Career and Education Opportunities for Budget Analysts in Montgomery, Alabama
If you want to be a budget analyst, the Montgomery, Alabama area offers many opportunities both for education and employment. There are currently 840 working budget analysts in Alabama; this should grow 13% to 940 working budget analysts in the state by 2016. This is not quite as good as the nation as a whole, where employment opportunities for budget analysts are expected to grow by about 15.1%. In general, budget analysts examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
Budget analysts earn about $30 hourly or $63,000 per year on average in Alabama and about $31 hourly or $65,320 per year on average nationally. Earnings for budget analysts are better than earnings in the general category of Accounting and Auditing in Alabama and better than general Accounting and Auditing category earnings nationally. People working as budget analysts can fill a number of jobs, such as: budget and policy analyst, cost accountant, and accountant.
There are twelve schools of higher education in the Montgomery area, including five within twenty-five miles of Montgomery where you can get a degree to start your career as a budget analyst. The most common level of education for budget analysts is a Bachelor's degree. You can expect to spend about four years training to become a budget analyst if you already have a high school diploma.
CAREER DESCRIPTION: Budget Analyst
In general, budget analysts examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. They also analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
Budget analysts furnish advice and technical assistance as well as cost analysis and budget preparation. They also examine budget estimates for completeness and conformance with procedures and regulations. Equally important, budget analysts have to inspect operating budgets to analyze trends affecting budget needs. They are often called upon to confer with managers to insure that budget adjustments are made in accordance with program changes. They are expected to direct the preparation of regular and special budget reports. Finally, budget analysts perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
Every day, budget analysts are expected to be able to deal with basic arithmetic problems. They need to read and understand documents and reports. It is also important that they decide how to think about problems involving math.
It is important for budget analysts to seek new ways to further optimize efficiency and increase profits. They are often called upon to interpret budget directives and establish policies for carrying out directives. They also match appropriations for specific programs with appropriations for broader programs, including items for emergency funds. They are sometimes expected to analyze monthly department budgeting and accounting reports to maintain expenditure controls. Somewhat less frequently, budget analysts are also expected to testify before examining and fund-granting authorities, clarifying and promoting the proposed budgets.
And finally, they sometimes have to perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
Like many other jobs, budget analysts must be thorough and dependable and have exceptional integrity.
Similar jobs with educational opportunities in Montgomery include:
- Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
- Business Management Analyst. Conduct organizational studies and evaluations, design systems and procedures, conduct work simplifications and measurement studies, and prepare operations and procedures manuals to assist management in operating more efficiently and effectively. Includes program analysts and management consultants.
- Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
- Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
- Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
- Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
- Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
- Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
- Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
- Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
EDUCATIONAL OPPORTUNITIES: Budget Analyst Training
South University-Montgomery - Montgomery, AL
South University-Montgomery, 5355 Vaughn Road, Montgomery, AL 36116-1120. South University-Montgomery is a small university located in Montgomery, Alabama. It is a private for-profit school with primarily 4-year or above programs. It has 576 students and an admission rate of 90%. South University-Montgomery has an associate's degree program in Accounting which graduated one student in 2008.
Huntingdon College - Montgomery, AL
Huntingdon College, 1500 East Fairview Avenue, Montgomery, AL 36106-2148. Huntingdon College is a small college located in Montgomery, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,076 students and an admission rate of 65%. Huntingdon College has a bachelor's degree program in Accounting which graduated two students in 2008.
Alabama State University - Montgomery, AL
Alabama State University, 915 S Jackson Street, Montgomery, AL 36101-0271. Alabama State University is a medium sized university located in Montgomery, Alabama. It is a public school with primarily 4-year or above programs. It has 5,695 students and an admission rate of 42%. Alabama State University has 2 areas of study related to Budget Analyst. They are:
- Accounting, bachelor's degree and master's degree which graduated fourteen and six students respectively in 2008.
- Finance, bachelor's degree which graduated 11 students in 2008.
Auburn University-Montgomery - Montgomery, AL
Auburn University-Montgomery, 7440 East Drive, Montgomery, AL 36117-3596. Auburn University-Montgomery is a medium sized university located in Montgomery, Alabama. It is a public school with primarily 4-year or above programs. It has 5,248 students and an admission rate of 91%. Auburn University-Montgomery has 2 areas of study related to Budget Analyst. They are:
- Accounting, bachelor's degree which graduated 47 students in 2008.
- Finance, bachelor's degree which graduated 2 students in 2008.
Tuskegee University - Tuskegee, AL
Tuskegee University, Kresge Center, 3rd Floor, Tuskegee, AL 36088-1920. Tuskegee University is a small university located in Tuskegee, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,973 students and an admission rate of 59%. Tuskegee University has 2 areas of study related to Budget Analyst. They are:
- Accounting, bachelor's degree which graduated 1 student in 2008.
- Finance, bachelor's degree which graduated 2 students in 2008.
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LOCATION INFORMATION: Montgomery, Alabama
Montgomery is situated in Montgomery County, Alabama. It has a population of over 202,696, which has grown by 0.6% over the last ten years. The cost of living index in Montgomery, 83, is well below the national average. New single-family homes in Montgomery are valued at $129,500 on average, which is well below the state average. In 2008, two hundred seventy-eight new homes were built in Montgomery, down from six hundred nineteen the previous year.
The three most popular industries for women in Montgomery are health care, educational services, and public administration. For men, it is public administration, construction, and educational services. The average travel time to work is about 20 minutes. More than 29.4% of Montgomery residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 11.3%, is higher than the state average.
The unemployment rate in Montgomery is 10.1%, which is less than Alabama's average of 10.7%.
The percentage of Montgomery residents that are affiliated with a religious congregation, 50.6%, is more than the national average but less than the state average. Big Roxanna Church, William African Methodist Episcopal Zion Chapel and Whitfield Memorial United Methodist Church are some of the churches located in Montgomery. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Churches of Christ.
Montgomery is home to the Montgomery Public Library and the Booker T Washington Community Center as well as Old Selma Road Park and Montgomery East Exchange Park. Shopping centers in the area include Montgomery East Plaza Shopping Center, Montgomery Mall Shopping Center and Norman Bridge South Shopping Center. Visitors to Montgomery can choose from Relax Inn, Islander and Towne Place Suites by Marriott for temporary stays in the area.