Avg. Base Salary (USD)
The average salary for a Cost Analyst is $75,880 in 2024
What is the Pay by Experience Level for Cost Analysts?
An early career Cost Analyst with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $74,932 based on 20 salaries. A mid-career Cost Analyst with 5-9 years of experience earns an average total compensation of $88,437 based on 12 salaries.
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
FAQs About Cost Analysts
What is the highest pay for Cost Analysts?
Our data indicates that the highest pay for a Cost Analyst is $92k / year
What is the lowest pay for Cost Analysts?
Our data indicates that the lowest pay for a Cost Analyst is $59k / year
How can Cost Analysts increase their salary?
Increasing your pay as a Cost Analyst is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are a Cost Analyst that oversees more junior Cost Analysts, this experience can increase the likelihood to earn more.