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Barystatic sea level change is a significant climate variable and a gauge for water exchanges between land, atmosphere, and ocean, with consequential relevance to stakeholders. The monitoring and attribution of globally averaged sea level variations represents substantial challenges to the climate community. Atmospheric reanalyses provide a level of monitoring for elements of the climate system that are in communication with the ocean, including the atmosphere, terrestrial land, and the surfaces of glaciated land. Global atmospheric reanalyses comprise model output that is statistically adjusted to available observations. Potentially, reanalyses offer a climatic context to observed changes in water mass distribution. Improvement in the representation of the water cycle and in water mass conservation have been stated goals of reanalysis projects. Here, we assess the capability of atmospheric reanalyses to represent variations in the global water budget from the perspective of ocean mass balance. The purpose of this work is to provide a detailed evaluation of current atmospheric reanalyses and their ability to reproduce spatial and temporal variations in atmospheric and terrestrial water storage. A second goal is to identify and characterize recent apparent trends in the water balance. We examine the ERA5, MERRA-2, and JRA-3Q reanalyses with a focus on the radio-occultation observing period from 2007 to the present. For terrestrial water storage we also compare with ERA5-Land, a surface reanalysis. The primary validation is from the NASA/DLR Gravity Recovery and Climate Experiment (GRACE) and its follow-on, GRACE-FO. The Atmospheric Infrared Sounder (AIRS) onboard NASA's Aqua satellite is also used for evaluation of the atmospheric moisture budget. Comparisons reveal strengths and weaknesses in the reanalyses of each component of the climate system. Reanalyses agree closely on atmospheric moisture storage trends, although mean values differ. Reanalyses show significant differences in land water storage. They also apply large corrections to the land water budget. Finally, reanalyses have differing abilities in representing the surface mass balance over glaciated land. Using the observed gravimetry record, changes in the underlying glaciated land ice are examined as a residual.