Budget Manager Salary
With just below three-fifths of Budget Managers in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Budget Managers is $71K per year and can range from $43K on the lower end to $110K per year near the higher end. Geography and career length each impact pay for this group, with the former having the largest influence. The majority of Budget Managers (69 percent) who took the survey are women. The majority of workers are highly satisfied with their job. Almost all enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. The data for this synopsis comes from respondents who took the PayScale salary survey.
|Salary||$48,216 - $109,334|
|Bonus||$0.00 - $14,795|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$42,683 - $110,172|
|Hourly Rate||$10.82 - $39.73|
|Bonus||$0.00 - $14,795|
|Total Pay (||$42,683 - $110,172|
Job Description for Budget Manager
The role of a budget manager is essential in organizations of all sizes. They are the people who control incomes and spending patterns throughout each financial year, deal the government's tax and rebate systems, and provide payroll support for all employees of the organization. The position requires a good head for numbers and the ability to use multiple types of financial software and, in some cases (especially in larger organizations), the role may include leading a team of financial analyzers.Read More...
Budget managers spend most of their time in an office environment and the majority of their work is done independently. Occasionally, they will need to attend meetings to provide financial updates and receive directions regarding the overall financial goals of the organization.
Due to the independent nature of most budget manager positions, employers generally prefer applicants with excellent computer and problem-solving skills over those with high social skills. However, these managers will need to produce reports for upper-level managers and collect information from other departments, so a certain ability work well with others is necessary.
It is difficult to get into the field of budget management without a string of qualifications. The most basic is a Bachelor's degree in Finance or Accounting, and further pay grades are available to those who are recognized accountants. Most employers search for those with long histories of financial management success and strong knowledge and skills in financial software. Finally, successful candidates should demonstrate the abilities to manage their time effectively, meet all deadlines, and dealing with multiple calls simultaneously.
Budget Manager Tasks
- Manages day-to-day operation of budget unit staff and gives technical direction.
- Ensures internal processes are in compliance with state and federal standards and regulations.
- Monitors the preparation of budgets for departments based on performance, revenue, and expenses.
- Oversees expenditures to ensure compliance within operational and capital budget limits.
- Informs management regarding budgeting systems, policies and procedures and projections.
Budget Manager Job Listings
Popular Skills for Budget Manager
Survey results suggest that Budget Managers use a fairly large toolkit of professional skills. Most notably, skills in Financial Analysis, Budgeting, Budget Management, and Project Management are correlated to pay that is above average. Skills that pay less than market rate include Microsoft Excel, Accounting, and Financial Reporting. Those proficient in Budget Management are, more often than not, also skilled in Budgeting.
Pay by Experience Level for Budget Manager
Pay by Experience for a Budget Manager has a positive trend. An entry-level Budget Manager with less than 5 years of experience can expect to earn an average total compensation of $60,000 based on 58 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Budget Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $72,000 based on 76 salaries. An experienced Budget Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $75,000 based on 78 salaries. A Budget Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $79,000 based on 34 salaries.
Pay Difference by Location
Budget Managers will find that Houston offers an impressive pay rate, one which exceeds the national average by 37 percent. Budget Managers will also find cushy salaries in Washington (+34 percent), Chicago (+23 percent), Boston (+10 percent), and Atlanta (+9 percent). Budget Managers in Northampton report much lower salaries than the rest of the country — 27 percent below the national average — proving that residence is a major factor in overall pay. Workers in Sioux City and New York earn salaries that trail the national average for those in this profession (13 percent less and 1 percent less, respectively).
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