Cost Estimators: Career Overview
Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
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What Tasks Do Cost Estimators Take On?
The core tasks performed by cost estimators include:
- Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
- Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
- Collect historical cost data to estimate costs for current or future products.
- Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
- Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
- Establish and maintain tendering process, and conduct negotiations.
- Prepare estimates for use in selecting vendors or subcontractors.
- Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
Skills and Knowledge
Successful cost estimators rely on a mix of skills and domain knowledge.
Top Skills
The abilities most important for this role, rated on an importance scale of 0 to 5:
Top Knowledge Areas
Types of Cost Estimators Jobs
This career also goes by job titles like:
- Acquisition Cost Estimator
- Analyst
- Building Construction Estimator
- Building Estimator
- Civil Estimator
- Commercial Construction Estimator
- Commercial Estimator
- Commercial Roofing Estimator
Employment and Demand
There are about 161,579 cost estimators working in the United States today. Employment is projected to grow by +12.4% over the projection horizon.
How Much Do Cost Estimators Make?
| Statistic | Value |
|---|---|
| Annual median | $80,966 |
| Hourly median | $38.93 |
| 10th percentile | $56,018 |
| 25th percentile | $68,492 |
| 75th percentile | $93,440 |
| 90th percentile | $105,914 |
Compensation varies based on experience, location, and industry.
Cost Estimators Salary by State
| State | Annual median salary |
|---|---|
| Massachusetts | $102,680 |
| California | $84,610 |
| District of Columbia | $84,410 |
| New York | $82,940 |
| Washington | $82,900 |
| Colorado | $81,990 |
| Maryland | $81,490 |
| New Jersey | $80,880 |
| Nevada | $80,270 |
| Minnesota | $79,950 |
| Illinois | $79,880 |
| Arizona | $79,310 |
| Utah | $79,150 |
| Oregon | $78,970 |
| Vermont | $78,820 |
| Hawaii | $78,630 |
| New Hampshire | $77,720 |
| Connecticut | $77,130 |
| Iowa | $76,290 |
| Michigan | $76,080 |
| Rhode Island | $75,990 |
| Virginia | $75,970 |
| Ohio | $75,450 |
| Delaware | $75,390 |
| Texas | $74,930 |
| Idaho | $74,880 |
| Wyoming | $74,870 |
| Pennsylvania | $74,590 |
| Tennessee | $74,570 |
| Missouri | $73,360 |
| Maine | $73,090 |
| Georgia | $72,850 |
| South Dakota | $72,670 |
| Kansas | $72,600 |
| North Carolina | $72,230 |
| Florida | $71,920 |
| Wisconsin | $71,880 |
| Indiana | $71,590 |
| West Virginia | $70,630 |
| North Dakota | $70,250 |
| Kentucky | $69,490 |
| Nebraska | $69,110 |
| New Mexico | $69,040 |
| Louisiana | $68,500 |
| Montana | $68,360 |
| Alaska | $68,310 |
| Alabama | $68,030 |
| South Carolina | $67,420 |
| Mississippi | $66,410 |
| Oklahoma | $63,790 |
| Arkansas | $62,870 |
| Guam | $61,150 |
| Puerto Rico | $36,960 |
Top-Paying U.S. Regions
Pay for cost estimators vary by region. Top regions by median wage:
| Region | Median annual wage | Share of U.S. jobs | Location quotient |
|---|---|---|---|
| New England | $91,123 | 4.4% | 0.98 |
| Far Western US | $83,398 | 17.9% | 1.09 |
| Middle Atlantic | $79,537 | 13.6% | 0.94 |
| Rocky Mountains | $78,786 | 5.3% | 1.36 |
| Great Lakes | $75,265 | 14.0% | 1.01 |
| Southwest | $74,614 | 13.4% | 1.07 |
| Plains States | $74,544 | 8.6% | 1.31 |
| Southeast | $71,688 | 22.7% | 0.94 |
Where the Jobs Cluster
| Metro area | State | Median annual wage | Employment |
|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH | MA | $104,190 | 3,860 |
| San Francisco-Oakland-Fremont, CA | CA | $103,030 | 3,520 |
| Worcester, MA | MA | $98,550 | 470 |
| San Jose-Sunnyvale-Santa Clara, CA | CA | $97,990 | 1,680 |
| Pittsfield, MA | MA | $97,000 | 110 |
| Chico, CA | CA | $94,200 | 140 |
| Springfield, MA | MA | $93,790 | 290 |
| Burlington-South Burlington, VT | VT | $91,350 | 170 |
Top Industries Employing Cost Estimators
Most cost estimators are found across these industries:
| Industry | Employment | Median annual wage |
|---|---|---|
| Construction | 120,790 | $80,810 |
| Manufacturing | 26,580 | $73,570 |
| Other Services (except Public Administration) | 21,650 | $65,410 |
| Retail Trade | 11,860 | $63,580 |
| Wholesale Trade | 10,320 | $66,320 |
| Administrative and Support and Waste Management and Remediation Services | 9,570 | $70,780 |
| Professional, Scientific, and Technical Services | 9,200 | $87,290 |
| Management of Companies and Enterprises | 3,500 | $76,880 |
The table below shows some of the most common industries where those employed in this career field work.
Software Cost Estimators Use
- Document management software: Adobe Acrobat (hot technology)
- Computer aided design CAD software: Autodesk AutoCAD (hot technology)
- Computer aided design CAD software: Autodesk Revit (hot technology)
- Accounting software: Intuit QuickBooks (hot technology)
- Data base user interface and query software: Microsoft Access (hot technology)
- Spreadsheet software: Microsoft Excel (hot technology)
- Office suite software: Microsoft Office software (hot technology)
- Electronic mail software: Microsoft Outlook (hot technology)
- Presentation software: Microsoft PowerPoint (hot technology)
- Project management software: Microsoft Project (hot technology)
- Process mapping and design software: Microsoft Visio (hot technology)
- Word processing software: Microsoft Word (hot technology)
What the Workplace Is Like
Daily working conditions for cost estimators is shaped by the following characteristics:
- Telephone Conversations
- Spend Time Sitting
- Face-to-Face Discussions with Individuals and Within Teams
- Indoors, Environmentally Controlled
How to Become Cost Estimators
Most cost estimators positions require a bachelor’s degree as the typical entry-level education. This occupation sits in Considerable Preparation Needed (Job Zone 4), signaling the level of preparation typically expected.
Related Careers
Similar Occupations
- Construction Managers (Primary-Short)
- Architectural and Engineering Managers (Primary-Short)
- Purchasing Agents, Except Wholesale, Retail, and Farm Products (Primary-Long)
- Logistics Engineers (Primary-Short)
- Project Management Specialists (Primary-Long)
- Appraisers and Assessors of Real Estate (Supplemental)
- Civil Engineers (Primary-Long)
- Electrical Engineers (Supplemental)
Degree Programs
Future cost estimators commonly pursue programs in:
Engineering
4 programs across 4 majors
Business, Management, Marketing, and Related Support Services
2 programs across 2 majors
Engineering Technologies and Engineering-Related Fields
1 programs across 1 majors
References
Data on this page comes from the following authoritative sources:
- U.S. Bureau of Labor Statistics — Occupational Employment and Wage Statistics (OEWS) for employment and wage data by state and industry.
- BLS Employment Projections for total employment and growth forecasts.
- O*NET (Occupational Information Network) for skills, knowledge, tasks, work activities, work context, technology, and education-zone data.
SOC code: 13-1051.00 (Cost Estimators).
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