Budget analyst vs cost accountant

The differences between budget analysts 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 budget analyst and a cost accountant. Additionally, a cost accountant has an average salary of $60,528, which is higher than the $56,598 average annual salary of a budget analyst.

The top three skills for a budget analyst include financial management, budget analysis and financial reports. The most important skills for a cost accountant are reconciliations, variance analysis, and GAAP.

Budget analyst vs cost accountant overview

	Budget Analyst	Cost Accountant
Yearly salary	$56,598	$60,528
Hourly rate	$27.21	$29.10
Growth rate	3%	6%
Number of jobs	50,081	39,925
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 70%	Bachelor's Degree, 77%
Average age	47	44
Years of experience	4	4

What does a budget analyst do?

A budget analyst supports organizations and businesses by organizing their financial resources to develop and execute budgets for them. A budget analyst is also responsible for evaluating budget proposals, analyzing data, extra funds redistribution, recommending spending cuts, preparing reports annually, and estimating spending requirements in the future. A budget analyst explores alternative funding methods and uses cost-benefit analyses. In addition, budget analysts also look at past budgets and research any financial developments that could affect income and expenditures.

What does a cost accountant do?

A cost accountant specializes in determining the total cost incurred by a company from producing goods and services. Through the various financial data they collect, the cost accountant will devise plans and strategies that will be a vital factor in the next budget and marketing preparations of a company. Aside from this, a cost accountant is responsible for various tasks such as conducting research and analysis in different areas, keeping financial records and inventory, producing financial reports involving profitability and expenditures, and proposing a budget and other financial plans.

Budget analyst vs cost accountant salary

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

	Budget Analyst	Cost Accountant
Average salary	$56,598	$60,528
Salary range	Between $42,000 And $76,000	Between $45,000 And $81,000
Highest paying City	Washington, DC	Edison, NJ
Highest paying state	Virginia	New Jersey
Best paying company	Shenzhen Capital Group	Google
Best paying industry	Government	Energy

Differences between budget analyst and cost accountant education

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

	Budget Analyst	Cost Accountant
Most common degree	Bachelor's Degree, 70%	Bachelor's Degree, 77%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Budget analyst vs cost accountant demographics

Here are the differences between budget analysts' and cost accountants' demographics:

	Budget Analyst	Cost Accountant
Average age	47	44
Gender ratio	Male, 45.7% Female, 54.3%	Male, 52.6% Female, 47.4%
Race ratio	Black or African American, 12.4% Unknown, 4.7% Hispanic or Latino, 15.3% Asian, 8.9% White, 57.7% American Indian and Alaska Native, 1.0%	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	13%	7%

Differences between budget analyst and cost accountant duties and responsibilities

Budget analyst example responsibilities.

Write and document SAS, SPSS and SQL programs to automate standard processes.
Manage accounting data of expenditures in ledgers; ensure all transactions are re-serve for obligation.
Manage virtual war room database and prepare advanced PowerPoint presentations for high-level briefings.
Manage credit card revenue reporting and reconciliations for multiple credit card merchant accounts which include recommending and implementing process improvements.
Provide corporate financial support services for multiple contracts and various contract types (FFP, CPFF, CPAF, etc . )
Prepare and present EAC projections, customer financial reports, and documents for program reviews.

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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.

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Budget analyst vs cost accountant skills

Common budget analyst skills

Financial Management, 8%
Budget Analysis, 6%
Financial Reports, 5%
Financial Data, 4%
PowerPoint, 4%
Budget Estimates, 3%

Common cost accountant skills

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

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Updated January 8, 2025

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