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.
- Collect historical cost data to estimate costs for current or future products.
- Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
- Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
- Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
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Cost Estimators with little to no experience tend to make between $38060 and $49850 while the more experienced ones can earn over $84000 per year.
|Top 5 paying states||Hourly||Annual|
One of the easiest ways to increase your salary as a Cost Estimator is to move to a higher paying state like DC. Right now, the highest paying states for Cost Estimators are DC, AK, HI, CA and MA.
However, a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be twice as high than where you are currently at now.
Three 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.
We asked other Cost Estimators what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a Master’s Degree.
Other than that, we also asked them what did they major in and here are the most popular majors that came up.
|Construction Engineering Technology/Technician|
Pros and Cons
Here are some of the pros and cons of being a Cost Estimator.
|Suitable for people who likes to start and carry out projects|
|Suitable for people who values relationships between co-workers and customers and wants to work in a friendly non-competitive 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 work-related skill, knowledge, or experience is required for this career.|
|Long working hours (More than 40 hours per week)|
What is the job like
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
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.
conduct organizational studies and evaluations, design systems and procedures, conduct work simplification and measurement studies, and prepare operations and procedures manuals to assist management in operating more efficiently and effectively. Includes program analysts and management consultants.
determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
direct activities such as autopsies, pathological and toxicological analyses, and inquests relating to the investigation of deaths occurring within a legal jurisdiction to determine cause of death or to fix responsibility for accidental, violent, or unexplained deaths.
investigate or inspect government property to ensure compliance with contract agreements and government regulations.
investigate, analyze, and determine the extent of insurance company's liability concerning personal, casualty, or property loss or damages, and attempt to effect settlement with claimants. Correspond with or interview medical specialists, agents, witnesses, or claimants to compile information. Calculate benefit payments and approve payment of claims within a certain monetary limit.
Related career information
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