A Cost Analyst earns an average salary of $59,272 per year. Most people move on to other jobs if they have more than 20 years' experience in this career.

$42,558 - $89,083
(Median)
$43K
$59K
$89K
MEDIAN: $59,272
10%
50%
90%

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$13.99 - $39.99
(Median)
$14
$20
$40
MEDIAN: $20
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$31K$62K$93K
Salary
$42,558 - $89,083  
   
Bonus
$397.32 - $7,938  
Profit Sharing
$0.00 - $7,047  
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).
)
$40,233 - $90,144  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 464
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$16$32$48
Hourly Rate
$13.99 - $39.99  
   
Hourly Tips
$0.00  
Overtime
$12.00 - $41.85  
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$32K$64K$96K
Bonus
$397.32 - $7,938  
   
Profit Sharing
$0.00 - $7,047  
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).
)
$40,233 - $90,144  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 80
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Job Description for Cost Analyst

Cost analysts are responsible for analyzing and controlling a company's expenses. Their main tasks include developing standard costs, determining product costs, creating a budget, and analyzing differences in company costs and standard costs. They are also in charge of preparing statements and reports, sharing information with colleagues as needed, supervising audit files, attending meetings and projects requiring financial input, and training certain managers in cost management. Cost analysts should be familiar with accounting and cost-management software, as well as basic computer software such as the Microsoft Office suite. They should have a good understanding of database principles and should be able to communicate well orally and in writing. Some good skills for cost analysts to have include the ability to work in a team as well as alone, organization, resourcefulness, the ability to manage priorities and deadlines, and the ability to solve problems. Cost analysts usually work alone, but they also work with supervisors to explain financial issues and provide other coworkers with any needed training.

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Cost Analyst Tasks

  • Analyze actual compared to standard costs for ongoing expenses, and identify opportunities and risks.
  • Assist in developing annual operations plan and estimating new product costs, including economic analysis.
  • Perform cost-benefit analyses, and recommend process improvements and unit changes to reduce costs.
  • Maintain pricing and inventory system data quality.

Common Career Paths for Cost Analyst


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Cost Analyst Job Listings

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Popular Employer Salaries for Cost Analyst

Popular Skills for Cost Analyst

Pay by Experience Level for Cost Analyst

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

Pay Difference by Location

National Average: $58,942

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

Cost Analyst Reviews

What is it like working as a Cost Analyst?

Cost Analyst in Winchester:
"Interesting work but rarely busy."
Pros: I love cost modeling and analysis. I enjoy being in excel everyday and getting to keep my skills top notch. I enjoy the freedom to do my own work and experiment with the teams on what approach I will use for my models.
Cons: Incredibly limited work for the group we have. Limited guidance on where the department is going or what needs improved. Almost no motivation coming from colleagues...feels like a day to day for them not trying to make things better.

Related Job Salaries

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Experience Affects Cost Analyst Salaries




National Average
$59,000


Skills That Affect Cost Analyst Salaries

Microsoft Office
up arrow 5%

Data Analysis
up arrow 4%

Financial Analysis
up arrow 4%

Accounting
up arrow 2%

National Average
$59,000

Microsoft Excel
up arrow 1%

Cost Accounting
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 62 votes.

Gender

Female
47 %
Male
53 %

Years of Experience

Less than 1 year
7%
1-4 years
50%
5-9 years
24%
10-19 years
11%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 83%
medical benefits
Vision: 73%
dental benefits
None: 9%
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