Cost Accountant Salary

Cost Accountants in the United States can expect wages of $53K annually on average. Cash earnings for Cost Accountants — which occasionally include more than $6K from bonuses and more than $5K from profit sharing — stretch from around $37K to approximately $73K. Geographic location is the biggest factor affecting pay for this group, followed by experience level. Most Cost Accountants report high levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 52 percent. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. This report is based on responses to the PayScale salary survey.
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$39,289 - $71,136
(Median)
$39K
$53K
$71K
MEDIAN: $52,930
10%
50%
90%

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$14.24 - $28.23
(Median)
$14
$19
$28
MEDIAN: $18.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$25K$50K$75K
Salary
$39,289 - $71,136  
   
Bonus
$0.00 - $6,155  
Profit Sharing
$194.89 - $4,520  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$37,325 - $72,529  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,445
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$15$30$45
Hourly Rate
$14.24 - $28.23  
   
Overtime
$21.10 - $42.30  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$30K$60K$90K
Bonus
$0.00 - $6,155  
   
Profit Sharing
$194.89 - $4,520  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$37,325 - $72,529  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 233
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Job Description for Cost Accountant

A cost accountant performs routine and special analyses to help determine the type of operations and materials that are most cost effective for their organization. This accountant helps assess which products and raw materials are best suited to their company’s objectives, and they may be expected to create a costing system that can continuously evaluate the value of inventory and associated costs. The cost accountant should be able to determine and explain the factors that will cause costs to vary; strong research skills are essential to determine all of the costs associated with certain decisions. Additionally, cost accountants may need to document internal factors and controls that are affecting costs. The cost accountant often helps senior management to make key decisions, in some cases including decisions related to employees' salaries and product pricing.

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Cost Accountant Tasks

  • Ensures services and processes are in compliance with account practices and regulatory requirements.
  • Record and report the costs of manufacturing goods and providing services.
  • Analyzes monthly and quarterly ledger activities.
  • Prepares financial audit schedules and reports for management.

Common Career Paths for Cost Accountant


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While Cost Accountants do not often become Plant Controllers, the job pays $90K per year on average. Cost Accountants moving up in their careers tend to step into positions as Senior Accountants or Financial Controllers. The median paychecks in those roles are $6K higher and $25K higher, respectively.

Cost Accountant Job Listings

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Popular Skills for Cost Accountant


Cost Accountants report using a deep pool of skills on the job. Most notably, skills in SAP Enterprise Resource Planning, Budgeting, SAP SAP Financial Accounting and Controlling, and Financial Analysis are correlated to pay that is above average, with boosts between 8 percent and 10 percent. Skills that are correlated to lower pay, on the other hand, include Accounts Payable, Windows Operating System General Use, and Microsoft Word. Most people who know Microsoft Excel also know Microsoft Office and Financial Analysis. The majority of those who know Cost Accounting also know Financial Analysis and Microsoft Office.

Pay by Experience Level for Cost Accountant

Median of all compensation (including tips, bonus, and overtime) by years of experience.


The average worker who claims fewer than five years of experience earns around $49K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $56K. Cost Accountants with one to two decades of relevant experience report an average salary of approximately $60K. Cost Accountants who claim more than two decades of experience actually make somewhat smaller average paychecks of $59K.

Pay Difference by Location

National Average: $52,658

Larger city markers indicate a job is popular in that location.

Home to some of the best pay for Cost Accountants, Houston offers exceptional salaries, 22 percent above the national average. Cost Accountants can also look forward to large paychecks in cities like Los Angeles (+17 percent), Minneapolis (+14 percent), Dallas (+12 percent), and Denver (+12 percent). Grand Rapids ranks last in the field for pay, reporting salaries 19 percent below the national average. Two other places where employers salaries are below the median are Madison and Charlotte (5 percent lower).

Related Job Salaries

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Experience Affects Cost Accountant Salaries




National Average
$53,000


Skills That Affect Cost Accountant Salaries





ERP
up arrow 5%

Financial Reporting
up arrow 4%

Cost Accounting
up arrow 2%

General Ledger Accounting
up arrow 1%

Microsoft Excel
0%

Data Analysis
0%

National Average
$53,000

Microsoft Access
up arrow 2%

Microsoft Office
up arrow 3%

Microsoft Word
up arrow 3%



Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 238 votes.

Gender

Female
52 %
Male
48 %

Years of Experience

Less than 1 year
6%
1-4 years
41%
5-9 years
24%
10-19 years
19%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 77%
medical benefits
Vision: 60%
dental benefits
None: 11%
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