Budget analyst jobs are expected to increase about as fast as the average, and job prospects should generally be good, especially for applicants with a master's degree.
Employment change. Employment of budget analysts is expected to increase by 7 percent between 2006 and 2016, which is about as fast as the average for all occupations. Employment growth will be driven by the continuing demand for sound financial analysis in both the public and the private sectors.
As businesses and other organizations become more complex and specialized, budget planning and financial control will demand greater attention. In recent years, computer applications used in budget analysis have become increasingly sophisticated, allowing more data to be processed in a shorter time. As a result, budget analysts have seen their workload broadened, and they are expected to produce more than they have in the past.
Budget analysts will also continue to acquire new responsibilities in other areas, such as policy analysis and performance evaluation, which make them more important to their organizations.
Job prospects. Good job prospects are expected for budget analysts over the 2006-16 decade. Job openings should result from employment growth and from the need to replace workers who retire or leave the occupation for other reasons. Candidates with a master's degree are expected to have the best opportunities. Familiarity with spreadsheet, database, data-mining, financial-analysis, and graphics software packages also should enhance a jobseeker's prospects.
Because of the importance of financial analysis, and because financial and budget reports must be completed during all phases of the business cycle, budget analysts usually are less vulnerable to layoffs than many other types of workers.
Budget analysts held 62,000 jobs throughout private industry and government in 2006. Federal, State, and local governments are major employers, accounting for 44 percent of budget analyst jobs. Many other budget analysts worked in manufacturing; financial services; management services; professional, scientific, and technical services; and schools.
Job Zone 4 - Preparation needed
Overall Experience
A minimum of two to four years of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant needs four years of college and several years of accounting work to be considered qualified.
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Examples
Accountants, chefs and head cooks, computer programmers, historians, and police detectives.
These occupations often involve coordinating, supervising, managing, and/or training others.
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Information about career opportunities as a budget analyst may be available from your State or local employment service.
Information on careers and certification in government financial management may be obtained from:
- Association of Government Accountants, 2208 Mount Vernon Ave., Alexandria, VA 22301. Internet: http://www.agacgfm.org
Information on careers in budget analysis at the State government level may be obtained from:
- National Association of State Budget Officers, Hall of the States Building, Suite 642, 444 North Capitol St. NW., Washington, DC 20001. Internet: http://www.nasbo.org
Information on obtaining budget analyst positions with the Federal Government is available from the Office of Personnel Management through USAJOBS, the Federal Government's official employment information system. This resource for locating and applying for job opportunities can be accessed through the Internet at http://www.usajobs.opm.gov or through an interactive voice response telephone system at (703) 724-1850. This number is not toll free, and charges may result. For advice on how to find and apply for Federal jobs, see the Occupational Outlook Quarterly article "How to get a job in the Federal Government," online at http://www.bls.gov/opub/ooq/2004/summer/art01.pdf.
Sources: O*Net data version 12.0
Occupational Outlook Handbook
Department of Labor
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