Cost Analyst Salary

A Cost Analyst earns an average salary of $59,509 per year. Most people move on to other jobs if they have more than 20 years' experience in this career. A skill in Forecasting is associated with high pay for this job.

$42,838 - $90,246
$43K
$60K
$90K
MEDIAN: $59,509
10%
50%
90%

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$14.30 - $38.85
$14
$21
$39
MEDIAN: $20.65
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
$42,838 - $90,246  
   
Bonus
$489.36 - $9,769  
Profit Sharing
$0.00 - $5,109  
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).
)
$40,531 - $91,481  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 443
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
$14.30 - $38.85  
   
Hourly Tips
$0.00  
Overtime
$17.22 - $42.58  
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
$489.36 - $9,769  
   
Profit Sharing
$0.00 - $5,109  
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).
)
$40,531 - $91,481  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 76

Find Out Exactly What You Should Be Paid

United States (change)

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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

  • Perform cost-benefit analyses, and recommend process improvements and unit changes to reduce costs.
  • Maintain pricing and inventory system data quality.
  • 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.

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

Pay by Experience for a Cost Analyst has a positive trend. An entry-level Cost Analyst with less than 5 years of experience can expect to earn an average total compensation of $56,000 based on 349 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Cost Analyst with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $67,000 based on 138 salaries. An experienced Cost Analyst which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $73,000 based on 85 salaries. A Cost Analyst with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $83,000 based on 44 salaries.

Pay Difference by Location

National Average: $59,751

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

Cost Analyst Reviews

Q: 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

Key Stats for Cost Analyst

Gender

Female
51 %
Male
49 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 56 votes.
Less than 1 year
7%
1-4 years
50%
5-9 years
22%
10-19 years
12%
20 years or more
8%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Cost Analyst Salaries

▲39%

▲21%

▲12%

National Average
$60,000

▼7%

Skills That Affect Cost Analyst Salaries

Forecasting
▲25%

Microsoft Office
▲9%

Financial Modeling
▲5%



Microsoft Excel
▼0%

Accounting
▼0%

National Average
$60,000


SAP SAP Financial Accounting and Controlling (SAP FICO)
▼11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 56 votes.

Gender

Female
51 %
Male
49 %

Years of Experience

Less than 1 year
7%
1-4 years
50%
5-9 years
22%
10-19 years
12%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 84%
vision benefits
Vision: 75%
no benefits
None: 9%