Average Budget Analysts Salary in New York-Newark-Jersey City, NY-NJ
Budget Analysts in the New York-Newark-Jersey City, NY-NJ metropolitan area earn an impressive average annual salary of $100,640. This figure significantly surpasses the national average of $95,520, indicating a premium placed on financial analysis expertise within this dynamic economic hub. The robust demand and specialized skill requirements in this high-cost region likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $100,640 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $140,930.
- Outlook: With a local workforce of 1,890 Budget Analysts, the New York-Newark-Jersey City area demonstrates a substantial presence in this field. The Location Quotient of 0.66 suggests that while the concentration is slightly below the national average, the sheer volume of professionals indicates a stable and active job market. The presence of 0.202 jobs per 1,000 workers further underscores consistent opportunities for skilled Budget Analysts.
Salary Overview
The average Budget Analysts in New York-Newark-Jersey City, NY-NJ earns+5.4%above the national average.
$48.4
$1,935
$8,387
Budget Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Budget Analysts in New York-Newark-Jersey City have experienced steady growth over the past four years. Economic fluctuations and evolving financial landscapes typically drive an upward trend in compensation for analytical roles, especially in major metropolitan areas that are centers of commerce and finance.
Budget Analysts Salary Distribution in New York-Newark-Jersey City, NY-NJ
The career trajectory for Budget Analysts typically involves significant salary progression with experience. Entry-level positions may start at a lower percentile, but as professionals gain expertise in financial modeling, forecasting, and strategic planning, their earning potential increases substantially. The gap between entry-level and senior-level salaries reflects the increasing value and responsibility associated with seasoned financial analysts.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $65,380 | $31.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $75,480 | $36.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $97,740 | $47 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $125,800 | $60.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $140,930 | $67.8 |
Detailed Budget Analysts Market Analysis
Relocation Context
Nominal Salary
$100,640
Gross Pay
Real Wage (Purchasing Power)
$100,640
Adjusted for COL (100)
The average annual salary of $100,640 in New York-Newark-Jersey City aligns perfectly with the national Cost of Living Index of 100. This means that while the nominal salary is higher than the national average, the purchasing power of this income is comparable to the national standard, considering the local cost of goods and services. Therefore, the increased salary effectively offsets the typical higher expenses associated with living in a major metropolitan area.
Job Market Context
1,890
Total Jobs
0.202
Per 1K Jobs
0.66
Location Quotient
New York-Newark-Jersey City, NY-NJ has 0.66x the national average concentration of Budget Analysts jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.66 indicates that Budget Analysts are less concentrated in the New York-Newark-Jersey City area compared to the national average. This suggests that while there is a solid base of professionals, the market may not be saturated, potentially leading to competitive opportunities for qualified candidates. Employers may need to actively recruit to fill specialized roles, which can benefit experienced analysts seeking new positions.
Nearby Job Markets
Nearby Cities for Budget Analysts
| City | Salary | Dist. |
|---|---|---|
| Kiryas Joel-Poughkeepsie-Newburgh, NY Budget Analysts Salary | $95,510↓ 5% | 44 mi |
| Trenton-Princeton, NJ Budget Analysts Salary | $88,200↓ 12% | 52 mi |
| Bridgeport-Stamford-Danbury, CT Budget Analysts Salary | $102,980↑ 2% | 54 mi |
| New Haven, CT Budget Analysts Salary | $99,270↓ 1% | 70 mi |
Comparing salaries near New York-Newark-Jersey City, NY-NJ
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Frequently Asked Questions
How much does a Budget Analysts make in New York-Newark-Jersey City, NY-NJ?
The median annual salary for a Budget Analysts in New York-Newark-Jersey City, NY-NJ is $100,640. This typically ranges from $65,380 for entry-level positions to $140,930 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York-Newark-Jersey City, NY-NJ is 5.4% higher than the national median of $95,520.
Is New York-Newark-Jersey City, NY-NJ a lucrative place for Budget Analysts?
Yes, it is a lucrative place for Budget Analysts.The average salary of $100,640 significantly exceeds the national average, and the cost of living is on par with the national average, indicating strong earning potential.
Is New York-Newark-Jersey City, NY-NJ a good place to live for Budget Analysts?
The Cost of Living Index in New York-Newark-Jersey City, NY-NJ is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York-Newark-Jersey City, NY-NJ?
Some top paying nearby cities include Kiryas Joel-Poughkeepsie-Newburgh, NY ($95,510) and Trenton-Princeton, NJ.
How does the New York-Newark-Jersey City salary compare to the national average?
The average salary for Budget Analysts in New York-Newark-Jersey City is $100,640, which is notably higher than the national average of $95,520.
What is the concentration of Budget Analysts in this region?
The Location Quotient for Budget Analysts in this region is 0.66, meaning the concentration is below the national average.
How many Budget Analysts are employed in the New York-Newark-Jersey City area?
There are approximately 1,890 Budget Analysts employed in the New York-Newark-Jersey City metropolitan area.
Does the higher salary in New York-Newark-Jersey City mean a better standard of living?
With a Cost of Living Index of 100, the higher nominal salary effectively maintains a purchasing power equivalent to the national average, despite the higher gross income.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,890 employees in the New York-Newark-Jersey City, NY-NJ area with a job density of 0.202 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 New York-Newark-Jersey City, NY-NJ