Budget analysis is considered as the most important procedure in an organization or a company concerned with successfully allocating the financial resources. Budget analysts are the professionals who carry out this allocation process in their company or organization. These people create, investigate and execute the budgets that are used to allocate current sources and also to estimate the future financial needs.

They entirely focus on the company’s budget and its related components to look into how it can be developed and streamlined. They also suggest the diverse funding plans in order to meet the financial needs of a firm. Some of the budget analysts are involved in the policy analysis, creating budget-related legislation, performance assessment and organizing training sessions on new budget process. Budget analysts are usually employed in non-profit, organizations, government departments and some private businesses. In private companies, a budget analyst’s duty is to evaluate the budget and apply the new methods to improve the effectiveness and increase the profit. Whereas in government departments and non-profit organizations, their responsibility is not concerned with the profit, they should find the most efficient ways to allocate funds and other resources.

Qualifying Exam

Candidates interested in this field should at least hold a bachelor’s degree to get the entry level jobs. Most of the employers recruit candidates with master’s degree for the Budget analyst job. One can enter in this field by pursuing the bachelor’s degree in any of the related subjects such as accounting, finance, business economics, statistics or political sciences. A number of universities in the country offer these finance related courses. But some of the firms require candidates with qualification in business management for this post.

Who is eligible to apply?

One can apply for the bachelor’s degree programme in accounting, finance, business economics, statistics or political sciences after successfully completing their higher secondary education from a reputed school. With this undergraduate qualification, students can apply for the entry level jobs in the finance field to get an exposure. They can join for the master’s degree course in the same field or business management after pursuing their bachelor’s degree.

Key points in the process

• Study 10+2 with mathematics or statistics from a reputed institution and pass the examinations with good marks.
• Pursue the bachelor’s degree in finance, accounting, political sciences or statistics from a recognized university.
• Gain experience by working with any firms which recruit candidates for the entry level jobs in the financial field.
• Obtain the master’s degree in the same field or a business degree from a recognized university.
• Search out for the Business analysts jobs and apply for it.

Skills required for a Budget analyst

Those individuals who are interested in the finance and business field can become budget analysts after acquiring the formal education and training. For this kind of jobs, they need some extra ordinary skills to perform well. They need a strong basis in the mathematics and should have good problem solving ability. They must strictly follow the ethical standards and principles and also should be able to handle their duty under stressful situations.