Cost Estimators

Overview

Cost Estimators has a national median salary of $78,740 per year, with -3.1% projected job growth from 2025–2035. The Bureau of Labor Statistics lists a bachelor's degree as the typical education needed to enter this occupation.

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.

Work Values

• Independence
• Relationships
• Working Conditions

Work Styles

Responsibilities

Tasks

• Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
• Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
• 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.
• Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.

Work Activities

• Getting Information
• Analyzing Data or Information
• Working with Computers
• Estimating the Quantifiable Characteristics of Products, Events, or Information
• Making Decisions and Solving Problems
• Communicating with Supervisors, Peers, or Subordinates
• Updating and Using Relevant Knowledge
• Processing Information
• Establishing and Maintaining Interpersonal Relationships
• Identifying Objects, Actions, and Events

Detailed Work Activities

• Observing, receiving, and otherwise obtaining information from all relevant sources.
• Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
• Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
• Analyzing information and evaluating results to choose the best solution and solve problems.
• Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
• Keeping up-to-date technically and applying new knowledge to your job.
• Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
• Developing constructive and cooperative working relationships with others, and maintaining them over time.
• Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

T-A-S-K

Technology, Abilities, Skills & Knowledge

Education

Education Levels of Current Workers

The Bureau of Labor Statistics lists a bachelor's degree as the typical education needed to enter this occupation. The chart below shows the highest level of education held by people already working in this field, ages 25 and older. It includes workers who earned more education than the job requires and workers who entered the field under earlier requirements, so the largest bar is not the entry requirement. For example, if someone finished a master's degree and then started working in this field, they are counted under “Master's degree” here, but the job itself typically asks for a bachelor's degree.

Certificates

Certifications applicable to Cost Estimators:

Video Resources