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The differences between cost engineers and engineers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a cost engineer and an engineer. Additionally, an engineer has an average salary of $92,077, which is higher than the $87,901 average annual salary of a cost engineer.
The top three skills for a cost engineer include project management, cost analysis and construction management. The most important skills for an engineer are python, cloud, and C++.
| Cost Engineer | Engineer | |
| Yearly salary | $87,901 | $92,077 |
| Hourly rate | $42.26 | $44.27 |
| Growth rate | 3% | 2% |
| Number of jobs | 65,278 | 618,207 |
| Job satisfaction | - | 4.33 |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 65% |
| Average age | 45 | 41 |
| Years of experience | 6 | 6 |
A cost engineer is responsible for projecting cost and expenses reports for the production process, identify and mitigate risks, and develop strategic techniques to reduce the excessive financial loss for project buildings. Cost engineers conduct data and statistical analysis to measure time deliverables and quality checks to ensure profitability and adherence to business objectives. They research and negotiate materials from trusted suppliers and vendors with high-quality products that would meet construction designs and client specifications.
Engineers are highly trained professionals who determine the feasibility of various projects, usually related to the construction industry. They are considered experts in mathematics and science, two disciplines that they need to use in designing and coming up with plans for projects. They should also be well-versed in different construction or industrial materials, and they ensure that appropriate materials are used for the project. They also ensure that the projects meet the requirements of the groups that hired them. They create spaces that would both address the needs of the end-users and the industry standards. They also ensure that the projects they make would stand the test of time.
Cost engineers and engineers have different pay scales, as shown below.
| Cost Engineer | Engineer | |
| Average salary | $87,901 | $92,077 |
| Salary range | Between $64,000 And $120,000 | Between $65,000 And $130,000 |
| Highest paying City | San Francisco, CA | Huntsville, AL |
| Highest paying state | Rhode Island | New Hampshire |
| Best paying company | BP America Inc | Fort Bend County |
| Best paying industry | Energy | Automotive |
There are a few differences between a cost engineer and an engineer in terms of educational background:
| Cost Engineer | Engineer | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 65% |
| Most common major | Business | Mechanical Engineering |
| Most common college | Georgia Institute of Technology | Michigan Technological University |
Here are the differences between cost engineers' and engineers' demographics:
| Cost Engineer | Engineer | |
| Average age | 45 | 41 |
| Gender ratio | Male, 74.1% Female, 25.9% | Male, 86.3% Female, 13.7% |
| Race ratio | Black or African American, 4.9% Unknown, 4.7% Hispanic or Latino, 11.3% Asian, 14.4% White, 64.5% American Indian and Alaska Native, 0.2% | Black or African American, 3.3% Unknown, 4.6% Hispanic or Latino, 9.1% Asian, 15.0% White, 67.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 5% |