The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. Budget analysts must be able to process a variety of information, evaluate costs and benefits, and solve complex problems. The minimum education for a budget analyst is a bachelor’s degree in accounting, finance, or a related area. As with virtually any career, salary expectations can increase with education and experience. Print This Post. The requirements for this certification includes a minimum of a bachelor’s degree, 24 credit hours of study in financial management, two years of professional experience in governmental financial management, and passing scores on three exams that evaluate competency and test a candidate’s knowledge of ethics and related law. … They analyze data to determine the costs and benefits of various programs, and they recommend funding levels based on their findings. Math skills. Senior Budget Planning Analyst. Senior and high-profile positions will require an advanced degree such as a Masters or Doctorate. Budget analysts working in government may attend committee hearings to explain their recommendations to legislators. Senior Budget Analyst Job Description. GS-09 Interpreting guidance, preparing and submitting a budget; ensuring budget is executed accordingly. Part-time experience can be pro-rated (i.e., a year at 20 hours per week is credited as 6 months … Most employers want their analysts to have at least a bachelor's degree. Because developing a budget requires strong numerical and analytical skills, courses in … In this role, your responsibilities will include all aspects of formulation, analysis, justification, and automation of Intel Community (IC) budgets. Budget Analyst Education Requirements. Budget Analysts work across a wide range of employers. Newly hired budget analysts, budget assistants, other analysts, assistants, administrative staff working on budget issues, other staff members who handle budget issues, and anyone else who wants to learn about the Budget Analysis Series, GS-0560 What You Will Learn. Take this opportunity in your budget analyst job description to tell prospective candidates about work from home and support staff options, and sell them on the benefits that set your firm apart, such as stock and ownership options, paid parental leave, or corporate travel accounts. Most budget analysts work full time, and overtime is sometimes required during final reviews of budgets. To earn this certification, candidates must have a minimum of a bachelor’s degree, 24 credit hours of study in financial management, 2 years of professional-level experience in governmental financial management, and they must … Although government officials or top executives in a private company usually make the final decision on an organization’s budget, they rely on the work of budget analysts to prepare the information for that decision. Budget Analyst Qualifications … The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems. A bachelor’s degree is typically required to become a budget analyst. Qualifications. Budget Analyst Resume Examples. Detail oriented. Budget Analyst User’s Guide IFCAP Version 5.1 v Preface This is the IFCAP V. 5.1 Budget Analyst User's Guide. Must have excellent communication and writing skills. … This information is taken directly from the Occupational Outlook Handbook published by the US Bureau of Labor Statistics. To earn this certification, candidates must have a minimum of a bachelor’s degree, 24 credit hours of study in financial management, and 2 years of professional-level experience in governmental financial management. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The career information above is taken from the Bureau of Labor Statistics Occupational Outlook Handbook. Budget Analysts typically are required to possess a bachelor's degree in Accounting, Finance or related field. The budget analyst resume sample covers about 15 years of career experience and includes the company name, official job title, dates of employment, and location of each job. Certified budget analysts are required to take 80 hours of continuing education every 2 years for renewal of certification. Insurance underwriting analyst: analyzes individual, company, and industry data for decisions on insurance plans. Budget analysts then combine individual departmental budgets into operating and capital budget summaries that contain statements that support or advocate against funding requests. By bringing together all of an organization’s operating information into a single computer system, ERP programs help analysts estimate how a change in the budget will affect each part of the organization. Analyst Qualifications. Barbaricum is seeking an early-career financial professional to support Barbaricum's rapidly growing corporate operations. Budget analyst: focuses on the analysis and reporting of a specified budget. Truity does not editorialize the information, including changing information that our readers believe is inaccurate, because we consider the BLS to be the authority on occupational information. In general, budget analysts need at least a bachelor’s degree in a related field, such as business administration, finance, or accounting. There is no specific budget analyst degree. … Throughout the year, budget analysts oversee spending to ensure compliance with the budget and determine whether changes to funding levels are needed for certain programs. Policy, Data, Oversight Classification & Qualifications. Salary and job growth information included. Use our Career Test Report to get your career on track and keep it there. Applicant must be eligible to work in the United States; ASU Office of Planning and Budget will not be a sponsor for this position. Budget analysts help public and private institutions organize their finances. Most budget analysts need math skills and should be able to use certain software, including spreadsheets, database functions, and financial analysis programs. Employers generally require budget analysts to have at least a bachelor's degree. Senior and high-profile positions will require an advanced degree such as a Masters or Doctorate. Take this opportunity in your budget analyst job description to tell prospective candidates about work from home and support staff options, and sell them on the benefits that set your firm apart, such as stock and ownership options, paid parental leave, or corporate travel accounts. Share on Twitter; Share on Facebook; Share on LinkedIn; Share via E-mail; Print This Page; The following requirements are prescribed by the Office of Personnel Management and used to determine minimum qualifications. The Budget Analyst will be responsible for developing budgets, monitoring and reporting on the status of Information Technology and other projects for a Federal Government Client. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. Job description and duties for Budget Analyst. The U.S. Department of Labor, Bureau of Labor Statistics expects budget analysts with master’s degrees to have the best job opportunities. There are plenty of opportunities to land a Budget Analyst job position, but it won’t just be handed to you. The minimum education for a budget analyst is a bachelor’s degree in accounting, finance, or a related area. The largest employers of budget analysts were as follows: Although budget analysts usually work in offices, some may travel to get budget details firsthand or to verify funding allocations. Analysts submit the budget summaries to senior management, or in the case of government work, to appointed or elected officials responsible for budgeting decisions. Apply to Budget Analyst, Senior Budget Analyst and more! Budget analysts also may examine past budgets and research economic and financial developments that affect the organization’s income and expenditures. The position to be filled is a Management Analyst, GS-343-9. Some government budget analysts help evaluate performance programs, analyze financial policies for efficiency and viability, and help draft budget-related legislation. Because developing a … However, if you would like to correct a typo or other technical error, you can reach us at help@truity.com. Gain the clarity and confidence that comes from understanding your strengths, talents, and preferences, and knowing which path is truly right for you. I am not sure if this career is right for me. When looking at the biggest industry employers of budget analysts, the median salaries that year were: The BLS expects employment opportunities for budget analysts to increase by seven percent during the ten-year period leading up to 2026, keeping pace with the overall national job growth trend. Statistics. Courses in accounting, economics, and statistics are helpful. Budget analysts held about 56,900 jobs in 2018. Education for Budget Analysts. This position will be based exclusively out of our Corporate Headquarters in Washington, DC, with standard onsite core business hours (9am-5pm, Monday-Friday). Because of the high level of responsibility in this role, however, … In addition to financial and technical skills, budget analysts need strong verbal and written communication skills. I think I have found an error or inaccurate information on this page. Budget Analysis Series, 0560 Individual Occupational Requirements. Analysts also evaluate programs to determine whether they are producing the desired results. Creating an efficient budget requires careful analysis of each budget item. Related Information Associated Group Standard. Budget analysts typically have an interest in the Thinking, Persuading and Organizing interest areas, according to the Holland Code framework. Cover letter is required. In addition to providing technical analysis, budget analysts must communicate their recommendations effectively to officials within the organization. Budget Analysis Series, 0560 Individual Occupational Requirements. Verified employers. They prepare annual and special reports and evaluate budget proposals. You should also be knowledgeable about all legal regulations pertaining to budgeting. Employers generally require budget analysts to have at least a bachelor's degree. Copyright © 2020, Truity. Who is the author? The median annual salary for a budget analyst in 2016 was $73,840, according to the BLS. They prepare budget reports and monitor institutional spending. Government budget analysts can earn the designation Certified Government Financial Manager from the Association of Government Accountants. Budget analysts need strong communication skills because they often have to explain and defend their analyses and recommendations in meetings and legislative committee hearings. In large organizations such as major corporations and state and local governments, a senior budget analyst leads a team of other budget analysts and financial specialists in developing the annual budget. Some prefer a master's. For example, if there is a difference between the approved budget and actual spending, budget analysts may write a report explaining the variations and recommend changes to reconcile the differences. Additionally, budget analysts who work for the government can earn certification through the Certified Public Finance Officers (CPFO) Program, offered by the Government Finance Officers … This credential … Many organizations now use Enterprise Resource Planning (ERP) programs as part of the budgeting process. If you are in high school and you think you may want to pursue a career as a budget analyst, you should take math, including statistics, English, and computer classes. Professional, scientific and technical services – $83,890, Educational services, including private, state and local – $66,350. A budget analyst must have a strong mathematical mind and an ability to think critically. For information about the Government Financial Manager certification, visit. Since this occupation has relatively few job openings due to separations, jobseekers are likely to face competition for the limited number of budget analyst positions. Budget Analysts support the financial strategy of a company and engage in work activities like developing budgets, managing funds and resources, performing cost-benefit analyses, estimating future financial needs, and guiding other employees regarding budget … Competitive salary. How can I decide? Online AS and BS in Accounting with focus of Finance or Forensic Accounting, Online BS-Accounting and a BS-Accounting CPA Pathway, Associate's and Bachelor's Degree Programs, Online MBA and MS in Accounting with numerous focus options, Master of Science in Accounting – General, Online MBA Accounting and Finance Self-Designed, Best 100% Online Accounting Master’s Programs 2018, Most Affordable Bachelor Degree Programs in Accounting, Most Affordable Master’s Degree Programs in Accounting, NASBA – National Association of State Boards of Accountancy, IMA – Association for Accountants and Financial Professionals in Business, AGA – Association of Government Accountants, CGMA – Chartered Global Management Accountants, CIMA – Chartered Institute of Management Accountants, CPA – Chartered Professional Accountants of Canada, FASAB – Federal Accounting Standards Advisory Board, FASB – Financial Accounting Standards Board, GASB – Government Accounting Standards Board, IFAC – International Federation of Accountants, IASB – International Accounting Standards Board, SPAC – Society of Professional Accountants of Canada, Prepare, maintain, and analyze balance sheets, income statements, and other financial records and reports, Monitor disbursements (such as payments to vendors) and research problems to identify issues and recommend corrections, Help prepare monthly metrics reports, internal management reports, and external regulatory reports, Help present financial data, progress, and performance metrics information for briefings and other presentations, Research complex accounting issues and errors to find solutions. High School Requirements. This is because the job involves preparing, presenting, and often defending budget proposals when presenting them to decision makers. The budget analyst position is accountable for preparing the annual budget, comparing it to actual results, and reporting on variances from the budget. Who should I contact? The pressures of deadlines and tight work schedules can be stressful. Employment of budget analysts is projected to grow 3 percent from 2014 to 2024, slower than the average for all occupations. Because budget analysts are responsible for managing the allocation of resources, the need for these workers remains even during times of tight budgets. For many jobs, the CPA credential is a definite advantage, and sometimes is required. Occasionally, budget analysts may evaluate how well a program is doing, provide policy analysis, and draft budget-related legislation. Each job entry includes several … A masters degree in business administration or finance, with exceptional electronic spreadsheet construction skills. The lowest 10 percent earned less than $50,230, and the highest 10 percent earned more than $116,510. EXPERIENCE: One year of work experience is twelve months working full-time (at least 35-40 hours per week). Federal, state, and local governments have varying requirements, but usually require a bachelor's degree in one of many areas, such as accounting, finance, business, public administration, economics, statistics, political science, or sociology. ... Associated Group Standard. IFCAP stands for Integrated Funds Distribution, Control Point Activity, Accounting and Procurement. Budget Analysts typically are required to possess a bachelor's degree in Accounting, Finance or related field. Assist in developing operating budgets. The job responsibilities of more experienced analysts include more complex tasks: In preparing, coordinating, monitoring, and analyzing budgets, the initial budgeting process typically involves four components: Budget analysts use spreadsheet, database, and financial analysis software. The median annual wage for budget analysts was $71,590 in May 2015. Regardless of the specific major, which could include accounting, business, economics, finance, public administration, statistics, political science, or sociology, classes in statistics and accounting are a must for aspiring budget analysts. Some senior analyst jobs require an MBA or a master’s degree in accounting, finance, or a related field. This excellent resource for occupational data is published by the U.S. Department of Labor every two years. The budget analyst series covers positions that perform, advise on, or supervise work in any of the phases of budget administration when such work requires knowledge and skill in applying budget … U.S. Office of Personnel Management… The top ten percent of earners with this … Find out what it takes to succeed as a budget analyst or budget … Communication skills. A budget analyst assists the top manager, chief operations officer, or other agency heads to analyze funding proposals and find alternate solutions if the results are not acceptable. 15,453 Budget Analyst jobs available on Indeed.com. Most earn a degree in business, accounting, public administration, finance, statistics, political science, sociology, or economics. Their primary role is to collect and interpret data to gain a broader insight into a … Job email alerts. It contains common patterns of creditable experience and education to be used in making qualifications determinations. 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