Budget analysts work for governments colleges and universities national and multinational corporations and small and large organizations. Budget analysts examine financial reports on a regular basis. Then they develop budgets that distribute available funds as efficiently and effectively as possible and they come up with cost saving ideas.
According to the website Searchbydegree.com budget analysts need a minimum of a bachelor's degree but those with master's degrees have a greater number of employment opportunities. Having computer skills especially with regard to financial software programs is highly advantageous for those seeking jobs in this profession.
Budget analysts must have excellent oral and written communication skills because they are often required to present budget reports project future needs and defend budget proposals to those who will make the final decisions. Usually they get periodic training to update their skills and to keep up with new techniques. In all their work they must adhere to the strictest ethical standards and they are bound to maintain confidentiality at all times.
Approximately half of budget analysts work for the government-local state or federal. However many work for the private sector in both for-profit and non-profit organizations and companies. Once hired competent budget analysts are less vulnerable than other employees to layoffs because of the need for their skills. Early in their careers they work under close supervision but as their competence increases they can be promoted to senior andor supervisory positions.
Earnings for budget analysts depend on education and experience but overall the average annual salary is approximately $61500 with somewhat higher pay in the private sector.