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The differences between senior cost analysts and senior finance 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 finance analyst. Additionally, a senior finance analyst has an average salary of $83,222, 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 finance analyst are financial analysis, hyperion, and financial models.
| Senior Cost Analyst | Senior Finance Analyst | |
| Yearly salary | $77,845 | $83,222 |
| Hourly rate | $37.43 | $40.01 |
| Growth rate | 3% | 9% |
| Number of jobs | 53,872 | 117,609 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 74% |
| Average age | 47 | 40 |
| 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 Financial Analyst's role is to oversee the financial aspects and manage fellow analysts in a company. Among the tasks of a Senior Financial Analyst include conducting research and analysis, providing forecast in revenue and expenditures, creating financial models that would suit the company and project more sales, and take part in the planning of finances. Moreover, being a Senior Financial Analyst means leading a team of skilled professionals in the same field of expertise.
Senior cost analysts and senior finance analysts have different pay scales, as shown below.
| Senior Cost Analyst | Senior Finance Analyst | |
| Average salary | $77,845 | $83,222 |
| Salary range | Between $57,000 And $105,000 | Between $62,000 And $110,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Apple | |
| Best paying industry | Automotive | Technology |
There are a few differences between a senior cost analyst and a senior finance analyst in terms of educational background:
| Senior Cost Analyst | Senior Finance Analyst | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 74% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior cost analysts' and senior finance analysts' demographics:
| Senior Cost Analyst | Senior Finance Analyst | |
| Average age | 47 | 40 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 61.7% Female, 38.3% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 13% | 7% |