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The differences between senior budget analysts and senior 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 senior budget analyst and a senior cost analyst. Additionally, a senior cost analyst has an average salary of $77,845, which is higher than the $69,249 average annual salary of a senior budget analyst.
The top three skills for a senior budget analyst include financial management, powerpoint and financial analysis. The most important skills for a senior cost analyst are financial analysis, cost analysis, and cost estimates.
| Senior Budget Analyst | Senior Cost Analyst | |
| Yearly salary | $69,249 | $77,845 |
| Hourly rate | $33.29 | $37.43 |
| Growth rate | 3% | 3% |
| Number of jobs | 43,424 | 53,872 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 78% |
| Average age | 47 | 47 |
| Years of experience | 4 | 4 |
A senior budget analyst analyzes the finances of their company. They monitor their company's financial data to gain new insights to make a profit. They create budgets for departments, increase the efficiency of company systems, and prepare reports and financial statements.
Senior cost analysts are lead professionals who collaborate with a variety of departments to gather financial data and perform analysis to uncover inefficiencies. These analysts are required to develop accurate cost estimates that are used in producing pricing quotations on products and programs. They must utilize the enterprise resource planning (ERP) business system to track the quotation process and maintain standard costs through cost roll activities. Senior cost analysts must also collaborate with managers to facilitate initiatives and projects that are cost-saving.
Senior budget analysts and senior cost analysts have different pay scales, as shown below.
| Senior Budget Analyst | Senior Cost Analyst | |
| Average salary | $69,249 | $77,845 |
| Salary range | Between $45,000 And $105,000 | Between $57,000 And $105,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | New Jersey | California |
| Best paying company | Brookhaven National Laboratory | Apple |
| Best paying industry | Government | Automotive |
There are a few differences between a senior budget analyst and a senior cost analyst in terms of educational background:
| Senior Budget Analyst | Senior Cost Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 78% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior budget analysts' and senior cost analysts' demographics:
| Senior Budget Analyst | Senior Cost Analyst | |
| Average age | 47 | 47 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 63.5% Female, 36.5% |
| Race ratio | Black or African American, 12.9% Unknown, 4.7% Hispanic or Latino, 15.3% Asian, 8.5% White, 57.5% American Indian and Alaska Native, 1.0% | Black or African American, 10.1% Unknown, 4.5% Hispanic or Latino, 15.6% Asian, 7.9% White, 60.8% American Indian and Alaska Native, 1.0% |
| LGBT Percentage | 13% | 13% |