Become A Cost Estimator
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Working As A Cost Estimator
- Getting Information
- Interacting With Computers
- Estimating the Quantifiable Characteristics of Products, Events, or Information
- Analyzing Data or Information
- Communicating with Supervisors, Peers, or Subordinates
Mostly Sitting
$49,701
Average Salary
What Does A Cost Estimator Do
Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular product or industry.
DutiesCost estimators typically do the following:
- Identify factors affecting costs, such as production time, materials, and labor
- Read blueprints and technical documents in order to prepare estimates
- Collaborate with engineers, architects, clients, and contractors
- Calculate, analyze, and adjust estimates
- Recommend ways to reduce costs
- Work with sales teams to prepare estimates and bids for clients
- Maintain records of estimated and actual costs
Accurately estimating the costs of construction and manufacturing projects is vital to the survival of businesses. Cost estimators provide managers with the information they need in order to submit competitive contract bids or price products appropriately.
Estimators analyze production processes to determine how much time, money, and labor a project needs. Their estimates account for many factors, including allowances for wasted material, bad weather, shipping delays, and other variables that can increase costs and lower profitability.
In building construction, cost estimators use software to simulate the construction process and evaluate the effects of design choices. They often consult databases to compare the costs of similar projects.
The following are examples of types of cost estimators:
Construction cost estimators prepare estimates for a building project. They may calculate the total cost of building a bridge or commercial shopping center, or they may calculate the cost of just one component, such as the foundation. They identify costs of elements such as raw materials and labor, and they may set a timeline for how long they expect the project to take. Although many work directly for construction firms, some work for contractors and engineering firms.
Manufacturing cost estimators calculate the costs of developing, producing, or redesigning a company’s goods or services. For example, a cost estimator working for a home appliance manufacturer may determine a new dishwasher’s production costs, allowing managers to make production decisions.
Some manufacturing cost estimators work in software development. Many high-technology products require a considerable amount of computer programming, and calculating the costs of software development requires great expertise.
Other workers, such as operations research analysts and construction managers, may also estimate costs in the course of their usual duties.
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How To Become A Cost Estimator
A bachelor’s degree is generally required to become a cost estimator, although some highly experienced construction workers may qualify without a bachelor’s degree.
EducationEmployers generally prefer candidates who have a bachelor’s degree. A strong background in mathematics is essential.
Construction cost estimators typically need a bachelor’s degree in an industry-related field, such as construction management, building science, or engineering.
Those interested in estimating manufacturing costs typically need a bachelor’s degree in engineering, business, or finance.
TrainingSome newly hired cost estimators may receive on-the-job training, depending on their experience. Training may include learning a company’s cost-estimating software and techniques.
Work Experience in a Related OccupationSome employers prefer that construction cost estimators, particularly those without a bachelor’s degree, have previous work experience in the construction industry. For example, experienced electricians and plumbers can become construction cost estimators if they have the necessary construction knowledge and math skills.
Candidates interested in becoming cost estimators can also gain experience through internships and cooperative education programs.
Licenses, Certifications, and RegistrationsVoluntary certification can show competence and experience in the field. In some instances, employers may require professional certification before hiring.
The following organizations offer a variety of certifications:
- American Society of Professional Estimators
- Association for the Advancement of Cost Estimating International
- International Cost Estimating and Analysis Association
Estimators must generally have at least 2 years of estimating experience and must pass a written exam to become certified.
Important QualitiesAnalytical skills. Cost estimators consider and evaluate different construction and manufacturing methods and options to determine the most cost-effective solution that meets the required specifications.
Detail oriented. Cost estimators must pay attention to details, as minor changes can significantly affect the overall cost of a project or product.
Math skills. Cost estimators calculate labor, material, and equipment cost estimates for construction projects. They use software, such as spreadsheets and databases, and they need excellent math skills to accurately calculate these estimates.
Time-management skills. Cost estimators often work on fixed deadlines, so they must plan their work in advance and work efficiently and accurately.
Writing skills. Cost estimators write comprehensive reports, which often help managers make production decisions.
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Cost Estimator jobs
Cost Estimator Career Paths
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Estimator Project Manager 5.4 years
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Chief Estimator 5.2 years
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Senior Estimator 4.9 years
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Cost Estimator 4.0 years
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Electrical Estimator 3.8 years
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Project Estimator 3.3 years
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Construction Estimator 3.3 years
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Cost Engineer 3.2 years
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Engineer/Estimator 3.1 years
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Estimator 3.1 years
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Cost Analyst 3.0 years
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Project Manager 15.7%
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Estimator 10.0%
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Project Engineer 8.7%
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Senior Estimator 5.1%
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Internship 4.6%
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Cost Engineer 4.4%
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Manager 4.1%
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Construction Manager 4.0%
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Supervisor 3.8%
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Finance Analyst 3.8%
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Cost Analyst 3.6%
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Process Engineer 3.5%
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Industrial Engineer 3.3%
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Owner 3.2%
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Sales Representative 3.2%
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Project Coordinator 3.0%
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Project Manager 16.2%
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Program Manager 8.2%
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Estimator 5.8%
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Project Engineer 5.6%
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Senior Estimator 5.6%
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Consultant 5.1%
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Cost Analyst 5.0%
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Finance Analyst 5.0%
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Cost Engineer 4.3%
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Owner 4.2%
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Senior Cost Analyst 3.7%
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Operations Manager 3.7%
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Sales Manager 3.0%
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Projects Controller 3.0%
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Manager 2.9%
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Office Manager 2.9%
Average Length of Employment
Top Careers Before Cost Estimator
Top Careers After Cost Estimator
Cost Estimator Demographics
Gender
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Male
73.7% -
Female
23.2% -
Unknown
3.1%
Ethnicity
-
White
76.0% -
Hispanic or Latino
11.7% -
Asian
9.3% -
Unknown
2.2% -
Black or African American
0.9%
Languages Spoken
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Spanish
37.2% -
Chinese
9.0% -
French
9.0% -
Mandarin
7.7% -
German
6.4% -
Russian
6.4% -
Korean
5.1% -
Japanese
3.8% -
Dakota
3.8% -
Portuguese
2.6% -
Turkish
1.3% -
Vietnamese
1.3% -
Dari
1.3% -
Carrier
1.3% -
Hindi
1.3% -
Arabic
1.3% -
Gujarati
1.3%
Cost Estimator
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Cost Estimator Education
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University of Phoenix
11.0% -
Texas A&M University
7.8% -
Michigan State University
7.1% -
Drexel University
7.1% -
University of Arizona
6.5% -
Old Dominion University
5.2% -
University of Houston
5.2% -
San Diego State University
4.5% -
Temple University
3.9% -
University of Southern Mississippi
3.9% -
University of Dayton
3.9% -
University of Texas at Austin
3.9% -
University of Central Florida
3.9% -
Purdue University
3.9% -
Baker College
3.9% -
Southern New Hampshire University
3.9% -
Georgia Institute of Technology -
3.9% -
Lawrence Technological University
3.9% -
Wayne State University
3.2% -
University of Toledo
3.2% -
Business 28.0%
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Civil Engineering 9.1%
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Accounting 6.9%
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Finance 6.1%
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Management 4.8%
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Project Management 3.4%
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Drafting And Design 2.8%
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Economics 2.7%
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Architecture 2.5%
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Engineering 2.5%
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Mathematics 2.2%
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Education 1.5%
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Political Science 1.4%
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Marketing 1.4%
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Bachelors
43.5% -
Masters
23.9% -
Other
19.2% -
Associate
8.1% -
Certificate
4.0% -
Doctorate
0.6% -
Diploma
0.5% -
License
0.3%
Schools
Majors
Degrees
Cost Estimator
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Real Cost Estimator Salaries
Job Title
|
Company
|
Location
|
Start Date
|
Salary
|
|---|---|---|---|---|
| Vice President-Quantity Surveying and Cost Estimating | WTP America LLC | Los Angeles, CA | Oct 01, 2015 | $165,000 |
| Senior Cost Estimator | Bethel Servies, Incorporated | Anchorage, AK | Jan 09, 2016 | $160,000 |
| Senior Cost Estimator | Navillus Tile Inc. DBA Navillus Contracting | New York, NY | Jul 22, 2016 | $144,040 |
| Cost Estimator | E. Fitzgerald Electric Co | NY | Sep 12, 2015 | $138,965 |
| Cost Estimator | E. Fitzgerald Electric Co | NY | Jun 29, 2015 | $138,965 |
| Cost Estimator | J. Phelan Construction Co., Inc. | Huntington, NY | Jun 01, 2016 | $136,406 |
| Cost Estimator | Microsoft Corporation | Redmond, WA | Aug 17, 2016 | $130,000 |
| Data Center Construction Cost Estimator | Facebook, Inc. | Menlo Park, CA | Oct 12, 2015 | $126,000 |
| Cost Estimator | Safway Atlantic LLC | Carlstadt, NJ | Mar 04, 2015 | $125,000 |
| Cost Estimator | DGC Capital Contracting Corporation | Mount Vernon, NY | Oct 12, 2015 | $115,856 |
| Cost Estimator | Judlau Contracting, Inc. | Alexandria, VA | Mar 02, 2015 | $105,000 |
| Building Information Modelling (BIM) Cost Estimator | Turner & Townsend, Inc. | South San Francisco, CA | Jul 29, 2016 | $105,000 |
| Cost Estimator | Geomatrix Services, Inc. | Bound Brook, NJ | Mar 17, 2016 | $64,584 |
| Senior Cost Estimator | Cooper-Standard Automotive Inc. | Auburn Hills, MI | Sep 22, 2016 | $63,586 - $85,587 |
| Senior Cost Estimator | Cooper-Standard Automotive Inc. | Novi, MI | Sep 26, 2016 | $63,586 - $85,675 |
| Cost Estimator-II | SLR Contracting & Service Company, Inc. | Buffalo, NY | Mar 15, 2016 | $63,500 |
| Cost Estimator | John Darvish Construction Co. | Ashburn, VA | Sep 15, 2016 | $63,000 |
| Cost Estimator | Grakon, LLC | Des Moines, WA | Aug 30, 2016 | $62,629 - $74,818 |
| Cost Estimator | ESNY Construction Services Inc. | New York, NY | Sep 21, 2016 | $62,610 |
| Cost Estimator | Hollywood International Regional Center, LLC | Los Angeles, CA | Aug 13, 2016 | $62,610 |
| Cost Estimator | Thoth Estimating LLC | Weatherford, TX | Jan 02, 2016 | $51,834 |
| Cost Estimator | VJ Associates of New England, Inc. | Washington, DC | Sep 05, 2015 | $51,563 |
| Cost Estimator | VJ Associates of New England, Inc. | Needham, MA | Sep 05, 2015 | $51,563 |
| Cost Estimator | Treviicos Corporation | MA | Sep 23, 2015 | $51,563 |
| Cost Estimator | ITG International Transports, Inc. | Lynnfield, MA | Sep 03, 2015 | $51,563 |
| Senior Cost Estimator | Cityrock Countertops, Inc. | Raleigh, NC | Jul 12, 2016 | $51,522 |
| Project Cost Estimator | Shields, Inc. | Winston-Salem, NC | Sep 22, 2016 | $50,960 |
| Cost Estimator | Soho Fashion, Inc. | Los Angeles, CA | Dec 21, 2016 | $50,835 |
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Top Skills for A Cost Estimator
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Top Cost Estimator Skills
- Cost Proposals
- Vendors
- Contract Negotiations
- Developed cost proposals for various military and commercial vessels, particularly electronic systems.
- Identified and evaluated national vendors and subcontractors; built and maintained relationships.
- Participate in subcontract negotiations / evaluate subcontract proposals.
- Estimated material costs, machining times and other processes necessary for production of commercial and military parts.
- Prepared financial analysis in support of proposals.
Top Cost Estimator Employers
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