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The differences between senior finance analysts and cost 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 finance analyst and a cost analyst. Additionally, a senior finance analyst has an average salary of $83,222, which is higher than the $54,158 average annual salary of a cost analyst.
The top three skills for a senior finance analyst include financial analysis, hyperion and financial models. The most important skills for a cost analyst are cost analysis, financial analysis, and cost estimates.
| Senior Finance Analyst | Cost Analyst | |
| Yearly salary | $83,222 | $54,158 |
| Hourly rate | $40.01 | $26.04 |
| Growth rate | 9% | 3% |
| Number of jobs | 117,609 | 60,034 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 74% |
| Average age | 40 | 47 |
| Years of experience | 4 | 4 |
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.
Cost Analysts are employees with a strong background in finance or accounting. They are in charge of collecting financial data and analyzing the entries. They study the company's expenses and prepare pertinent reports. Cost Analysts look for inconsistencies in the financial data. This way, they can assist in auditing the company's spending. Cost Analysts also look for inefficiencies. They do so by tracking item costs and department budgets and monitoring department expenses. They are also involved in budget-setting activities.
Senior finance analysts and cost analysts have different pay scales, as shown below.
| Senior Finance Analyst | Cost Analyst | |
| Average salary | $83,222 | $54,158 |
| Salary range | Between $62,000 And $110,000 | Between $39,000 And $73,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | California | Virginia |
| Best paying company | General Motors | |
| Best paying industry | Technology | Automotive |
There are a few differences between a senior finance analyst and a cost analyst in terms of educational background:
| Senior Finance Analyst | Cost Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 74% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior finance analysts' and cost analysts' demographics:
| Senior Finance Analyst | Cost Analyst | |
| Average age | 40 | 47 |
| Gender ratio | Male, 61.7% Female, 38.3% | Male, 54.2% Female, 45.8% |
| Race ratio | 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% | Black or African American, 10.1% Unknown, 4.7% Hispanic or Latino, 16.1% Asian, 8.6% White, 59.5% American Indian and Alaska Native, 1.0% |
| LGBT Percentage | 7% | 13% |