The average salary for a Cost Analyst is $59,885.
Is Cost Analyst your job title? Get a personalized salary report!
$44k - $91k
$485 - $10k
$778 - $7k
$41k - $92k
Your Market Worth Over Time
How has your pay changed over time for your market? Find out by taking our salary quiz.
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 s…Read more
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.
Popular Employer Salaries for Cost Analyst
The top respondents for the job title Cost Analyst are from the companies Northrop Grumman Corporation, Booz, Allen, and Hamilton and Tecolote Research, Inc.. Reported salaries are highest at Chevron Corporation where the average pay is $102,244. Other companies that offer high salaries for this role include Monsanto Company and Booz, Allen, and Hamilton, earning around $73,795 and $72,589, respectively. Tecolote Research, Inc. pays the lowest at around $49,262. L-3 Communications and Whirlpool Corporation also pay on the lower end of the scale, paying $49,953 and $60,000, respectively.
Explore the most common career paths for Cost Analyst. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Cost Analyst Job Listings
Popular Skills for Cost Analyst
Skills in Data Analysis, Financial Analysis and Cost Accounting are correlated to pay that is above average. Skills that pay less than market rate include Accounting and Microsoft Excel.
Pay by Experience Level for Cost Analyst
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 $50,716 based on 88 salaries. An early career Cost Analyst with 1-4 years of experience earns an average total compensation of $57,217 based on 501 salaries. A mid-career Cost Analyst with 5-9 years of experience earns an average total compensation of $68,561 based on 238 salaries. An experienced Cost Analyst with 10-19 years of experience earns an average total compensation of $73,615 based on 146 salaries. In their late career (20 years and higher), employees earn an average total compensation of $88,973.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Cost Analyst in their job title in Washington, District of Columbia earn an average of 23.7% more than the national average. These job titles also find higher than average salaries in St. Louis, Missouri (21.4% more) and Columbus, Ohio (20.1% more). The lowest salaries can be found in Huntsville, Alabama (5.0% less) and Los Angeles, California (0.9% less).
Years of Experience
This data is based on 1,052 survey responses.
Related Job Salaries
$45k - $80k
$28k - $55k
$32k - $67k
$62k - $100k
$48k - $111k
$39k - $70k
$42k - $83k
$39k - $62k
$54k - $122k
$52k - $84k