Cost Estimator

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  Business and Financial Operations Occupations

Cost Estimator

Also Called: Acquisition Cost Estimator, Analyst, Construction Estimator, Cost Analyst, Cost Consultant, Cost Engineer, Cost Estimating Analyst, Cost Estimator, Estimating Specialist, Estimator, Acquisition Cost Estimator, Analyst, Construction Estimator, Cost Analyst, Cost Consultant, Cost Engineer, Cost Estimating Analyst, Cost Estimator, Estimating Specialist, Estimator

What they do

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.

$44,820
Starting Salary (2023)
$74,740
Median Salary (2023)
-2.8%
Projected Job Growth
220,970
Employment (2022)

Typical Tasks

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.
Conduct special studies to develop and establish standard hour and related cost data or to reduce cost.
Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.

A day in the life

What kind of work is this?

Conventional
Organized, Procedural Work
Enterprising
Business based Work
Investigative
Studying, Research based work

What personality traits do you need to succeed?

Attention to Detail
Integrity
Analytical Thinking
Dependability
Cooperation
Persistence

What key skills are needed for this job?

Mathematics
Reading Comprehension
Speaking
Active Listening
Critical Thinking
Judgment and Decision Making

Expected Knowledge

Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Common Activities

Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
Analyzing Data or Information
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

More Info

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