Cost Estimators: Salary, Job Description, How To Be One and More

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Cost Estimators jobs information
pros and cons of being a Cost Estimator

Cost Estimators

Other names for this job might include Building Construction Estimator, Building Estimator, Construction Estimator, Construction Job Cost Estimator, Contract Analyst, Cost Analyst, Cost Estimator, Cost Recovery/Investment Recovery Technician, Crating and Moving Estimator, Design Consultant


  • $64810
    Salary
  • 68%
    Job satisfaction
  • Quite Hard
    Becoming one
  • High
    Job growth
OwlGuru Rank

B+



Cost Estimators: Know It All In 1 Minute


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.



Job description

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.

Read more about what does A Cost Estimator really do at work and what is it like being and working as one.


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Salary

Average salary
$64810 per year

Hourly wage
$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 statesHourlyAnnual
AK$42.49$88380
DC$38.12$79290
CT$36.5$75930
NY$36.15$75180
NJ$35.65$74150

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).

Find out how much do successful Cost Estimators make and if their salary is high when compared to all the other careers.


Requirements

Recommended degree level
Bachelor’s Degree

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.

Materials Engineering
Mechanical Engineering
Construction Engineering
Manufacturing Engineering
Construction Engineering Technology/Technician

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.

Mathematics
Speaking
Critical Thinking
Active Listening
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
Dependability
Analytical Thinking
Integrity
Stress Tolerance
= Hot in-demand that most employers are looking for

Read more about what it really takes to become A Cost Estimator and the degree, training and education you need


Pros and Cons

Here are some reasons why you should and shouldn’t choose A Cost Estimator as your career.

PROS
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
CONS
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

Job satisfaction
68%

Is this job meaningful
44%


Working hours
More than 40 hours per week

Working schedule
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 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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Job Description
Salary
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Related to Cost Estimators Career Information

Cost Estimators job description, Cost Estimators salary, Cost Estimators information, what is the job of a Cost Estimator like, pros and cons about Cost Estimators, colleges and universities for Cost Estimators, is Cost Estimators the right career for me, Quite Hard careers to get into, careers in Business and Finance

Additional resources

http://www.bls.gov/OOH/business-and-financial/cost-estimators.htm
http://www.aacei.org/
http://www.aspenational.org/
http://www.iceaaonline.com/

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Cost Estimators
Written by: Stanley Tan
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.
4.5 / 5 stars

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