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Degrees and Schools
Some of the common degrees for budget analysts are finance, accounting, business, statistics and economics. Many colleges and universities offer degrees in these subjects.
Budget analysts working for federal, state or local agencies may earn the Certified Government Financial Manager designation, provided by the Advancing of Government Accountability organization.
Classes
Some of the subjects studied are shown below:
- Finance
- Accounting
- Business
- Statistics
- Economics
- Public administration
- Political science
Online Classes and Programs
Many accredited schools offer online programs in finance, accounting, business, statistics and economics. Online programs offer convenience and flexibility.
Employment Requirements
Employers typically require budget analysts to have at least a bachelor's degree. Some employers prefer or require budget analysts to have a master's degree. A bachelor's degree is typically adequate for an entry-level budget analyst job in the federal government.
A solid foundation with databases, spreadsheets, data mining and financial analysis is beneficial for those seeking a job as a budget analyst.
Some of the major employment sectors are the federal government, businesses, colleges, universities and professional schools, and nonprofit organizations.
How to Evaluate Schools and Programs
Students should consider getting answers to the following questions:
- School's Reputation - Does the school have a good reputation?
- Training - Does the program include externships? Do students have to find their own externship?
- Curriculum - Can students specialize in their area of interest?
- Job Placement - Does the school provide job placement services? Does the school provide job fairs?
- Financial Aid - What types of financial aid are available? Has the school been approved to provide federal financial aid?
- Accreditation - Has the school been provided accreditation by an agency which has been approved by the United States Department of Education or the Council for Higher Education?
Budget Analysts Job Description
Budget analysts have the important challenge of determining how to efficiently distribute financial resources in an organization. The main responsibility of a budget analyst working for a private sector firm is to evaluate the company's budget and find new ways to improve efficiency and increase profits.
Budget analysts create, evaluate and execute budgets. They also estimate the future financial needs for companies, government agencies and nonprofit organizations. They use databases, spreadsheets and financial analysis software to improve their understanding of budgeting options and to provide accurate, current information to managers.
Some of their responsibilities are shown below:
- Participate in program performance evaluations
- Analyze policies
- Conduct training sessions regarding new budget procedures
- Review operational and financial proposals submitted by managers and department heads
- Research financial and economic development that affect income and expenditures
- Review proposed budget with top managers
- Periodically monitor the budget throughout the year
Resources
- National Association of State Budget Officers
- Advancing of Government Accountability organization.
- American Association for Budget and Program Analysis
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