How much does a Cost Analyst I make in Illinois? The average Cost Analyst I salary in Illinois is $67,010 as of February 26, 2024, but the range typically falls between $59,895 and $75,534. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

Cost Analyst I Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Cost Analyst I Salary $53,417 IL February 26, 2024
25th Percentile Cost Analyst I Salary $59,895 IL February 26, 2024
50th Percentile Cost Analyst I Salary $67,010 IL February 26, 2024
75th Percentile Cost Analyst I Salary $75,534 IL February 26, 2024
90th Percentile Cost Analyst I Salary $83,295 IL February 26, 2024
25% $59,895 10% $53,417 90% $83,295 75% $75,534 $67,010 50%(Median) Didn’t find job title? Click
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What skills does a Cost Analyst I need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.

Economics: 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.

3.

Forecasting: 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.

Analysis 2.26%
Economics 0.17%
Forecasting 0.3%
Others 97.27%

Job Description for Cost Analyst I

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. Being a Cost Analyst I provides productivity analysis. May require a bachelor's degree or its equivalent. Additionally, Cost Analyst I typically reports to a Manager. The Cost Analyst I works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Cost Analyst I typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Cost Analyst I in Illinois

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Location Avg. Salary Date Updated
Location Cicero, IL Avg. Salary $68,797 Date Updated February 26, 2024
Location Mount Prospect, IL Avg. Salary $68,562 Date Updated February 26, 2024
Location Abingdon, IL Avg. Salary $61,853 Date Updated February 26, 2024
Location Adair, IL Avg. Salary $62,602 Date Updated February 26, 2024
Location Addieville, IL Avg. Salary $63,691 Date Updated February 26, 2024
Location Addison, IL Avg. Salary $68,562 Date Updated February 26, 2024
Location Akin, IL Avg. Salary $61,250 Date Updated February 26, 2024
Location Albany, IL Avg. Salary $60,792 Date Updated February 26, 2024
Location Albers, IL Avg. Salary $63,691 Date Updated February 26, 2024
Location Albion, IL Avg. Salary $59,889 Date Updated February 26, 2024

Career Path for Cost Analyst I

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Cost Analyst I, the first career path typically starts with a Cost Analyst II position, and then Cost Analyst IV.

The second career path typically progresses to Rate Analyst.

Additionally, the third career path typically starts with a Telecommunication Rates Analyst II position, and then progresses to Telecommunication Rates Manager.

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Cost Analyst I Salary in Illinois
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