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What does a Costs Manager earn?
Costs Managers typically earn around £42,300 per year in the UK. Costs Managers are responsible for managing finances within organisations, which includes preparing and managing budgets, financial forecasts and monitoring the company's overall spending. They may also be involved in negotiating contracts with suppliers, plus creating and adhering to policies concerning the purchase of goods and services.
How to earn more as a Costs Manager
If you want to become a Costs Manager, you will need a degree in surveying, construction, business management, or engineering. Alternatively, you may be able to take a degree apprenticeship. To maximize your earning potential, you could choose to specialize in a specific area such as land management or construction, or become a manager of a costs firm. You could also opt for the self-employment route or create your own costs business. The highest paid Costs Managers can make over £65,000 a year.
Min: £25,000.00 Max: £65,000.00
Average Costs Manager Salary in UK : £42,341.84
Read about Costs Manager salaries, related jobs and salary information across the UK
Costs Manager Salary data from the ONS
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Age Group
Recommended Costs Manager Jobs in UK
Average Salary for Costs Manager compared to similar jobs
Related Jobs
View salaries for similar jobs.
| Job Title | UK Average |
|---|---|
| Finance Controller Salary in UK | £21,763.46 |
| Finance Manager Salary in UK | £23,551.28 |
| Finance Business Partner Salary in UK | £27,211.57 |
| Finance Officer Salary in UK | £32,962.08 |
| Branch Financial Manager Salary in UK | £40,210.25 |
| Cash Manager Salary in UK | £42,604.76 |
| Financial Auditor Salary in UK | £47,228.48 |
| Financial Controller Salary in UK | £47,983.36 |
| Economist Salary in UK | £48,871.84 |
| Finance Director Salary in UK | £48,932.75 |
| Budget Manager Salary in UK | £51,247.84 |
| Risk Management Specialist Salary in UK | £52,296.44 |
| Financial Accounting Manager Salary in UK | £52,551.37 |
| Financial manager Salary in UK | £54,719.84 |
| Financial Regulator Salary in UK | £58,910.77 |
Salary by Region
Compare Costs Manager salaries across different regions
| Region | Salary |
|---|---|
| Scotland | £23,440.64 |
| East Midlands | £30,693.70 |
| London | £46,582.24 |
| South East | £34,702.50 |
| South West | £55,699.38 |
| West Midlands | £41,006.03 |
| Yorkshire and the Humber | £27,666.23 |
Annual Job Ads by Region
Understanding the Average Costs Manager Salary in the UK
As a Costs Manager in the UK, it is important to have a clear understanding of the average salary in this field. According to average Finance salaries, the average salary for a Costs Manager in the UK is £42,300 per year. This figure can vary depending on factors such as experience, qualifications, and location.
Salary Expectations for Newly Qualified Costs Manager
If you are a newly qualified Costs Manager, it is essential to have realistic salary expectations. Entry-level positions in this field typically offer a starting salary range of £25,000 to £65,000 per year. To explore job opportunities for newly qualified Costs Managers, you can visit our job search page.
Salaries for Experienced Costs Manager
Experienced Costs Managers in the UK can expect higher salaries compared to their entry-level counterparts. With a proven track record and extensive experience in the field, you can earn a salary ranging from £25,000 to £65,000 per year. This increase in salary reflects the expertise and value you bring to the role.
Creating a Costs Manager CV
When applying for a Costs Manager position, it is crucial to have a well-crafted CV that highlights your skills and experience. To help you create an impressive CV, you can utilize our CV template specifically designed for Costs Managers. This template will guide you in showcasing your qualifications and achievements effectively.
Career Development Opportunities for Costs Manager
As a Costs Manager, there are various career development opportunities available to you. Whether you want to specialize in a specific industry or progress to a senior management role, it is essential to stay updated with the latest trends and advancements in the field. For valuable career advice and guidance, you can refer to our career advice section.
Comprehensive Compensation for Costs Manager
Aside from the base salary, Costs Managers in the UK may also receive additional compensation and benefits. These can include bonuses, profit-sharing, pension schemes, healthcare coverage, and more. The comprehensive compensation package ensures that your hard work and dedication are duly rewarded.
Strategies for Increasing Your Salary as a Costs Manager
If you aspire to increase your salary as a Costs Manager, there are several strategies you can employ. These include continuously improving your skills and knowledge, taking on additional responsibilities, seeking promotions, and negotiating for higher pay during performance reviews. By actively pursuing these strategies, you can enhance your earning potential in this role.
Professional Development and Earnings
Investing in your professional development can significantly impact your earnings as a Costs Manager. By attending relevant training programs, obtaining certifications, and staying updated with industry best practices, you can position yourself as a highly skilled professional. This, in turn, can lead to better job opportunities and higher salary offers.
Capitalising on Extra Hours and Duties
As a Costs Manager, there may be opportunities to earn additional income by taking on extra hours or duties. Some organizations offer overtime pay or bonuses for working beyond regular hours or handling additional responsibilities. By capitalizing on these opportunities, you can further boost your salary as a Costs Manager.
