Bank accountant vs cost accountant

The differences between bank accountants and cost accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a bank accountant and a cost accountant. Additionally, a cost accountant has an average salary of $60,528, which is higher than the $52,142 average annual salary of a bank accountant.

The top three skills for a bank accountant include reconciliations, general ledger and financial statements. The most important skills for a cost accountant are reconciliations, variance analysis, and GAAP.

Bank accountant vs cost accountant overview

	Bank Accountant	Cost Accountant
Yearly salary	$52,142	$60,528
Hourly rate	$25.07	$29.10
Growth rate	6%	6%
Number of jobs	43,750	39,925
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 72%	Bachelor's Degree, 77%
Average age	44	44
Years of experience	4	4

Bank accountant vs cost accountant salary

Bank accountants and cost accountants have different pay scales, as shown below.

	Bank Accountant	Cost Accountant
Average salary	$52,142	$60,528
Salary range	Between $39,000 And $68,000	Between $45,000 And $81,000
Highest paying City	-	Edison, NJ
Highest paying state	-	New Jersey
Best paying company	-	Google
Best paying industry	-	Energy

Differences between bank accountant and cost accountant education

There are a few differences between a bank accountant and a cost accountant in terms of educational background:

	Bank Accountant	Cost Accountant
Most common degree	Bachelor's Degree, 72%	Bachelor's Degree, 77%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Bank accountant vs cost accountant demographics

Here are the differences between bank accountants' and cost accountants' demographics:

	Bank Accountant	Cost Accountant
Average age	44	44
Gender ratio	Male, 36.9% Female, 63.1%	Male, 52.6% Female, 47.4%
Race ratio	Black or African American, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 14.1% White, 62.2% American Indian and Alaska Native, 0.5%	Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.2% White, 63.7% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between bank accountant and cost accountant duties and responsibilities

Bank accountant example responsibilities.

Manage accounting operations, accounting close, account reporting and reconciliations.
Assist in the creation, verification, and transmission of ACH files.
Collaborate with payroll conversion process from ADP to PeopleSoft; performing parallel testing and confirming accuracy of payroll information in PeopleSoft.
Review of contract documentation to determine billing requirements, reporting requirements and ERP setup for automate invoicing.

Cost accountant example responsibilities.

Manage ledgers and perform month end journal entries.
Manage the payroll with ADP system and account receivable.
Manage costing control as well as accounts payable (A/P) and accounts receivable (A/R).
Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Prepare raw material and WIP inventory reconciliations.
Develop tracking of GAAP inventory valuation for all inventory inherit from the bankrupt former company.

Bank accountant vs cost accountant skills

Common bank accountant skills

Reconciliations, 17%
General Ledger, 16%
Financial Statements, 15%
Financial Reports, 5%
Reconcile General Ledger, 5%
Balance Sheet, 5%

Common cost accountant skills

Reconciliations, 9%
Variance Analysis, 6%
GAAP, 4%
Account Reconciliations, 3%
Cost Analysis, 3%
Financial Analysis, 3%