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The differences between program finance 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 program finance analyst and a cost analyst. Additionally, a program finance analyst has an average salary of $57,254, which is higher than the $54,158 average annual salary of a cost analyst.
The top three skills for a program finance analyst include financial analysis, variance analysis and program management. The most important skills for a cost analyst are cost analysis, financial analysis, and cost estimates.
| Program Finance Analyst | Cost Analyst | |
| Yearly salary | $57,254 | $54,158 |
| Hourly rate | $27.53 | $26.04 |
| Growth rate | 9% | 3% |
| Number of jobs | 154,305 | 60,034 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 74% |
| Average age | 40 | 47 |
| Years of experience | 4 | 4 |
A program finance analyst is an individual who supports the execution of program financial services to ensure effective and transparent utilization of financial resources. Program finance analysts must obtain and compile information regarding the credit history of loan applicants, corporate financial statements, and other financial information. They communicate with faculty members and business administrators about the company's financial status and provide recommendations for strategic planning. Program finance analysts must also monitor the financial performance of a project and provide analysis for project managers concerning burn rates and potential overruns.
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.
Program finance analysts and cost analysts have different pay scales, as shown below.
| Program Finance Analyst | Cost Analyst | |
| Average salary | $57,254 | $54,158 |
| Salary range | Between $42,000 And $76,000 | Between $39,000 And $73,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | California | Virginia |
| Best paying company | Microsoft | General Motors |
| Best paying industry | Technology | Automotive |
There are a few differences between a program finance analyst and a cost analyst in terms of educational background:
| Program Finance Analyst | Cost Analyst | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between program finance analysts' and cost analysts' demographics:
| Program Finance Analyst | Cost Analyst | |
| Average age | 40 | 47 |
| Gender ratio | Male, 53.5% Female, 46.5% | Male, 54.2% Female, 45.8% |
| Race ratio | 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% | 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% |