Hiring a budget analyst in Madison, WI

Employers in the Madison, WI area pay budget analysts a median of $86,340, with the middle half of the market between $78,890 and $106,090. Madison residents working in business and financial operations occupations report a median of $71,219, which is 18% below what the metro pays for this role.

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What does a budget analyst earn here?

Place of work

What employers pay

Annual wages paid by employers in the Madison, WI area. BLS OEWS, May 2025.
25th percentile	$78,890
Median	$86,340
75th percentile	$106,090

Half of budget analysts in this area earn between $78,890 and $106,090. A band set below $78,890 competes for the bottom quarter of the market.

Place of residence

What Madison residents earn

$71,219

Median earnings of Madison residents working in business and financial operations occupations, 10,812 people. Census ACS 5-year 2023, tables S2401 and B24011. Where people live, not where they work, so it is not the same measurement as the wages beside it.

The 18% figure is not a pay gap. ACS counts the civilian employed population 16 and over, part-time and part-year work included; OEWS counts wage-and-salary jobs only. The two populations differ, so read this number against other cities rather than as a shortfall: the same definitional difference applies to every city equally, which is what makes a city-to-city reading sound.

The role pays well above the local residential norm, which usually means you can hire from inside Madison rather than competing for commuters.

What does the role actually involve?

Core tasks

Analyze monthly department budgeting and accounting reports to maintain expenditure controls.
Provide advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.
Review operating budgets to analyze trends affecting budget needs.
Compile and analyze accounting records and other data to determine the financial resources required to implement a program.
Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.

O*NET 29.1, task statements for SOC 13-2031.

Tools and technologies in demand

Accounting software, Microsoft Excel, Microsoft Office software, Microsoft Outlook, Microsoft PowerPoint, Microsoft Access, Microsoft SharePoint, Microsoft Visual Basic.

O*NET 29.1, flagged in demand or hot for this occupation. Useful as a screen, not as a checklist.

Is the talent actually in Madison?

This is a job zone four: considerable preparation needed occupation. Most of these occupations require a four-year bachelor's degree, but some do not.

That matters here, because 59.2% of Madison adults hold a bachelor's degree or higher. That is a deep local pool for a degree-requiring role. Census ACS 5-year 2023, table S1501.

The average Madison commute runs 19.4 minutes, which is roughly how far your catchment reaches before candidates start saying no. 18.2% already work from home, so a fully onsite requirement here is competing against that.

How often do these jobs turn over?

In Dane County, accounting, tax preparation, bookkeeping and payroll services employs 2,011 and turns over 10.2% a quarter, with 408 hires against 196 separations. Average earnings in that industry run $6,978 a month. Census LEHD Quarterly Workforce Indicators, 2024 Q1, NAICS 5412.

That figure covers every occupation in the industry, not this role alone, so read it as the local churn rate rather than as a number about budget analysts. It still tells you what you are hiring into: a normal churn rate, where a well-run search closes on schedule.

What does the search cost?

The fee is set by the seniority of the role, never by salary and never by location. Across all six tiers it runs $6,240 to $54,340 per search. A contingency firm hiring at this role's median would bill roughly $17,268 to $25,902 on the first year salary alone.

One owner runs the search from market map to signed offer. Searches typically fill in 23 to 35 days, which is a typical window rather than a promise, and the replacement guarantee runs 45 days at 50% off.

Price this search

Eight questions about the role. Your tier range appears on screen.