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The differences between cost engineers and project 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 project engineer. Additionally, a cost engineer has an average salary of $87,901, which is higher than the $75,050 average annual salary of a project engineer.
The top three skills for a cost engineer include project management, cost analysis and construction management. The most important skills for a project engineer are project management, autocad, and construction management.
| Cost Engineer | Project Engineer | |
| Yearly salary | $87,901 | $75,050 |
| Hourly rate | $42.26 | $36.08 |
| Growth rate | 3% | 2% |
| Number of jobs | 65,278 | 176,689 |
| 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.
A Project Engineer develops the plan that the entire team or company will undertake. The project engineer develops the plans, strategies, and goals of a project and then gives it to the management for approval and allocation. The Project Engineer will also recommend material, equipment, and the type of personnel needed. This position is integral in the smooth flow of any project, so hiring someone to hold this position will decide the success of a project.
Cost engineers and project engineers have different pay scales, as shown below.
| Cost Engineer | Project Engineer | |
| Average salary | $87,901 | $75,050 |
| Salary range | Between $64,000 And $120,000 | Between $55,000 And $100,000 |
| Highest paying City | San Francisco, CA | Richmond, CA |
| Highest paying state | Rhode Island | Washington |
| Best paying company | BP America Inc | Apple |
| Best paying industry | Energy | Energy |
There are a few differences between a cost engineer and a project engineer in terms of educational background:
| Cost Engineer | Project 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 | Massachusetts Institute of Technology |
Here are the differences between cost engineers' and project engineers' demographics:
| Cost Engineer | Project Engineer | |
| Average age | 45 | 41 |
| Gender ratio | Male, 74.1% Female, 25.9% | Male, 87.1% Female, 12.9% |
| 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, 8.7% Asian, 14.5% White, 68.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 5% |