Budget officer vs cost analyst

The differences between budget officers and cost analysts 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 officer and a cost analyst. Additionally, a budget officer has an average salary of $59,780, which is higher than the $54,158 average annual salary of a cost analyst.

The top three skills for a budget officer include financial management, oversight and budget formulation. The most important skills for a cost analyst are cost analysis, financial analysis, and cost estimates.

Budget officer vs cost analyst overview

	Budget Officer	Cost Analyst
Yearly salary	$59,780	$54,158
Hourly rate	$28.74	$26.04
Growth rate	3%	3%
Number of jobs	56,413	60,034
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 70%	Bachelor's Degree, 74%
Average age	47	47
Years of experience	4	4

Budget officer vs cost analyst salary

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

	Budget Officer	Cost Analyst
Average salary	$59,780	$54,158
Salary range	Between $37,000 And $94,000	Between $39,000 And $73,000
Highest paying City	Washington, DC	Washington, DC
Highest paying state	California	Virginia
Best paying company	Michigan State University	General Motors
Best paying industry	Government	Automotive

Differences between budget officer and cost analyst education

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

	Budget Officer	Cost Analyst
Most common degree	Bachelor's Degree, 70%	Bachelor's Degree, 74%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Budget officer vs cost analyst demographics

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

	Budget Officer	Cost Analyst
Average age	47	47
Gender ratio	Male, 58.7% Female, 41.3%	Male, 54.2% Female, 45.8%
Race ratio	Black or African American, 12.4% Unknown, 4.7% Hispanic or Latino, 15.3% Asian, 7.9% White, 58.8% American Indian and Alaska Native, 1.0%	Black or African American, 10.1% Unknown, 4.7% Hispanic or Latino, 16.1% Asian, 8.6% White, 59.5% American Indian and Alaska Native, 1.0%
LGBT Percentage	13%	13%

Differences between budget officer and cost analyst duties and responsibilities

Budget officer example responsibilities.

Manage accounting data of expenditures in ledgers; ensure all transactions are re-serve for obligation.
Perform manpower and payroll analysis.
Maintain appropriate controls over payroll processes and disbursements.
Review commitments, obligations and expenditures and reconcile monthly reports on transactions process in DoD accounting systems.
Prepare the monthly financial statements in accordance with GAAP and the monthly Asset/Liability management reports.
Utilize agency allocation letters, spending plans and FTE utilization are develop within funding resources.

Cost analyst example responsibilities.

Manage general ledger expense accounts assign to ERP implementation project.
Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
Perform cost control, revenue analysis and variance analysis for several DOD contracts.
Identify parts that need to be realign to correct WBS s in order to bring costs inline.
Ensure that purchase orders and work orders are setup in accordance with establish DuPont procedures and appropriate WBS structures.
Perform fixed asset and manufacturing accounting within ERP system.

Budget officer vs cost analyst skills

Common budget officer skills

Financial Management, 10%
Oversight, 9%
Budget Formulation, 5%
Budget Process, 5%
Financial Analysis, 5%
Financial Resources, 4%

Common cost analyst skills

Cost Analysis, 8%
Financial Analysis, 6%
Cost Estimates, 6%
Data Analysis, 4%
DOD, 4%
Variance Analysis, 4%