The Average Salary of a Budget Analyst Accountant
Budget analyst accountants apply their accounting and financial analysis skills to the budgets of their organizations. Corporate analysts examine the budget to find ways to improve company operations and improve profits. In government and nonprofit organizations, budget analyst accountants help ensure the optimal allocation of financial resources in a manner consistent with the organization's mission and goals. Budget analyst accountants earn higher salaries on average than other types of accountants.
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Median Earnings
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The U.S. Bureau of Labor Statistics, which collects data on all types of occupations, reported in 2008 that budget analysts earn a median annual salary of $65,320. Salaries for the middle 50 percent of budget analysts range from $52,290 to $82,150 a year. By comparison, the bureau said accountants and auditors earn a median annual salary of $54,630, with the middle 50 percent earning between $42,520 and $71,960 a year.
Significance
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Government organizations are a significant source of employment for budget analysts. The Bureau of Labor Statistics reported that 41 percent of budget analysts work for government agencies. The bureau said budget analysts in the Federal Executive Branch earn a median salary of $70,650 a year in 2008. Analysts in other agencies of the federal government, meanwhile, earn a median annual salary of $80,456, higher than the average for all budget analyst accountants.
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Educational Institutions
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Colleges and universities, as well as elementary and secondary school systems, employ large numbers of budget analysts. Salaries in these sectors, however, trail those of analyst accountants in the federal government or corporate sector. According to the bureau, budget analysts in colleges and universities earn an average of $58,190 a year, while their counterparts in elementary and secondary schools receive $57,700 a year, on average.
Corporate Budget Analysts
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Budget analyst accountants employed by corporate management earn an average of $70,460 a year, the Bureau of Labor Statistics reported, adding that the aerospace manufacturing industry appeares to be the highest-paying employer. Budget analysts in aerospace firms receive average annual compensation of $70,830.
Considerations
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In addition to the type of employer, budget analyst accountant salaries vary with a person's education and experience. The Bureau of Labor Statistics reports that most budget analysts have degrees in accounting, finance, economics, political science and other fields, adding that the best opportunities, with the highest earning potential, exist for men and women with master's degrees.
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References
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