The average salary for a Cost Analyst at Northrop Grumman Corporation is $69,365.
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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 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 Booz, Allen, and Hamilton, Tecolote Research, Inc. and Monsanto Company. 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 $73,141 and $72,589, respectively. Tecolote Research, Inc. pays the lowest at around $49,480. Docler Holding and Bank of Oklahoma, N.A. also pay on the lower end of the scale, paying $59,352 and $61,762, respectively.
Cost Analyst Job Listings
What Are Popular Skills for Cost Analysts?
Skills in Microsoft Excel are correlated to pay that is above average. Skills that pay less than market rate include Forecasting, Cost Accounting, Data Analysis and Financial Analysis.
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 $66,326 based on 26 salaries. A mid-career Cost Analyst with 5-9 years of experience earns an average total compensation of $84,964 based on 10 salaries.
Pay Difference by Location
Employees with Cost Analyst in their job title in San Diego, California earn an average of 6.7% more than the national average. These job titles also find higher than average salaries in Redondo Beach, California (3.9% more). The lowest salaries can be found in Melbourne, Florida (9.1% less).
Years of Experience
This data is based on 36 survey responses.