Avg. Base Salary (USD)
The average salary for a Cost Analyst is $62,504
What is the Pay by Experience Level for Cost Analysts?
An entry-level Cost Analyst with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $54,311 based on 77 salaries. An early career Cost Analyst with 1-4 years of experience earns an average total compensation of $60,272 based on 365 salaries. A mid-career Cost …Read more
What Do Cost Analysts Do?
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 …Read more
- 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.