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The differences between tax interns and cost accountants can be seen in a few details. Each job has different responsibilities and duties. Additionally, a cost accountant has an average salary of $60,528, which is higher than the $46,283 average annual salary of a tax internship.
The top three skills for a tax internship include first hand, CPA and taxation. The most important skills for a cost accountant are reconciliations, variance analysis, and GAAP.
| Tax Internship | Cost Accountant | |
| Yearly salary | $46,283 | $60,528 |
| Hourly rate | $22.25 | $29.10 |
| Growth rate | 6% | 6% |
| Number of jobs | 71,991 | 39,925 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 77% |
| Average age | 47 | 44 |
| Years of experience | - | 4 |
A tax intern is responsible for supporting the finance and accounting department on preparing tax documents, including analyzing financial statements and performing account reconciliations, under the supervision of a tenured tax preparer. Tax interns observe tax processes, shadowing the staff on daily operations, and utilizing their classroom knowledge to practical applications by recommending strategic procedures to handle tax filings efficiently and accurately. A tax intern must have excellent knowledge of the financial industry, as well as high-organizational skills on processing paper works and following instructions from the tax consultant.
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.
Tax interns and cost accountants have different pay scales, as shown below.
| Tax Internship | Cost Accountant | |
| Average salary | $46,283 | $60,528 |
| Salary range | Between $30,000 And $71,000 | Between $45,000 And $81,000 |
| Highest paying City | - | Edison, NJ |
| Highest paying state | - | New Jersey |
| Best paying company | - | |
| Best paying industry | - | Energy |
There are a few differences between a tax internship and a cost accountant in terms of educational background:
| Tax Internship | Cost Accountant | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 77% |
| Most common major | Accounting | Accounting |
| Most common college | University of Southern California | University of Pennsylvania |
Here are the differences between tax interns' and cost accountants' demographics:
| Tax Internship | Cost Accountant | |
| Average age | 47 | 44 |
| Gender ratio | Male, 53.6% Female, 46.4% | Male, 52.6% Female, 47.4% |
| Race ratio | Black or African American, 8.5% Unknown, 4.2% Hispanic or Latino, 14.1% Asian, 11.4% White, 61.2% American Indian and Alaska Native, 0.6% | Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.2% White, 63.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 7% |