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The differences between cost analysts and revenue 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 revenue analyst. Additionally, a revenue analyst has an average salary of $66,985, 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 revenue analyst are revenue cycle, customer service, and patients.
| Cost Analyst | Revenue Analyst | |
| Yearly salary | $54,158 | $66,985 |
| Hourly rate | $26.04 | $32.20 |
| Growth rate | 3% | 9% |
| Number of jobs | 60,034 | 65,034 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 69% |
| 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.
A revenue analyst is primarily in charge of analyzing a company's revenues and expenditures to help them make better business decisions. Their responsibilities revolve around tracking the company finances, gathering and recording data, producing progress reports, and identifying opportunities to boost sales and profits. There are also instances when a revenue analyst must devise plans to cut costs, recommend budgets, build models, develop revenue forecasts, and comply with the laws and regulations. Furthermore, it is also essential to implement the company's policies and guidelines to the team and every task involved.
Cost analysts and revenue analysts have different pay scales, as shown below.
| Cost Analyst | Revenue Analyst | |
| Average salary | $54,158 | $66,985 |
| Salary range | Between $39,000 And $73,000 | Between $48,000 And $91,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | Virginia | California |
| Best paying company | General Motors | |
| Best paying industry | Automotive | Technology |
There are a few differences between a cost analyst and a revenue analyst in terms of educational background:
| Cost Analyst | Revenue Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between cost analysts' and revenue analysts' demographics:
| Cost Analyst | Revenue Analyst | |
| Average age | 47 | 40 |
| Gender ratio | Male, 54.2% Female, 45.8% | Male, 42.3% Female, 57.7% |
| 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% |