Cost Analyst salary in United Kingdom

Average Yearly Salary of Cost Analyst in United Kingdom is approximately 48,458 GBP (56,964 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?

A 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?

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


Want to check how your salary compares? Submit your own salary here

Salary comparison to National average

Is Cost Analyst a well paid job?

Yes, our data show that Cost Analyst is an averagely well paid job that still allows for some yearly savings. 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 53,304 GBP and 70,264 GBP. However this is an estimation based on Gaussian Distribution.

How much can you save working as Cost Analyst in United Kingdom?

Living in United Kingdom the approximate monthly expenses are: 1,956 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: 48,458 GBP
Estimated Monthly Salary: 4,038 GBP
Estimated Weekly Salary: 932 GBP per week
Estimated Hourly Salary: 23 GBP per hour
By working as Cost Analyst a person can save up to 2,791 USD per month or 33,497 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 United Kingdom, see costs of living in United Kingdom.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Ireland.
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

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 +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +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 United Kingdom

Data as of 2025

Random salary:
Senior portfolio manager (94,027 GBP per year, pre-tax.)
Insurance claims examiner (39,638 GBP per year, pre-tax.)
Database developer (59,358 GBP per year, pre-tax.)
Instructional designer (48,991 GBP per year, pre-tax.)
Apprentice diesel mechanic (23,733 GBP per year, pre-tax.)

Feedback about these results