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The differences between senior cost analysts and senior staff 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 staff accountant. Additionally, a senior cost analyst has an average salary of $77,845, which is higher than the $65,019 average annual salary of a senior staff 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 staff accountant are reconciliations, account reconciliations, and CPA.
| Senior Cost Analyst | Senior Staff Accountant | |
| Yearly salary | $77,845 | $65,019 |
| Hourly rate | $37.43 | $31.26 |
| Growth rate | 3% | 6% |
| Number of jobs | 53,872 | 112,760 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 77% |
| 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 staff accountant is responsible for managing the accounting operations of the company's accounting department, reconciling accounts, and finalizing financial reports to discuss with the management. Senior staff accountants resolve account discrepancies, analyze the company's financial status, and verify financial transactions. They must have excellent analytical skills and extensive knowledge of the accounting principles to perform accounting duties that would minimize the financial risk of the company. A senior staff accountant provides strategic recommendations to prevent overspending and increase efficiency across all departments to drive more revenues and profits.
Senior cost analysts and senior staff accountants have different pay scales, as shown below.
| Senior Cost Analyst | Senior Staff Accountant | |
| Average salary | $77,845 | $65,019 |
| Salary range | Between $57,000 And $105,000 | Between $48,000 And $86,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | California | New York |
| Best paying company | Apple | Calumet Specialty Products Partners |
| Best paying industry | Automotive | Professional |
There are a few differences between a senior cost analyst and a senior staff accountant in terms of educational background:
| Senior Cost Analyst | Senior Staff Accountant | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 77% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior cost analysts' and senior staff accountants' demographics:
| Senior Cost Analyst | Senior Staff Accountant | |
| Average age | 47 | 44 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 42.6% Female, 57.4% |
| 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, 8.8% Unknown, 4.0% Hispanic or Latino, 11.2% Asian, 12.1% White, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 13% | 7% |