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Cost Analyst salary in Latvia

Average Yearly Salary of Cost Analyst in Latvia is approximately 27,405 EUR (27,439 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Cost Analyst do?

occupation personasA cost analyst is responsible for analyzing and evaluating the costs associated with a company's operations, products, or services. They collect and analyze financial data, including expenses, budgets, and pricing information, to identify areas of improvement and cost-saving opportunities. Cost analysts also develop and maintain cost estimation models, conduct variance analysis to compare actual costs with budgeted costs, and provide recommendations to management for cost optimization. The occupation of a cost analyst requires strong analytical skills, attention to detail, and proficiency in financial analysis software and tools. They must have a solid understanding of accounting principles and cost accounting techniques. Effective communication and problem-solving skills are essential, as cost analysts often collaborate with cross-functional teams to identify cost reduction strategies and implement process improvements.

Skills: cost analyst, financial analysis, cost estimation, variance analysis, cost optimization, cost accounting.
Job industry: Finance


How much does Cost Analyst make?

Salary details
How much does Cost Analyst make?
Estimated Yearly Salary: 27,405 EUR
Estimated Monthly Salary: 2,284 EUR
Estimated Weekly Salary: 527 EUR per week
Estimated Hourly Salary: 13 EUR per hour
Values are pre-tax
Last revision of data: 2025-01-04

Comparing salary to last year:
Estimated Yearly Salary: 26,482 EUR
Estimated Monthly Salary: 2,207 EUR
Estimated Weekly Salary: 509 EUR per week
Estimated Hourly Salary: 13 EUR per hour
Last revision of data: 2024-01-06



Cost Analyst estimated salary in USD
For easier comparison here is an estimated salary in USD:
Estimated Yearly Salary: 27,439 USD
Estimated Monthly Salary: 2,287 USD
Estimated Weekly Salary: 528 USD per week
Estimated Hourly Salary: 13 USD per hour


Difference in salary year over year or average salary increase is approximately up arrow 3 %

About these results Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.

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Salary comparison to National average

Latvia is a country located in Northern Europe, bordered by Estonia to the north, Lithuania to the south, Russia to the east, and Belarus to the southeast. It has a population of approximately 1.9 million people and covers an area of about 64,589 square kilometers.

Estimated national average yearly salary is 19,565 EUR (21,500 USD). Value indicated is pre-tax. Below graph shows estimated Cost Analyst job salary compared to average salary in Latvia.
Comparison shows that a person working as Cost Analyst in Latvia earns on average:
1.4 times the average salary (or 140% of average salary).

Is Cost Analyst a well paid job?

Yes, our data shows that Cost Analyst is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Cost Analyst?

High salary for Cost Analyst would be somewhere between 30,146 EUR and 39,737 EUR. However this is an estimation based on Gaussian Distribution.

How much can you save working as Cost Analyst in Latvia?

Living in Latvia the approximate monthly expenses are: 860 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 27,405 EUR
Estimated Monthly Salary: 2,284 EUR
Estimated Weekly Salary: 527 EUR per week
Estimated Hourly Salary: 13 EUR per hour
By working as Cost Analyst a person can save up to 1,427 USD per month or 17,119 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Latvia, see costs of living in Latvia.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Estonia, Russia, Belarus, Lithuania..
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Cost Analyst

Estonia is 35,297 USDup arrow 29%
Details on Cost Analyst salary in Estonia
Russia is 16,348 USDdown arrow 40%
Details on Cost Analyst salary in Russia
Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

    0 years (beginner) equals base salary
    1 to 5 years of experience yields up arrow+12% salary increase
    6 to 10 years of experience yields up arrow+25% salary increase
    11 to 15 years of experience yields up arrow+16% salary increase
    16 to 25 years of experience yields up arrow+9% salary increase
    more than 25 years of experience yields up arrow+10% salary increase
NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Latvia

(224,317 EUR per year, pre-tax.)
(186,760 EUR per year, pre-tax.)
(179,947 EUR per year, pre-tax.)
(174,646 EUR per year, pre-tax.)
(174,433 EUR per year, pre-tax.)
(170,871 EUR per year, pre-tax.)
(170,733 EUR per year, pre-tax.)
(170,497 EUR per year, pre-tax.)
(169,948 EUR per year, pre-tax.)
(169,943 EUR per year, pre-tax.)

Data as of 2025

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