Budget Analyst Careers
Budget analysts assist both public and private organizations and institutions in keeping their finances on the most profitable and practical economic course by monitoring past economic trends and future projections.
By creating budget reports, budget analysts are able to map out efficient pathways to long-term financial success and are vital to overall employment security.
Budget analysts work for a myriad of companies spanning numerous fields of employment as they are requisite for longevity.
Budget Analyst Career Snapshot
Government agencies, corporations, and centers of education are ideal places of employment for budget analysts, as managing operating costs and profit margins are essential for continued growth for these organizations. Budget analysts are also often employed by smaller companies and independent stockholders to oversee financial stability through the use of numerical analysis to render budget reports.
Further details on a career as a budget analyst are listed below (statistics from the May 2015 Bureau of Labor Statistics and Onet Online):
is the average yearly salary for budget analysts.
increase in employment between 2014 and 2024.
have a Bachelor’s degree while 11% have an Associate’s degree.
Budget Analyst Education
Acquiring employment as a budget analyst with most organizations will require at bare minimum, a bachelor’s degree, while a master’s degree in the field will vastly widen the range of viable options.
Separate degrees, such as the knowledge acquired through accounting or statistics can also offer increased aid in attaining a position with reputable corporations due to the high level of competition.
Budget Analyst Job Outlook
Although most organizations tend to employ a budget analyst of some kind, the growth potential for this job is only expected to increase by 3% over the next decade. Budget cuts within in the government is a prime reason for the stymied growth of the budget analyst career.
Budget Analyst Salaries
The median pay for budget analysts is currently about $71,590 according to May 2015 BLS.gov statistics, with entry-level positions beginning at $47,550, and seasoned budget analysts accruing $108,600 annually. This salary is not expected to rise significantly due to the limited projected growth potential of the budget analyst.
Budget Analyst Job Duties
Budget analyst careers are present in nearly every field where for-profit businesses exist, and because of this, they take on a wide range of duties. On the most basic level, a budget analyst will be responsible for keeping company finances on an upward trend by maintaining low operating costs, while seeking maximum profit and growth potential through research and collaboration with project managers and other financial advisers within the organization.
Budget Analyst Skills & Traits
|Budget Analyst Skill Set:||Required Abilities:||Tools Used by Budget Analyst:||Typical Work Activities:|
|• Active Listening|
• Reading Comprehension
• Critical Thinking
|• Mathematical Reasoning|
• Number Facility
• Oral Comprehension
• Written Comprehension
• Deductive Reasoning
|• Desktop/notebook computers|
• Laser printers
• Accounting software
• Development environment software
• Financial analysis software
|• Working with Computers|
• Analyzing Data
• Getting Information
• Processing Information
• Communicating with Others
Accountants & Auditors