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Cost Allocation Jobs in Virginia (NOW HIRING)

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Cost Allocation information

What is the difference between Cost Allocation vs Cost Analyst?

AspectCost AllocationCost Analyst
Primary RoleDistributing costs to departments or projects based on usageAnalyzing costs to identify trends and improve budgeting
Required SkillsAccounting principles, data analysis, financial softwareFinancial analysis, reporting, data interpretation
Work EnvironmentFinance or accounting departments, corporate settingsFinance teams, consulting firms, corporate finance
CertificationsCPA, CMA often preferredCPA, CMA, or similar financial certifications

Cost Allocation focuses on distributing expenses accurately across departments or projects, ensuring proper cost tracking. Cost Analyst, on the other hand, interprets financial data to support decision-making and budgeting. While both roles require financial expertise and certifications like CPA or CMA, their core functions differ: one allocates costs, the other analyzes them.

What are examples of cost allocation?

Cost allocation involves assigning indirect costs to specific departments, projects, or products based on relevant bases such as labor hours, machine hours, or revenue. Common examples include allocating overhead expenses like rent, utilities, and administrative salaries to different cost centers to accurately determine product or service costs. Accurate cost allocation helps organizations analyze profitability and make informed financial decisions.

What is job cost allocation?

Job cost allocation is the process used by cost accountants and financial professionals to assign direct and indirect costs to specific jobs or projects. It helps organizations determine the true cost and profitability of each job by tracking expenses such as labor, materials, and overhead. Accurate allocation requires understanding of cost drivers and often involves using accounting software or spreadsheets.

What cities in Virginia are hiring for Cost Allocation jobs?

Cities in Virginia with the most Cost Allocation job openings:

Infographic showing various Cost Allocation job openings in Virginia as of August 2026, with employment types broken down into 1% As Needed, 87% Full Time, 10% Part Time, and 2% Contract. Highlights an 92% Physical, 3% Hybrid, and 5% Remote job distribution.

Junior Cost Analyst (Hybrid - Richmond, VA)

Maximus

Richmond, VA • On-site

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 9 days ago


Maximus rating

6.8

Company rating: 6.8 out of 10

Based on 302 frontline employees who took The Breakroom Quiz

299th of 500 rated business services


Job description

General information
Job Posting Title
Junior Cost Analyst (Hybrid - Richmond, VA)
Date
Friday, June 26, 2026
City
Richmond
State
VA
Country
United States
Working time
Full-time
Description & Requirements
Maximus is seeking detail-oriented Junior Cost Analysts to support cost allocation plan development, cost analysis, indirect cost rate development, and financial analysis for state and local government clients. This hybrid, full-time role in Richmond, VA requires strong analytical and problem-solving skills, proficiency in Microsoft Excel (including Pivot Tables and VLOOKUPs), and a basic understanding of accounting principles. The ideal candidate can work independently and collaboratively, demonstrates initiative, and has an interest in government finance. Training and professional development opportunities are provided.
Why Maximus?
- Competitive Compensation - Annual bonuses based on performance included!
- Comprehensive Insurance Coverage - Choose from various plans, including Medical, Dental, Vision, Prescription, and partially funded HSA. Additionally, enjoy Life insurance benefits and discounts on Auto, Home, Renter's, and Pet insurance.
- Future Planning - Prepare for retirement with our 401K Retirement Savings plan and Company Matching.
- Paid Time Off Package - Enjoy UTO, Holidays, and sick leave, along with Short- and Long-Term Disability coverage.
- Holistic Wellness Support - Access resources for physical, emotional, and financial wellness through our Employee Assistance Program (EAP).
- Recognition Platform - Acknowledge and appreciate outstanding employee contributions.
- Tuition Reimbursement - Invest in your ongoing education and development.
- Employee Perks and Discounts - Additional benefits and discounts exclusively for employees.-
Maximus Wellness Program and Resources - Access a range of wellness programs and resources tailored to your needs.
- Professional Development Opportunities - Participate in training programs, workshops, and conferences. smooth operation of project activities.
Essential Duties and Responsibilities: - Perform cost allocation and cost of service studies for state and local governments. - Support projects/initiatives by analyzing costs, processes and procedures for government agencies. - Gather necessary client financial information, analyze accounts, and prepare reports documenting findings of such analysis. - Facilitate meetings or conducts interviews with clients. - - Participate in client meetings. - Achieve and/or exceed client satisfaction metrics that will increase satisfaction annually. - Manage the activities of projects in accordance with Maximus established policies and procedures. - Perform other duties as may be assigned by management.
- Support projects and initiatives by analyzing costs, processes and/or procedures for government agencies.
- Prepare cost allocation and cost of service studies for state and local governments.
- Produce high quality project deliverables that meet or exceed performance expectations including scope of work requirements, financial objectives (revenue and profit goals), and implementation time frames.
- Gather necessary client financial information (such as expenditure reports, revenue reports, billing invoices, budgets, time sheets, work orders, fixed asset reports, depreciation reports, contracts, and general ledgers).
- Analyze complex data to identify patterns, recommend actions and measure outcomes.
- Present findings verbally and/or in writing.
- Conduct research of existing and new state and federal regulations.
- Facilitate meetings or conduct interviews with customers (internal and external), clients and teammates based on project assignments while seeking opportunities to add value above and beyond competitors.
- Achieve and/or exceed client satisfaction metrics.
- Manage the activities of projects in accordance with company established policies and procedures.
- Develop strong client relationships.
- Participate in responding to public solicitations.
- Identify additional product and service opportunities in customer organization.
- This role has a component that involves up to 25% travel.
- Performs other duties as may be assigned by management.
Minimum Requirements
- Bachelor's degree with 0-3 years of experience consulting within designated function. - Able to develop solutions to moderately complex problems.
- Equivalent combination of education and relevant experience considered in lieu of Bachelor's degree requirement.
- Demonstrated knowledge of Microsoft Office, especially advanced Excel (pivot tables, VLookup, etc.) skills.
- Excellent verbal and written communication skills.
- Experience using algebra and mathematics involving the application of fractions, percentages, ratios and proportions.
- Ability to prepare and present clear and concise client-ready documents (superior attention to detail).
- Must reside within a commutable distance of our Richmond, VA office.
- Must be willing and able to work onsite in Richmond, VA as well as remotely.
Preferred Skills and Qualifications:
- 6+ months of related work experience or equivalent internship.
- Understanding of cost accounting/cost allocation concepts.
- Knowledge of governmental accounting principles.
- Familiarity with local government operations.
Home Office Requirements:
- Internet speed of 20mbps or higher required (you can test this by going to www.speedtest.net).
- Connectivity to the internet via either Wi-Fi or Category 5 or 6 ethernet patch cable to the home router.
- Must currently and permanently reside in the Continental US.
#LI-Hybrid
EEO Statement
Maximus is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information and other legally protected characteristics.
Pay Transparency
Maximus compensation is based on various factors including but not limited to job location, a candidate's education, training, experience, expected quality and quantity of work, required travel (if any), external market and internal value analysis including seniority and merit systems, as well as internal pay alignment. Annual salary is just one component of Maximus's total compensation package. Other rewards may include short- and long-term incentives as well as program-specific awards. Additionally, Maximus provides a variety of benefits to employees, including health insurance coverage, life and disability insurance, a retirement savings plan, paid holidays and paid time off. Compensation ranges may differ based on contract value but will be commensurate with job duties and relevant work experience. An applicant's salary history will not be used in determining compensation. Maximus will comply with regulatory minimum wage rates and exempt salary thresholds in all instances.
Accommodations
Maximus provides reasonable accommodations to individuals requiring assistance during any phase of the employment process due to a disability, medical condition, or physical or mental impairment. If you require assistance at any stage of the employment process-including accessing job postings, completing assessments, or participating in interviews,-please contact People Operations at applicantaccom@maximus.com.
Minimum Salary
$
55,000.00
Maximum Salary
$
65,000.00

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