Budget Analyst Job Description and Profile
A Budget Analyst is a key employee in a company for they play a very important role. They have the duty of creating and maintaining the financial budget plan, both the short term and long-term, for the company they are associated with keeping different factors in mind.
A budget analyst needs to focus on the development and the correct implementation of the budget plans. Consolidation of the budgets is a big task which is carried by the analyst. They can work for the government, private agencies, individuals etc.
Budget Analyst Duties and Responsibilities
- Contacting clients periodically to take notice of their financial status that is necessary for making budget plans.
- Contacting clients’ creditors for arranging the payment adjustment in such a manner which suits the clients and creditors most.
- Analyzing the monthly department accounting and budgeting reports for maintaining expenditure controls.
- Directing the preparation of both the regular and special type of budget reports.
- Consulting with the managers for ensuring that the budget adjustments have been in accordance with the program changes.
- Providing advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.
- Summarizing budgets and submitting recommendations for both the approval and disapproval of funds requests.
- Seeking new ways of improving efficiency and increasing profits.
- Reviewing operating budget for analyzing the trends which affect budget needs.
- Examining budget estimates for the completeness, conformance, accuracy with policies and regulations.
Budget Analyst Education, Training and Qualifications
Bachelor’s or Master’s degree in any finance related discipline is absolutely imperative. A number of specialization courses available can be taken in order to do well in this field and rise to the position of senior budget analyst.
Budget Analyst Degrees, Courses & Certification
Various courses are available on accounting, budget management techniques etc which can be taken for increased knowledge of this field. Often many professionals earn many job specific courses on budgeting to earn an extra edge.
Budget Analyst Skills and Specifications
- Strong written and verbal communication skills
- Good degree of knowledge about budgeting options and methods
- Knowledge about the recent trends in economic conditions
- Good mathematical and statistical skills
- Ability to understand the condition and need of the clients
Budget Analyst Salary/Wage
The salary of Budget Analyst is about $50,000 per year on average. Since this field being extremely promising and lucrative, a professional working here can expect his/ her salary rise to a great level with increased experience.