Fiscal analyst vs cost analyst

The differences between fiscal analysts and cost 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 fiscal analyst and a cost analyst. Additionally, a cost analyst has an average salary of $54,158, which is higher than the $51,960 average annual salary of a fiscal analyst.

The top three skills for a fiscal analyst include payroll, financial data and management system. The most important skills for a cost analyst are cost analysis, financial analysis, and cost estimates.

Fiscal analyst vs cost analyst overview

	Fiscal Analyst	Cost Analyst
Yearly salary	$51,960	$54,158
Hourly rate	$24.98	$26.04
Growth rate	6%	3%
Number of jobs	37,053	60,034
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 66%	Bachelor's Degree, 74%
Average age	44	47
Years of experience	4	4

What does a fiscal analyst do?

A fiscal analyst specializes in providing analytical services to help companies monitor and develop budgets and financial activities. Their responsibilities include gathering and analyzing financial data, conducting market research and analysis, arranging spreadsheets, updating databases, and producing regular budget reports and forecasts. To carry out their duties, they typically use special software and programs, coordinate with various departments, and have knowledge in court collections. Moreover, a fiscal analyst may assist staff, all while implementing the company's policies and regulations.

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.

Fiscal analyst vs cost analyst salary

Fiscal analysts and cost analysts have different pay scales, as shown below.

	Fiscal Analyst	Cost Analyst
Average salary	$51,960	$54,158
Salary range	Between $35,000 And $75,000	Between $39,000 And $73,000
Highest paying City	Santa Rosa, CA	Washington, DC
Highest paying state	New Jersey	Virginia
Best paying company	Jacobs Engineering Group	General Motors
Best paying industry	Health Care	Automotive

Differences between fiscal analyst and cost analyst education

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

	Fiscal Analyst	Cost Analyst
Most common degree	Bachelor's Degree, 66%	Bachelor's Degree, 74%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Fiscal analyst vs cost analyst demographics

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

	Fiscal Analyst	Cost Analyst
Average age	44	47
Gender ratio	Male, 39.4% Female, 60.6%	Male, 54.2% Female, 45.8%
Race ratio	Black or African American, 8.5% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 12.2% White, 64.1% American Indian and Alaska Native, 0.5%	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%
LGBT Percentage	7%	13%

Differences between fiscal analyst and cost analyst duties and responsibilities

Fiscal analyst example responsibilities.

Manage the UW system approvals such as eProcurement including pro-cards, CTA and ARIBA transactions.
Manage budget submissions by subsidiaries in Europe/AFNE region in Hyperion.
Develop fiscal reports for initiatives for state legislature concerning the Medicare and Medicaid programs.
Maintain GAAP and SAAM through careful examination of request employee and vendor reimbursements.
Prepare periodic general ledger balance sheet account reconciliations, as well as adjusting entries relate to the reconciliations.
Implement in house databases in order to analyze Medicaid disbursements by region

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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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Fiscal analyst vs cost analyst skills

Common fiscal analyst skills

Payroll, 9%
Financial Data, 7%
Management System, 5%
GAAP, 5%
Financial Statements, 5%
Reconciliations, 5%

Common cost analyst skills

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

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Updated January 8, 2025

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