What Do Cost Estimator Do?
Career 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.
What Do Cost Estimators Do On a Daily Basis?
- Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
- Collect historical cost data to estimate costs for current or future products.
- Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
- Visit site and record information about access, drainage and topography, and availability of services such as water and electricity.
- Conduct special studies to develop and establish standard hour and related cost data or to effect cost reduction.
- Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
Cost Estimator Skills
Cost Estimators state the following job skills are important in their day-to-day work.
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
- Project Estimator
- Mechanical Estimator
- Construction Estimator
- Cost Analyst
- Electrical Estimator
Job Opportunities for Cost Estimators
There were about 217,900 jobs for Cost Estimator in 2016 (in the United States). 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. The BLS estimates 24,400 yearly job openings in this field.
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 Average 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.
How much do Cost Estimators make in different U.S. states?
|State||Annual Mean Salary|
|District of Columbia||$93,880|
Tools & Technologies Used by Cost Estimators
Below is a list of the types of tools and technologies that Cost Estimators may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Access
- 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 do I Become a Cost Estimator?
Individuals working as a Cost Estimator have obtained the following education levels:
How many years of work experience do I need?
Where Cost Estimators Work
Below are examples of industries where Cost Estimators work:
Other Jobs You May be Interested In
Those interested in being a Cost Estimator may also be interested in:
- 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:
More about our data sources and methodologies.
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