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Cost Estimator

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What Do Cost Estimator Do?

Cost Estimator Example 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.

Life As a Cost Estimator

  • Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
  • Visit site and record information about access, drainage and topography, and availability of services such as water and electricity.
  • Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
  • Conduct special studies to develop and establish standard hour and related cost data or to effect cost reduction.
  • Set up cost monitoring and reporting systems and procedures.
  • Prepare and maintain a directory of suppliers, contractors and subcontractors.

Cost Estimator Skills

These are the skills Cost Estimators say are the most useful in their careers:

Mathematics: Using mathematics to solve problems.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking: Talking to others to convey information effectively.

Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Other Cost Estimator Job Titles

  • Mechanical Estimator
  • Electrical Estimator
  • Job Cost Estimator
  • Cost Estimator
  • Construction Estimator

Is There Going to be Demand for Cost Estimators?

There were about 217,900 jobs for Cost Estimator in 2016 (in the United States). New jobs are being produced at a rate of 10.5% which is above the national average. The Bureau of Labor Statistics predicts 22,900 new jobs for Cost Estimator by 2026. The BLS estimates 24,400 yearly job openings in this field.

Forecasted Number of Jobs for Cost Estimators in U.S.

The states with the most job growth for Cost Estimator are Utah, Arizona, and Nevada. Watch out if you plan on working in Maine, Vermont, or Alaska. These states have the worst job growth for this type of profession.

Cost Estimator Average Salary

Cost Estimators make between $38,060 and $107,940 a year.

Salary Ranges for Cost Estimators

Cost Estimators who work in District of Columbia, Hawaii, or Alaska, make the highest salaries.

Below is a list of the median annual salaries for Cost Estimators in different U.S. states.

State Annual Mean Salary
Alabama $59,870
Alaska $83,450
Arizona $66,410
Arkansas $61,500
California $78,190
Colorado $73,110
Connecticut $74,910
Delaware $68,690
District of Columbia $93,880
Florida $62,370
Georgia $67,190
Hawaii $82,390
Idaho $60,400
Illinois $66,480
Indiana $65,790
Iowa $62,410
Kansas $66,500
Kentucky $65,460
Louisiana $67,650
Maine $61,960
Maryland $71,650
Massachusetts $77,670
Michigan $63,810
Minnesota $65,520
Mississippi $60,360
Missouri $67,620
Montana $58,960
Nebraska $59,160
Nevada $66,650
New Hampshire $67,610
New Jersey $75,340
New Mexico $59,580
New York $75,730
North Carolina $62,590
North Dakota $69,010
Ohio $64,700
Oklahoma $64,300
Oregon $71,490
Pennsylvania $67,330
Rhode Island $67,470
South Carolina $63,520
South Dakota $54,860
Tennessee $63,770
Texas $73,950
Utah $65,940
Vermont $65,790
Virginia $74,160
Washington $77,510
West Virginia $63,890
Wisconsin $57,990
Wyoming $76,670

What Tools do Cost Estimators Use?

Below is a list of the types of tools and technologies that Cost Estimators may use on a daily basis:

  • Microsoft Excel
  • Microsoft Word
  • Microsoft Office
  • Microsoft PowerPoint
  • Microsoft Outlook
  • Microsoft Access
  • SAP
  • Microsoft Project
  • Autodesk AutoCAD
  • Adobe Systems Adobe Acrobat
  • Microsoft Visio
  • Microsoft Dynamics
  • Intuit QuickBooks
  • Oracle JD Edwards EnterpriseOne
  • Dassault Systemes CATIA
  • Oracle Primavera Enterprise Project Portfolio Management
  • Oracle Hyperion
  • Sage 50 Accounting
  • Autodesk Revit
  • Trimble SketchUp Pro

How do I Become a Cost Estimator?

What education or degrees do I need to become a Cost Estimator?

Cost Estimator Degree Level

How many years of work experience do I need?

Cost Estimator Work Experience

Who Employs Cost Estimators?

Cost Estimator Sectors

Cost Estimators work in the following industries:

Cost Estimator Industries

Those thinking about becoming a Cost Estimator might also be interested in the following careers:

Those who work as a Cost Estimator sometimes switch careers to one of these choices:

References:

Image Credit: Mike Moore via public domain

More about our data sources and methodologies.

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