What is a Cost Estimator?
Job 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.
Life As a Cost Estimator: What Do They Do?
- 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.
- Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
- Set up cost monitoring and reporting systems and procedures.
- Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
- Prepare and maintain a directory of suppliers, contractors and subcontractors.
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Qualities of a Cost Estimator
When polled, Cost Estimators say the following skills are most frequently used in their jobs:
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
- Estimator Project Manager
- Construction Job Cost Estimator
- Building Estimator
- Crating and Moving Estimator
- Cost Engineer
Job Outlook for Cost Estimators
In the United States, there were 217,900 jobs for Cost Estimator in 2016. 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. Due to new job openings and attrition, there will be an average of 24,400 job openings in this field each 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.
Cost Estimator Salary
The salary for Cost Estimators ranges between about $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 |
|---|---|
| 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?
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
Cost Estimators work in the following industries:
Related Careers
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
Career changers with experience as a Cost Estimator sometimes find work in one of the following fields:
References:
Image Credit: Mike Moore via public domain
More about our data sources and methodologies.
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