In this career summary, you will find out what the job of A Cost Estimator is about and what it is like.
After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.
Cost Estimators 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.
- Consult with clients, vendors, personnel in other departments or construction foremen to discuss and formulate estimates and resolve issues.
- Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
- Prepare estimates for use in selecting vendors or subcontractors.
- Confer with engineers, architects, owners, contractors and subcontractors on changes and adjustments to cost estimates.
$64810 per year
$31.16 an hour
Cost Estimators with little to no experience tend to make between $34720 and $45650 while the more experienced ones make over $79000 per year.
|Top 5 paying states||Hourly||Annual|
1 of the easiest ways to increase your salary as A Cost Estimator is to move to a higher paying state like AK. Right now, the highest paying states for Cost Estimators are AK, DC, CT, NY and NJ.
However a higher pay at AK doesn’t guarantee that you will make more because the living expenses at AK might be 2x higher than where you are currently at now.
3 other factors that can increase your salary as A Cost Estimator is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).
Recommended degree level
We asked other Cost Estimators what degree they had when they got the job and most of them said they had a Bachelors degree followed by Associates degree.
Other than that we also asked them what did they major in and here are the most popular majors that came up.
Another popular question from our readers is what makes A Cost Estimator successful or would they be good in this career.
Well, we found that most successful Cost Estimators have these 5 skillsets.
|Judgment and Decision Making|
In addition to that, 1 common characteristic among successful Cost Estimators is they are good at Attention to Detail. Here are the top 5 common characteristics.
|Attention to Detail |
= Hot in-demand that most employers are looking for
Pros and Cons
Here are some reasons why you should and shouldn’t choose A Cost Estimator as your career.
|Suitable for people who likes to start and carry out projects|
|Suitable for people who values relationships between coworkers and customers and wants to work in a friendly noncompetitive environment|
|This career is perfect for people who love to work indoors.|
|Very good salary|
|Not suitable for people who likes to work with designs|
|It is hard to get into this career. A considerable amount of workrelated skill, knowledge, or experience is required for this career.|
|Long working hours (More than 40 hours per week)|
There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.
A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.
What is the job like
Is this job meaningful
More than 40 hours per week
Regular (Set schedule and routine)
On a normal working week Cost Estimators work More than 40 hours per week.
68% of Cost Estimators said they were satisfied with their job and 44% said they feel like their job is making other people’s lives better.
Is this right for me
Best personality for this career
The Persuaders and The Organizers
You can read more about these career personality types here.
People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.
They also like following set procedures and routines. They like working with data and details more than with ideas.
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They analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
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They purchase machinery, equipment, tools, parts, supplies, or services necessary for the operation of an establishment. Purchase raw or semi-finished materials for manufacturing.
They plan, direct, or coordinate purchasing, warehousing, distribution, forecasting, customer service, or planning services. Manage logistics personnel and logistics systems and direct daily operations.
They research market conditions in local, regional, or national areas, or gather information to determine potential sales of a product or service, or create a marketing campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution.
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