Cost Accountant Salary

Average Cost Accountants in the United States make around $52K per year. Total cash compensation for Cost Accountants runs from $37K to $72K depending on bonuses that can occasionally exceed $6K and profit sharing that can reach almost $5K. Residence and career length each impact pay for this group, with the former having the largest influence. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Women Cost Accountants who took the survey just slightly outnumber men. Most Cost Accountants like their work and job satisfaction is high. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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$38,601 - $70,268

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$14.13 - $28.26

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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$24K$48K$72K
Salary
$38,601 - $70,268  
   
Bonus
$0.00 - $6,059  
Profit Sharing
$193.92 - $4,856  
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).
)
$36,543 - $71,998  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 1,362
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$14$28$42
Hourly Rate
$14.13 - $28.26  
   
Overtime
$21.08 - $41.30  
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$28K$56K$84K
Bonus
$0.00 - $6,059  
   
Profit Sharing
$193.92 - $4,856  
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).
)
$36,543 - $71,998  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 221
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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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Though it's uncommon, some Cost Accountants move into roles as Plant Controllers, where pay is an average $89K per year. Typical career progression for a Cost Accountant involves becoming a Senior Accountant or a Financial Controller, roles that pay $7K more and $25K more on average.

Cost Accountant Job Listings

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Popular Skills for Cost Accountant


Cost Accountants seem to exploit a large range of skills on the job. Most notably, skills in SAP Enterprise Resource Planning, Financial Reporting, Financial Analysis, and SAP SAP Financial Accounting and Controlling are correlated to pay that is above average, with boosts between 7 percent and 11 percent. Skills that seem to negatively impact pay include Accounts Payable, Accounting, and Windows Operating System General Use. Those educated in Microsoft Excel tend to be well versed in Cost Accounting and Financial Analysis.

Pay by Experience Level for Cost Accountant

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


Salaries for the relatively untried average out to around $48K, but survey participants with five to 10 years of experience earn a significantly higher median of $55K. On average, Cost Accountants make $61K following one to two decades on the job. Survey participants with more than twenty years of experience only make around $59K on average, though; this group reports a lower median than the one claimed by mid-career individuals.

Pay Difference by Location


For Cost Accountants, busy Houston offers a higher-than-average pay rate, 23 percent above the national average. Cost Accountants will also find cushy salaries in Los Angeles (+20 percent), San Diego (+13 percent), Denver (+13 percent), and Dallas (+13 percent). One of the biggest compensable factors for Cost Accountants is geography, with workers in Grand Rapids earning a whopping 23 percent below the national average. Workers in Dayton and Cleveland earn salaries that trail the national average for those in this profession (19 percent less and 1 percent less, respectively).

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Experience Affects Cost Accountant Salaries




National Average
$52,000


Skills That Affect Cost Accountant Salaries



ERP
up arrow 7%



Cost Accounting
up arrow 3%

Data Analysis
0%

National Average
$52,000

Microsoft Excel
up arrow 1%

Microsoft Access
up arrow 2%

General Ledger Accounting
up arrow 2%

Microsoft Office
up arrow 3%

Microsoft Word
up arrow 4%


Accounting
up arrow 6%

Accounts Payable
up arrow 11%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 274 votes.

Gender

Female
51 %
Male
49 %

Years of Experience

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

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 78%
vision benefits Vision: 61% employee benefits None: 11%
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