Cost Accountant Salary

Median pay for Cost Accountants in the United States is around $53K annually. With some bonuses approaching $6K and certain profit sharing proceeds approaching $5K, overall incomes of Cost Accountants spread between $37K and $73K depending on individual performance. Geography is the biggest factor affecting pay for this group, followed by years of experience. Women Cost Accountants who took the survey just slightly outnumber men. Job satisfaction for Cost Accountants is high. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The information for this snapshot was generated by 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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Cost Accountants sometimes assume positions such as Plant Controllers. That role pays $90K per year on average. Cost Accountants typically move into roles as Senior Accountants or Financial Controllers, and those positions pay $6K more and $25K more, 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. It is often found that people who know Microsoft Excel are also skilled in Microsoft Office and Financial Analysis. Those familiar with Cost Accounting also tend to 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.


Survey participants with less than five years' experience pocket $49K on average, but those with five to 10 years of experience enjoy a much bigger median of $56K. For Cost Accountants, 10 to 20 years of experience on the job amounts to an average salary of $60K. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of only $59K.

Pay Difference by Location

National Average: $52,658

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

Cost Accountants will find that Houston offers an impressive pay rate, one which exceeds the national average by 22 percent. 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). The smallest paychecks in the market, 19 percent south of the national average, can be found in Grand Rapids. On the whole, employers pay 5 percent below the median salary for those in this field in Madison and Charlotte.

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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