As of August 01, 2026, the average salary for a Costing Analyst in the United States is $84,626 per year, which breaks down to an hourly rate of $41.
However, a Costing Analyst's salary can vary significantly. Here’s a look at the typical salary range:
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A Costing Analyst'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.
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 Costing Analysts. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 16.82% |
| Microsoft Office | 2.26% |
| Economics | 1.27% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Coordination
|
$88,011 |
4%
|
|
Innovation
|
$88,011 |
4%
|
|
Financial Management
|
$88,011 |
4%
|
|
Economics
|
$88,011 |
4%
|
|
Collaboration
|
$88,011 |
4%
|
|
Decision Making
|
$87,164 |
3%
|
For Costing Analyst roles, the industry you choose can affect earning potential by as much as 80% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Biotechnology sectors offer the strongest compensation, at 40% above the average. In contrast, Costing Analyst positions in Edu., Gov't. & Nonprofit or Transportation typically offer lower base pay, as these industries often view Costing Analyst as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $118,476 | $57.0 | 40% |
| Biotechnology | $114,245 | $55.0 | 35% |
| Energy & Utilities | $110,013 | $53.0 | 30% |
| Insurance | $105,782 | $51.0 | 25% |
| Internet | $103,243 | $50.0 | 22% |
Your level of education can impact your salary potential. While many Costing Analysts enter the field with a Bachelor's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Costing Analyst with a Bachelor's Degree is between $77,761 and $83,170).
Costing Analyst Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 4.0% |
| High School | 4.0% |
| Associates | 4.0% |
| Bachelors | 66.7% |
| Masters | 25.3% |
| Doctorate | 0.0% |
Understanding how a Costing Analyst'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 August 01, 2026Salaries for a Costing Analyst can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $77,825 in 2023 to around $77,113 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Costing Analyst salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
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|
| 2023 | $77,825 |
| 2024 | $77,521 |
| 2025 | $77,113 |
| 2026 |
View More
|
| 2027 |
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|
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The Financial Services industry offers the highest average compensation for Costing Analyst roles, with salaries approximately 40% above the market median.
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.)
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