Budget Analysts

Career summary

#3/28/19 lh

Budget analysts figure out how money has been spent in the past and how it should be spent in the future. They prepare budgets, which are financial plans for how money will be spent.

Analysts begin by collecting information. They look at what programs have cost in the past and what services have been provided. They study accounting records and past budgets in order to determine how much money is needed to run a program. They create a budget based on those findings.

Budget analysts combine budgets for many specific programs into a general overall budget. They go over the proposed financial plan with management and help make budget-related choices. They sometimes recommend which programs should be funded and which should not.

Budget analysts may speak to groups to explain or support proposed budgets. They may help coworkers determine costs and budget their program spending. They check reports and accounts to look for trends that might affect future budget needs. They write or direct the writing of budgetary reports.

Some budget analysts are required to draft budget-related legislation. Some conduct training sessions for coworkers on new budget procedures. Others are asked to prepare reports that measure how well an organization is doing its job.

Related careers

This career is part of the Finance cluster of careers.

Related careers include:

• Accountants and Auditors
• Actuaries
• Buyers and Purchasing Agents
• Cost Estimators
• Credit Analysts
• Financial Analysts
• Financial Counselors
• Financial Examiners
• Financial Managers
• Job Benefits and Analysis Specialists
• Management Analysts
• Market Research Analysts
• Operations Research Analysts
• Supply Chain Managers

Job duties

Task list

The following list of tasks is specific to budget analysts.

• Write or direct the writing of budget reports.
• Analyze monthly department budgets and accounts to keep spending under control.
• Provide advice and technical help with cost analysis, budget preparations, and annual spending.
• Check reports and accounts to look for trends that might affect future budget needs. Make sure accounts are accurate, complete, and up to date.
• Study accounting records in order to determine how much money will be needed to run a program. Create a budget based on those findings.
• Review budgets with top management and recommend changes so budgets match spending.
• Testify before groups or individuals to explain or support proposed budgets.
• Advise coworkers how to determine costs and budget their spending.
• Incorporate specific program budgets into a general overall budget.
• Collect information that is needed to prepare budgets.
• Recommend which programs should be funded and which should not.
• Compare programs by looking at past costs and services provided.
• Study how well an organization is doing its job.
• Seek new ways to improve efficiency and increase profits.

Common work activities

Budget analysts perform the following tasks. These tasks are common to many careers.

• Use computers
• Get information needed to do the job
• Analyze data or information
• Process information
• Communicate with supervisors, peers, or subordinates
• Establish and maintain relationships
• Evaluate information against standards
• Update and use job-related knowledge
• Make decisions and solve problems
• Document and record information
• Organize, plan, and prioritize work
• Identify objects, actions, and events
• Explain the meaning of information to others
• Monitor events, materials, and surroundings
• Estimate sizes, quantities, time, cost, or materials needed
• Perform administrative tasks
• Communicate with people outside the organization
• Develop goals and strategies
• Provide advice and consultation to others

Work requirements

Working conditions

In a typical work setting, budget analysts:

Interpersonal relationships

• Have a high level of social contact. However, they occasionally work alone to study financial information and write reports.
• Communicate with coworkers daily by telephone, e-mail, or in person.
• Write letters and reports daily.
• Work with a group of people. It is very important that analysts coordinate their activities with others.
• Are somewhat responsible for the work done by other analysts and assistants.

Physical work conditions

• Always work indoors.
• May share office space with other workers.

Work performance

• Are accurate when performing their job. This is very important when calculating numbers.
• Repeat the same physical and mental tasks while working at a computer.
• Often make decisions that affect others.
• Rarely consult a supervisor before making a decision or setting tasks and goals.
• Work in a moderately competitive environment.
• Abide by strict daily deadlines.

Hours/travel

• Generally have a set schedule each week.
• Work 40 hours per week.

Physical demands

Budget analysts frequently:

• Sit for long periods of time.

It is important for budget analysts to be able to:

• Speak clearly so listeners can understand.
• Understand the speech of another person.
• See details of objects that are less than a few feet away.

It is not as important, but still necessary, for budget analysts to be able to:

• See details of objects that are more than a few feet away.
• See differences between colors, shades, and brightness.
• Hear sounds and recognize the difference between them.

Skills and abilities

Budget analysts need to:

Communicate

• Listen to others and ask questions.
• Understand written information.
• Understand spoken information.
• Read and understand work-related materials.
• Write clearly so other people can understand.
• Speak clearly so listeners can understand.

Reason and problem solve

• Combine several pieces of information and draw conclusions.
• Use reasoning to discover answers to problems.
• Notice when something is wrong or is likely to go wrong.
• Follow guidelines to arrange objects or actions in a certain order.
• Analyze ideas and use logic to determine their strengths and weaknesses.
• Recognize the nature of a problem.
• Judge the costs and benefits of a possible action.
• Understand new information or materials by studying and working with them.
• Develop rules that group items in various ways.
• Think of new ideas about a topic.
• Recognize when important changes happen or are likely to happen in a system.
• Concentrate and not be distracted while performing a task.

Use math and science

• Add, subtract, multiply, and divide quickly and correctly.
• Choose a mathematical method or formula to solve problems.
• Use math skills to solve problems.

Manage oneself, people, time, and things

• Check how well one is learning or doing something.
• Decide how to spend money to get the work done and keep track of how the money was used.
• Manage the time of self and others.

Work with people

• Change behavior in relation to others' actions.
• Be aware of others' reactions and understand the possible causes.

Education and training

Educational programs

The programs of study listed below will help you prepare for the occupation or career cluster you are exploring.

Programs of study directly related to this occupation

• Accounting
• Business Economics
• Business Management and Administration
• Finance
• Public Administration

Other programs of study to consider

• Economics
• Engineering and Industrial Management
• Insurance
• Nonprofit Management
• Public Policy Studies
• Sociology
• Statistics

Training

To work as a budget analyst, you typically need to:

• have a high school diploma or equivalent; and
• have a bachelor's degree.

Education after high school

Budget analysts must have a bachelor's degree. The majors most closely related to this occupation are accounting, finance, business, and public administration. Other good choices are economics, statistics, and sociology. You may need a bachelor's degree in engineering to work in construction or manufacturing. Completing a master's degree in the area you want to work in is excellent preparation for this career.

You need strong math and communication skills to succeed in this occupation. Regardless of your college major, you should take courses in statistics, accounting, and English composition. You also need word processing and computer skills.

Budget analysts take courses throughout their careers to learn about changes in law and technology.

Work experience

Consider completing an internship while you are in college. It can provide you with valuable experience and contacts.

Many budget analysts begin their careers by working in accounting or cost estimation jobs. After a few years' experience in these fields, they can move to an analyst position.

On-the-job training

On-the-job training is common for beginning budget analysts. The length of training varies by employer and position. Many budget analysts receive up to three months of training. Almost half receive up to one year of training.

As a beginning budget analyst you start by helping experienced analysts with research. You gather and enter data on costs and funding sources. As you gain experience, you advance to tasks, such as writing budget estimates and analyzing budget requests.

Military training

Some branches of the military train people to be finance and accounting managers, which includes budget analysis. Training lasts two to 16 weeks. Further training occurs on the job and through advanced courses. You must have a degree in accounting, finance, or a related field to enter this military occupation.

Helpful high school courses

In high school, take classes that prepare you for college. A college preparatory curriculum may be different from your state's graduation requirements.

You should also consider taking some advanced courses in high school. This includes Advanced Placement (AP) and International Baccalaureate (IB) courses if they are available in your school. If you do well in these courses, you may receive college credit for them. Advanced courses can also strengthen your college application.

Helpful electives to take in high school that prepare you for this career include:

• Accounting
• Banking and Finance
• Computer Applications
• Economics
• Introduction to Business
• Probability and Statistics
• Sociology

The courses listed above are meant to help you create your high school plan. If you have not already done so, talk to a school counselor or parent about the courses you are considering taking.

You should also check with a teacher or counselor to see if work-based learning opportunities are available in your school and community. These might include field trips, job shadowing, internships, and actual work experience. The goal of these activities is to help you connect your school experiences with real-life work.

Join some groups, try some hobbies, or volunteer with an organization that interests you. By participating in activities you can have fun, make new friends, and learn about yourself. Maybe one of them will help direct you to a future career. Here are examples of activities and groups that may be available in your high school or community.

Things to know

Most employers require a bachelor’s degree. Some require a degree in a field related to the employer's industry. Some firms prefer employees who have a background in business. Employers look for people who are able to work under strict time constraints. They also prefer workers with strong writing and speaking skills.

Costs to workers

Workers may wish to join one of several professional associations, which may have annual dues. They may also pay for continuing education classes.

#Took over national content & added our CTW as they had statement saying employers prefer candidates with computer skills. Seems like computer skills necessary anymore, so struck that line, 3/21/16 cj.

Licensing/certification

Budget analysts who work for federal, state, or local governments may choose to take training programs offered by the Government Finance Officers Association or the National Association of State Budget Officers. For more information on training and costs, contact these organizations which are listed in the Other Resources section of this description.

#Modified statement to say training programs rather than certification, 2/15/18 cj. valid 3/28/19 lh

Job listings

Listed below are links to job categories from the National Labor Exchange that relate to this career. Once you get a list of jobs, you can view information about individual jobs and find out how to apply. If your job search finds too many openings, or if you wish to search for jobs outside of Washington, you will need to refine your search.

• Budget Analysts 

To get a listing of current jobs from the WorkSource system, go to the WorkSource website .

Wages

Wages vary depending on experience, education, and the employer.

Benefits vary by employer. Full-time workers often receive benefits such as sick leave, vacation, health insurance, and a retirement plan.

Employment and outlook

Washington outlook

The table below provides information about the number of workers in this career in various regions. It also provides information about the expected growth rate and future job openings.

National employment

Major employers:

• Federal, state, and local government agencies
• Educational services
• Manufacturing

National outlook

Demand for budget analysts will be about average. This is because as budgets are reduced there is more need for people with expertise in analyzing budgets. Turnover is high in this occupation as people move to positions with more complex duties. Job prospects are good for entry-level analysts.

Other resources

eFinancialCareers 

Government Finance Officers Association 
203 North LaSalle Street, Suite 2700
Chicago, IL 60601
312.977.9700

National Association of State Budget Officers 
Hall of the States Building, Suite 642
444 North Capitol Street NW
Washington, DC 20001
202.624.5382

Training Information for State Budget Analysts 

References

Career cluster

• Finance

Career path

• Conventional (Business Operations)

O*Net  occupation

• Budget Analysts (13-2031.00) 

O*Net job zone 

• Job Zone 4 - Considerable preparation needed. A minimum of two to four years of work-related skill, knowledge, or experience is needed for these occupations.

DOT occupations

• Budget Analyst (161.267-030) 
• Budget Officer (161.117-010) 

Holland occupational cluster

• Conventional/Enterprising/Investigative

COPSystem

• Business Professional