Cost analyst vs cost accounting manager

The differences between cost analysts and cost accounting managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a cost analyst, becoming a cost accounting manager takes usually requires 6-8 years. Additionally, a cost accounting manager has an average salary of $89,286, 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 cost accounting manager are variance analysis, financial analysis, and reconciliations.

Cost analyst vs cost accounting manager overview

	Cost Analyst	Cost Accounting Manager
Yearly salary	$54,158	$89,286
Hourly rate	$26.04	$42.93
Growth rate	3%	17%
Number of jobs	60,034	61,135
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 74%	Bachelor's Degree, 78%
Average age	47	46
Years of experience	4	8

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 cost accounting manager do?

A cost accounting manager is responsible for analyzing and evaluating pricing and costing systems of the goods and services of an organization, ensuring its adherence to the internal guidelines and state regulations. Cost accounting managers review business and financial transactions to generate accounting reports for management reference. They also identify business opportunities that would provide revenue resources and profits by monitoring industry trends and public demands. A cost accounting manager must have excellent analytical skills and accounting principles knowledge, especially in resolving account and expense discrepancies.

Cost analyst vs cost accounting manager salary

Cost analysts and cost accounting managers have different pay scales, as shown below.

	Cost Analyst	Cost Accounting Manager
Average salary	$54,158	$89,286
Salary range	Between $39,000 And $73,000	Between $67,000 And $118,000
Highest paying City	Washington, DC	Boston, MA
Highest paying state	Virginia	Connecticut
Best paying company	General Motors	Microsoft
Best paying industry	Automotive	Manufacturing

Differences between cost analyst and cost accounting manager education

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

	Cost Analyst	Cost Accounting Manager
Most common degree	Bachelor's Degree, 74%	Bachelor's Degree, 78%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Cost analyst vs cost accounting manager demographics

Here are the differences between cost analysts' and cost accounting managers' demographics:

	Cost Analyst	Cost Accounting Manager
Average age	47	46
Gender ratio	Male, 54.2% Female, 45.8%	Male, 71.7% Female, 28.3%
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, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 9.2% White, 64.2% American Indian and Alaska Native, 0.3%
LGBT Percentage	13%	11%

Differences between cost analyst and cost accounting manager 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.

Cost accounting manager example responsibilities.

Manage the monthly analysis of variances which include PPV, MUV, substitution and labor.
Lead ERP system integration team and restructure manufacturing accounting system of newly acquire facility.
Manage payroll and all taxation matters, coordinate independent audit; communicate with outside organizations and agencies.
Direct the development, administration, and standards necessary to maintain financial controls in compliance with GAAP and SOX.
Provide financial management of inventories for multiple facilities to include book-to-physical account reconciliations, inventory projections and reduction plans.
Maintain standard cost integrity including annual standard changes, inventory valuation, monthly closings, account reconciliations and annual budgeting.

Cost analyst vs cost accounting manager skills

Common cost analyst skills

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

Common cost accounting manager skills

Variance Analysis, 5%
Financial Analysis, 5%
Reconciliations, 4%
Financial Reports, 4%
Product Cost, 4%
ERP, 4%

Cost Analyst vs. similar jobs

Cost Analyst related careers

Cost Analyst related jobs

What similar roles do

Zippia Careers
Business and Financial Industry
Cost Analyst
Cost Analyst vs Cost Accounting Manager

Updated January 8, 2025

Browse business and financial jobs