Budget Analyst Salary in Somerville, MA
How much does a budget analyst make in Somerville? Explore median, entry-level, and senior salaries adjusted for Somerville's cost of living.
Salary Breakdown by Experience Level
See how budget analyst salaries break down across different pay periods in Somerville.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $96,095 | $157,596 | $215,253 |
| Monthly | $8,008 | $13,133 | $17,938 |
| Biweekly | $3,696 | $6,061 | $8,279 |
| Weekly | $1,848 | $3,031 | $4,139 |
| Hourly | $46 | $76 | $103 |
Somerville vs National Average
How Somerville's budget analyst salaries compare to national figures.
Cost of Living in Somerville
About Budget Analyst
Overview
Develop budgets and monitor spending for organizations.
Education
Bachelor's degree in Accounting, Finance, or related field
Key Skills
Growth Rate
Expected job growth: +15% over the next decade
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Budget Analyst Salary in Somerville, MA — Complete Guide
Median Salary Overview
The median salary for a budget analyst in Somerville, MA is $157,596 per year, adjusted for the local cost of living index of 155. This figure reflects typical earnings for experienced professionals in this role, considering Somerville's unique economic conditions.
Salary Range and Experience Levels
Entry-level budget analyst professionals in Somerville can expect to earn around $96,095 annually. As professionals gain experience, salaries typically increase, with senior-level budget analysts earning approximately $215,253 per year. This represents a 124% increase from entry to senior level.
Cost of Living Adjustment
Somerville's cost of living index of 155 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Somerville are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $83,340, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a budget analyst's salary in Somerville typically goes toward housing. With a 1-bedroom apartment averaging $2,400 per month, housing represents about 18.3% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Budget Analysts are in growing demand across the United States, with an expected job growth of 15% over the next decade. In Somerville, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.