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The differences between senior cost analysts and senior 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 cost analyst and a senior analyst. Additionally, a senior analyst has an average salary of $84,799, 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 senior analyst are analytics, data analysis, and tableau.
| Senior Cost Analyst | Senior Analyst | |
| Yearly salary | $77,845 | $84,799 |
| Hourly rate | $37.43 | $40.77 |
| Growth rate | 3% | 11% |
| Number of jobs | 53,872 | 159,807 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 68% |
| 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 analyst's responsibilities will vary in every organization or industry. However, their primary role is to gain an understanding of a company's strengths and weaknesses. Through this, they can devise strategies and determine new opportunities that would be significant in attaining financial gains and a more substantial client base. Furthermore, it is a senior analyst's responsibility to coordinate with various departments, and even clients, to establish a rapport that will be essential in gaining the needed information to catapult a company to its finest.
Senior cost analysts and senior analysts have different pay scales, as shown below.
| Senior Cost Analyst | Senior Analyst | |
| Average salary | $77,845 | $84,799 |
| Salary range | Between $57,000 And $105,000 | Between $63,000 And $112,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | California | New Jersey |
| Best paying company | Apple | The Citadel |
| Best paying industry | Automotive | Finance |
There are a few differences between a senior cost analyst and a senior analyst in terms of educational background:
| Senior Cost Analyst | Senior Analyst | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 68% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between senior cost analysts' and senior analysts' demographics:
| Senior Cost Analyst | Senior Analyst | |
| Average age | 47 | 44 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 61.8% Female, 38.2% |
| 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, 7.4% Unknown, 4.4% Hispanic or Latino, 8.4% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 13% | 12% |