Average Budget Analyst Salary in Maharashtra, India for 2026

In this article, we will look at the average Budget Analyst salary for 2026 in Maharashtra and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Indian rupee. To keep things simple, we are using the INR currency code instead of the currency symbol .

How Much Does a Budget Analyst Make in Maharashtra?

A Budget Analyst working in Maharashtra will typically earn around 575,100 INR per year, and this can range from the lowest average salary of about 286,400 INR to the highest average salary of 890,100 INR.

Average Annual Salary575,100 INR
Average Monthly Salary47,925 INR
Average Lowest Salary286,400 INR
Lowest Monthly Salary23,866 INR
Average Highest Salary890,100 INR
Highest Monthly Salary74,175 INR

These are average salaries for a Budget Analyst in Maharashtra and include benefits such as housing and transport. It's also possible for a Budget Analyst to earn more or less than the average salaries shown above.

Budget Analyst salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Budget Analyst Salaries in Maharashtra

So we've looked at the average salaries a Budget Analyst will earn in Maharashtra. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Budget Analyst can earn between 286,400 INR and 890,100 INR on average in Maharashtra. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Budget Analyst in Maharashtra is 575,100 INR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 575,100 INR, and 50% of the population earn more than 575,100 INR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Budget Analyst salary in Maharashtra, 25% of the population are earning less than 386,400 INR while 75% of the population earn more than 386,400 INR.

75% of the population earn less than 733,300 INR, and 25% of the population earn more than 733,300 INR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Budget Analyst Salary by Experience Level in Maharashtra

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average Budget Analyst salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Budget Analyst in Maharashtra that has less than two years of experience can expect to earn somewhere in the region of 345,100 INR.
  • 2 - 5 Years Experience. With two to five years of experience the average Budget Analyst salary would increase to 457,300 INR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Budget Analyst, the average salary would be 612,500 INR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 727,100 INR.
  • 15 - 20 Years Experience. A Budget Analyst with 15 to 20 years of experience can earn an average of 785,400 INR.
  • 20+ Years Experience. For a Budget Analyst with more than 20 years, the expected average salary increases to 844,100 INR.

Average Salary by Experience Chart

0-2 Years-
345,100 INR
2-5 Years+32%
457,300 INR
5-10 Years+34%
612,500 INR
10-15 Years+19%
727,100 INR
15-20 Years+8%
785,400 INR
20+ Years+7%
844,100 INR

Budget Analyst Salary by Education Level in Maharashtra

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Budget Analyst in Maharashtra based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Budget Analyst in Maharashtra with a high school education can earn an average salary of 430,500 INR.
  • Certificate or Diploma. A Budget Analyst in Maharashtra with a certificate or diploma education can earn an average salary of 493,000 INR.
  • Bachelor's Degree. A Budget Analyst in Maharashtra with a bachelor's degree education can earn an average salary of 669,100 INR.
  • Master's Degree. A Budget Analyst in Maharashtra with a master's degree education can earn an average salary of 844,100 INR.

Average Salary by Education Chart

High School-
430,500 INR
Certificate or Diploma+14%
493,000 INR
Bachelor's Degree+36%
669,100 INR
Master's Degree+26%
844,100 INR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in India is around 160,000 to 479,000 INR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Budget Analyst Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Maharashtra, a male budget analyst will earn an average of 485,200 INR, while a female budget analyst will earn around 420,800 INR.

This means that a male budget analyst earns approximately 15% more than a female budget analyst for performing the same job.

Average Salary by Gender Chart in Maharashtra

Male-
485,200 INR
Female-15%
420,800 INR

Budget Analyst Average Pay Raise in Maharashtra

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Budget Analyst in Maharashtra is around 13% every 16 months.

The national average pay raise across all professions and industries in India is around 9% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 13 ÷ 16 ) × 12  = 10%

What this means is that a Budget Analyst in Maharashtra can expect to receive an average pay raise of around 10% every 12 months.

Annual Pay Raise by Industry in Maharashtra for 2026

In the chart below, you can see the average annual pay raise percentages for each of the major industries in India.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking-
1%
Energy-
2%
Information Technology-
3%
Healthcare-
4%
Travel-
5%
Construction-
6%
Education-
7%

Budget Analyst Bonus and Incentive Rates in Maharashtra

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Budget Analyst is a high bonus based job, with 78% of employees reporting at least one bonus in the last 12 months.

22% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 6% to 8%.

Received Bonus-
78%
No Bonus-
22%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in India earn approximately 6% more than private sector employees in the same role.

Public Sector-
392,300 INR
Private Sector-6%
371,100 INR

Salaries for Jobs Similar to a Budget Analyst

In the table below, we have salary information for jobs that are similar to a Budget Analyst in Maharashtra.

Job TitleCategorySalary
Account ExaminerAccounting and Finance197,600 INR
Account ExecutiveAccounting and Finance341,400 INR
AccountantAccounting and Finance263,100 INR
Accounting AnalystAccounting and Finance330,900 INR
Accounting AssistantAccounting and Finance204,000 INR
Accounting AssociateAccounting and Finance194,600 INR
Accounting ClerkAccounting and Finance172,200 INR
Accounting CoordinatorAccounting and Finance239,000 INR
Accounting HeadAccounting and Finance539,700 INR
Accounting ManagerAccounting and Finance568,500 INR
Accounting OfficerAccounting and Finance197,600 INR
Accounting SpecialistAccounting and Finance363,000 INR
Accounting SupervisorAccounting and Finance369,300 INR
Accounting TechnicianAccounting and Finance189,300 INR
Accounting Unit ControllerAccounting and Finance451,000 INR
Accounts ExecutiveAccounting and Finance341,400 INR
Accounts OfficerAccounting and Finance209,500 INR
Accounts Payable AssistantAccounting and Finance216,800 INR
Accounts Payable AssociateAccounting and Finance245,300 INR
Accounts Payable ClerkAccounting and Finance197,600 INR
Accounts Payable ManagerAccounting and Finance529,600 INR
Accounts Payable and Receivable SpecialistAccounting and Finance275,200 INR
Accounts Receivable AdministratorAccounting and Finance394,800 INR
Accounts Receivable ClerkAccounting and Finance197,600 INR
Accounts Receivable Financial AnalystAccounting and Finance377,200 INR
Accounts Receivable ManagerAccounting and Finance520,900 INR
Accounts Receivable Team LeaderAccounting and Finance394,800 INR
Assistant AccountantAccounting and Finance204,000 INR
Assistant Accounting ManagerAccounting and Finance502,200 INR
Assistant AuditorAccounting and Finance267,100 INR
Assistant Corporate ControllerAccounting and Finance363,000 INR
Assistant Finance ManagerAccounting and Finance558,300 INR
Assistant Financial ControllerAccounting and Finance363,000 INR
Audit DirectorAccounting and Finance615,700 INR
Audit SupervisorAccounting and Finance491,000 INR
Auditing ClerkAccounting and Finance209,500 INR
Auditing ManagerAccounting and Finance558,300 INR
Billing ClerkAccounting and Finance204,000 INR
Billing CoordinatorAccounting and Finance245,300 INR
Billing SpecialistAccounting and Finance283,700 INR
Billing SupervisorAccounting and Finance411,400 INR
BookkeeperAccounting and Finance176,800 INR
Bookkeeping SpecialistAccounting and Finance258,400 INR
Budget ManagerAccounting and Finance553,800 INR
Business Support AnalystAccounting and Finance301,600 INR
Capital Markets AssociateAccounting and Finance406,300 INR
Cash Flow AnalystAccounting and Finance406,300 INR
Cash Management ManagerAccounting and Finance529,600 INR
Cash Management OfficerAccounting and Finance309,800 INR
Cashbook ClerkAccounting and Finance183,600 INR
Chartered AccountantAccounting and Finance341,400 INR
Chief AccountantAccounting and Finance397,900 INR
Collections ClerkAccounting and Finance164,200 INR
Collections RepresentativeAccounting and Finance233,600 INR
Collections SpecialistAccounting and Finance275,200 INR
Corporate ControllerAccounting and Finance428,400 INR
Corporate TreasurerAccounting and Finance514,300 INR
Cost AccountantAccounting and Finance272,800 INR
Cost Accounting ManagerAccounting and Finance531,700 INR
Cost Accounting SupervisorAccounting and Finance431,300 INR
Cost AnalystAccounting and Finance428,400 INR
Credit ControllerAccounting and Finance369,300 INR
Credit ManagerAccounting and Finance558,300 INR
Credit and Collection ManagerAccounting and Finance537,300 INR
Credit and Collection StaffAccounting and Finance204,000 INR
Credit and Loans OfficerAccounting and Finance194,600 INR
Debt AdviserAccounting and Finance444,300 INR
Debt CollectorAccounting and Finance216,800 INR
Debtors ClerkAccounting and Finance185,100 INR
Debtors ControllerAccounting and Finance197,600 INR
Deputy CFOAccounting and Finance736,700 INR
Deputy Head of FinanceAccounting and Finance736,700 INR
Derivative TraderAccounting and Finance462,300 INR
Director of FinanceAccounting and Finance790,600 INR
EconomistAccounting and Finance628,000 INR
Equity AnalystAccounting and Finance478,100 INR
Escrow AssistantAccounting and Finance239,000 INR
Executive AccountantAccounting and Finance301,600 INR
External AuditorAccounting and Finance377,200 INR
Finance AdministratorAccounting and Finance314,500 INR
Finance AnalystAccounting and Finance485,300 INR
Finance AssociateAccounting and Finance233,600 INR
Finance DirectorAccounting and Finance790,600 INR
Finance ExecutiveAccounting and Finance568,500 INR
Finance Licensing ClerkAccounting and Finance194,600 INR
Finance Licensing ManagerAccounting and Finance514,300 INR
Finance Licensing SpecialistAccounting and Finance288,700 INR
Finance ManagerAccounting and Finance751,700 INR
Finance OfficerAccounting and Finance258,400 INR
Finance PresidentAccounting and Finance790,600 INR
Finance Relationship ManagerAccounting and Finance619,800 INR
Finance Release AnalystAccounting and Finance309,800 INR
Finance SpecialistAccounting and Finance444,300 INR
Finance Team Leader Accounting and Finance597,800 INR
Financial AccountantAccounting and Finance267,100 INR
Financial ActuaryAccounting and Finance411,400 INR
Financial AdministratorAccounting and Finance444,300 INR
Financial AdvisorAccounting and Finance487,600 INR
Financial AnalystAccounting and Finance485,300 INR
Financial Applications SpecialistAccounting and Finance335,800 INR
Financial AssistantAccounting and Finance216,800 INR
Financial AssociateAccounting and Finance216,800 INR
Financial AssociateAccounting and Finance258,400 INR
Financial Claims AnalystAccounting and Finance361,500 INR
Financial Claims ManagerAccounting and Finance478,000 INR
Financial Claims SupervisorAccounting and Finance444,300 INR
Financial ClerkAccounting and Finance204,000 INR
Financial Commercial AnalystAccounting and Finance386,400 INR
Financial Compliance AnalystAccounting and Finance431,300 INR
Financial ConsultantAccounting and Finance359,900 INR
Financial ControllerAccounting and Finance428,400 INR
Financial CoordinatorAccounting and Finance246,200 INR
Financial Customer Service ManagerAccounting and Finance491,000 INR
Financial Dealer and BrokerAccounting and Finance288,700 INR
Financial DirectorAccounting and Finance790,600 INR
Financial EncoderAccounting and Finance227,600 INR
Financial ManagerAccounting and Finance751,700 INR
Financial Operations ManagerAccounting and Finance684,900 INR
Financial Policy AnalystAccounting and Finance417,200 INR
Financial Project ManagerAccounting and Finance553,800 INR
Financial Quantitative AnalystAccounting and Finance462,300 INR
Financial Reporting ConsultantAccounting and Finance386,400 INR
Financial Reporting ManagerAccounting and Finance514,300 INR
Financial Section HeadAccounting and Finance514,300 INR
Financial Services ManagerAccounting and Finance684,900 INR
Financial Services Sales AgentAccounting and Finance296,000 INR
Fixed Assets AdministratorAccounting and Finance279,400 INR
Forensic AccountantAccounting and Finance314,500 INR
Fraud Detection SupervisorAccounting and Finance330,900 INR
Fraud Prevention ManagerAccounting and Finance548,800 INR
Fund AccountantAccounting and Finance258,400 INR
Grants CoordinatorAccounting and Finance197,600 INR
Group Financial ManagerAccounting and Finance768,900 INR
Internal AuditorAccounting and Finance359,900 INR
Internal Control AdviserAccounting and Finance420,800 INR
Internal Control OfficerAccounting and Finance233,600 INR
International Tax DirectorAccounting and Finance649,700 INR
Inventory AccountantAccounting and Finance279,400 INR
Investment AdvisorAccounting and Finance719,100 INR
Investment AnalystAccounting and Finance529,600 INR
Investment AssociateAccounting and Finance451,000 INR
Investment BrokerAccounting and Finance451,000 INR
Investment Fund ManagerAccounting and Finance597,800 INR
Investment Operations ManagerAccounting and Finance597,800 INR
Investment UnderwriterAccounting and Finance227,600 INR
InvestorAccounting and Finance349,300 INR
Investor Relations ManagerAccounting and Finance539,700 INR
KYC Team LeaderAccounting and Finance519,300 INR
Loan ProcessorAccounting and Finance222,300 INR
Management AccountantAccounting and Finance297,000 INR
Management EconomistAccounting and Finance628,000 INR
PaymasterAccounting and Finance216,800 INR
Payroll AdministratorAccounting and Finance353,600 INR
Payroll Benefits CoordinatorAccounting and Finance296,000 INR
Payroll Billing ManagerAccounting and Finance491,000 INR
Payroll ClerkAccounting and Finance233,600 INR
Payroll ManagerAccounting and Finance491,000 INR
Payroll OfficerAccounting and Finance233,600 INR
Payroll SpecialistAccounting and Finance279,400 INR
Payroll SupervisorAccounting and Finance341,400 INR
Pensions AdministratorAccounting and Finance283,700 INR
Personal Financial AdvisorAccounting and Finance397,900 INR
Pricing AnalystAccounting and Finance444,300 INR
Private Equity AnalystAccounting and Finance478,100 INR
Project AccountantAccounting and Finance283,700 INR
Proposal Development CoordinatorAccounting and Finance239,000 INR
Receivables AccountantAccounting and Finance247,800 INR
Regulatory AccountantAccounting and Finance294,300 INR
Retirement Plan AnalystAccounting and Finance428,400 INR
Revenue Management SpecialistAccounting and Finance444,300 INR
Revenue Recognition AnalystAccounting and Finance496,100 INR
Risk Management DirectorAccounting and Finance643,800 INR
Risk Management SupervisorAccounting and Finance529,600 INR
Staff AccountantAccounting and Finance258,400 INR
Tax AccountantAccounting and Finance252,300 INR
Tax AdministratorAccounting and Finance288,700 INR
Tax AdvisorAccounting and Finance411,400 INR
Tax AnalystAccounting and Finance411,400 INR
Tax AssociateAccounting and Finance227,600 INR
Tax ConsultantAccounting and Finance428,400 INR
Tax DirectorAccounting and Finance619,800 INR
Tax ExaminerAccounting and Finance283,700 INR
Tax ManagerAccounting and Finance548,800 INR
Tax Research ManagerAccounting and Finance548,800 INR
TellerAccounting and Finance159,400 INR
Treasury AccountantAccounting and Finance294,700 INR
Treasury AnalystAccounting and Finance444,300 INR
UnderwriterAccounting and Finance189,300 INR
Underwriting AssistantAccounting and Finance176,800 INR
Vice President of FinanceAccounting and Finance736,700 INR

Salary Comparison by City

If you want to compare salaries with different cities in India, you can use the links below to explore the data for each specific city we have researched.

CityAverage Salary
Ahmadabad482,600 INR
Bangalore505,850 INR
Bhopal446,000 INR
Chennai490,150 INR
Coimbatore436,650 INR
Delhi504,900 INR
Ghaziabad419,000 INR
Hyderabad494,100 INR
Indore447,200 INR
Jaipur465,700 INR
Kanpur448,350 INR
Kolkata484,650 INR
Lucknow459,000 INR
Ludhiana419,800 INR
Madurai412,650 INR
Mumbai511,200 INR
Nagpur464,550 INR
Patna431,400 INR
Pimpri-Chinchwad443,950 INR
Pune479,400 INR
Surat473,300 INR
Vadodara414,250 INR
Visakhapatnam443,000 INR
agra407,150 INR

Salary Comparison by State

The table below includes links to the average salary for each state in India.

StateAverage Salary
Andaman & Nicobar Islands376,600 INR
Andhra Pradesh489,650 INR
Arunachal Pradesh415,050 INR
Assam481,350 INR
Bihar542,900 INR
Chandigarh388,550 INR
Chhatisgarh460,450 INR
Dadra & Nagar Haveli388,100 INR
Daman & Diu381,450 INR
Delhi460,300 INR
Goa421,200 INR
Gujarat489,650 INR
Haryana451,700 INR
Himachal Pradesh441,100 INR
Jammu & Kashmir453,850 INR
Jharkhand495,700 INR
Karnataka493,000 INR
Kerala474,650 INR
Lakshadweep373,000 INR
Madhya Pradesh520,500 INR
Manipur416,800 INR
Meghalaya417,800 INR
Mizoram398,650 INR
Nagaland421,250 INR
Orissa496,400 INR
Pondicherry392,950 INR
Punjab459,100 INR
Rajasthan504,800 INR
Sikkim391,700 INR
Tamil Nadu509,900 INR
Tripura440,550 INR
Uttar Pradesh527,150 INR
Uttaranchal431,150 INR
West Bengal517,500 INR

Cite This Resource

Use the tool below to generate a reference for this page in common citation styles.

  • <a href="https://worldsalaries.com/average-budget-analyst-salary-in-maharashtra/india/">Average Budget Analyst Salary in Maharashtra, India for 2026</a>

  • "Average Budget Analyst Salary in Maharashtra, India for 2026." World Salaries. Accessed January 3, 2026. https://worldsalaries.com/average-budget-analyst-salary-in-maharashtra/india/.

  • "Average Budget Analyst Salary in Maharashtra, India for 2026." World Salaries, https://worldsalaries.com/average-budget-analyst-salary-in-maharashtra/india/. Accessed 3 January, 2026.

  • Average Budget Analyst Salary in Maharashtra, India for 2026. World Salaries. Retrieved from https://worldsalaries.com/average-budget-analyst-salary-in-maharashtra/india/.