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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.
Also Known As:
Acquisition Cost Estimator
Analyst
Construction Estimator
Cost Analyst
Cost Consultant
Cost Engineer
Cost Estimating Analyst
Cost Estimator
Estimating Specialist
Estimator
Wages
Annual wages for Cost Estimators in United States
Job Outlook
Below Average
New job opportunities are less likely in the future
United States
2033 Projected Employment
219,600
-4% Change From 2023
Explore Cost Estimators video
Tasks you might complete in a day.
- Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
- Conduct special studies to develop and establish standard hour and related cost data or to reduce cost.
- Establish and maintain tendering process, and conduct negotiations.
- Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
- Establish and maintain tendering process, and conduct negotiations.
- Visit site and record information about access, drainage and topography, and availability of utility services.
- Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
- Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
- Conduct special studies to develop and establish standard hour and related cost data or to reduce cost.
- Visit site and record information about access, drainage and topography, and availability of utility services.
- Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
- Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
- Set up cost monitoring and reporting systems and procedures.
- Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
- Prepare estimates for use in selecting vendors or subcontractors.
- Collect historical cost data to estimate costs for current or future products.
- Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
- Prepare and maintain a directory of suppliers, contractors and subcontractors.
Subject areas you may need to master.
- Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
- Biology - Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
- Physics - Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.
- Production and Processing - Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
- Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Food Production - Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
- Fine Arts - Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
- Design - Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
- Mechanical - Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
- Administrative - Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
- Chemistry - Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.
- Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
- Transportation - Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
- Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, and rules of composition and grammar.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
- Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
- Public Safety and Security - Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
- Telecommunications - Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.
- Medicine and Dentistry - Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
- Therapy and Counseling - Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.
- Philosophy and Theology - Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.
- Sociology and Anthropology - Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Foreign Language - Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Geography - Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.
- History and Archeology - Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
Strengths you may need in this role.
- Persuasion - Talking people into changing their minds or their behavior.
- Technology Design - Making equipment and technology useful for customers.
- Active Listening - Listening to others, not interrupting, and asking good questions.
- Learning Strategies - Using the best training or teaching strategies for learning new things.
- Operation and Control - Using equipment or systems.
- Programming - Writing computer programs.
- Operations Monitoring - Watching gauges, dials, or display screens to make sure a machine is working.
- Science - Using scientific rules and strategies to solve problems.
- Time Management - Managing your time and the time of other people.
- Quality Control Analysis - Testing how well a product or service works.
- Speaking - Talking to others.
- Management of Financial Resources - Making spending decisions and keeping track of what is spent.
- Complex Problem Solving - Noticing a problem and figuring out the best way to solve it.
- Social Perceptiveness - Understanding people's reactions.
- Operations Analysis - Figuring out what a product or service needs to be able to do.
- Instructing - Teaching people how to do something.
- Equipment Selection - Deciding what kind of tools and equipment are needed to do a job.
- Reading Comprehension - Reading work-related information.
- Writing - Writing things for co-workers or customers.
- Monitoring - Keeping track of how well people and/or groups are doing in order to make improvements.
- Judgment and Decision Making - Thinking about the pros and cons of different options and picking the best one.
- Systems Analysis - Figuring out how a system should work and how changes in the future will affect it.
- Equipment Maintenance - Planning and doing the basic maintenance on equipment.
- Systems Evaluation - Measuring how well a system is working and how to improve it.
- Service Orientation - Looking for ways to help people.
- Installation - Installing equipment, machines, wiring, or computer programs.
- Coordination - Changing what is done based on other people's actions.
- Active Learning - Figuring out how to use new ideas or things.
- Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
- Management of Personnel Resources - Selecting and managing the best workers for a job.
- Negotiation - Bringing people together to solve differences.
- Mathematics - Using math to solve problems.
- Management of Material Resources - Managing equipment and materials.
- Troubleshooting - Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
- Repairing - Repairing machines or systems using the right tools.
- Mathematical Reasoning - Choosing the right type of math to solve a problem.
- Problem Sensitivity - Noticing when problems happen.
- Glare Sensitivity - Seeing something even if there is a glare or very bright light.
- Depth Perception - Deciding which thing is closer or farther away from you, or deciding how far away it is from you.
- Speed of Closure - Quickly knowing what you are looking at.
- Time Sharing - Doing two or more things at the same time.
- Rate Control - Changing when and how fast you move based on how something else is moving.
- Explosive Strength - Jumping, sprinting, or throwing something.
- Gross Body Equilibrium - Keeping your balance or staying upright.
- Response Orientation - Quickly deciding if you should move your hand, foot, or other body part.
- Oral Expression - Communicating by speaking.
- Oral Comprehension - Listening and understanding what people say.
- Written Comprehension - Reading and understanding what is written.
- Speech Recognition - Recognizing spoken words.
- Arm-Hand Steadiness - Keeping your arm or hand steady.
- Stamina - Exercising for a long time without getting out of breath.
- Extent Flexibility - Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
- Perceptual Speed - Quickly comparing groups of letters, numbers, pictures, or other things.
- Finger Dexterity - Putting together small parts with your fingers.
- Speed of Limb Movement - Quickly moving your arms and legs.
- Spatial Orientation - Knowing where things are around you.
- Far Vision - Seeing details that are far away.
- Written Expression - Communicating by writing.
- Inductive Reasoning - Making general rules or coming up with answers from lots of detailed information.
- Visual Color Discrimination - Noticing the difference between colors, including shades and brightness.
- Auditory Attention - Paying attention to one sound while there are other distracting sounds.
- Number Facility - Adding, subtracting, multiplying, or dividing.
- Reaction Time - Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
- Selective Attention - Paying attention to something without being distracted.
- Originality - Creating new and original ideas.
- Peripheral Vision - Seeing something to your side when your are looking ahead.
- Speech Clarity - Speaking clearly.
- Fluency of Ideas - Coming up with lots of ideas.
- Information Ordering - Ordering or arranging things.
- Sound Localization - Noticing the direction that a sound came from.
- Memorization - Remembering words, numbers, pictures, or steps.
- Wrist-Finger Speed - Making fast, simple, repeated movements of your fingers, hands, and wrists.
- Control Precision - Quickly changing the controls of a machine, car, truck or boat.
- Static Strength - Lifting, pushing, pulling, or carrying.
- Gross Body Coordination - Moving your arms, legs, and mid-section together while your whole body is moving.
- Category Flexibility - Grouping things in different ways.
- Night Vision - Seeing at night or under low light.
- Deductive Reasoning - Using rules to solve problems.
- Hearing Sensitivity - Telling the difference between sounds.
- Near Vision - Seeing details up close.
- Flexibility of Closure - Seeing hidden patterns.
- Trunk Strength - Using your lower back and stomach.
- Visualization - Imagining how something will look after it is moved around or changed.
- Multilimb Coordination - Using your arms and/or legs together while sitting, standing, or lying down.
- Dynamic Strength - Exercising for a long time without your muscles getting tired.
- Manual Dexterity - Holding or moving items with your hands.
- Dynamic Flexibility - Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.
Average Education Attained
Highest level of education earned by people in this career.
S
Psychiatric - Mental Health Physician
Salient Health Services, Inc
Alexander City,
AL,
United States
A
Sr. Data Center Structural Engineer, AWS DC Design...
Amazon Data Services
Seattle,
WA,
United States
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Content sourced from United States Department of Labor Employment and Training Administration ("DOLETA") and the Minnesota Department of Employment & Economic Development ("DEED")