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This bar graph shows the annual salary for Cost Estimators.
Data sourced from O*NET Online, provided by the BLS Occupational Employment and Wage Statistics wage estimates.
This line chart shows the projected job growth over 10 years for Cost Estimators.
Projected Growth Rate in Job Openings by 2031: -2%
Data sourced from CareerOneStop, provided by the U.S. Department of Labor.
Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
Collect historical cost data to estimate costs for current or future products.
Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
If you're aiming to launch a career as a cost estimator, you've chosen a path that combines analytical skills with an understanding of the financial elements of manufacturing, construction, or services. This section will guide you through the steps to become a proficient cost estimator.
First and foremost, you need to have a clear understanding of what a cost estimator does. In essence, cost estimators are responsible for:
Most employers prefer candidates who have at least a bachelor's degree. Relevant fields of study include:
For those looking at specific industries like construction or manufacturing, degrees that focus on those sectors are highly beneficial.
Hands-on experience is invaluable. Consider the following ways to gain experience:
Cost estimators must be adept at using various software and technologies. Essential skills include:
While not always required, certification can enhance your job prospects. Recognized certifications include:
Continuing education is crucial for staying current in this field. Engage in:
Building relationships with professionals in your field can lead to job opportunities and career growth. Networking strategies include:
By following these steps, you can establish a solid foundation for a successful career as a cost estimator. Remember to continually adapt to industry changes and advancements in technology to stay competitive in this field.
A cost estimator is a professional responsible for predicting the expense of a project or product. Their analysis includes everything from material costs, labor, location, duration, and any other factors that impact the overall budget.
To pursue a career as a cost estimator:
Key skills include:
Certification is not mandatory but can be advantageous. It demonstrates commitment and expertise to employers and clients. Certifications like the Certified Cost Professional (CCP) or Certified Estimating Professional (CEP) can be pursued through AACE International.
Cost estimators work across various sectors, such as:
Yes, many cost estimators work as freelancers or consultants. This allows them to work on multiple projects across different industries, often leading to a diverse and flexible career path.
According to the U.S. Bureau of Labor Statistics, employment of cost estimators is projected to grow 1 percent from 2019 to 2029, which is slower than the average for all occupations.
Career progression may include:
Remember, your career path can vary based on your individual skills, experiences, and the opportunities you pursue. Stay informed and adaptable to navigate the field successfully.