Budget Director Salary
Earnings for Budget Directors in the United States come in at around $85K annually on average. Location is the biggest factor affecting pay for this group, followed by years of experience. The majority of workers are highly satisfied with their job. Nearly all report receiving medical coverage from their employers and most collect dental insurance. This overview is based on answers to PayScale's salary questionnaire.
|Salary||$60,406 - $128,899|
|Bonus||$-0.50 - $29,361|
|Total Pay (||$60,457 - $131,459|
Job Description for Budget Director
Budget directors are responsible for overseeing how budgets are implemented within an organization and attempt to balance the budget or even create a surplus. These directors are often given given budget proposals from various departments to be analyzed and approved prior to being dispersed, and they may occasionally decide which programs should be prioritized. Trends may also be analyzed in order to determine where changes can be made to ease spending.Read More...
When budget cuts must be made, forecast scenarios should be created to analyze the effects that these cuts may have. Budgets and spending should be reviewed and monitored, usually on a quarterly basis, and the budget director is also responsible for documentation relating to budgets, such as budget support documents and quarterly reports. General policies relating to budget spending may also be created and implemented by the budget director, along with budget goals, so problem-solving skills are important in this position. Budget directors should also be able to multitask and respond to requests quickly. Much of the work is done independently, but teamwork is also important in order to analyze situations and work toward solutions.
A bachelor's degree in accounting, finance, business public administration, or a related field is a minimum requirement for this advanced position, and many years of experience in budget management are also necessary. Proficiency with Microsoft Office programs such as Excel, PowerPoint, and Access is also expected.
Budget Director Tasks
- Establish budget and ensure adherence to yearly financial targets.
- Direct daily activities and goals of the financial team.
- Project manage important ventures while keeping to schedule and monetary restrictions.
- Develop and recommend plans for fiscal success based on data analysis.
Popular Skills for Budget Director
Budget Directors only report a few specific skills. Fortunate workers who know Budgeting can expect a significant pay bump, scoring salaries 28 percent above average. Those listing Accounting as a skill should be prepared for drastically lower pay. Aptitude in Budget Management tends to also indicate an understanding of Financial Analysis.
Pay by Experience Level for Budget Director
Pay by Experience for a Budget Director has a positive trend. An entry-level Budget Director with less than 5 years of experience can expect to earn an average total compensation of $72,000 based on 19 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Budget Director with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $77,000 based on 32 salaries. An experienced Budget Director which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $88,000 based on 43 salaries. A Budget Director with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $117,000 based on 19 salaries.
Pay Difference by Location
Boston offers some of the highest pay in the country for Budget Directors, 55 percent above the national average. Budget Directors in Nassau take home the lowest salaries, earning a whopping 32 percent less than the national average.
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Key Stats for Budget Director
Rated 5 out of 5
based on 16 votes.