22 Key Attributes Budget Analysts Need To Succeed In Their Career

by Jacob Brown

Tuesday, August 25, 2015

Budget analysts examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.

The core tasks that budget analysts are likely to carry out include:

Direct the preparation of regular and special budget reports.
Analyze monthly department budgeting and accounting reports to maintain expenditure controls.
Provide advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.
Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
Summarize budgets and submit recommendations for the approval or disapproval of funds requests.
Review operating budgets to analyze trends affecting budget needs.

In order to successfully forge ahead with their careers, analysts in a survey carried out by U.S. Department of Labor (via O*NET) have marked out the following as important attributes that budget analysts would need. These attributes have been selected from characteristics and requirements strongly associated with the occupation. They are

Abilities: Enduring attributes of the individual that influence performance
Interests: Preferences for work environments. Occupational Interest Profiles (OIPs) are compatible with Holland's (1985, 1997) model of personality types and work environments. Six interest categories are used to describe the work environment of occupations: Realistic, Investigative, Artistic, Social, Enterprising, and Conventional. An OIP consists of six numerical scores indicating how descriptive and characteristic each work environment (or interest area) is for an occupation
Knowledge: Organized sets of principles and facts applying in general domains
Skills: These include basic skills, which are developed capacities that facilitate learning or the more rapid acquisition of knowledge. Plus cross-functional skills, which are developed capacities that facilitate performance of activities that occur across jobs
Style: Personal characteristics that can affect how well someone performs a job

We have listed out attributes which were scored 80% or more in terms of importance by the analysts.

Having a strong preference for conventional work environments. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Attribute Type: Interests Score: 100%

Being careful about detail and thorough in completing work tasks.
Attribute Type: Style Score: 97.8%

Being honest and ethical.
Attribute Type: Style Score: 92.6%

Being reliable, responsible, and dependable, and fulfilling obligations.
Attribute Type: Style Score: 91.2%

Analyzing information and using logic to address work-related issues and problems.
Attribute Type: Style Score: 91.2%

Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Attribute Type: Knowledge Score: 88.2%

Being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Attribute Type: Style Score: 87.4%

A willingness to take on responsibilities and challenges.
Attribute Type: Style Score: 83.8%

Persistence in the face of obstacles.
Attribute Type: Style Score: 83.4%

Developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
Attribute Type: Style Score: 83%

The ability to read and understand information and ideas presented in writing.
Attribute Type: Abilities Score: 82.4%

The ability to choose the right mathematical methods or formulas to solve a problem.
Attribute Type: Abilities Score: 82.4%

The ability to add, subtract, multiply, or divide quickly and correctly.
Attribute Type: Abilities Score: 82.4%

Accepting criticism and dealing calmly and effectively with high stress situations.
Attribute Type: Style Score: 81.8%

Establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Attribute Type: Style Score: 81.6%

Having a strong preference for enterprising work environments. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Attribute Type: Interests Score: 81%

Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Attribute Type: Knowledge Score: 81%

A willingness to lead, take charge, and offer opinions and direction.
Attribute Type: Style Score: 80.6%

Being open to change (positive or negative) and to considerable variety in the workplace.
Attribute Type: Style Score: 80.6%

Maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Attribute Type: Style Score: 80.2%

Understanding written sentences and paragraphs in work related documents.
Attribute Type: Skills Score: 80%

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Attribute Type: Skills Score: 80%