How is Variance Analysis used?
Zippia reviewed thousands of resumes to understand how variance analysis is used in different jobs. Explore the list of common job responsibilities related to variance analysis below:
- Provide financial analysis and support to operating managers on budgeting, operations planning, and performance monitoring and variance analysis.
- Utilize historical and projected data to perform trend analysis and Earned Value Management variance analysis.
- Provided monthly analysis of revenue, variance analysis, and management reporting.
- Administered standard product support effort and produced variance analysis report.
- Perform and assist in financial analysis and variance analysis.
- Performed Cost/Schedule variance analysis and identify potential trends.
Are Variance Analysis skills in demand?
Yes, variance analysis skills are in demand today. Currently, 6,438 job openings list variance analysis skills as a requirement. The job descriptions that most frequently include variance analysis skills are program control analyst, senior program control analyst, and senior manager-finance planning & analysis.
How hard is it to learn Variance Analysis?
Based on the average complexity level of the jobs that use variance analysis the most: program control analyst, senior program control analyst, and senior manager-finance planning & analysis. The complexity level of these jobs is challenging.
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What jobs can you get with Variance Analysis skills?
You can get a job as a program control analyst, senior program control analyst, and senior manager-finance planning & analysis with variance analysis skills. After analyzing resumes and job postings, we identified these as the most common job titles for candidates with variance analysis skills.
Program Control Analyst
Job description:
A program control analyst is responsible for evaluating the project management policies and procedures of an organization, ensuring that the processes adhere to business requirements and client specifications. Program control analysts handle the cost estimates and sales forecasting and quality control processes, including the tracking of program progress and the brand presence on digital media platforms. They also review the efficiency and effectiveness of the procedures within the budget limitations, coordinating with the management for each milestone deliverable.
- Program Management
- Variance Analysis
- Control Systems
- Work Breakdown Structure
- Earned Value Management
- Financial Analysis
Senior Program Control Analyst
- Business Management
- Earned Value Management
- Variance Analysis
- Program Management
- WBS
- Work Breakdown Structure
Senior Manager-Finance Planning & Analysis
- Hyperion
- Financial Analysis
- Variance Analysis
- Financial Data
- Ad-Hoc Analysis
- Financial Support
Senior Cost Accountant
Job description:
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.
- Reconciliations
- Variance Analysis
- GAAP
- Account Reconciliations
- SR
- SOX
Cost Accountant
Job description:
A cost accountant specializes in determining the total cost incurred by a company from producing goods and services. Through the various financial data they collect, the cost accountant will devise plans and strategies that will be a vital factor in the next budget and marketing preparations of a company. Aside from this, a cost accountant is responsible for various tasks such as conducting research and analysis in different areas, keeping financial records and inventory, producing financial reports involving profitability and expenditures, and proposing a budget and other financial plans.
- Reconciliations
- Variance Analysis
- GAAP
- Account Reconciliations
- Cost Analysis
- Financial Analysis
Program Finance Analyst
Job description:
A program finance analyst is an individual who supports the execution of program financial services to ensure effective and transparent utilization of financial resources. Program finance analysts must obtain and compile information regarding the credit history of loan applicants, corporate financial statements, and other financial information. They communicate with faculty members and business administrators about the company's financial status and provide recommendations for strategic planning. Program finance analysts must also monitor the financial performance of a project and provide analysis for project managers concerning burn rates and potential overruns.
- Financial Analysis
- Variance Analysis
- Program Management
- Financial Data
- Earned Value Management
- Strong Analytical
Cost Controller
Job description:
A Cost Controller manages the project costs. Cost Controllers' tasks include developing, controlling, planning, and forecasting the project's budget. They make sure that projects are completed within the approved budget and minimize the deflection from it. Cost Controllers should know about total cost management concepts, budget distribution, and setting a cost limit. They should also know how to detect issues, analyze cost reports, and value management. Being a cost controller also requires skills to effectively communicate the project's cost performance, concerns, and recovery plans to the project team.
- Project Management
- Cost Analysis
- Financial Statements
- Cost Estimates
- Variance Analysis
- Cost Data
Senior Project Control Analyst
- Project Controls
- Project Management
- WBS
- Variance Analysis
- Microsoft Project
- Risk Management
Cost Accounting Manager
Job description:
A cost accounting manager is responsible for analyzing and evaluating pricing and costing systems of the goods and services of an organization, ensuring its adherence to the internal guidelines and state regulations. Cost accounting managers review business and financial transactions to generate accounting reports for management reference. They also identify business opportunities that would provide revenue resources and profits by monitoring industry trends and public demands. A cost accounting manager must have excellent analytical skills and accounting principles knowledge, especially in resolving account and expense discrepancies.
- Variance Analysis
- Financial Analysis
- Reconciliations
- Financial Reports
- Product Cost
- ERP
Finance And Marketing Analyst
Job description:
The primary role of a financial analyst is to gather all data to check opportunities and evaluate the results of business decisions or investment recommendations made. Their role is to help companies make the best business decisions to further the company's profit with fewer costs incurred. They can work in both junior and senior positions within a firm. A financial analyst must also be aware of the developments made in the field they specialize in, as well as draft financial models to foresee future economic conditions of any inconsistencies.
- Financial Analysis
- PowerPoint
- SQL
- Accruals
- Variance Analysis
- Financial Models
Project Control Analyst
Job description:
A project control analyst is in charge of overseeing the progress of a project, ensuring smooth workflow and timeliness. Their responsibilities revolve around monitoring the performance of the workforce, addressing project inquiries, managing schedules, and budgets, participating in quality control, and handling issues and concerns promptly and efficiently. They must also conduct research and analysis to identify areas needing improvement for optimal performance. Furthermore, as a project control analyst, it is essential to perform clerical tasks such as producing progress reports and assessments, all while adhering to the company's policies and regulations.
- Project Controls
- Project Management
- WBS
- Variance Analysis
- Project Cost
- Program Management
Senior Finance Analyst
Job description:
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.
- Financial Analysis
- Hyperion
- Financial Models
- Strong Analytical
- Variance Analysis
- Ad-Hoc Analysis
Finance Analyst
Job description:
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
- Financial Analysis
- Financial Models
- Financial Data
- Strong Analytical
- Variance Analysis
- Hyperion
How much can you earn with Variance Analysis skills?
You can earn up to $65,141 a year with variance analysis skills if you become a program control analyst, the highest-paying job that requires variance analysis skills. Senior program control analysts can earn the second-highest salary among jobs that use Python, $65,779 a year.
| Job title | Average salary | Hourly rate |
|---|---|---|
| Program Control Analyst | $65,141 | $31 |
| Senior Program Control Analyst | $65,779 | $32 |
| Senior Manager-Finance Planning & Analysis | $90,476 | $44 |
| Senior Cost Accountant | $65,824 | $32 |
| Cost Accountant | $60,528 | $29 |
Companies using Variance Analysis in 2025
The top companies that look for employees with variance analysis skills are Robert Half, Northrop Grumman, and Lumina Foundation. In the millions of job postings we reviewed, these companies mention variance analysis skills most frequently.
| Rank | Company | % of all skills | Job openings |
|---|---|---|---|
| 1 | Robert Half | 32% | 8,562 |
| 2 | Northrop Grumman | 8% | 2,934 |
| 3 | Lumina Foundation | 6% | 2,273 |
| 4 | Jacobs Enterprises | 4% | 4,958 |
| 5 | Ryder System | 4% | 6,255 |
Departments using Variance Analysis
| Department | Average salary |
|---|---|
| Engineering | $93,139 |
| Finance | $78,599 |
3 courses for Variance Analysis skills
1. Flexible Budgets, Standard Costs, & Variance Analysis
This comprehensive Udemy course combines insights from college topics generally covered by managerial accounting textbooks with practical applications to provide a deep understanding of essential tools in managerial accounting. To set the right foundation, we begin by introducing managerial accounting topics and contrasting them with financial accounting. This establishes the correct mindset for the course, ensuring a clear understanding of the distinctive features and objectives of managerial accounting. We then delve into flexible budgets, exploring their advantages over static or fixed budgets. Through interactive example problems and step-by-step instructional videos, you will grasp the benefits of flexible budgets and learn how to utilize them effectively. Next, we define and analyze standard costs and cost variance analysis. While providing an overview of cost variance analysis concepts, we will progressively dive deeper into each topic, equipping you with practical skills to identify and interpret cost variances. Sales variance analysis will be thoroughly covered, including its purpose, calculation methods, and real-world applications. By working through example problems and following detailed instructional videos, you will gain hands-on experience in calculating sales variances. Direct materials variance analysis will be explored comprehensively, demonstrating its practical use and calculation methods. Through instructional videos and example problems, you will master the application of direct materials variance analysis concepts. Direct labor variance analysis will also receive extensive attention, ensuring a comprehensive understanding of its purpose and applications. Through instructional videos and practical examples, you will acquire the skills to calculate and interpret direct labor variances. Overhead variance analysis will be discussed in detail, highlighting its significance in cost management. You will understand why overhead variance analysis is used and learn how to calculate and analyze overhead variances. Through demonstration presentations, example problems, and step-by-step instructional videos, you will navigate the intricacies of overhead variance analysis. As a capstone, we will provide comprehensive problems on overhead variance and variance analysis. With preformatted Excel worksheets and accompanying instructional videos, you will have the opportunity to apply your knowledge and skills in solving complex variance analysis scenarios. The Excel worksheets will guide you through the step-by-step problem-solving process, enabling a hands-on experience to reinforce your understanding. Join us on this transformative journey of mastering managerial and cost accounting tools. Enroll now and unlock the power of variance analysis and budgeting for effective decision-making and financial management...
2. Sales & Gross Profit Variance Analysis (Price, Mix, Volume)
Do you ever find yourself, in business review meetings, trying to explain the business performance versus budget, or prior period, but not having all the answers? Then, this course is just for you. Being able to analyse and present the profitability of a business through variance analysis is a key business partnering skill. It can help you identify key business issues and establish your position as a trusted finance business partner to the senior management. This is a must have skill for all finance and business professionals, specially Sales Analysts, Financial Analysts, Accountants, Controllers, CFOs, General Managers and CEOs. In this course, we take a detailed look at calculating and analyzing variances in sales and gross profit (budget variance analysis and prior period variance analysis), driven by changes in sales prices, sales quantities and product mix. With the help of these variances we will be able to explain precisely the performance gap, both in terms of dollar amounts and profit margin percentages, vs budget and prior period. We will calculate the variances by developing automated Microsoft Excel files. Once all the variances in price, volume, quantity and mix are calculated, we will convert them into charts for presentation, and then analyze in detail each variance. We will also explain performance versus budget and prior year, and then make precise recommendations to improve profitability and business performance. Here is what you will learn in this course?- You will be able to explain precisely the variance in amounts for Sales, Cost of Sales and Profit vs budget and vs previous period.- You will also learn how to explain the variance in Profit margin percentage (%) vs budget and vs previous period, and what impacts the variance in margin points.- You will learn how to summarize the variance results and present it to management in the form of easy to follow graphs/charts (visualization).- You will learn how to analyse the results of the variance calculations, and provide recommendations to management (using Microsoft PowerPoint).- You will start with current period actual sales, cost of sales and gross profit of a company, compared with budget and prior year results. - You will learn about the hierarchy of sales variances; Sales Price, Volume, Quantity and Mix.- You will learn how to create Excel templates to calculate all of these variances that are automated and update as soon as new data replaces existing data (this is great for monthly and weekly, or even daily updates).- You will learn about when to use Selling price, and when to use Profit as a base for calculation.- There will be quizzes and assignments to test and reinforce your knowledge.- You will also get downloadable solved variance analysis Excel files, that we prepare during the course lectures. In summary, by the end of this course, you will be able to explain financial performance vs budget and previous year as a result of changes from sales price, quantities and product mix. You will be able to successfully explain results, and empower decision makers to make informed business decisions based on your recommendations. This will save you a lot of time and effort, and is likely to have a significantly positive impact on your confidence and career growth. You can achieve this mastery of explaining variances in sales and profitability as soon as tomorrow, or your next meeting, if you take this course now. So, don't wait and start learning by enrolling for the course, right now. Hope to see you inside the course!...
3. SAP CO: Production VARIANCE ANALYSIS in S/4 HANA
Variance analysis is a critical component of controlling in the manufacturing sector, as it highlights the deviations between the planned (or standard) and the actual outcomes, which then informs management decisions. Let's delve into the nuances of these variance categories for a better understanding: Input Side Variances:1. Input Price Variance: This is the difference between the standard cost and the actual cost of inputs. For instance, if a company planned to purchase raw material at 10 per unit but actually purchased it at 11 per unit, this leads to a price variance.2. Input Quantity Variance: It's the difference between the standard quantity and the actual quantity used. If a company planned to use 50 units of a raw material but ended up using 52 units, this will result in a quantity variance.3. Resource-Usage Variance: This arises when alternative resources are used instead of the ones originally planned. For instance, using a higher-grade material instead of a standard one can lead to this variance. It's essentially the difference in cost between the actual resource used and the planned one.4. Remaining Input Variance: Any variance that cannot be attributed to the previously mentioned categories falls under this. Overhead rate changes during the production cycle are common culprits. Output Side Variances:1. Output Price Variance: This arises from the difference between the actual selling price and the standard selling price of the finished product.2. Mixed Price Variance: In scenarios where materials are valuated using a mixed cost estimate, any difference between the standard cost (derived from a standard mix) and the actual cost (resulting from an actual mix) leads to this variance.3. Lot Size Variance: Differences between the actual batch size or lot size used in manufacturing and the lot size considered during standard costing lead to this variance. This is crucial because certain costs might be fixed per batch, and deviations in batch sizes can lead to cost discrepancies.4. Remaining Variance: This is a catch-all category for variances that don't fit into any other specified category. A common reason for such a variance is the absence of a target cost for the material, which can arise if a standard cost estimate is unavailable or if there's been no goods receipt against a production order. Scrap Variances: In manufacturing, scrap refers to the portion of a raw material or semi-finished goods that, due to defects or inefficiencies during the production process, doesn't end up as a part of the final product. Understanding the sources and reasons for scrap is vital to optimize production processes, minimize waste, and control costs. Scrap variances help pinpoint where in the process the wastage is happening and how it might be minimized.1. Assembly Scrap: Definition: Assembly scrap pertains to the waste or defects that occur during the main assembly process. This is when different components or materials are being assembled to form the final product or a significant subassembly.2. Operation Scrap: Definition: Operation scrap refers to the waste that happens at a specific operation or stage in the manufacturing process, well before the assembly.3. Component Scrap: Definition: Component scrap is related to the waste of specific components or parts used in the production process. This isn't necessarily about a stage in the process but is about defective parts. In Conclusion: Variance analysis is crucial in manufacturing to pinpoint areas of inefficiency or unforeseen changes. By understanding where and why variances occur, companies can adjust their operations accordingly, resulting in better cost management and profitability. However, the key is not just to identify but also to act upon these variances by taking corrective measures...