Job Cost Analyst Jobs
A Job Cost Analyst is a vital position within an organization that focuses on analyzing and managing financial data to enhance cost efficiency and support strategic decision-making. This role involves gathering, analyzing, and interpreting financial information to identify inefficiencies, estimate costs, and develop cost reduction strategies.
Job Cost Analyst Jobs require collaboration with various departments, including finance, operations, and management, to ensure financial objectives are met while adhering to budgetary constraints. The position demands a strong analytical mindset, attention to detail, and excellent communication skills to effectively present findings and recommendations to stakeholders. Ultimately, Cost Analysts contribute significantly to the financial health and profitability of the organization by providing in-depth cost analysis, defining pricing structures, and supporting decision-making processes.
National Yearly Income Range:
$55,000 - $100,000
Why Being a Job Cost Analyst is Great.
A Job Cost Analyst is a great job because it plays a crucial role in helping organizations manage their financial resources effectively. By analyzing costs associated with specific projects, these professionals provide valuable insights that enable companies to make informed decisions about budgeting, pricing, and resource allocation. This position not only requires strong analytical skills but also offers the opportunity to work closely with various departments, fostering collaboration and communication. Additionally, the demand for skilled analysts continues to grow as businesses seek to optimize their operations and improve profitability.
Job Cost Analyst Jobs are particularly appealing for those who enjoy problem-solving and have a keen eye for detail, making this career both rewarding and impactful.
Job Cost Analyst Job Duties And Responsibilities
A Job Cost Analyst is responsible for gathering and analyzing financial data, such as inventory purchases and labor costs, to estimate production costs and monitor changes due to new products or processes. They develop and manage budgets, ensuring spending aligns with financial objectives while preparing detailed reports to aid management in decision-making. The analyst conducts audits to identify inefficiencies, analyzes market trends for growth opportunities, and recommends changes to improve operational efficiencies. Additionally, they estimate costs for existing and new products, investigate variances, and provide analytical support for departmental projects, contributing to the overall financial health of the organization.
Why be a Job Cost Analyst with IES Residential?
Becoming a Job Cost Analyst with IES Residential offers a unique opportunity to join a company with over 50 years of experience in the electrical services industry, where you can contribute to a culture that prioritizes safety, family, and exceptional customer experiences. As part of a diverse and inclusive team, you'll play a vital role in supporting the company's commitment to financial health and growth through strategic capital allocation and disciplined financial practices.
With access to comprehensive training programs and a supportive work environment, you can accelerate your career while making a positive impact on the communities IESR serves.
Company Benefits
Competitive Wages
401(k) Plan with Contribution Matching
Paid Time Off (PTO)
Company Paid Life Insurance
Medical, Dental, & Vision Coverage
Short Term Disability Plans
Optional Long-Term Disability
Optional Critical Illness, Accident, Legal, & Pet Coverage.
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IES Residential States of Operation
FAQs
What's a Job Cost Analyst's job description?
A Job Cost Analyst is responsible for analyzing and managing financial data to enhance cost efficiency and support strategic decision-making within an organization. This role involves gathering and interpreting financial information to identify inefficiencies, estimate costs, and develop cost reduction strategies. Collaborating with finance, operations, and management, the Job Cost Analyst ensures financial objectives are met while adhering to budget constraints. Key skills include strong analytical abilities, attention to detail, and effective communication to present findings and recommendations to stakeholders, ultimately contributing to the organization's financial health and profitability.
What is the average salary of a Job Cost Analyst?
The average salary of a Job Cost Analyst in the United States typically ranges from $70,000 to $80,000 annually. Entry-level positions may start around $55,000 to $60,000, while experienced analysts can earn up to $100,000 or more, depending on factors like location and industry. Hourly rates generally range from $26 to $48.
How do I get a Job Cost Analyst job?
To get a Job Cost Analyst position, start by obtaining a bachelor's degree in finance, accounting, business, or a related field. Gain 3 to 5 years of experience in roles related to supply chain or finance. Develop strong analytical, mathematical, and problem-solving skills. Enhance your communication and presentation abilities. Become proficient in Microsoft Excel and financial software. Familiarize yourself with data, operational, and financial analysis, as well as accounting processes. Consider obtaining certifications like CPA or CCP to boost your qualifications. Lastly, demonstrate attention to detail and the ability to work under pressure.
What are the job duties of a Job Cost Analyst?
A Job Cost Analyst is responsible for gathering and analyzing financial data related to costs, including inventory, labor, and corporate expenses. Key duties include estimating production costs, managing budgets, and monitoring spending to align with financial objectives. They prepare detailed reports to aid management decisions, conduct audits to identify inefficiencies, and analyze market trends for growth opportunities. Additionally, they recommend changes to improve operational efficiencies, estimate costs for products, identify variances, and suggest cost-reducing solutions. They also liaise with technical teams, generate pricing models, analyze revenue performance, and manage company KPIs.
How much does a Job Cost Analyst make per hour?
A Job Cost Analyst typically earns between $26 and $48 per hour, depending on experience and location.
Is a Job Cost Analyst job fullfilling?
A Job Cost Analyst position can be fulfilling for those who enjoy analyzing financial data, contributing to project profitability, and working in a dynamic environment. The role offers opportunities for problem-solving and collaboration, making it rewarding for detail-oriented individuals passionate about finance and project management.
How long does it take to become a Job Cost Analyst?
To become a Job Cost Analyst, it typically takes about 4 to 6 years. This includes obtaining a bachelor's degree in finance, accounting, or a related field (approximately 4 years), followed by 3 to 5 years of relevant work experience in finance or supply chain analysis. Additional certifications like CPA or CCP can enhance qualifications but may require extra time for study and examination.
Is there a demand for Job Cost Analysts?
Yes, there is a growing demand for Job Cost Analysts as businesses increasingly focus on cost management and efficiency. Their expertise in analyzing project costs and financial performance is essential for informed decision-making, making them valuable in various industries, particularly construction and manufacturing.
What are Job Cost Analyst career paths?
Job Cost Analysts can pursue various career paths, including roles such as Senior Cost Analyst, Cost Accounting Manager, Financial Analyst, Project Manager, and Budget Analyst. They may also advance to positions like Director of Finance or Chief Financial Officer. Additionally, some may specialize in specific industries, such as construction or manufacturing, or transition into consulting roles. Continuous education and certification can further enhance career opportunities in this field.
What are the job responsibilities of a Job Cost Analyst?
A Job Cost Analyst is responsible for gathering and analyzing financial data, estimating production costs, and tracking changes in expenses. Key duties include developing and managing budgets, preparing detailed reports for management, conducting audits to identify inefficiencies, and monitoring actual versus estimated costs. They analyze market trends, recommend improvements in operating procedures, and provide analytical support for departmental projects. Additionally, they estimate product costs, identify variances, suggest cost-reducing solutions, and maintain pricing structures. The role also involves analyzing revenue performance and creating key performance indicators (KPIs) for the organization.
What are the requirements to get a Job Cost Analyst job?
To become a Job Cost Analyst, candidates typically need the following requirements:
- A bachelor's degree in finance, accounting, business, or a related field.
- 3 to 5 years of experience as an analyst in supply chain, finance, or a similar role.
- Strong analytical, mathematical, and problem-solving skills.
- Excellent communication and presentation abilities.
- Proficiency in Microsoft Excel and financial software.
- Experience in data, operational, and financial analysis.
- Knowledge of accounting processes and software.
- Ability to thrive in a high-pressure, deadline-oriented environment.
- Preferred certifications include Certified Public Accountant (CPA) or Certified Cost Professional (CCP).
- Strong attention to detail and accuracy.
- Capability to manage a varied workload effectively.
Are there entry level Job Cost Analyst jobs?
Yes, entry-level Job Cost Analyst positions exist. Typically, candidates need a bachelor's degree in finance, accounting, or a related field. Key skills include strong analytical abilities, proficiency in Excel and accounting software, attention to detail, and effective communication. Familiarity with cost analysis and budgeting principles is also beneficial.
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