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The differences between senior cost analysts and senior cost 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 cost accountant. Additionally, a senior cost analyst has an average salary of $77,845, which is higher than the $65,824 average annual salary of a senior cost 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 cost accountant are reconciliations, variance analysis, and GAAP.
| Senior Cost Analyst | Senior Cost Accountant | |
| Yearly salary | $77,845 | $65,824 |
| Hourly rate | $37.43 | $31.65 |
| Growth rate | 3% | 6% |
| Number of jobs | 53,872 | 45,010 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 79% |
| 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 cost accountant is an individual who maintains detailed costs in a company's system and provides cost analysis that supports operations and sales. Senior cost accountants are required to review inventory and deal with manufacturing personnel to control and analyze standard costs. They must record cost information to be used in controlling expenditures as well as recommend cost efficiencies in new product layouts. Senior cost accountants must also provide reports that specify and compare factors affecting prices and profitability of products or services to the management.
Senior cost analysts and senior cost accountants have different pay scales, as shown below.
| Senior Cost Analyst | Senior Cost Accountant | |
| Average salary | $77,845 | $65,824 |
| Salary range | Between $57,000 And $105,000 | Between $48,000 And $89,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | California | New Jersey |
| Best paying company | Apple | OraSure Technologies |
| Best paying industry | Automotive | Health Care |
There are a few differences between a senior cost analyst and a senior cost accountant in terms of educational background:
| Senior Cost Analyst | Senior Cost Accountant | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 79% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior cost analysts' and senior cost accountants' demographics:
| Senior Cost Analyst | Senior Cost Accountant | |
| Average age | 47 | 44 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 59.7% Female, 40.3% |
| 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, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 12.3% White, 64.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 13% | 7% |