The paper reports the concept, the methodology and results of the investigation of possibilities in the application of compound hard-alloy end millers equally with monolithic ones. It is shown that in the majority of operation conditions for general mechanical engineering the compound millers ensure the reduction of tool costs in the cost price of a product at the expense of tool hard alloy saving through manufacturing a miller shank with the use of cheaper material and a place of joining a shank and a cutting element ensures miller operation on high performance modes of cutting without detriment to productivity and machining quality. Material costs at the expense of the reduction of tool hard alloy used are decreased by 30-70% depending on material of a shank and a miller length. The example of compound miller design is presented. The method and results of the deformation computer simulation of such a miller under different operation conditions, error values in machining with a compound miller are illustrated.