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The differences between senior cost analysts and senior accountants 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 cost analyst and a senior accountant. Additionally, a senior cost analyst has an average salary of $77,845, which is higher than the $71,967 average annual salary of a senior accountant.
The top three skills for a senior cost analyst include financial analysis, cost analysis and cost estimates. The most important skills for a senior accountant are reconciliations, CPA, and GAAP.
| Senior Cost Analyst | Senior Accountant | |
| Yearly salary | $77,845 | $71,967 |
| Hourly rate | $37.43 | $34.60 |
| Growth rate | 3% | 6% |
| Number of jobs | 53,872 | 76,816 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 78% |
| Average age | 47 | 44 |
| Years of experience | 4 | 4 |
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 senior accountant is responsible for organizing financial reports, analyzing cost estimates, reviewing budget goals regularly, and making adjustments with the company's account statements as necessary. Senior accountants' duties also include managing account reconciliations, preparing tax documents, maintaining audit records and balance sheets, generating invoices, and providing recommendations to minimize possible financial loss. A senior accountant must have excellent analytical and critical-thinking skills and extensive knowledge of accounting and financial principles.
Senior cost analysts and senior accountants have different pay scales, as shown below.
| Senior Cost Analyst | Senior Accountant | |
| Average salary | $77,845 | $71,967 |
| Salary range | Between $57,000 And $105,000 | Between $55,000 And $92,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | California | New York |
| Best paying company | Apple | |
| Best paying industry | Automotive | Finance |
There are a few differences between a senior cost analyst and a senior accountant in terms of educational background:
| Senior Cost Analyst | Senior Accountant | |
| 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 senior accountants' demographics:
| Senior Cost Analyst | Senior Accountant | |
| Average age | 47 | 44 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 46.9% Female, 53.1% |
| 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, 8.5% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 14.5% White, 61.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 13% | 7% |