Budget Analyst Salary Guide

Updated September 26, 2022 · 6 Min Read

Learn about budget analyst salaries and career opportunities. See how education and location can impact how much budget analysts make.

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Budget analysts review financial budgets. They look for ways to improve spending so organizations can use available funds to meet their objectives.

The budget analyst profession may be a good fit for detail-oriented, analytical people that are good with numbers. The Bureau of Labor Statistics (BLS) reports that budget analysts earn a median salary of $79,940, higher than the median average salary of all occupations. Budget analysts in the top 90th percentile earn $124,440.

Continue reading to explore in-depth potential salary and job prospects for budget analysts.

How Much Do Budget Analysts Make?

According to the BLS, budget analysts earn annual salaries of $49,330-$124,440, with a median salary of $79,940. Salary potential depends on location, employer, relevant experience, and education level.

Like professionals in many fields, budget analysts may earn pay increases as they progress from entry-level positions to more advanced roles. Many budget analysis professionals receive salary raises as they gain knowledge, skills, and professional experience. Compensation may also vary based on the industry.

Budget Analysts


Median Annual Salary, May 2021

$79,940

Source: Bureau of Labor Statistics

Salary by Education

Budget analyst salaries can vary based on the job seeker’s education level. Most employers require budget analysts to have a bachelor's degree. Majoring in accounting, economics, finance or business can help candidates obtain budget analyst positions. Having a master’s degree in a relevant field and experience can lead to higher salaries and management-level opportunities.

A specific breakdown of budget analyst salaries by education level is not available. However, since most budget analysts study accounting or related fields, the average salary of graduates in these degree majors can provide insight into potential salaries for budget analysts.

Gaining advanced education and credentials may increase a budget analyst’s earning potential. However, pursuing a graduate degree can be expensive. Those interested in becoming budget analysts may want to explore professional certifications such as certified government financial manager (CGFM). Some professionals also earn CPA certification to improve employment opportunities.

Salary by Experience

Budget analyst salaries typically increase with experience. The most dramatic increase in compensation often comes during the transition from early career to mid career. Good job performance may lead to bonuses, promotional opportunities, and additional benefits from employers. However, income can continue to shift during a budget analyst’s career.

Salary by Location

Budget analysts' salaries vary by geographic location. Professionals earn the highest average salaries in the District of Columbia, Maryland, and Virginia. New Jersey and California also offer high salaries to budget analysts.

Many of the higher-paying states for budget analysts also have a higher cost of living. It is best to take local housing costs into consideration when comparing salaries across multiple states. Some of the regions on this list such as New Jersey and California have some of the highest costs of living, according to this 2022 Forbes article.

Top-Paying States for Budget Analysts, 2021
State Number of Budget Analysts Employed Average Annual Salary

District of Columbia

1,940

$106,380

Maryland

2,040

$99,670

Virginia

2,790

$94,950

New Jersey

1,030

$94,750

California

4,570

$93,400

Source: BLS

Top-Paying Metropolitan Areas for Budget Analysts, 2021
Metropolitan Area Number of Budget Analysts Employed Average Annual Salary

San Jose-Sunnyvale-Santa Clara, CA

350

$114,670

Iowa City, IA

40

$108,870

Washington-Arlington-Alexandria, DC-VA-MD-WV

4,380

$106,380

Huntsville, AL

510

$102,120

Birmingham-Hoover, AL

90

$101,030

Source: BLS

Where Should I Work as a Budget Analyst?

The demand for budget analysts is slowly increasing. The BLS projects a job growth rate of 5% between 2020 and 2030. This is lower than the average growth for all occupations but still indicates that some new roles will become available.

Employment options for budget analysts can vary based on location, industry, experience, and education level. Budget analysts are in high demand in the federal government, with job opportunities centered in the Washington, D.C. area.

Budget Analysts


Change in Projected Employment from 2020-2030

5%

Source: BLS

Best Areas

Budget analysts can find jobs in many states and regions. Some of the top states for budget analysts are Texas, California, New York, Florida, and Virginia.

Many budget analysts work in government, particularly the federal government. Because of this, budget analyst jobs are more widely available near Washington, D.C. or state capitals. Job seekers may have greater difficulty finding available budget analyst positions in rural areas.

Remote work opportunities are increasing across all industries and job roles, reports Forbes. As such, location is not always the determining factor when it comes to budget analyst job availability. However, remote work may be more widely available for budget analysts in the private sector.

Top-Employing States for Budget Analysts, 2021
State Number of Budget Analysts Employed Average Annual Salary

Texas

5,090

$77,030

California

4,570

$93,400

New York

3,190

$93,180

Florida

2,820

$73,840

Virginia

2,790

$94,950

Source: BLS

States With the Greatest Projected Increase in Employment for Budget Analysts, 2020-30
State Percent Projected Change, 2020-30 Average Annual Openings

Greatest Projected Percentage Increase

Utah

24%

50

Colorado

14%

100

New York

14%

360

Vermont

14%

10

Nevada

12%

20

Most Projected Average Annual Openings

California

8%

570

Texas

11%

410

New York

14%

360

Maryland

7%

340

Florida

9%

300

Source: O*NET

Top-Employing Metropolitan Areas for Budget Analysts, 2021
Metropolitan Area Number of Budget Analysts Employed Average Annual Salary

Washington-Arlington-Alexandria, DC-VA-MD-WV

4,380

$106,380

New York-Newark-Jersey City, NY-NJ-PA

2,620

$100,420

Los Angeles-Long Beach-Anaheim, CA

1,400

$98,640

Boston-Cambridge-Nashua, MA-NH

1,220

$92,500

Miami-Fort Lauderdale-West Palm Beach, FL

1,050

$72,920

Source: BLS

Best Industries

Budget analysts can work in diverse industries. Many budget analysts work for government offices at various levels or other public sector industries. However, there are also plenty of well-playing private sector roles as well.

The top-employing industry for budget analysts is the public sector. Federal, state, and local government agencies employ the largest number of budget analysts, according to the BLS. The federal executive branch is the top employer of budget analysts.

Private sector roles are less widely available but may offer higher salaries. Budget analysts working in industries such as natural gas distribution or travel accommodation can earn six-figure salaries. But, candidates may face more competition due to the lower number of jobs available in these sectors.

Top-Paying Industries for Budget Analysts, 2021
Industry Number of Budget Analysts Employed Average Annual Salary

Natural Gas Distribution

40

$120,430

Grantmaking and Giving Services

140

$112,770

Traveler Accommodation

540

$106,670

Data Processing, Hosting, and Related Services

100

$106,260

Support Activities for Air Transportation

50

$102,880

Source: BLS

Top-Employing Industries for Budget Analysts, 2021
Industry Number of Budget Analysts Employed Average Annual Salary

Federal Executive Branch (OES Designation)

11,480

$90,830

State Government, excluding schools and hospitals (OES Designation)

5,430

$76,430

Local Government, excluding schools and hospitals (OES Designation)

5,300

$80,190

Colleges, Universities, and Professional Schools

3,440

$72,670

Management of Companies and Enterprises

3,170

$87,480

Source: BLS

Questions About Budget Analyst Salary


What is the median salary of a budget analyst?

According to the BLS, the median salary for a budget analyst is $79,940 per year.

What are the highest-paying budget analyst jobs?

The highest-paying budget analyst jobs are in the natural gas distribution industry, where professionals can earn six-figure salaries.

Where is the best state to work as a budget analyst?

The best area for budget analysts to work is the DC metropolitan area. The District of Columbia, Virginia, and Maryland are the best states and territories to work in for budget analysts.

What is the best industry to work in as a budget analyst?

Top industries for budget analysts vary by a candidate’s qualifications and geographic preferences. The natural gas distribution industry is the best for budget analysts in terms of compensation. The federal government is the best industry for budget analysts in terms of job availability.

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