Cost controller vs finance controller

The differences between cost controllers and finance controllers 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 controller, becoming a finance controller takes usually requires 6-8 years. Additionally, a finance controller has an average salary of $105,869, which is higher than the $76,697 average annual salary of a cost controller.

The top three skills for a cost controller include project management, cost analysis and financial statements. The most important skills for a finance controller are CPA, payroll, and financial controller.

Cost controller vs finance controller overview

	Cost Controller	Finance Controller
Yearly salary	$76,697	$105,869
Hourly rate	$36.87	$50.90
Growth rate	6%	17%
Number of jobs	17,477	97,342
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 70%	Bachelor's Degree, 70%
Average age	44	46
Years of experience	4	8

What does a cost controller do?

A Cost Controller manages the project costs. Cost Controllers' tasks include developing, controlling, planning, and forecasting the project's budget. They make sure that projects are completed within the approved budget and minimize the deflection from it. Cost Controllers should know about total cost management concepts, budget distribution, and setting a cost limit. They should also know how to detect issues, analyze cost reports, and value management. Being a cost controller also requires skills to effectively communicate the project's cost performance, concerns, and recovery plans to the project team.

What does a finance controller do?

A financial controller is primarily in charge of the daily finance activities and accounting functions of a company. Their responsibilities typically revolve around preparing and organizing financial reports, analyzing data and looking out for any discrepancies or inconsistencies, and overseeing the company's overall revenues and expenditures. A financial controller must also maintain documentation, participate in risk assessment and budgeting activities, and develop strategies for profit growth. Furthermore, one must coordinate with other department staff to ensure accuracy, all while implementing the company's policies and regulations.

Cost controller vs finance controller salary

Cost controllers and finance controllers have different pay scales, as shown below.

	Cost Controller	Finance Controller
Average salary	$76,697	$105,869
Salary range	Between $51,000 And $114,000	Between $71,000 And $156,000
Highest paying City	Sunnyvale, CA	Yonkers, NY
Highest paying state	Massachusetts	New York
Best paying company	NOVA Chemicals	Sage Memorial Hospital
Best paying industry	Energy	Technology

Differences between cost controller and finance controller education

There are a few differences between a cost controller and a finance controller in terms of educational background:

	Cost Controller	Finance Controller
Most common degree	Bachelor's Degree, 70%	Bachelor's Degree, 70%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Cost controller vs finance controller demographics

Here are the differences between cost controllers' and finance controllers' demographics:

	Cost Controller	Finance Controller
Average age	44	46
Gender ratio	Male, 63.2% Female, 36.8%	Male, 61.5% Female, 38.5%
Race ratio	Black or African American, 8.8% Unknown, 4.0% Hispanic or Latino, 11.2% Asian, 13.4% White, 62.2% American Indian and Alaska Native, 0.5%	Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3%
LGBT Percentage	7%	11%

Differences between cost controller and finance controller duties and responsibilities

Cost controller example responsibilities.

Improve project process by developing and implementing cost structure, then manage job-specific code of accounts for WBS approvals.
Manage treasury, open several new accounts, establish new procedures and controls, monitor daily activity.
Prepare monthly write-ups reports for the cost performance and EAC forecast
Identify wrongly charge WBS in order to control the budget release under each WBS element.
Facilitate capital project team's operating expense budgets, forecast, variance comments, accruals, and reporting.
Analyze purchase order commitment to calculate accruals.

Finance controller example responsibilities.

Lead the implementation of a fully integrate ERP system resulting in increase financial integrity.
Supervise a staff of seven in the areas of A/P, A/R, G/L, financial reporting and payroll.
Coordinate annual financial audit with external CPA firm and implement internal controls to satisfy recommendations from auditors.
Develop and implement procedures with internal controls for all financial and operational processes to ensure GAAP compliance.
Prepare all accounts for the month-end closing process and additionally gather information for daily/monthly reconciliations and journal entries.
Work with outside CPA on year-end tax planning; ensure the timely filing and payment of corporate taxes.

Cost controller vs finance controller skills

Common cost controller skills

Project Management, 11%
Cost Analysis, 7%
Financial Statements, 6%
Cost Estimates, 6%
Variance Analysis, 5%
Cost Data, 5%

Common finance controller skills

CPA, 7%
Payroll, 7%
Financial Controller, 7%
GAAP, 5%
General Ledger, 5%
Internal Controls, 5%

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Cost Controller
Cost Controller vs Finance Controller

Updated January 8, 2025

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