All About Cost Estimators
Career Description 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.
List of Cost Estimator Job Duties
- Establish and maintain tendering process, and conduct negotiations.
- Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
- Collect historical cost data to estimate costs for current or future products.
- Conduct special studies to develop and establish standard hour and related cost data or to effect cost reduction.
- Visit site and record information about access, drainage and topography, and availability of services such as water and electricity.
- Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
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Skills Needed to be a Cost Estimator
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.
Related Job Titles for this Occupation:
- Project Estimator
- Crating and Moving Estimator
- Procurement Technician
- Production Cost Estimator
- Cost Analyst
What Kind of Cost Estimator Job Opportunities Are There?
In 2016, there was an estimated number of 217,900 jobs in the United States for Cost Estimator. 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. There will be an estimated 24,400 positions for Cost Estimator per year.
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.
Average Cost Estimators Salary
The typical yearly salary for Cost Estimators is somewhere between $38,060 and $107,940.
Cost Estimators who work in District of Columbia, Hawaii, or Alaska, make the highest salaries.
How much do Cost Estimators make in each U.S. state?
| 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 |
Tools & Technologies Used by Cost Estimators
Although they’re not necessarily needed for all jobs, the following technologies are used by many Cost Estimators:
- 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 to Become a Cost Estimator
Education needed to be a Cost Estimator:
What work experience do I need to become a Cost Estimator?
Where Cost Estimators Work
The table below shows some of the most common industries where those employed in this career field work.
Related Careers
Those interested in being a Cost Estimator may also be interested in:
- Tax Preparers
- Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products
- Buyers and Purchasing Agents, Farm Products
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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