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The differences between cost engineers and mechanical 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 a mechanical engineer. Additionally, a cost engineer has an average salary of $87,901, which is higher than the $75,352 average annual salary of a mechanical engineer.
The top three skills for a cost engineer include project management, cost analysis and construction management. The most important skills for a mechanical engineer are CAD, solidworks, and mechanical systems.
| Cost Engineer | Mechanical Engineer | |
| Yearly salary | $87,901 | $75,352 |
| Hourly rate | $42.26 | $36.23 |
| Growth rate | 3% | 2% |
| Number of jobs | 65,278 | 105,618 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 77% |
| 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.
Mechanical Engineers oversee the development of various mechanical devices in different industries. Most of the responsibilities will revolve around crafting, improving, or designing technologies by utilizing extensive expertise in the subject; they identify and detect errors, provide in-depth analysis, and resolve issues. They are often in designated offices, but they can also work on-site and travel if necessary. Furthermore, Mechanical Engineers usually function in a group or team setting, often supervised by personnel in higher positions.
Cost engineers and mechanical engineers have different pay scales, as shown below.
| Cost Engineer | Mechanical Engineer | |
| Average salary | $87,901 | $75,352 |
| Salary range | Between $64,000 And $120,000 | Between $58,000 And $97,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Rhode Island | Washington |
| Best paying company | BP America Inc | Meta |
| Best paying industry | Energy | Energy |
There are a few differences between a cost engineer and a mechanical engineer in terms of educational background:
| Cost Engineer | Mechanical Engineer | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 77% |
| Most common major | Business | Mechanical Engineering |
| Most common college | Georgia Institute of Technology | Michigan Technological University |
Here are the differences between cost engineers' and mechanical engineers' demographics:
| Cost Engineer | Mechanical Engineer | |
| Average age | 45 | 41 |
| Gender ratio | Male, 74.1% Female, 25.9% | Male, 90.6% Female, 9.4% |
| 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, 3.1% Unknown, 4.5% Hispanic or Latino, 7.8% Asian, 16.6% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 5% |