How much does a Budget Analyst make?
Budget analysts help organizations make smart financial choices. They study financial data to figure out how to spend money wisely. Their work is important in both the public and private sectors. They look at past spending to predict future needs. This helps companies and governments plan their budgets.
The salary for budget analysts can vary based on experience and location. On average, budget analysts earn about $82,487 a year. Here's a closer look at the earnings based on experience:
- Top 10% of earners make over $141,682 a year.
- Top 25% of earners make over $102,409 a year.
- Mid-level earners make between $63,136 and $92,591 a year.
- Lower-level earners make between $43,500 and $63,136 a year.
Budget analysts often get more training and experience, which can lead to higher salaries. Their skills in analyzing financial data are highly valued. They play a key role in helping organizations manage their finances well.
What are the highest paying cities for a Budget Analyst?
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Tampa, FL
Average Salary: $108,840
In Tampa, you will find budget management roles in various sectors, including finance and healthcare. Companies like AdventHealth and Raymond James Financial attract many professionals. The job market offers diverse opportunities with a mild climate.
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Washington, DC
Average Salary: $107,284
Working in Washington, DC, means you can help manage budgets for federal agencies. Companies like Deloitte and the World Bank hire professionals for this role. You will enjoy a vibrant professional community and many networking opportunities.
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Colorado Springs, CO
Average Salary: $101,386
Colorado Springs offers budget analyst roles in government and defense sectors. Firms like Northrop Grumman and Lockheed Martin provide great chances. The city’s outdoor lifestyle adds to the work-life balance.
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San Francisco, CA
Average Salary: $100,931
In San Francisco, budget analysts support tech companies like Google and Salesforce. These roles demand strong analytical skills. The tech-heavy environment offers a fast-paced and innovative atmosphere.
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Boulder, CO
Average Salary: $96,925
Boulder provides a mix of government and private sector opportunities. Companies like Ball Aerospace and CU Boulder hire budget analysts. The scenic location and healthy lifestyle appeal to many professionals.
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Sioux Falls, SD
Average Salary: $94,725
Sioux Falls offers a mix of government and corporate roles. Firms like Avera Health and Daktronics provide solid opportunities. The city’s smaller size means a tight-knit professional community.
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Huntsville, AL
Average Salary: $93,510
Huntsville boasts opportunities in aerospace and defense. Companies like NASA and Aerojet Rocketdyne hire for budget analyst roles. The area’s focus on technology and innovation makes it an exciting place to work.
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Honolulu, HI
Average Salary: $93,260
In Honolulu, budget analysts support both the government and tourism sectors. Companies like Hawaiian Airlines and the State of Hawaii offer roles. The island lifestyle provides a relaxed work environment.
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Sacramento, CA
Average Salary: $92,970
Sacramento offers roles in both state government and private sectors. Companies like Bank of America and the State of California hire professionals. The city’s central location adds to its appeal.
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Seattle, WA
Average Salary: $91,849
Seattle is home to tech giants like Amazon and Microsoft, offering diverse budget analyst roles. The city’s dynamic tech environment provides many opportunities for career growth. The mild climate and outdoor activities enhance work-life balance.
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What are the best companies a Budget Analyst can work for?
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Office of the Chief Financial Officer (OCFO)
Average Salary: $108,516
The OCFO offers rewarding opportunities for Budget Analysts, focusing on financial management across various federal departments. Working in Washington, D.C., analysts handle federal budgets and financial oversight.
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Heluna Health
Average Salary: $107,500
Heluna Health provides diverse roles for Budget Analysts. This non-profit organization operates across California, focusing on public health initiatives. Analysts here manage budgets for healthcare programs and research.
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CGI
Average Salary: $107,299
CGI is a global IT and consulting company. Budget Analysts at CGI work on large-scale projects, ensuring fiscal responsibility. Locations include major cities worldwide, with a strong presence in North America.
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US Executive Office for U.S. Attorneys and the Office of the U.S. Attorneys
Average Salary: $104,969
This federal agency seeks Budget Analysts to oversee legal budget allocations. They work in Washington, D.C., and other major U.S. cities, ensuring funds are used effectively for legal proceedings.
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Northrop Grumman
Average Salary: $93,509
Northrop Grumman offers challenging roles for Budget Analysts, focusing on defense and aerospace budgets. Locations include Virginia, California, and other states with defense contracts.
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State of Washington
Average Salary: $91,314
The State of Washington provides many opportunities for Budget Analysts, managing state budgets across various sectors. Locations include Olympia and other major cities in Washington.
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New York City Department of Transportation
Average Salary: $88,321
This department offers rewarding roles for Budget Analysts, focusing on transportation budgets. They work in New York City, managing funds for public transit and infrastructure projects.
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State of Colorado
Average Salary: $83,882
The State of Colorado provides Budget Analysts with roles in managing state budgets. They work in Denver and other state locations, focusing on public services and infrastructure.
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State of Louisiana
Average Salary: $82,242
The State of Louisiana offers Budget Analysts roles in overseeing state budgets. They work in Baton Rouge and other major cities, managing funds for public services and infrastructure.
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State of North Carolina
Average Salary: $80,261
The State of North Carolina provides roles for Budget Analysts focused on managing state budgets. They work in Raleigh and other key locations, overseeing funds for public services and infrastructure.
How to earn more as a Budget Analyst?
Becoming a Budget Analyst offers a stable career with a decent salary, but earning more requires strategic actions. An analyst can increase their earning potential by gaining more experience, enhancing their skills, and considering the right work environments. Each of these factors contributes to higher earning opportunities in the field of budget analysis.
Focusing on specific areas can boost an analyst's salary. For instance, gaining experience and moving into senior roles often leads to higher pay. Specialization in high-demand areas like finance or government can also increase earning potential. Certifications and advanced degrees add value and can command higher salaries. Analysts who work in larger organizations or metropolitan areas may also find better pay opportunities. Networking within professional organizations and staying updated with industry trends ensures that analysts remain competitive in the job market.
Here are five factors to consider for earning more as a Budget Analyst:
- Gain more experience and move into senior roles.
- Specialize in high-demand areas like finance or government.
- Pursue certifications and advanced degrees.
- Seek opportunities in larger organizations or metropolitan areas.
- Network within professional organizations and stay updated with industry trends.
