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The differences between cost engineers and equipment 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 equipment engineer. Additionally, an equipment engineer has an average salary of $97,539, 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 equipment engineer are equipment performance, semiconductor, and project management.
| Cost Engineer | Equipment Engineer | |
| Yearly salary | $87,901 | $97,539 |
| Hourly rate | $42.26 | $46.89 |
| Growth rate | 3% | 2% |
| Number of jobs | 65,278 | 108,449 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 69% |
| 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.
The duties of an equipment engineer depend on one's organization or industry of employment. Typically, their responsibilities revolve around designing and developing mechanical and electronic equipment, analyzing and improving existing systems, performing customization according to customers' preferences, installing and removing attachments, and conducting regular maintenance procedures. An equipment engineer must also address issues and complaints, providing corrective measures promptly and efficiently. Furthermore, it is essential to coordinate with team members and other specialists, inspect and test new systems, and adhere to the company's policies and regulations.
Cost engineers and equipment engineers have different pay scales, as shown below.
| Cost Engineer | Equipment Engineer | |
| Average salary | $87,901 | $97,539 |
| Salary range | Between $64,000 And $120,000 | Between $69,000 And $136,000 |
| Highest paying City | San Francisco, CA | Fremont, CA |
| Highest paying state | Rhode Island | Louisiana |
| Best paying company | BP America Inc | Cheniere Energy |
| Best paying industry | Energy | Energy |
There are a few differences between a cost engineer and an equipment engineer in terms of educational background:
| Cost Engineer | Equipment Engineer | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 69% |
| Most common major | Business | Mechanical Engineering |
| Most common college | Georgia Institute of Technology | Michigan Technological University |
Here are the differences between cost engineers' and equipment engineers' demographics:
| Cost Engineer | Equipment Engineer | |
| Average age | 45 | 41 |
| Gender ratio | Male, 74.1% Female, 25.9% | Male, 91.7% Female, 8.3% |
| 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, 3.2% Unknown, 4.5% Hispanic or Latino, 8.4% Asian, 15.1% White, 68.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 5% |