Average Budget Analysts Salary in Maryland
Budget Analysts in Maryland command an impressive average annual salary of $106,290, significantly surpassing the national average of $95,520. This elevated compensation is largely driven by Maryland's robust economic landscape and the specialized demand for financial planning expertise within its key industries.
Executive Summary
- Average Salary: $106,290 per year.
- Growth Trend: Salaries have shifted 9.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $153,340.
- Outlook: Maryland's market for Budget Analysts appears robust, evidenced by a substantial local workforce of 2,870 professionals. The Location Quotient of 3.41 indicates a significantly higher concentration of these roles compared to the national average, suggesting strong and sustained demand for their analytical skills within the state.
Salary Overview
The average Budget Analysts in Maryland earns+11.3%above the national average.
$51.1
$2,044
$8,858
Budget Analysts Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that salaries for Budget Analysts in Maryland have experienced consistent growth over the past four years. This trend is typical for roles requiring specialized financial acumen in economically stable regions, reflecting increasing responsibilities and market value.
Budget Analysts Salary Distribution in Maryland
Career progression for Budget Analysts in Maryland typically shows a clear salary trajectory. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive experience and specialized skills can command salaries in the upper percentiles, reflecting a significant increase in earning potential as expertise deepens.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $63,730 | $30.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $79,718 | $38.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $101,420 | $48.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $132,863 | $63.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $153,340 | $73.7 |
Detailed Budget Analysts Market Analysis
Relocation Context
Nominal Salary
$106,290
Gross Pay
Real Wage (Purchasing Power)
$84,964
Adjusted for COL (125.1)
While the average nominal salary of $106,290 is attractive, Maryland's Cost of Living Index of 125.1 means that expenses are approximately 25.1% higher than the national average. Therefore, while the salary is strong, the purchasing power needs to be considered in the context of higher local living costs.
Job Market Context
2,870
Total Jobs
1.043
Per 1K Jobs
3.41
Location Quotient
Maryland has 3.4x 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.
With a Location Quotient of 3.41, Maryland exhibits a highly concentrated market for Budget Analysts, indicating that these professionals are in greater demand relative to the national distribution. This suggests a competitive environment for employers seeking talent, potentially leading to better compensation and career opportunities for analysts.
Nearby Job Markets
Nearby Cities for Budget Analysts
| City | Salary | Dist. |
|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV Budget Analysts Salary | $119,610↑ 13% | 17 mi |
| Baltimore-Columbia-Towson, MD Budget Analysts Salary | $97,770↓ 8% | 19 mi |
| Lexington Park, MD Budget Analysts Salary | $104,140↓ 2% | 59 mi |
Comparing salaries near Maryland
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Frequently Asked Questions
How much does a Budget Analysts make in Maryland?
The median annual salary for a Budget Analysts in Maryland is $106,290. This typically ranges from $63,730 for entry-level positions to $153,340 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Maryland is 11.3% higher than the national median of $95,520.
Is Maryland a lucrative place for Budget Analysts?
Yes, Maryland is a highly lucrative state for Budget Analysts.The average salary significantly exceeds the national average, and the high concentration of these roles indicates strong employer demand and competitive compensation packages.
Is Maryland a good place to live for Budget Analysts?
The Cost of Living Index in Maryland is 125.1. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Maryland?
Some top paying nearby cities include Washington-Arlington-Alexandria, DC-VA-MD-WV ($119,610) and Baltimore-Columbia-Towson, MD.
How does Maryland's average Budget Analyst salary compare to the national average?
Maryland's average annual salary for Budget Analysts is $106,290, which is notably higher than the national average of $95,520.
What does the Location Quotient of 3.41 mean for Budget Analysts in Maryland?
A Location Quotient of 3.41 signifies that Budget Analysts are 3.41 times more concentrated in Maryland than the national average, indicating a robust and in-demand job market for this profession within the state.
How does the Cost of Living in Maryland affect the Budget Analyst salary?
Maryland's Cost of Living Index is 125.1, meaning it is 25.1% more expensive to live there than the national average. This higher cost of living is a key factor contributing to the elevated salaries offered to Budget Analysts.
What is the total number of Budget Analysts employed in Maryland?
There are approximately 2,870 Budget Analysts employed within the state of Maryland, reflecting a significant professional community.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,870 employees in the Maryland area with a job density of 1.043 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Budget Analysts • Data source: BLS OEWS 2024 •Jobs in Maryland