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.
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.
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|
|District of Columbia||$93,880|
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
- 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?
How many years of work experience do I need?
Who Employs Cost Estimators?
Cost Estimators work in the following industries:
Those thinking about becoming a Cost Estimator might also be interested in the following careers:
- 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:
More about our data sources and methodologies.