USA Career Guide- Budget Analyst
Education & Certification needed to be Budget AnalystTo enter the career as budget analysts you need to have at least a bachelor's degree. However, some employers may require candidates to have a master’s degree. For the federal government, a bachelor's degree in any field is enough for an entry-level budget analyst position. 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.
CertificationGovernment budget analysts may earn the Certified Government Financial Manager credential from the Association of Government Accountants. 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 pass a series of exams. To keep the certification, budget analysts must take 80 hours of continuing education every 2 years.
Pay of Budge AnalystsThe median annual wage of budget analysts was $68,200 in May 2010. The lowest 10 percent earned less than $44,860, and the top 10 percent earned more than $101,660.
Job Prospects of Budget Analyst
Employment of budget analysts is expected to grow 10 percent from 2010 to 2020, about as fast as the average for all occupations. During periods of budget cutbacks, the expertise of budget analysts remains in high demand, meaning employment remains more stable in comparison with other public employees.
Familiarity with spreadsheet, database, data-mining, financial-analysis, and Enterprise Resource Planning software packages also should enhance a job seeker's prospects.
Industrial Overview of Budget AnalystsBudget analysts held 62,100 jobs in 2010. They worked in a variety of settings, including government agencies, universities, and companies. Although budget analysts usually work in offices, some may travel to get budget details firsthand or to verify funding allocations. The following industries employed the most budget analysts in 2010:
Federal government, excluding postal service 21%
Educational services; state, local, and private 14%
State government, excluding education and hospitals 12%
Local government, excluding education and hospitals 11%
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2012-13 Edition