Becoming a budget analyst is as simple as learning the process and applying for a job. Budget analysts play an important role in evaluating costs, sales, and revenues for a company. Combined with financial experience, professional certifications further help set budget analysts apart from their peers.
how to become a budget analyst
Budget analyst is a profession that requires an understanding of the financial requirements of a company and its work. After learning how to become a budget analyst, there are various roles you can undertake in business.
Do You Have Eyes Like a Hawk? Budget Analysts Have an Eye for Detail.
Good budget analysts have a keen eye for detail. They keep their work organized, knit together the various departmental budgets of a company or government, and trace how one budget line threads through all the rest.
To become a budget analyst, build a resume that shows an interest in budgetary work:
- Internships
- Volunteer work
- Part-time jobs
You could show your interest in budget analysis by helping with a non-profit organization’s budget, whether it is your church, civic group or community charity. Extend that experience by joining professional organizations, such as the American Association for Budget and Program Analysis (AABPA).
By building a work history that emphasizes your attention to detail, mastery of budget basics, and communication skills with peers, volunteers and superiors, you show that your interest in budget analysis is not just a momentary phase, but a sincere career pursuit.
How are Your Presentation Skills? Crow About It!
Budget analysts have to not only take in vast amounts of information, usually subjecting those numbers to software analysis, they have to report out how those thousands of budget items affect a company or municipal, state or federal government.
Being able to speak off the cuff in a compelling, interesting way about finances is not easy, and is a learned skill. A budget analyst may be called upon to explain the impact of, for example, cutting one department’s budget ten percent or reducing all department budgets by two percent.
Facility with preparing charts, presentations and talking points is essential. Budget analysts do not hide behind numbers—they explain them.
Budget Analyst Skills: Legal Eagles
Budget analysts have to comply by state and federal laws and regulations, making certain their organizations are in compliance with reporting requirements. They must stay up to date on those regulations and advise various departments on compliance.
As you can see, budget analysts must have many job skills. But how many jobs will budget analysts have?
What’s on the Horizon?
The BLS foresees a slight downward trend in available positions for budget analysts due to shrinking government budgets, but this does not mean demand for budget analysts will disappear. Highly qualified, capable employees in any profession always find a place to roost. Private industry, non-profit organizations and universities all need budget analysts.
Oddly, in times of financial constraint, the work budget analysts perform is more vital than ever. This is why, according to the BLS, their median annual salary (May, 2012) was $69,280.
Take Flight with an Accounting Degree!
The best way to start a possible career path as a budget analyst is with a strong education in accounting. Attending ECPI University year-round for our Bachelor of Science degree in Business Administration with a concentration in Accounting could help you leave the nest in only 2.5 years. Soar into your future by contacting ECPI today. It could be the Best Decision You Ever Make!
Thank you for reading! Hopefully you found some nuggets of information within this article that will help you on your quest to become a budget analyst, or on your path to improving your skills in the subject. In any case, we would love to hear from you and please feel free to leave us a comment below with any questions or comments. We’re always happy to help.
