Budget Analyst
Budget analysts work in many different economic areas and are in charge of providing businesses with projections, annual reports, and annual budget recommendations. He or she collects data, analyzes that data, and then provides organizations with advice needed for upcoming periods of time. Budget analysts may work for public companies, private businesses, and/or non-profit organizations. He or she verifies and compares data from that entity to check for accuracy, legal compliance, and general efficiency. Budget analysts typically work as part of a team and must collaborate with different company department heads, financial planners, financial officers, and upper management. Other common duties include: keeping up to date records, maintaining financial journals, reviewing company expense reports, serving as a go between for various company departments, updating and maintaining company databases, and preparing company financial statistics.
A budget analyst is required to hold either a Bachelor’s or Master’s degree in economics, finance, business administration, or other related field. Other needed skills include: strong communication skills, accounting skills, analytical skills, problem-solving skills, the ability to work as part of a team, computer skills, and reporting skills.
The typical average salary of budget analyst is about $56,000 per year. Individuals just entering the field earn an average starting salary of about $45,100 per year. Analysts that work for major corporations and those who have a great deal of experience earn an average salary of between $70,500 and $87,380 per year. More opportunities for advancement are available for those who hold a Master’s degree.
