How to Become a Cost Estimator
What is a Cost Estimator
When we purchase a product or avail of a service, we rarely think about the effort it takes to produce them. Products or services are not made overnight. There are processes involved in planning, manufacturing, and selling these items. Before products or services become available to the market, they go through various stages. One of the earliest stages involves estimating how much raw materials, time, and manpower it would cost to finish a product or service. This is where cost estimators come in.
Cost estimators are professionals who handle the collection, analysis, and assessment of data regarding the price of the raw materials, labor, and time needed to manufacture a product or create a service. Their job is important because it also determines how much the product or service can be sold to make it both profitable to the company and affordable to the customers.
Often, cost estimators specialize in a specific industry, product, or function. If this is interesting to you, you need to build up your industry knowledge and experience. You also need to be organized, analytical, and logical. Of course, you also need to be an excellent team player since you will be coordinating with people.
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.
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 Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of Estimator you might progress to a role such as Estimator Project Manager eventually. Later on in your career, you could end up with the title Senior Construction Manager.
Cost Estimator Jobs You Might Like
What is the right job for my career path?
Tell us your goals and we'll match you with the rights job to get there.
Average Salary for a Cost Estimator
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5 Cost Estimator Resume Examples
Build a professional cost estimator resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 5+ resume templates to create your cost estimator resume.
Elizabeth Wagner Cost Estimator |
Elizabeth Wagner Cost Estimator Experience Cost Estimator2020 - Present Boeing•North Charleston, SC
Production Planner2015 - 2020 Hexcel•Main, PA
Logistics Coordinator2012 - 2015 Old Navy•Main, PA
Skills Project ManagementPhysical InventoryProduction FloorTimberlineInventory AccuracyFacilityMaterial PlanningCommunicationERPProduct Development Education Bachelor's Degree Business2004 - 2007 Pennsylvania State University•Main, PA |
Learn How To Write a Cost Estimator Resume
At Zippia, we went through countless Cost Estimator resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.
View Cost Estimator Resume Examples And TemplatesAnd if you’re looking for a job, here are the five top employers hiring now:
Choose From 10+ Customizable Cost Estimator Resume templates
Zippia allows you to choose from different easy-to-use Cost Estimator templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Cost Estimator resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Find the best Cost Estimator job for you
Cost Estimator Jobs You Might Like
- High Paying Cost Estimator Jobs - $105K and Up
- Entry Level Cost Estimator Jobs
- Part Time Cost Estimator Jobs
- Actively Hiring
- No Degree Cost Estimator Jobs
Top Colleges for Cost Estimators
1. California Polytechnic State University-San Luis Obispo
San Luis Obispo, CA • Private
2. Northwestern University
Evanston, IL • Private
3. New York University
New York, NY • Private
4. University of Southern California
Los Angeles, CA • Private
5. University of Pennsylvania
Philadelphia, PA • Private
6. University of Michigan - Ann Arbor
Ann Arbor, MI • Private
7. Stanford University
Stanford, CA • Private
8. Pennsylvania State University
University Park, PA • Private
9. Worcester Polytechnic Institute
Worcester, MA • Private
10. Lehigh University
Bethlehem, PA • Private
Find the best Cost Estimator job for you
Cost Estimator Jobs You Might Like
- High Paying Cost Estimator Jobs - $105K and Up
- Entry Level Cost Estimator Jobs
- Part Time Cost Estimator Jobs
- Actively Hiring
- No Degree Cost Estimator Jobs
Online Courses For Cost Estimator That You May Like
Learn how to estimate costs for any project, how to determine budget and how to use Earned Value Management tools. 3 PDU...
This course introduces the types of cost estimation from the conceptual design phase through the more detailed design phase of a construction project. In addition, the course highlights the importance of controlling costs and how to monitor project cash flow. Students will work on a break-even analysis of construction tasks in a project...
Cost cutting & cost reduction for a profit focused business...
Top Skills For a Cost Estimator
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 41.8% of Cost Estimators listed Facility on their resume, but soft skills such as Analytical skills and Communication skills are important as well.
Best States For a Cost Estimator
Some places are better than others when it comes to starting a career as a Cost Estimator. The best states for people in this position are Alaska, Washington, Oregon, and Vermont. Cost Estimators make the most in Alaska with an average salary of $104,043. Whereas in Washington and Oregon, they would average $91,913 and $84,316, respectively. While Cost Estimators would only make an average of $83,622 in Vermont, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. Oregon
$84,316
Avg. Salary
2. Washington
$91,913
Avg. Salary
3. Alaska
$104,043
Avg. Salary