### Bureau of Labor Statistics U.S. Bureau of Labor Statistics

Budget Analysts Summary
                        
            
                                                        
                                                                
                        
            
            
            
                            
                                                
                                                
                                                
                                                
            						
							
				                                                
                                            




            			budget analysts imageBudget analysts help public and private institutions organize their finances.							
						Quick Facts:     Budget Analysts2023     Median Pay
            						$84,940     per year
										$40.84     per hourTypical Entry-Level Education
                                    Bachelor's degreeWork Experience in a Related Occupation
                                    NoneOn-the-job Training
                                    NoneNumber of Jobs, 2022
                                    51,600Job Outlook, 2022-32
                                    3% (As fast as average)Employment Change, 2022-32
                                    1,700What Budget Analysts Do
                                                
                        
                        
Budget analysts help public and private organizations plan their finances.
            
                        Work Environment
                        
Budget analysts work in government agencies, private companies, and universities. Most work full time.
            
                                                How to Become a Budget Analyst
                                                
                        
Budget analysts typically need a bachelor’s degree to enter the occupation. Courses in accounting, economics, and statistics are helpful.
            
                        Pay
                        												                            																				    														The median annual wage for budget analysts was $84,940 in May 2023.									                                					
						
            
                        Job Outlook
                        						
												Employment							of budget analysts is projected to grow							 3 percent from 2022 to 2032, about as fast as the average for all occupations.
						About 3,600 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.
						State & Area Data
                       Explore resources for employment and wages by state and area for budget analysts.
            
            
						
                        Similar Occupations
                        
                                                    Compare the job duties, education, job growth, and pay of budget analysts with similar occupations.
            
            
                        More Information, Including Links to O*NET
                        
                                               
                        Learn more about budget analysts by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
 What Budget Analysts Do 
            

			Budget analystsBudget analysts prepare budget reports and monitor spending.			
Budget analysts help public and private organizations plan their finances. They prepare budget reports and monitor organizational spending.
Duties
Budget analysts typically do the following:
Work with program and project managers to develop the organization’s budget
Review managers’ budget proposals and funding requests for completeness, accuracy, and compliance with laws and other regulations
Combine program and department budgets into a consolidated organizational budget
Explain funding requests to others in the organization, to legislators, and to the public
Help top managers analyze proposed plans and find alternatives if the projected results are unsatisfactory
Monitor organizational spending to ensure that it is within budget
Inform program managers of the status and availability of funds
Estimate future financial needsBudget 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.
 Work Environment
			Budget analystsBudget analysts work in a variety of settings including government agencies, universities, and companies.			

	    
				
	
	
	
	
	
	
	    					 Budget analysts held about 51,600 jobs in 2022. The largest employers of budget analysts were as follows:
        Federal government
                24%Educational services; state, local, and private
                14State government, excluding education and hospitals
                11Local government, excluding education and hospitals
                10Professional, scientific, and technical services
                9Although budget analysts usually work in offices, they may travel to get budget details firsthand or to verify funding allocations.
Work Schedules
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.
 How to Become a Budget Analyst

			Budget analystsBudget analysts must present technical information in writing that is understandable for the intended audience.			
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.
Education
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.
Licenses, Certifications, and Registrations
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.
Important Qualities
***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.
 Pay

			



	
 
                                                     
            
    
                Budget AnalystsMedian annual wages, May 2023Budget analysts$84,940  Financial specialists$80,090  Total, all occupations$48,060Note: All Occupations includes all occupations in the U.S. Economy.Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics
 

	
	



		
	
	
	
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
                $99,200Federal government
                94,760Local government, excluding education and hospitals
                83,620State government, excluding education and hospitals
                76,620Educational services; state, local, and private
                73,590Most 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.
 Job Outlook

   
        
    
          
        
    
               Budget AnalystsPercent change in employment, projected 2022-32Financial specialists5%  Total, all occupations3%  Budget analysts3%Note: All Occupations includes all occupations in the U.S. Economy.Source: U.S. Bureau of Labor Statistics, Employment Projections program
            
            
			 
	
	
	

			Employment				of budget analysts is projected to grow				 3 percent from 2022 to 2032, about as fast as the average for all occupations.
			
			About 3,600 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.
			Employment
	
			
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.
			

                        Employment projections data for     budget analysts, 2022-32
                Occupational Title
                        SOC Code
                        Employment, 2022
                        Projected Employment, 2032
                        Change, 2022-32
                        Employment by IndustryPercent
                        NumericSOURCE: U.S. Bureau of Labor Statistics, Employment Projections program**Budget analysts**
			13-2031
			51,600
			53,300
			3
			1,700
			Get data
 State & Area Data **Occupational Employment and Wage Statistics (OEWS)** The Occupational Employment and Wage Statistics (OEWS) program produces employment and wage estimates annually for over 800 occupations. These estimates are available for the nation as a whole, for individual states, and for metropolitan and nonmetropolitan areas. The link(s) below go to OES data maps for employment and wages by state and area. Budget analysts **Projections Central** Occupational employment projections are developed for all states by Labor Market Information (LMI) or individual state Employment Projections offices. All state projections data are available at www.projectionscentral.com. Information on this site allows projected employment growth for an occupation to be compared among states or to be compared within one state. In addition, states may produce projections for areas; there are links to each state’s websites where these data may be retrieved. **CareerOneStop** CareerOneStop includes hundreds of occupational profiles with data available by state and metro area. There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a salary info tool to search for wages by zip code.
 Similar Occupations 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**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 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**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**Actuaries**
            Actuaries use mathematics, statistics, and financial theory to analyze the economic costs of risk and uncertainty.
            Bachelor's degree
            $120,000**Financial Examiners**
            Financial examiners ensure compliance with laws that govern institutions handling monetary transactions.
            Bachelor's degree
            $84,300**Insurance Underwriters**
            Insurance underwriters evaluate insurance applications and decide whether to approve them.
            Bachelor's degree
            $77,860
 Contacts for More Information
								
For information about the Government Financial Manager certification, visit
Association of Government Accountants

                                                
                                                        
                                                                                                    O*NET
                                        Budget Analysts
 Suggested citation: Bureau of Labor Statistics, U.S.  Department of Labor, Occupational Outlook Handbook, Budget Analysts, 
        	 at https://www.bls.gov/ooh/business-and-financial/budget-analysts.htm (visited *May 21, 2024*).
 **Last Modified Date:**
                        Wednesday, April 17, 2024


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