Find The Best Senior Cost Analyst Jobs For You

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Average Salary
$75,577
Average Salary
Job Growth Rate
4%
Job Growth Rate
Job Openings
23,010
Job Openings

Senior Cost Analyst Careers

Senior cost analysts are professionals who manage the finances and budget for various construction projects. For example, a senior cost analyst who works for a construction company is responsible for estimating the cost, time, materials, equipment, and labor needed for a particular construction project.

They manage other analysts to conduct cost analyses, determine the duration of a project, hire vendors and contractors, and make sure that the project deadlines are met promptly. These professionals also manage groups who prepare estimates to meet project goals, set staff work hours, and research project documents, and analyze specifications.

A senior cost analyst typically works in an office environment during normal work hours and has excellent management, communication, analytical and organizational skills. These individuals are adept at negotiating with vendors, staff, upper management and contractors, and can coordinate projects and make accurate time and cost estimates. Senior cost analysts also formulate contingency plans in the event of construction issues and effectively manages risks that may impact cost and time estimates.

Depending on the industry, many senior cost analysts have a bachelor's or an advanced degree in finance, marketing, or a comparable field. However, an advanced degree is not a critical requirement if the individual has comparable knowledge and experience. Most senior cost analysts can make up to $78,000 per year, and the job market for this field is estimated to grow 9% in the US by 2029.

There is more than meets the eye when it comes to being a senior cost analyst. For example, did you know that they make an average of $36.34 an hour? That's $75,577 a year!

Between 2018 and 2028, the career is expected to grow 4% and produce 2,400 job opportunities across the U.S.

What Does a Senior Cost Analyst Do

There are certain skills that many senior cost analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed writing skills, analytical skills and communication skills.

When it comes to the most important skills required to be a senior cost analyst, we found that a lot of resumes listed 17.8% of senior cost analysts included financial statements, while 6.5% of resumes included cost analysis, and 5.0% of resumes included cost estimates. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the senior cost analyst job title. But what industry to start with? Most senior cost analysts actually find jobs in the manufacturing and technology industries.

How To Become a Senior Cost Analyst

If you're interested in becoming a senior cost analyst, one of the first things to consider is how much education you need. We've determined that 75.4% of senior cost analysts have a bachelor's degree. In terms of higher education levels, we found that 15.0% of senior cost analysts have master's degrees. Even though most senior cost analysts have a college degree, it's impossible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a senior cost analyst. When we researched the most common majors for a senior cost analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on senior cost analyst resumes include associate degree degrees or diploma degrees.

You may find that experience in other jobs will help you become a senior cost analyst. In fact, many senior cost analyst jobs require experience in a role such as cost accountant. Meanwhile, many senior cost analysts also have previous career experience in roles such as cost analyst or senior finance analyst.

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Average Salary
$75,577
Average Salary
Job Growth Rate
4%
Job Growth Rate
Job Openings
23,010
Job Openings

Senior Cost Analyst Career Paths

Top Careers Before Senior Cost Analyst

Top Careers After Senior Cost Analyst

Senior Cost Analyst Jobs You Might Like

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Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Senior Cost Analyst

Senior Cost Analysts in America make an average salary of $75,577 per year or $36 per hour. The top 10 percent makes over $97,000 per year, while the bottom 10 percent under $58,000 per year.
Average Salary
$75,577
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Best Paying Cities

City
ascdesc
Average Salarydesc
Washington, DC
Salary Range78k - 119k$97k$97,112
San Francisco, CA
Salary Range68k - 111k$88k$87,621
Bridgewater, NJ
Salary Range61k - 94k$76k$76,153
New York, NY
Salary Range59k - 92k$75k$74,596
Detroit, MI
Salary Range59k - 91k$74k$74,147
Houston, TX
Salary Range52k - 81k$66k$65,571
$47k
$119k

Recently Added Salaries

Job TitleCompanyascdescCompanyascdescStart DateascdescSalaryascdesc
SR. Cost Analyst
SR. Cost Analyst
Randstad
Randstad
01/27/2021
01/27/2021
$93,91501/27/2021
$93,915
SR Cost Analyst
SR Cost Analyst
Robert Half
Robert Half
01/12/2021
01/12/2021
$75,00001/12/2021
$75,000
SR Principal Cost/Price Analyst (SR. Principal Supply Chain Subcontracts Specialist)
SR Principal Cost/Price Analyst (SR. Principal Supply Chain Subcontracts Specialist)
Northrop Grumman
Northrop Grumman
12/18/2020
12/18/2020
$89,52812/18/2020
$89,528
Senior Cost Analyst
Senior Cost Analyst
Robert Half
Robert Half
11/18/2020
11/18/2020
$60,00011/18/2020
$60,000
Senior Cost/Proposal Analyst
Senior Cost/Proposal Analyst
Robert Half
Robert Half
10/20/2020
10/20/2020
$90,00010/20/2020
$90,000
See More Recent Salaries

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Senior Cost Analyst Demographics

Gender

male

60.6 %

female

35.8 %

unknown

3.5 %

Ethnicity

White

61.3 %

Hispanic or Latino

14.6 %

Black or African American

14.0 %

Foreign Languages Spoken

Spanish

50.0 %

Portuguese

13.6 %

German

6.8 %
See More Demographics

Senior Cost Analyst Education

Majors

Business
29.7 %
Finance
13.1 %

Degrees

Bachelors

75.4 %

Masters

15.0 %

Associate

4.6 %

Top Colleges for Senior Cost Analysts

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Public

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Public

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Public

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
See More Education Info

Online Courses For Senior Cost Analyst That You May Like

Cost Accounting: Introduction to Management Accounting
udemy
4.4
(705)

Learn Cost Accounting for Management. Includes Process Costing, ABC Systems, Variance Analysis, Cash Budgets and more...

Managerial Accounting / Cost Accounting
udemy
4.4
(639)

Managerial and cost accounting comprehensive course taught bay a practicing Certified Public Accountant (CPA)...

Cost Accounting - A Comprehensive Study for CA/CMA/CS /ACCA/
udemy
4.2
(274)

Learn basic to advanced concepts in Cost Accounting comprehensively...

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Top Skills For a Senior Cost Analyst

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 17.8% of senior cost analysts listed financial statements on their resume, but soft skills such as writing skills and analytical skills are important as well.

Best States For a Senior Cost Analyst

Some places are better than others when it comes to starting a career as a senior cost analyst. The best states for people in this position are Virginia, West Virginia, California, and Massachusetts. Senior cost analysts make the most in Virginia with an average salary of $84,355. Whereas in West Virginia and California, they would average $80,707 and $79,256, respectively. While senior cost analysts would only make an average of $78,640 in Massachusetts, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. District of Columbia

Total Senior Cost Analyst Jobs:
473
Highest 10% Earn:
$144,000
Location Quotient:
3
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Virginia

Total Senior Cost Analyst Jobs:
1,388
Highest 10% Earn:
$124,000
Location Quotient:
1.57
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Colorado

Total Senior Cost Analyst Jobs:
782
Highest 10% Earn:
$112,000
Location Quotient:
1.4
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Top Senior Cost Analyst Employers

1. Lockheed Martin
4.9
Avg. Salary: 
$75,485
Senior Cost Analysts Hired: 
65+
2. Robert Half International
4.5
Avg. Salary: 
$80,048
Senior Cost Analysts Hired: 
18+
3. Raytheon Company
4.7
Avg. Salary: 
$76,700
Senior Cost Analysts Hired: 
17+
4. MCR
3.8
Avg. Salary: 
$63,750
Senior Cost Analysts Hired: 
14+
5. Abbott
4.9
Avg. Salary: 
$86,153
Senior Cost Analysts Hired: 
13+
6. CALIBRE
4.3
Avg. Salary: 
$76,512
Senior Cost Analysts Hired: 
9+

Senior Cost Analyst Videos

Updated October 2, 2020