Average Budget Analysts Salary in Trenton-Princeton, NJ
Budget Analysts in the Trenton-Princeton, NJ area earn an average annual salary of $88,200. This figure is slightly below the national average of $95,520, a difference often influenced by regional economic factors and the specific industry demands within the locale. The concentration of specific industries and the overall economic landscape of Trenton-Princeton play a significant role in shaping compensation for these vital financial roles.
Executive Summary
- Average Salary: $88,200 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $123,410.
- Outlook: The Trenton-Princeton, NJ area supports a dedicated workforce of 210 Budget Analysts, indicating a stable, albeit niche, job market. With a Location Quotient of 2.87, this region exhibits a significantly higher concentration of these professionals compared to the national average, suggesting robust demand and a specialized need for their expertise within the local economy.
Salary Overview
The average Budget Analysts in Trenton-Princeton, NJ earns-7.7%below the national average.
$42.4
$1,696
$7,350
Budget Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is generally observed that roles like Budget Analysts have seen consistent salary growth over the past four years, driven by inflation, increasing demand for financial oversight, and the evolving complexity of fiscal management across industries. This trend is likely reflected in the Trenton-Princeton area, contributing to the current average salary.
Budget Analysts Salary Distribution in Trenton-Princeton, NJ
Salary progression for Budget Analysts in Trenton-Princeton, NJ, is strongly tied to experience. Entry-level positions typically start at the lower end of the pay scale, while senior analysts with extensive experience and specialized skills can command salaries significantly higher than the average. The widening gap between entry-level and senior compensation percentiles clearly signifies substantial career growth and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $58,330 | $28 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $66,150 | $31.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $86,050 | $41.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $110,250 | $53 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $123,410 | $59.3 |
Detailed Budget Analysts Market Analysis
Relocation Context
Nominal Salary
$88,200
Gross Pay
Real Wage (Purchasing Power)
$88,200
Adjusted for COL (100)
The average annual salary of $88,200 in Trenton-Princeton, NJ, is perfectly aligned with the national average cost of living, indicated by an index of 100. This means that the purchasing power of a Budget Analyst's salary in this region is equivalent to the national standard, offering a balanced financial environment for residents.
Job Market Context
210
Total Jobs
0.877
Per 1K Jobs
2.87
Location Quotient
Trenton-Princeton, NJ has 2.9x 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.
A Location Quotient of 2.87 for Budget Analysts in Trenton-Princeton, NJ, signifies a highly concentrated job market. This indicates that the demand for Budget Analysts in this region is nearly three times greater than the national average relative to the overall workforce, suggesting a competitive environment for employers seeking talent and a favorable landscape for job seekers.
Nearby Job Markets
Nearby Cities for Budget Analysts
| City | Salary | Dist. |
|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Budget Analysts Salary | $91,600↑ 4% | 28 mi |
| New York-Newark-Jersey City, NY-NJ Budget Analysts Salary | $100,640↑ 14% | 52 mi |
Comparing salaries near Trenton-Princeton, NJ
Hiring Budget Analystss?
Frequently Asked Questions
How much does a Budget Analysts make in Trenton-Princeton, NJ?
The median annual salary for a Budget Analysts in Trenton-Princeton, NJ is $88,200. This typically ranges from $58,330 for entry-level positions to $123,410 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Trenton-Princeton, NJ is 7.7% lower than the national median of $95,520.
Is Trenton-Princeton, NJ a lucrative place for Budget Analysts?
Yes, with a strong concentration of roles.While the average salary is slightly below the national average, the significantly high Location Quotient indicates strong regional demand. The cost of living being on par with the national average further enhances the financial attractiveness of the area for Budget Analysts.
Is Trenton-Princeton, NJ a good place to live for Budget Analysts?
The Cost of Living Index in Trenton-Princeton, NJ is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Trenton-Princeton, NJ?
Some top paying nearby cities include Philadelphia-Camden-Wilmington, PA-NJ-DE-MD ($91,600) and New York-Newark-Jersey City, NY-NJ.
How does the local salary compare to the national average?
The average annual salary for Budget Analysts in Trenton-Princeton, NJ, is $88,200, which is approximately 7.6% lower than the national average of $95,520.
What is the significance of the Location Quotient (LQ) for Budget Analysts in Trenton-Princeton?
An LQ of 2.87 means that Budget Analysts are employed in Trenton-Princeton at a rate 2.87 times higher than the national average, indicating a strong concentration and demand for these professionals in the local job market.
Does the cost of living affect the value of a Budget Analyst's salary in Trenton-Princeton?
No, the cost of living index is 100, which is the national average. This means the $88,200 salary has purchasing power equivalent to the national average, making it financially comparable.
How many Budget Analysts are there in the Trenton-Princeton area?
The total local workforce for Budget Analysts in the Trenton-Princeton, NJ area is approximately 210 individuals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 210 employees in the Trenton-Princeton, NJ area with a job density of 0.877 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 Trenton-Princeton, NJ