Avg. Base Salary (USD)
The average salary for a Cost Analyst is $70,181
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 $68,294 based on 21 salaries. A mid-career Cost Analyst with 5-9 years of experience earns an average total compensation of $85,000 based on 5 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
- 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.