Home > Salary > United Kingdom > Cost Analyst
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.
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
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 3,911 GBP
Estimated Weekly Salary: 903 GBP per week
Estimated Hourly Salary: 23 GBP per hour
Last revision of data: 2024-04-21
Estimated Yearly Salary: 56,964 USD
Estimated Monthly Salary: 4,747 USD
Estimated Weekly Salary: 1,095 USD per week
Estimated Hourly Salary: 27 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %
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.
Want to check how your salary compares? Submit your own salary here
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.
Estimated Yearly Salary for Cost Analyst
Last revision of data: 2025-01-04
Data as of 2025
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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
Job industry: Finance
How much does Cost Analyst make?
Salary details
How much does Cost Analyst make?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
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 46,937 GBPEstimated Monthly Salary: 3,911 GBP
Estimated Weekly Salary: 903 GBP per week
Estimated Hourly Salary: 23 GBP per hour
Last revision of data: 2024-04-21Cost Analyst estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 56,964 USD
Estimated Monthly Salary: 4,747 USD
Estimated Weekly Salary: 1,095 USD per week
Estimated Hourly Salary: 27 USD per hour
Difference in salary year over year or average salary increase is approximately
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.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Country:
Salary comparison to National average
The United Kingdom, also known as the UK, is a country located in northwestern Europe. It consists of four countries: England, Scotland, Wales, and Northern Ireland. With a population of approximately 66 million people, it is the fifth-largest economy in the world. The UK covers an area of around 93,600 square miles, making it the 78th largest country by size.
Estimated national average yearly salary is 41,537 GBP (48,890 USD). Value indicated is pre-tax. Below graph shows estimated Cost Analyst job salary compared to average salary in United Kingdom.
Comparison shows that a person working as Cost Analyst in United Kingdom earns on average:
1.17 times the average salary (or 117% of average salary).
Estimated national average yearly salary is 41,537 GBP (48,890 USD). Value indicated is pre-tax. Below graph shows estimated Cost Analyst job salary compared to average salary in United Kingdom.
Comparison shows that a person working as Cost Analyst in United Kingdom earns on average:
1.17 times the average salary (or 117% of average salary).
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
Ireland is 103,360 USD Last revision of data: 2025-01-04Salary 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 increaseTop 10 highest salaries in United Kingdom
(906,313 GBP per year, pre-tax.)
(398,557 GBP per year, pre-tax.)
(396,499 GBP per year, pre-tax.)
4. Cardiologist
(332,162 GBP per year, pre-tax.)
5. Cardiologist
(330,298 GBP per year, pre-tax.)
(320,143 GBP per year, pre-tax.)
(319,848 GBP per year, pre-tax.)
8. Neurosurgeon
(310,506 GBP per year, pre-tax.)
9. Neurosurgeon
(309,585 GBP per year, pre-tax.)
(309,338 GBP per year, pre-tax.)
Data as of 2025Random salary:
Claims manager (50,282 GBP per year, pre-tax.)
Chemical engineering technician (40,005 GBP per year, pre-tax.)
Music historian (43,613 GBP per year, pre-tax.)
Energy procurement manager (65,213 GBP per year, pre-tax.)
Network design engineer (60,111 GBP per year, pre-tax.)
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