What Is a Budget Analyst and How to Become One
Table of Contents
What Does a Budget Analyst Do?
Budget analysts review budgets and suggest improvements that could lead to greater efficiency and higher profits for a company or organization. As a budget analyst, your responsibilities may include evaluating an annual budget and finding areas to cut operational costs and reduce expenditures. You may help the accounting department create a budget model and systems to check for inaccuracies. In some positions, a budget analyst may ensure that an organization meets financial reporting and records regulations. Budget analysts may work for companies as well as government agencies and nonprofits.
How Can I Become a Budget Analyst?
The qualifications you need to work as a budget analyst include a bachelor’s degree in accounting, finance, or a related field. Senior analyst positions may require a master’s degree in accounting. Some employers prefer applicants with CPA accreditation. In addition to accounting skills, you need to be able to communicate budget-related findings and suggestions to senior-level management and executives. You should also have strong attention to detail and written and verbal communication skills.
Budget Analyst Job Description Sample
With this Budget Analyst job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Budget Analyst role.
We are seeking a qualified, motivated bookkeeping professional to join our company as a Budget Analyst. As part of our team, you compile budgetary data, produce clear budget reporting documents, and make incisive recommendations to reduce waste and support overall business objectives. Your analysis is a crucial piece of achieving larger financial obligations and objectives, necessitating superb attention to detail and analytical skills. Our ideal candidate has prior experience with budget management, forecasting, compliance, and financial reporting.
Duties and Responsibilities
- Gather and review budgetary data from a diverse array of teams and projects
- Produce reports, analysis, and recommendations based on confirmed data and administrative theory
- Present reports to executive leadership and stakeholders
- Ensure regulatory compliance of all company budgets and reporting
Requirements and Qualifications
- Bachelor's degree in business administration or similar (preferred)
- Prior experience as a financial analyst, budget analyst, or similar
- Superb analytical ability, especially regarding large and complex systems
- Thorough knowledge of federal and state financial regulatory requirements
- Strong communication skills