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Average Budget Analysts Salary in Richmond, VA

Budget Analysts in Richmond, VA, command an average annual salary of $91,940. This figure is slightly below the national average of $95,520, reflecting a nuanced local market. While the nominal pay is comparable, the specific economic drivers within Richmond influence compensation for these critical financial roles.

Executive Summary

  • Average Salary: $91,940 per year.
  • Growth Trend: Salaries have shifted 9.7% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $122,300.
  • Outlook: Richmond, VA, presents a moderately concentrated job market for Budget Analysts, with a total local workforce of 360 individuals. The Location Quotient of 1.8 indicates a significantly higher concentration of these roles compared to the national average, suggesting robust demand and a specialized local industry presence that supports this specialized workforce.
2024 Market Data

Salary Overview

$91,940

The average Budget Analysts in Richmond, VA earns-3.7%below the national average.

BreakdownBased on 40h/week
Hourly

$44.2

Weekly

$1,768

Monthly

$7,662

Budget Analysts Salary Distribution in Richmond, VA

The salary trajectory for Budget Analysts in Richmond, VA, shows a clear progression with experience. Entry-level positions typically start at the lower percentiles, while seasoned professionals with extensive experience and specialized skills can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies substantial career growth opportunities and increased earning potential.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$61,230$29.4
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$68,955$33.2
ManagerOversees team, compliance, and project delivery.50% (Median)$89,680$43.1
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$114,925$55.3
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$122,300$58.8

Detailed Budget Analysts Market Analysis

Relocation Context

Nominal Salary

$91,940

Gross Pay

Real Wage (Purchasing Power)

$91,940

Adjusted for COL (100)

The average Budget Analyst salary of $91,940 in Richmond, VA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Budget Analyst's salary in Richmond is equivalent to the national average, offering a stable financial environment for residents.

Job Market Context

360

Total Jobs

0.55

Per 1K Jobs

1.8

Location Quotient

Major Hub

Richmond, VA has 1.8x 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 1.8, Richmond, VA, demonstrates a job market for Budget Analysts that is nearly twice as concentrated as the national average. This suggests a strong, established presence of these roles within the local economy, indicating a competitive yet potentially rewarding environment for professionals in this field.

Nearby Job Markets

Hiring Budget Analystss?

Frequently Asked Questions

How much does a Budget Analysts make in Richmond, VA?

The median annual salary for a Budget Analysts in Richmond, VA is $91,940. This typically ranges from $61,230 for entry-level positions to $122,300 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Richmond, VA is 3.7% lower than the national median of $95,520.

Is Richmond, VA a lucrative place for Budget Analysts?

Yes, Richmond, VA offers a competitive compensation landscape for Budget Analysts.The average salary of $91,940 aligns with the national cost of living, and the high concentration of roles (LQ of 1.8) indicates strong local demand.

Is Richmond, VA a good place to live for Budget Analysts?

The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.

How does the Richmond Budget Analyst salary compare to the national average?

The average salary for Budget Analysts in Richmond, VA, is $91,940, which is slightly lower than the national average of $95,520.

What is the concentration of Budget Analysts in Richmond, VA?

Richmond, VA has a Location Quotient of 1.8 for Budget Analysts, meaning the concentration of these jobs is 80% higher than the national average.

How does the cost of living in Richmond affect a Budget Analyst's salary?

Richmond's Cost of Living Index is 100, matching the national average. Therefore, the nominal salary of $91,940 provides purchasing power equivalent to the national average.

What is the total number of Budget Analysts in Richmond, VA?

There are approximately 360 Budget Analysts working in Richmond, VA.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 360 employees in the Richmond, VA area with a job density of 0.55 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Budget Analysts • Data source: BLS OEWS 2024 •Jobs in Richmond, VA