Salary AI Book a Demo
upper level job

Cost Analyst I Salary in the United States

How much does a Cost Analyst I make in the United States?

As of October 01, 2026, the average salary for a Cost Analyst I in the United States is $66,338 per year, which breaks down to an hourly rate of $32.

However, a Cost Analyst I's salary can vary significantly. Here’s a look at the typical salary range:

  • Top Earners (90th percentile): $78,551
  • Majority Range (25th-75th percentile): $62,061 to $72,731
  • Entry-Level (10th percentile): $58,167
Salary Factors Salary-Boosting Skills Salary by Experience Related Job Salaries Top Paying Cities Explore Related Jobs

Key Factors That Influence Cost Analyst I Salaries

A Cost Analyst I's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.

How Experience Level Affects Cost Analyst I Salaries?

Experience is a primary driver of a Cost Analyst I's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:

  • Cost Analyst I (0-2 years): $66,338
  • Cost Analyst II (2-4 years): $82,698
  • Cost Analyst III (4-7 years): $97,714
  • Cost Analyst IV (7+ years): $120,639
Job Role Years of Experience Average Salary
Cost Analyst I0-2 years$66,338
Cost Analyst II2-4 years$82,698
Cost Analyst III4-7 years$97,714
Cost Analyst IV7+ years$120,639
View as Graph

How Do Cost Analyst I Salaries Vary from State to State?

Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Cost Analyst Is. For example, consider the average annual salaries in these key locations:
  • District of Columbia: $73,449.
  • California: $73,171.
  • Massachusetts: $72,196.

Top Paying Cities for Cost Analyst Is

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

  • San Jose: $83,672
  • San Francisco: $82,756
  • Oakland: $81,012

What Skills Can Increase a Cost Analyst I's Salary?

Demanded Skills for the Role:

  • Analysis (Mentioned in 16.81% Job Postings): Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
  • Forecasting (Mentioned in 2.25% Job Postings): Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term. Both might refer to formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods. Usage can differ between areas of application: for example, in hydrology the terms "forecast" and "forecasting" are sometimes reserved for estimates of values at certain specific future times, while the term "prediction" is used for more general estimates, such as the number of times floods will occur over a long period. Risk and uncertainty are central to forecasting and prediction; it is generally considered good practice to indicate the degree of uncertainty attaching to forecasts. In any case, the data must be up to date in order for the forecast to be as accurate as possible. In some cases the data used to predict the variable of interest is itself forecasted.
  • Economics (Mentioned in 1.27% Job Postings): Economics is a social science that focuses on the production, distribution, and consumption of goods and services, and analyzes the choices that individuals, businesses, governments, and nations make to allocate resources.
Skills Demand Percentage
Analysis 16.81%
Forecasting 2.25%
Economics 1.27%
See More Skills

What skills can make your compensation higher?

Mastering certain specialized skills can lead to a significant increase in pay. Here are examples of skills and the potential impact they can have on a Cost Analyst I's salary.

  • Integrity: Can increase your salary by up to 13%.
  • Economics: Can increase your salary by up to 10%.
  • Program Management: Can increase your salary by up to 10%.
Skill Salary Salary % Increase
Integrity $74,962
13%
Economics $72,972
10%
Program Management $72,972
10%
Get Latest Data

Cost Analyst I Salary by Company Size: Startups vs. Enterprise

Cost Analyst I salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $74,059. While startup companies pay approximate $62,710.

Cost Analyst I Salary by Company Size

Company Size Employees Average Salary
Startup 1~50 $62,710
Growth Stage 51~500 $66,307
Established 501~5000 $71,510
Enterprise 5000+ $74,059

Cost Analyst I Salary by Industry: Top Paying Sectors

For Cost Analyst I roles, the industry you choose can affect earning potential by as much as 105% (the gap between the highest and lowest paying industries). Data shows that the Pharmaceuticals and Financial Services sectors offer the strongest compensation, at 50% above the average. In contrast, Cost Analyst positions in Software & Networking or Transportation typically offer lower base pay, as these industries often view Cost Analyst I as a support function rather than a direct revenue driver.

The top paying industries for a Cost Analyst I

Industry Sector Average Annual Salary Average Hourly Rate Pay vs.Avg
Pharmaceuticals$99,507$48.050%
Financial Services$92,873$45.040%
Energy & Utilities$86,239$41.030%
Biotechnology$82,922$40.025%
Internet$79,606$38.020%

How Education impacts a Cost Analyst I's Salary?

Your level of education can impact your salary potential. While many Cost Analyst I enter the field with a Bachelor's Degree, higher education can lead to more specialized and higher-paying roles.

According to our 100% employer-reported salary data, the median salary for an Cost Analyst I with a Bachelor's Degree is between $63,146 and $67,178.

Cost Analyst I Salaries by Degree Level

Typical Education for Cost Analyst I
Degree Level % of user with this level of education
No Diploma 3.6%
High School 3.6%
Associates 8.4%
Bachelors 67.5%
Masters 19.3%
Doctorate 1.2%
View as Graph

Cost Analyst I Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a Cost Analyst I's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.

Last Updated on October 01, 2026
$62,061
Average $66,338/year
$72,731
$5,172
Average $5,528/month
$6,061
$1,193
Average $1,276/week
$1,399
$30
Average $32/hour
$35
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $72,731 $6,061 $1,399 $35
Average $66,338 $5,528 $1,276 $32
25th Percentile $62,061 $5,172 $1,193 $30

Cost Analyst I Salary Growth & Career Path

Cost Analyst I

Next Role

Advancement

Promotions are the fastest way to increase your earnings. As a Cost Analyst I, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.

Next Step Role Estimate Salary Projected Raise
Cost Analyst II $82,698 25%
Telecommunication Rates Analyst II $82,698 25%

Most common benefits for Cost Analyst I

  • Social Security
  • 401 (k)
  • Disability
  • Healthcare
  • Pension
  • Time Off (days)

Common company salaries for Cost Analyst I

Here are companies hiring for Cost Analyst I and their salaries, click below for more details.

Find Your Next Cost Analyst I Job

Ready to take the next step in your career? Browse thousands of current Cost Analyst I job openings on our job board. Use the search bar below to find your perfect match.

For Employees

Analyze the market and your qualifications to negotiate your salary with confidence.

Get a Salary Increase

Search thousands of open positions to find your next opportunity.

Search Job Openings

For Employers

Individualize employee pay based on unique job requirements and personal qualifications.

Adjust Employee Salary

Get the latest market price for benchmark jobs and jobs in your industry.

Price My Industry Jobs

FAQ about Cost Analyst I

1. Where can a Cost Analyst I earn the most?

A Cost Analyst I's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Cost Analyst I earns the most in San Jose, CA, where the annual salary of a Cost Analyst I is $83,672.

2. What is the highest pay for Cost Analyst I?

The highest pay for Cost Analyst I is $78,551.

3. What is the lowest pay for Cost Analyst I?

The lowest pay for Cost Analyst I is $58,167.

4. What are the responsibilities of Cost Analyst I?

Performs variance analysis between actual and standard costs to assist management in decision making or other financial initiatives. Monitors, analyzes, and reports on inventory valuation, production, and various other costs. Provides productivity analysis. May require a bachelor's degree or its equivalent. Typically reports to a Manager. Works on projects/matters of limited complexity in a support role. Work is closely managed. Typically requires 0-2 years of related experience.

5. What industry pays the highest salary for Cost Analyst I?

The Pharmaceuticals industry offers the highest average compensation for Cost Analyst I roles, with salaries approximately 50% above the market median.

Where Does Our Salary Data Come From?

Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.

We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)

With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.

Are you an HR manager or compensation specialist?

Salary.com's CompAnalyst platform offers:

  • Detailed skills and competency reports for specific positions
  • Job and employee pricing reports
  • Compensation data tools, salary structures, surveys and benchmarks.
Learn about CompAnalyst