Cost analyst vs control analyst

The differences between cost analysts and control 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 cost analyst and a control analyst. Additionally, a control analyst has an average salary of $69,598, which is higher than the $54,158 average annual salary of a cost analyst.

The top three skills for a cost analyst include cost analysis, financial analysis and cost estimates. The most important skills for a control analyst are internal controls, risk assessments, and SOX.

Cost analyst vs control analyst overview

	Cost Analyst	Control Analyst
Yearly salary	$54,158	$69,598
Hourly rate	$26.04	$33.46
Growth rate	3%	11%
Number of jobs	60,034	133,321
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 74%	Bachelor's Degree, 69%
Average age	47	44
Years of experience	4	4

What does a cost analyst do?

Cost Analysts are employees with a strong background in finance or accounting. They are in charge of collecting financial data and analyzing the entries. They study the company's expenses and prepare pertinent reports. Cost Analysts look for inconsistencies in the financial data. This way, they can assist in auditing the company's spending. Cost Analysts also look for inefficiencies. They do so by tracking item costs and department budgets and monitoring department expenses. They are also involved in budget-setting activities.

What does a control analyst do?

A control analyst is an individual who is responsible for identifying weaknesses in the work process of an organization and implement methods to minimize risks. Control analysts are required to supervise the process for incident reports and provide technical guidance to their personnel. They must prepare monthly general ledger account analysis and balance sheets reconciliations that are according to the generally accepted accounting principles (GAAP). Control analysts should also assist with the organization's ISO audit procedures and findings.

Cost analyst vs control analyst salary

Cost analysts and control analysts have different pay scales, as shown below.

	Cost Analyst	Control Analyst
Average salary	$54,158	$69,598
Salary range	Between $39,000 And $73,000	Between $50,000 And $95,000
Highest paying City	Washington, DC	Jersey City, NJ
Highest paying state	Virginia	Washington
Best paying company	General Motors	Meta
Best paying industry	Automotive	Energy

Differences between cost analyst and control analyst education

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

	Cost Analyst	Control Analyst
Most common degree	Bachelor's Degree, 74%	Bachelor's Degree, 69%
Most common major	Business	Business
Most common college	University of Pennsylvania	Northwestern University

Cost analyst vs control analyst demographics

Here are the differences between cost analysts' and control analysts' demographics:

	Cost Analyst	Control Analyst
Average age	47	44
Gender ratio	Male, 54.2% Female, 45.8%	Male, 51.9% Female, 48.1%
Race ratio	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%	Black or African American, 8.3% Unknown, 4.5% Hispanic or Latino, 9.0% Asian, 11.7% White, 66.3% American Indian and Alaska Native, 0.2%
LGBT Percentage	13%	12%

Differences between cost analyst and control analyst duties and responsibilities

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.

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Control analyst example responsibilities.

Manage the implementation and roll-out of SharePoint as a team collaboration and document management tool.
Develop infrastructure to enable clients to better understand and manage risks associate with their decision environment to capture opportunities.
Transform the month-end calculation methodology and analysis process to provide a more accurate and detail fuel accruals and variance analysis.
Assist in SQL database applications development custom tailor for company s needs.
Provide ad hoc queries as requested by various areas within the bank (SQL).
Conduct UAT to make sure that all applications are tested for functionality and are adequately accept by users.

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Cost analyst vs control analyst skills

Common cost analyst skills

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

Common control analyst skills

Internal Controls, 8%
Risk Assessments, 6%
SOX, 5%
Internal Audit, 4%
Customer Service, 4%
Strong Analytical, 4%

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Updated January 8, 2025

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