Related job titles are: Budget Analyst, Budget Officer, Budget and Policy Analyst, Chief Financial Officer (CFO), Cost Accountant, Staff Analyst, Accounting Supervisor, or Budget Coordinator.
How Much Does a Budget Analyst Make? | Budget Analyst Salary
The median yearly salary for budget analysts was $68,200 in May 2010 (the most recent data available). This median salary is simply the salary where half the employees earned more and half earned a lesser amount. Employees in the lower 10 percent had an annual salary less than $44,860, and those employees in the top 10 percent earned greater then $101,660.
What Does a Budget Analyst Do? | Job Description
Budget analysts work with program and project managers to develop the organization's budget. They review managers' budget proposals for completeness, accuracy, and compliance with laws and other regulations. 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.
How to Become a Budget Analyst?
In some organizations, budget analysts learn the job by working through one complete budget cycle. During the cycle, which typically lasts 1 year, analysts become familiar with the steps involved in the budgeting process. Many budget analysts also take professional development classes throughout their careers.
Budget Analyst Classes and Courses | Degree Programs
To earn this certification, candidates must have a minimum of a bachelor's degree, 24 credit hours of study in financial management,
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. For the federal government, a bachelor's degree in any field is enough for an entry-level budget analyst position. 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.
Budget Analyst Jobs | Who is Hiring?
Employment of budget analysts is expected to grow 10 percent from 2010 to 2020, about as fast as the average for all occupations. Budget analysis is getting more complex as more types of data and statistical techniques become available. The greater complexity of the job and its expanding job duties are expected to create a need for more budget analysts.
Efficient use of public funds is increasingly expected. During periods of budget cutbacks, the expertise of budget analysts remains in high demand, meaning employment remains more stable in comparison with other public employees. Therefore, some employment growth from 2010 to 2020 is likely, but it also will likely be tempered by limited government spending.
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