Career profile for Budget Analyst

What does a Budget Analyst do?

Budget Analysts examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.

In addition, Budget Analysts analyze budgeting and accounting reports.

What kind of tasks does a Budget Analyst perform regularly?

Budget Analysts are often responsible for overseeing or executing some or all of the following tasks:

Summarize budgets and submit recommendations for the approval or disapproval of funds requests.
Analyze monthly department budgeting and accounting reports to maintain expenditure controls.
Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
Direct the preparation of regular and special budget reports.
Provide advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.
Compile and analyze accounting records and other data to determine the financial resources required to implement a program.
Review operating budgets to analyze trends affecting budget needs.
Interpret budget directives and establish policies for carrying out directives.
Match appropriations for specific programs with appropriations for broader programs, including items for emergency funds.
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.
Seek new ways to improve efficiency and increase profits.

The above responsibilities are specific to Budget Analysts. More generally, Budget Analysts are involved in several broader types of activities:

Activities	Importance	Details
Working with Computers		Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Getting Information		Observing, receiving, and otherwise obtaining information from all relevant sources.
Analyzing Data or Information		Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Processing Information		Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Communicating with Supervisors, Peers, or Subordinates		Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Working with Computers

Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Getting Information

Observing, receiving, and otherwise obtaining information from all relevant sources.

Analyzing Data or Information

Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Processing Information

Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Communicating with Supervisors, Peers, or Subordinates

Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

What is a Budget Analyst salary?

The median salary for a Budget Analyst is $78,970, and the average salary is $82,690. Both the median and average roughly describe the middle of the Budget Analyst salary range, but the average is more easily affected by extremely high or low salaries.

Many Budget Analysts earn significantly more or less than the average, due to several factors. About 10% of Budget Analysts earn less than $51,220 per year, 25% earn less than $62,540, 75% earn less than $100,060, and 90% earn less than $121,360.

Between the years of 2020 and 2030, the number of Budget Analysts is expected to change by 4.8%, and there should be roughly 4,300 open positions for Budget Analysts every year.

Median annual salary: $78,970
Typical salary range: $51,220 - $121,360
Projected growth (2020 - 2030): 4.8%

What personality traits are common among Budget Analysts?

Interests

Career interests describe a person's preferences for different types of working environments and activities. When a person's interest match the demands of an occupation, people are usually more engaged and satisfied in that role.

Compared to most occupations, those who work as a Budget Analyst are usually higher in their Conventional, Enterprising, and Investigative interests.

Budget Analysts typically have very strong Conventional interests. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Also, Budget Analysts typically have strong Enterprising interests. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Lastly, Budget Analysts typically have moderate Investigative interests. Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.

Values

People differ in their values, or what is most important to them for building job satisfaction and fulfillment.

Compared to most people, those working as a Budget Analyst tend to value Working Conditions, Support, and Independence.

Most importantly, Budget Analysts strongly value Working Conditions. Occupations that satisfy this work value offer job security and good working conditions.

Second, Budget Analysts moderately value Support. Occupations that satisfy this work value offer supportive management that stands behind employees.

Lastly, Budget Analysts moderately value Independence. Occupations that satisfy this work value allow employees to work on their own and make decisions.

Psychological Demands

Each occupation brings its own set of psychological demands, which describe the characteristics necessary to perform the job well.

In order to perform their job successfully, people who work as Budget Analysts must consistently demonstrate qualities such as integrity, attention to detail, and dependability.

Below, you'll find a list of qualities typically required of Budget Analysts, ranked by importance:

Demands	Importance	Details
Integrity		Job requires being honest and ethical.
Attention to Detail		Job requires being careful about detail and thorough in completing work tasks.
Dependability		Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Analytical Thinking		Job requires analyzing information and using logic to address work-related issues and problems.
Cooperation		Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.

Integrity

Job requires being honest and ethical.

Attention to Detail

Job requires being careful about detail and thorough in completing work tasks.

Dependability

Job requires being reliable, responsible, and dependable, and fulfilling obligations.

Analytical Thinking

Job requires analyzing information and using logic to address work-related issues and problems.

Cooperation

Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.

What education and training do Budget Analysts need?

Many Budget Analysts will have a four-year bachelor's degree, but some do not.

Budget Analysts usually need several years of work-related experience, on-the-job training, and/or vocational training.

Educational degrees among Budget Analysts

0.4% did not complete high school or secondary school
5.7% completed high school or secondary school
9.7% completed some college coursework
6.0% earned a Associate's degree
43.7% earned a Bachelor's degree
31.9% earned a Master's degree
2.6% earned a doctorate or professional degree

Knowledge and expertise required by Budget Analysts

Budget Analysts may benefit from understanding of specialized subject areas, such as economics and accounting, mathematics, or administration and management knowledge.

The list below shows several areas in which most Budget Analysts might want to build proficiency, ranked by importance.

Knowledge areas	Importance	Details
Economics and Accounting		Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Mathematics		Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Administration and Management		Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Administrative		Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Law and Government		Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Economics and Accounting

Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.

Mathematics

Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Administration and Management

Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

Administrative

Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.

Law and Government

Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Important Abilities needed by Budget Analysts

Budget Analysts must develop a particular set of abilities to perform their job well. Abilities are individual capacities that influence a person's information processing, sensory perception, motor coordination, and physical strength or endurance. Individuals may naturally have certain abilities without explicit training, but most abilities can be sharpened somewhat through practice.

For example, Budget Analysts need abilities such as oral comprehension, written comprehension, and mathematical reasoning in order to perform their job at a high level. The list below shows several important abilities for Budget Analysts, ranked by their relative importance.

Abilities	Importance	Details
Oral Comprehension		The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension		The ability to read and understand information and ideas presented in writing.
Mathematical Reasoning		The ability to choose the right mathematical methods or formulas to solve a problem.
Number Facility		The ability to add, subtract, multiply, or divide quickly and correctly.
Written Expression		The ability to communicate information and ideas in writing so others will understand.

Oral Comprehension

The ability to listen to and understand information and ideas presented through spoken words and sentences.

Written Comprehension

The ability to read and understand information and ideas presented in writing.

Mathematical Reasoning

The ability to choose the right mathematical methods or formulas to solve a problem.

Number Facility

The ability to add, subtract, multiply, or divide quickly and correctly.

Written Expression

The ability to communicate information and ideas in writing so others will understand.

Critical Skills needed by Budget Analysts

Skills are developed capacities that enable people to function effectively in real-world settings. Unlike abilities, skills are typically easier to build through practice and experience. Skills influence effectiveness in areas such as learning, working with others, design, troubleshooting, and more.

Budget Analysts frequently use skills like active listening, reading comprehension, and speaking to perform their job effectively. The list below shows several critical skills for Budget Analysts, ranked by their relative importance.

Skills	Importance	Details
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.

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.

What is the source of this information?

The information provided on this page is adapted from data and descriptions published by the U.S. Department of Labor, Employment and Training Administration under the CC BY 4.0 license. TraitLab has modified some information for ease of use and reading, and the U.S. Department of Labor, Employment, and Training Administration has not approved, endorsed, or tested these modifications.

If you have any questions or suggestions about this information, please send a message.

Career profile Budget Analyst

Budget Analyst

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