Budget analysts help public and private organizations plan their finances. They prepare budget reports and monitor organizational spending.
Budget analysts help public and private organizations plan their finances. They prepare budget reports and monitor organizational spending.
Budget analysts typically do the following:
Budget analysts advise organizations—including governments, private companies, and universities—about the details of 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 they recommend funding levels based on their findings. Although government officials or top executives in a private company usually decide on an organization’s budget, they rely on the work of budget analysts to prepare the information for that decision.
Sometimes, budget analysts use cost–benefit analyses to review financial requests, assess program tradeoffs, and explore alternative funding methods. Budget analysts also may examine past budgets and research economic and financial developments that affect the organization’s income and expenditures. Budget analysts may recommend cutting spending on particular programs or redistributing funds.
Throughout the year, budget analysts oversee spending to ensure that organizations comply with the budget and to determine whether certain programs need changes in funding. Analysts also evaluate programs to determine whether they are producing desired results.
In addition to providing technical analysis, budget analysts must communicate their recommendations effectively within the organization. For example, if there is a difference between the approved budget and actual spending, budget analysts may write a report explaining those discrepancies and recommend changes to reconcile them.
Budget analysts working in government may attend committee hearings to explain their recommendations to legislators. Occasionally, budget analysts evaluate how well a program is doing, assess policy, and draft budget-related legislation.
Budget analysts held about 50,800 jobs in 2023. The largest employers of budget analysts were as follows:
| Federal government | 26% |
| Educational services; state, local, and private | 15 |
| State government, excluding education and hospitals | 12 |
| Local government, excluding education and hospitals | 10 |
| Professional, scientific, and technical services | 8 |
Although budget analysts usually work in offices, they may travel to get budget details firsthand or to verify funding allocations.
Most budget analysts work full time, and overtime is sometimes required during development, mid-year, and final reviews of budgets. The pressures of deadlines and tight work schedules may be stressful.
Budget analysts typically need a bachelor's degree to enter the occupation. Some employers prefer to hire applicants who have a master's degree. Courses in accounting, economics, and statistics are helpful.
Budget analysts typically need at least a bachelor's degree in fields such as business, social science, psychology, or mathematics. Because developing a budget requires numeracy and analytical skills, coursework in accounting, economics, and statistics is helpful.
Sometimes, budget- or finance-related work experience may be substituted for formal education.
Budget analysts working in federal, state or local government may earn the optional Certified Government Financial Manager (CGFM) credential from the Association of Government Accountants (AGA). CGFM candidates must have at least a bachelor’s degree, abide by the AGA’s Code of Ethics, pass examinations, and complete a designated period of professional-level experience in governmental financial management. To maintain certification, CGFMs must complete continuing education.
Although the CGFM is not required, having a designation may help with career advancement.
Analytical skills. Budget analysts must be able to process a variety of information, evaluate costs and benefits, and solve complex problems.
Communication skills. Budget analysts must be able to explain and defend their analyses and recommendations in meetings and legislative committee hearings.
Detail oriented. Creating an efficient budget requires careful analysis of each budget item.
Math skills. Budget analysts need math skills and the ability to use financial-management software and programs.
Writing skills. Budget analysts must present written technical information in a way that is understandable to the intended audience.
Median annual wages, May 2023
The median annual wage for budget analysts was $84,940 in May 2023. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $56,760, and the highest 10 percent earned more than $131,630.
In May 2023, the median annual wages for budget analysts in the top industries in which they worked were as follows:
| Professional, scientific, and technical services | $99,200 |
| Federal government | 94,760 |
| Local government, excluding education and hospitals | 83,620 |
| State government, excluding education and hospitals | 76,620 |
| Educational services; state, local, and private | 73,590 |
Most budget analysts work full time, and overtime is sometimes required during development, mid-year, and final reviews of budgets. The pressures of deadlines and tight work schedules may be stressful.
Percent change in employment, projected 2023-33
Employment of budget analysts is projected to grow 4 percent from 2023 to 2033, about as fast as the average for all occupations.
About 3,400 openings for budget analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Calls for efficient use of public funds will lead to continued demand for budget analysts to estimate program costs, develop budgets, and explain their findings to legislators and the public. Demand for these workers is somewhat tied to the government funding that is allocated for these positions. However, budget analysts manage resource allocation and will be needed even during times of tight budgets.
| Occupational Title | SOC Code | Employment, 2023 | Projected Employment, 2033 | Change, 2023-33 | Employment by Industry | ||
|---|---|---|---|---|---|---|---|
| Percent | Numeric | ||||||
SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program | |||||||
Budget analysts | 13-2031 | 50,800 | 52,700 | 4 | 2,000 | Get data | |
This table shows a list of occupations with job duties that are similar to those of budget analysts.
| Occupation | Job Duties | ENTRY-LEVEL EDUCATION  | 2023 MEDIAN PAY | |
|---|---|---|---|---|
 | Accountants and Auditors | Accountants and auditors prepare and examine financial records. | Bachelor's degree | $79,880 |
 | Actuaries | Actuaries use mathematics, statistics, and financial theory to analyze the economic costs of risk and uncertainty. | Bachelor's degree | $120,000 |
 | Cost Estimators | Cost estimators collect and analyze data in order to assess the time, money, materials, and labor required to make a product or provide a service. | Bachelor's degree | $74,740 |
 | Economists | Economists conduct research, prepare reports, and evaluate issues related to monetary and fiscal policy. They also may collect and analyze statistical data. | Master's degree | $115,730 |
 | Financial Analysts | Financial analysts guide businesses and individuals in decisions about expending money to attain profit. | Bachelor's degree | $99,890 |
 | Financial Examiners | Financial examiners ensure compliance with laws that govern institutions handling monetary transactions. | Bachelor's degree | $84,300 |
 | Financial Managers | Financial managers create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization. | Bachelor's degree | $156,100 |
 | Insurance Underwriters | Insurance underwriters evaluate insurance applications and decide whether to approve them. | Bachelor's degree | $77,860 |
 | Management Analysts | Management analysts recommend ways to improve an organization’s efficiency. | Bachelor's degree | $99,410 |
 | Tax Examiners and Collectors, and Revenue Agents | Tax examiners and collectors, and revenue agents determine how much is owed in taxes and collect tax from individuals and businesses on behalf of the government. | Bachelor's degree | $58,530 |
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