What does a cost estimator do?
A cost estimator is responsible for conducting data and statistical analysis and cost forecasting to determine the duration, budget limitations, and required resources for project construction and development. Cost estimators identify possible cost-reduction techniques by researching the market and negotiating with suppliers and vendors with high-quality deliverables. They also review project plans and blueprints to provide accurate estimation reports for reference. A cost estimator must have excellent communication and analytical skills, documenting every progress, and adjust estimation plans as needed.
Cost estimator responsibilities
Here are examples of responsibilities from real cost estimator resumes:
- Manage prevailing wage for payroll and prepare and submit bi-weekly certify payroll reports.
- Assess effectiveness of quotation after 1st run (NPI).
- Use 3D cad software to design parts and assemblies drawings for production use.
- Coordinate demolition, construction, plumbing and painting crews, completing the project on time and under budget.
- Evaluate labor, material, and ODC estimates for compliance with RFP specifications, cost-estimating procedures and government regulations.
- Prepare elaborate proposals for plumbing, electrical, fire protection, HVAC, architectural and structural plans and specifications.
- Collaborate with personnel to estimate costs for large profitable projects and compose bids for requests for proposal (RFP).
- Obtain measurements, photos and documentation to process remotely Xactimate estimates to submit for insurance and customer approval.
- Maintain part routings & specifications in MRP system.
- Procure LEED specifications on various products to ensure compliance with customer preferences including reclaim material.
Cost estimator skills and personality traits
We calculated that 30% of Cost Estimators are proficient in Worksheets, Risk Analysis, and Project Management. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Cost Estimators that have these skills listed on their resume here:
- Worksheets, 30%
Utilized Lotus and Excel spreadsheets for reduction of time to prepare cost estimates by replacing manual worksheets.
- Risk Analysis, 21%
Conduct risk analysis of specifications and contractual language to develop a detail project synopsis for senior management decision-making.
- Project Management, 4%
Project Management responsibilities include all aspects of project from initial consultation with client; planning and obtaining approvals and construction permits.
- Cost Analysis, 3%
Perform real time cost analysis for Government Cost Reimbursable activity to identify and analyze anomalies and variances.
- PowerPoint, 3%
Established bids using Microsoft Excel and PowerPoint.
- DOD, 3%
Cost Estimator and co-Cost Volume Leader of internal and external pop-up FAA and DoD proposals.
"worksheets," "risk analysis," and "project management" are among the most common skills that cost estimators use at work. You can find even more cost estimator responsibilities below, including:
Analytical skills. The most essential soft skill for a cost estimator to carry out their responsibilities is analytical skills. This skill is important for the role because "cost estimators must review and evaluate different construction and manufacturing methods to find cost-effective options." Additionally, a cost estimator resume shows how their duties depend on analytical skills: "prepared cost models for components, sub-assemblies, and bookshelf data for new program evaluation. "
Detail oriented. This is an important skill for cost estimators to perform their duties. For an example of how cost estimator responsibilities depend on this skill, consider that "cost estimators must be precise, because minor changes may greatly affect the overall expense of a project or product." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a cost estimator: "create a cost model in excel for current and new customers detailing the costs of building injection molded tools and products. ".
Math skills. For certain cost estimator responsibilities to be completed, the job requires competence in "math skills." The day-to-day duties of a cost estimator rely on this skill, as "cost estimators need excellent math skills to calculate labor, material, and equipment estimates for construction projects." For example, this snippet was taken directly from a resume about how this skill applies to what cost estimators do: "identified a senior estimator's take-off math error on fireproof discipline during a team effort bid. "
Time-management skills. A commonly-found skill in cost estimator job descriptions, "time-management skills" is essential to what cost estimators do. Cost estimator responsibilities rely on this skill because "cost estimators must plan in advance and work efficiently to meet their deadlines." You can also see how cost estimator duties rely on time-management skills in this resume example: "coordinated demolition, construction, plumbing and painting crews, completing the project on time and under budget. "
The three companies that hire the most cost estimators are:
- ICF53 cost estimators jobs
- O'Connor Construction Management43 cost estimators jobs
- GPAC22 cost estimators jobs
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Compare different cost estimators
Cost estimator vs. Estimating assistant
An estimator project manager is responsible for analyzing cost estimates by gathering cost information from suppliers and other third-party vendors. An estimator project manager must have excellent analytical and critical-thinking skills, especially with measurement accuracy and evaluating important project metrics. Estimator project managers research the general market pricing of materials and labor costs, estimate production times, and follow the project timetable without compromising the quality and the client's specifications. They create estimate reports and risk analyses to discuss with the client and the project team.
While similarities exist, there are also some differences between cost estimators and estimating assistant. For instance, cost estimator responsibilities require skills such as "risk analysis," "project management," "cost analysis," and "powerpoint." Whereas a estimating assistant is skilled in "purchase orders," "subcontractor database," "sub contractors," and "bid bonds." This is part of what separates the two careers.
Estimating assistants tend to make the most money working in the technology industry, where they earn an average salary of $56,112. In contrast, cost estimators make the biggest average salary, $74,597, in the manufacturing industry.The education levels that estimating assistants earn slightly differ from cost estimators. In particular, estimating assistants are 6.4% less likely to graduate with a Master's Degree than a cost estimator. Additionally, they're 0.2% less likely to earn a Doctoral Degree.Cost estimator vs. Estimator/project coordinator
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that cost estimator responsibilities requires skills like "worksheets," "risk analysis," "project management," and "cost analysis." But an estimator/project coordinator might use other skills in their typical duties, such as, "shop drawings," "purchase orders," "sub contractors," and "bid invitations."
Estimator/project coordinators may earn a lower salary than cost estimators, but estimator/project coordinators earn the most pay in the construction industry with an average salary of $57,269. On the other hand, cost estimators receive higher pay in the manufacturing industry, where they earn an average salary of $74,597.estimator/project coordinators earn lower levels of education than cost estimators in general. They're 5.7% less likely to graduate with a Master's Degree and 0.2% less likely to earn a Doctoral Degree.Cost estimator vs. Estimator project manager
The required skills of the two careers differ considerably. For example, cost estimators are more likely to have skills like "worksheets," "risk analysis," "project management," and "powerpoint." But a estimator project manager is more likely to have skills like "sub contractors," "construction management," "shop drawings," and "xactimate."
Estimator project managers earn the best pay in the energy industry, where they command an average salary of $77,488. Cost estimators earn the highest pay from the manufacturing industry, with an average salary of $74,597.estimator project managers typically earn similar educational levels compared to cost estimators. Specifically, they're 4.5% less likely to graduate with a Master's Degree, and 0.1% less likely to earn a Doctoral Degree.Cost estimator vs. Assistant estimator/project manager
Even though a few skill sets overlap between cost estimators and assistant estimator/project managers, there are some differences that are important to note. For one, a cost estimator might have more use for skills like "worksheets," "risk analysis," "powerpoint," and "dod." Meanwhile, some responsibilities of assistant estimator/project managers require skills like "subcontractor bids," "shop drawings," "purchase orders," and "construction management. "
The manufacturing industry tends to pay the highest salaries for assistant estimator/project managers, with average annual pay of $69,857. Comparatively, the highest cost estimator annual salary comes from the manufacturing industry.assistant estimator/project managers reach lower levels of education compared to cost estimators, in general. The difference is that they're 5.6% more likely to earn a Master's Degree, and 0.1% less likely to graduate with a Doctoral Degree.Types of cost estimator
Updated January 8, 2025
