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The differences between cost engineers and production engineers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a cost engineer, becoming a production engineer takes usually requires 2-4 years. Additionally, a production engineer has an average salary of $89,727, 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 a production engineer are java, continuous improvement, and lean manufacturing.
| Cost Engineer | Production Engineer | |
| Yearly salary | $87,901 | $89,727 |
| Hourly rate | $42.26 | $43.14 |
| Growth rate | 3% | 10% |
| Number of jobs | 65,278 | 94,789 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 76% |
| Average age | 45 | 42 |
| Years of experience | 6 | 4 |
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.
A production engineer is responsible for monitoring the production operations, ensuring everyone's adherence to safety protocols, and evaluating the staff's performance, strategizing on maximizing productivity to deliver efficient results that would drive revenues and increase profitability. Production engineers inspect the reliability of production equipment and machinery, conducting preventive maintenance, and repair inconsistencies to prevent production delays. They also identify areas of improvement with the manufacturing processes and escalate best practices for improvement. A production engineer must be knowledgeable about technological advancements and incorporate ideas to minimize costs without sacrificing the quality of services.
Cost engineers and production engineers have different pay scales, as shown below.
| Cost Engineer | Production Engineer | |
| Average salary | $87,901 | $89,727 |
| Salary range | Between $64,000 And $120,000 | Between $64,000 And $125,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Rhode Island | California |
| Best paying company | BP America Inc | Cheniere Energy |
| Best paying industry | Energy | Technology |
There are a few differences between a cost engineer and a production engineer in terms of educational background:
| Cost Engineer | Production Engineer | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 76% |
| Most common major | Business | Mechanical Engineering |
| Most common college | Georgia Institute of Technology | Northwestern University |
Here are the differences between cost engineers' and production engineers' demographics:
| Cost Engineer | Production Engineer | |
| Average age | 45 | 42 |
| Gender ratio | Male, 74.1% Female, 25.9% | Male, 86.7% Female, 13.3% |
| 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, 4.3% Unknown, 3.9% Hispanic or Latino, 10.5% Asian, 15.4% White, 65.7% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 4% |