320 0.07%
IA Davenport – Moline – Rock Island $80030 $57K – $104K 70 0.04%
IA Des Moines – West Des Moines $71850 $51K – $93K 140 0.04%
ID Boise City – Nampa $63940 $46K – $92K 80 0.03%
IL Bloomington – Normal $66790 $45K – $102K 40 0.05%
IL Chicago – Joliet – Naperville (Metro Area) $76880 $51K – $109K 1000 0.03%
IL Lake County – Kenosha County (Metro Area) $69020 $45K – $99K 110 0.03%
IL Springfield $52570 $41K – $78K 60 0.05%
IN Indianapolis – Carmel $60790 $43K – $93K 220 0.02%
KS Manhattan $61220 $49K – $83K 40 0.07%
KS Topeka $66070 $52K – $93K 40 0.04%
KS Wichita $75670 $52K – $93K N/A N/A
KY Lexington – Fayette $58100 $42K – $88K N/A N/A
KY Louisville – Jefferson County $55690 $40K – $89K 260 0.04%
LA Baton Rouge $61910 $47K – $100K 190 0.05%
LA New Orleans – Metairie – Kenner $59490 $44K – $92K 110 0.02%
LA Shreveport – Bossier City $63530 $39K – $101K 40 0.03%
MA Boston – Cambridge – Quincy (Metro Area) $74470 $52K – $109K 1290 0.08%
MA Framingham (Metro Area) $75310 $54K – $114K 90 0.06%
MA Lowell – Billerica – Chelmsford (Metro Area) $81690 $50K – $113K 60 0.05%
MA Springfield $65390 $49K – $90K 90 0.03%
MA Worcester $54670 $39K – $86K 250 0.10%
MD Baltimore – Towson $68020 $44K – $110K 1160 0.09%
MD Bethesda – Rockville – Frederick (Metro Area) $90670 $60K – $122K 600 0.11%
ME Portland – South Portland – Biddeford $57880 $42K – $84K 40 0.02%
MI Ann Arbor $64150 $48K – $84K 50 0.03%
MI Detroit – Livonia – Dearborn (Metro Area) N/A N/A – N/A 400 0.06%
MI Flint $66090 $40K – $94K 40 0.03%
MI Grand Rapids – Wyoming $63290 $42K – $102K 50 0.01%
MI Lansing – East Lansing $64160 $52K – $64K 800 0.41%
MI Warren – Troy – Farmington Hills (Metro Area) $74650 $48K – $94K 190 0.02%
MN Minneapolis – St. Paul – Bloomington $73960 $45K – $108K 390 0.02%
MO Jefferson City $49400 $32K – $68K 60 0.08%
MO Kansas City $65140 $45K – $90K 300 0.03%
MO St. Louis $71100 $51K – $98K 980 0.08%
MS Gulfport – Biloxi $61890 $47K – $81K 40 0.03%
MS Jackson $55790 $33K – $85K 120 0.05%
MT Missoula $50470 $35K – $90K 40 0.07%
NC Asheville $50850 $41K – $77K 30 0.02%
NC Charlotte – Gastonia – Rock Hill $63140 $38K – $92K 140 0.02%
NC Durham – Chapel Hill $67890 $49K – $104K $71,540 $48K – $112K 1,540 0.03%
NY Poughkeepsie – Newburgh – Middletown $68,300 $54K – $96K 60 0.02%
NY Rochester $61,210 $48K – $102K 210 0.04%
NY Syracuse $64,810 $49K – $97K 90 0.03%
OH Akron $54,990 $41K – $89K 40 0.01%
OH Cincinnati – Middletown $59,590 $39K – $105K 310 0.03%
OH Cleveland – Elyria – Mentor $60,830 $42K – $93K 280 0.03%
OH Columbus $76,090 $52K – $95K 680 0.07%
OH Dayton $72,400 $52K – $94K 180 0.05%
OH Toledo $56,430 $42K – $76K 60 0.02%
OK Lawton $63,150 $52K – $80K 70 0.16%
OK Oklahoma City $66,810 $40K – $88K 340 0.06%
OK Tulsa $57,410 $40K – $86K 130 0.03%
OR Eugene – Springfield $67,470 $47K – $91K 50 0.04%
OR Portland – Vancouver – Hillsboro $68,590 $52K – $106K 400 0.04%
OR Salem $64,130 $48K – $81K 230 0.16%
PA Allentown – Bethlehem – Easton $66,390 $45K – $92K 60 0.02%
PA Harrisburg – Carlisle $58,250 $45K – $87K 300 0.10%
PA Philadelphia (Metro Area) $72,390 $51K – $106K 890 0.05%
PA Pittsburgh $63,620 $44K – $93K 280 0.03%
PA Scranton – Wilkes – Barre $49,110 $36K – $77K 80 0.03%
PA York – Hanover $55,850 $36K – $109K 40 0.02%
PR San Juan – Caguas – Guaynabo $38,340 $20K – $63K 390 0.05%
RI Providence – Fall River – Warwick $53,540 $34K – $95K 380 0.07%
SC Charleston – North Charleston – Summerville $64,260 $47K – $91K 150 0.05%
SC Columbia $65,690 $51K – $89K 140 0.04%
SC Greenville – Mauldin – Easley $69,660 $52K – $94K 60 0.02%
SD Sioux Falls $61,210 $42K – $86K 30 0.02%
TN Chattanooga $86,800 $42K – $141K 50 0.02%
TN Clarksville $61,220 $45K – $85K 70 0.08%
TN Knoxville $70,970 $46K – $107K 90 0.03%
TN Memphis $58,440 $45K – $91K 90 0.02%
TN Nashville – Davidson – Murfreesboro – Franklin $65,480 $44K – $93K 400 0.05%
TX Austin – Round Rock – San Marcos $57,430 $43K – $87K 520 0.06%
TX Dallas – Plano – Irving (Metro Area) $66,730 $42K – $103K 770 0.04%
TX El Paso $60,620 $40K – $87K 120 0.04%
TX Fort Worth – Arlington (Metro Area) $70,790 $44K – $96K N/A N/A
TX Houston – Sugar Land – Baytown $72,500 $45K – $122K 780 0.03%
TX Killeen – Temple – Fort Hood $63,140 $48K – $83K 100 0.08%
TX San Antonio – New Braunfels $66,970 $49K – $93K 580 0.07%
TX Waco $47,370 $34K – $78K 50 0.05%
UT Ogden – Clearfield $73,400 $53K – $97K 170 0.09%
UT Salt Lake City $67,680 $51K – $89K 150 0.02%
VA Charlottesville $59,750 $44K – $78K 50 0.05%
VA Richmond $66,330 $48K – $91K 350 0.06%
VA Roanoke $62,470 $45K – $89K 50 0.04%
VA Virginia Beach – Norfolk – Newport News $69,140 $49K – $95K 470 0.07%
VT Burlington – South Burlington $53,820 $42K – $78K 60 0.05%
WA Olympia $63,750 $52K – $83K 190 0.21%
WA Spokane $65,650 $52K – $92K 60 0.03%
WA Tacoma (Metro Area) $69,420 $52K – $93K 140 0.05%
WI Madison $63,010 $50K – $85K 210 0.06%
WI Milwaukee – Waukesha – West Allis $68,560 $47K – $95K 180 0.02%
WV Charleston $52,200 $29K – $93K 30 0.02%
WY Cheyenne $59,590 $50K – $77K 40 0.10%

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