Anyone who finds it interesting to assist others with organizing their finances may be well suited to a career as a budget analyst. There are several important prerequisites for this career path; these include the right education and the right personal qualifications. In some cases, professional certifications and location are also important. Let’s take an in-depth look at how to become a budget analyst.
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Academic Credentials
Academic credentials are one of the most important qualifying criteria employers look at when hiring budget analysts. Typically, employers seek budget analyst candidates who hold at least a bachelor’s degree, preferably in a field that relates to financial planning in some capacity. Some acceptable major courses of study can include governmental budgeting, finance, accounting, public administration, business administration, economics, and statistics. Employers in this field typically want to see proof of applicants’ academic credentials via official transcripts.
Budget Analyst Certifications
Career experts at the Bureau of Labor Statistics point out that the Association of Government Accountants offers a certification program that some government-employed budget analysts may find valuable. This certification is only available to professionals who have been working for the government in a financial management capacity. The certification requires ongoing maintenance.
Professional Skills and Qualifications
Financial and Mathematical Expertise — Strong reconciliation abilities, mathematical abilities and analytical skills are absolutely essential for success in this type of position. Most analyst jobs require expert knowledge of generally accepted accounting principles. Some employers may also require an understanding of grants and how they work.
Computer Expertise — Knowledge of the Microsoft Office suite of software products is often an important requirement for employment as a budget analyst. The professional in this role must typically be capable of utilizing spreadsheets, database software and financial analysis software or specialized financial analysis applications. Some employers may require the budget analyst to use and understand the company’s internal billing systems or related software.
Clear Communication and Interpersonal Skills — Budget analysts will need to explain and most likely also defend the budgetary recommendations they make to their bosses and other team members. With this in mind, they need to be decisive. They also need to possess the ability to communicate clearly, concisely and calmly. Writing ability is also a crucial contributing factor to their success on the job.
Best Location for Becoming a Budget Analyst
Budget analysts are needed in most areas of the United States, so this is an occupation that does not require a candidate to live in any specific location. There is one location that stands out as being the best place to live for anyone who wants to become a budget analyst: the District of Columbia. According to the career experts at the BLS, the federal government employs a high concentration of budget analysts. The majority of the federal government’s infrastructure is located within the Washington, D.C. area, so there are proportionally high numbers of budget analysts employed in the area.
Anyone who wants to pursue a budget analyst career should consider earning their bachelor’s degree in a related field, honing their computer skills, sharpening their communication skills and earning their certification if it’s appropriate. These are the most important qualifications for becoming a budget analyst.
