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Average Budget Analysts Salary in Albany-Schenectady-Troy, NY

Budget Analysts in the Albany-Schenectady-Troy, NY area earn an average annual salary of $82,020. This figure is notably below the national average of $95,520, suggesting that local market dynamics and potentially regional economic factors influence compensation for this role. Understanding these local pay scales is crucial for financial professionals operating within this specific metropolitan area.

Executive Summary

  • Average Salary: $82,020 per year.
  • Growth Trend: Salaries have shifted 12.4% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $103,340.
  • Outlook: The Albany-Schenectady-Troy region supports a robust local workforce of 580 Budget Analysts, indicating a significant presence of these professionals. With a Location Quotient of 4.26, the concentration of Budget Analysts is more than four times the national average, pointing to a strong demand and a specialized market for these roles within the area.
2024 Market Data

Salary Overview

$82,020

The average Budget Analysts in Albany-Schenectady-Troy, NY earns-14.1%below the national average.

BreakdownBased on 40h/week
Hourly

$39.4

Weekly

$1,577

Monthly

$6,835

Budget Analysts Salary Distribution in Albany-Schenectady-Troy, NY

Salary progression for Budget Analysts typically scales with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with extensive experience and specialized skills can command salaries in the higher percentiles. The gap between entry-level and senior roles signifies significant career advancement opportunities and increased earning potential within the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$53,470$25.7
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$61,515$29.6
ManagerOversees team, compliance, and project delivery.50% (Median)$80,910$38.9
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$102,525$49.3
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$103,340$49.7

Detailed Budget Analysts Market Analysis

Relocation Context

Nominal Salary

$82,020

Gross Pay

Real Wage (Purchasing Power)

$82,020

Adjusted for COL (100)

The average annual salary of $82,020 in Albany-Schenectady-Troy aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary holds its purchasing power directly against the national standard, offering a stable financial footing for Budget Analysts residing in the area.

Job Market Context

580

Total Jobs

1.305

Per 1K Jobs

4.26

Location Quotient

Major Hub

Albany-Schenectady-Troy, NY has 4.3x the national concentration of Budget Analysts jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.

The exceptionally high Location Quotient of 4.26 for Budget Analysts in Albany-Schenectady-Troy signifies a highly concentrated job market. This suggests that while there is a strong demand and a deep pool of talent, the market may be more competitive for new entrants, but offers significant opportunities for experienced professionals within this specialized sector.

Nearby Job Markets

Nearby Cities for Budget Analysts

CitySalaryDist.
Central East New York nonmetropolitan area Budget Analysts Salary$76,860↓ 6%68 mi

Comparing salaries near Albany-Schenectady-Troy, NY

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Frequently Asked Questions

How much does a Budget Analysts make in Albany-Schenectady-Troy, NY?

The median annual salary for a Budget Analysts in Albany-Schenectady-Troy, NY is $82,020. This typically ranges from $53,470 for entry-level positions to $103,340 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Albany-Schenectady-Troy, NY is 14.1% lower than the national median of $95,520.

Is Albany-Schenectady-Troy, NY a lucrative place for Budget Analysts?

Yes, but with nuances.While the average salary of $82,020 is below the national average, the high concentration of jobs (LQ 4.26) and a cost of living at the national average indicate a stable and specialized market.

Is Albany-Schenectady-Troy, NY a good place to live for Budget Analysts?

The Cost of Living Index in Albany-Schenectady-Troy, NY is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Albany-Schenectady-Troy, NY?

Some top paying nearby cities include Central East New York nonmetropolitan area ($76,860) and others.

How does the local salary compare to the national average?

The average salary for Budget Analysts in Albany-Schenectady-Troy is $82,020, which is lower than the national average of $95,520.

What does the Location Quotient of 4.26 mean for Budget Analysts?

A Location Quotient of 4.26 indicates that Budget Analysts are more than four times more concentrated in Albany-Schenectady-Troy than the national average, suggesting a specialized and robust local job market for this profession.

How does the cost of living affect the Budget Analyst salary in Albany?

With a Cost of Living Index of 100, the national average, the $82,020 salary in Albany-Schenectady-Troy has purchasing power equivalent to the national average, making it a stable financial environment.

What is the total number of Budget Analysts in the Albany-Schenectady-Troy area?

There are approximately 580 Budget Analysts employed within the Albany-Schenectady-Troy metropolitan area.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 580 employees in the Albany-Schenectady-Troy, NY area with a job density of 1.305 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Top Jobs in Albany-Schenectady-Troy, NY

Semantic Salary Analysis for Budget Analysts • Data source: BLS OEWS 2024 •Jobs in Albany-Schenectady-Troy, NY