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The differences between senior cost analysts and cost accounting managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a senior cost analyst, becoming a cost accounting manager takes usually requires 6-8 years. Additionally, a cost accounting manager has an average salary of $89,286, which is higher than the $77,845 average annual salary of a senior cost analyst.
The top three skills for a senior cost analyst include financial analysis, cost analysis and cost estimates. The most important skills for a cost accounting manager are variance analysis, financial analysis, and reconciliations.
| Senior Cost Analyst | Cost Accounting Manager | |
| Yearly salary | $77,845 | $89,286 |
| Hourly rate | $37.43 | $42.93 |
| Growth rate | 3% | 17% |
| Number of jobs | 53,872 | 61,135 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 78% |
| Average age | 47 | 46 |
| Years of experience | 4 | 8 |
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.
A cost accounting manager is responsible for analyzing and evaluating pricing and costing systems of the goods and services of an organization, ensuring its adherence to the internal guidelines and state regulations. Cost accounting managers review business and financial transactions to generate accounting reports for management reference. They also identify business opportunities that would provide revenue resources and profits by monitoring industry trends and public demands. A cost accounting manager must have excellent analytical skills and accounting principles knowledge, especially in resolving account and expense discrepancies.
Senior cost analysts and cost accounting managers have different pay scales, as shown below.
| Senior Cost Analyst | Cost Accounting Manager | |
| Average salary | $77,845 | $89,286 |
| Salary range | Between $57,000 And $105,000 | Between $67,000 And $118,000 |
| Highest paying City | Washington, DC | Boston, MA |
| Highest paying state | California | Connecticut |
| Best paying company | Apple | Microsoft |
| Best paying industry | Automotive | Manufacturing |
There are a few differences between a senior cost analyst and a cost accounting manager in terms of educational background:
| Senior Cost Analyst | Cost Accounting Manager | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 78% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior cost analysts' and cost accounting managers' demographics:
| Senior Cost Analyst | Cost Accounting Manager | |
| Average age | 47 | 46 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 71.7% Female, 28.3% |
| Race ratio | 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% | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 9.2% White, 64.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 13% | 11% |