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The differences between cost analysts and corporate finance 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 corporate finance analyst. Additionally, a corporate finance analyst has an average salary of $76,023, 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 corporate finance analyst are financial analysis, strong analytical, and financial models.
| Cost Analyst | Corporate Finance Analyst | |
| Yearly salary | $54,158 | $76,023 |
| Hourly rate | $26.04 | $36.55 |
| Growth rate | 3% | 9% |
| Number of jobs | 60,034 | 114,375 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 76% |
| Average age | 47 | 40 |
| Years of experience | 4 | 4 |
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.
Corporate finance analysts make significant business decisions based on the data they gather. Typically, corporate finance analysts work within an organization and support management decisions through actionable financial information. They monitor the taxes, expenses, financial statements, and other financial details of where the company sources its income. This position requires a formal qualification in accounting. It also necessitates the analyst to develop interpersonal skills, knowledge in information technology software, financial reporting skills, and experience in management.
Cost analysts and corporate finance analysts have different pay scales, as shown below.
| Cost Analyst | Corporate Finance Analyst | |
| Average salary | $54,158 | $76,023 |
| Salary range | Between $39,000 And $73,000 | Between $52,000 And $109,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | Virginia | Michigan |
| Best paying company | General Motors | |
| Best paying industry | Automotive | Finance |
There are a few differences between a cost analyst and a corporate finance analyst in terms of educational background:
| Cost Analyst | Corporate Finance Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between cost analysts' and corporate finance analysts' demographics:
| Cost Analyst | Corporate Finance Analyst | |
| Average age | 47 | 40 |
| Gender ratio | Male, 54.2% Female, 45.8% | Male, 63.5% Female, 36.5% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 13% | 7% |