Cost Estimators: Salary, Job Description, How To Become One, and Quiz

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

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.

$69710
Salary
68%
Job Satisfaction
Hard
Becoming One
High
Job Growth
Suitable Personality

Cost Estimators

Salary, Job Description, How To Become One, and More


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.


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




    Become one

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    Salary

    Average salary
    $69710 per year

    Average hourly wage
    $34 per hour


    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 statesHourlyAnnual
    DC$45$93,880
    AK$40$83,450
    HI$40$82,390
    CA$38$78,190
    MA$37$77,670

    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.



    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 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.

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

    Read more about how to become a Cost Estimator and the degree, training and education you need.



    Pros and Cons

    Here are some of the pros and cons of being a Cost Estimator.

    PROS
    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
    CONS
    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

    Job satisfaction
    68%

    Is this job meaningful
    44%


    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 Entrepreneurs 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.



    How we can help

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