Find Your Dream Job
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
2034 Projected Employment
212,100
-4% Change From 2024
Explore Cost Estimators video
Tasks you might complete in a day.
- Visit site and record information about access, drainage and topography, and availability of utility services.
- Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
- Establish and maintain tendering process, and conduct negotiations.
- 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.
- 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.
- Set up cost monitoring and reporting systems and procedures.
- 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.
- Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
- Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
- Collect historical cost data to estimate costs for current or future products.
- Prepare and maintain a directory of suppliers, contractors and subcontractors.
- Prepare estimates for use in selecting vendors or subcontractors.
- Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
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.
- 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.
- Biology - Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
- Production and Processing - Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
- Food Production - Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
- 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.
- Fine Arts - Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- 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.
- Mechanical - Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
- 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.
- 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.
- 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.
- 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.
- 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.
- Design - Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
- 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.
- Transportation - Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- History and Archeology - Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
- 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.
- 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.
Strengths you may need in this role.
- Operation and Control - Using equipment or systems.
- Technology Design - Making equipment and technology useful for customers.
- Operations Monitoring - Watching gauges, dials, or display screens to make sure a machine is working.
- Persuasion - Talking people into changing their minds or their behavior.
- Active Listening - Listening to others, not interrupting, and asking good questions.
- Science - Using scientific rules and strategies to solve problems.
- Quality Control Analysis - Testing how well a product or service works.
- Programming - Writing computer programs.
- Learning Strategies - Using the best training or teaching strategies for learning new things.
- Time Management - Managing your time and the time of other people.
- Service Orientation - Looking for ways to help people.
- Operations Analysis - Figuring out what a product or service needs to be able to do.
- Instructing - Teaching people how to do something.
- Installation - Installing equipment, machines, wiring, or computer programs.
- Writing - Writing things for co-workers or customers.
- Management of Financial Resources - Making spending decisions and keeping track of what is spent.
- Systems Evaluation - Measuring how well a system is working and how to improve it.
- 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.
- Social Perceptiveness - Understanding people's reactions.
- Equipment Selection - Deciding what kind of tools and equipment are needed to do a job.
- Complex Problem Solving - Noticing a problem and figuring out the best way to solve it.
- Reading Comprehension - Reading work-related information.
- Speaking - Talking to others.
- 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.
- Management of Personnel Resources - Selecting and managing the best workers for a job.
- Repairing - Repairing machines or systems using the right tools.
- Management of Material Resources - Managing equipment and materials.
- Troubleshooting - Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
- Coordination - Changing what is done based on other people's actions.
- Negotiation - Bringing people together to solve differences.
- Mathematics - Using math to solve problems.
- Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
- Active Learning - Figuring out how to use new ideas or things.
- Response Orientation - Quickly deciding if you should move your hand, foot, or other body part.
- Perceptual Speed - Quickly comparing groups of letters, numbers, pictures, or other things.
- Explosive Strength - Jumping, sprinting, or throwing something.
- Oral Expression - Communicating by speaking.
- Oral Comprehension - Listening and understanding what people say.
- 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.
- Rate Control - Changing when and how fast you move based on how something else is moving.
- Stamina - Exercising for a long time without getting out of breath.
- Speed of Limb Movement - Quickly moving your arms and legs.
- Time Sharing - Doing two or more things at the same time.
- Extent Flexibility - Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
- Arm-Hand Steadiness - Keeping your arm or hand steady.
- Finger Dexterity - Putting together small parts with your fingers.
- Gross Body Equilibrium - Keeping your balance or staying upright.
- Written Comprehension - Reading and understanding what is written.
- Mathematical Reasoning - Choosing the right type of math to solve a problem.
- Problem Sensitivity - Noticing when problems happen.
- Speed of Closure - Quickly knowing what you are looking at.
- Speech Recognition - Recognizing spoken words.
- Spatial Orientation - Knowing where things are around you.
- Information Ordering - Ordering or arranging things.
- Fluency of Ideas - Coming up with lots of ideas.
- Far Vision - Seeing details that are far away.
- Sound Localization - Noticing the direction that a sound came from.
- Originality - Creating new and original ideas.
- Visual Color Discrimination - Noticing the difference between colors, including shades and brightness.
- Selective Attention - Paying attention to something without being distracted.
- Gross Body Coordination - Moving your arms, legs, and mid-section together while your whole body is moving.
- Reaction Time - Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
- Wrist-Finger Speed - Making fast, simple, repeated movements of your fingers, hands, and wrists.
- Static Strength - Lifting, pushing, pulling, or carrying.
- Control Precision - Quickly changing the controls of a machine, car, truck or boat.
- Peripheral Vision - Seeing something to your side when your are looking ahead.
- Number Facility - Adding, subtracting, multiplying, or dividing.
- Speech Clarity - Speaking clearly.
- Written Expression - Communicating by writing.
- Auditory Attention - Paying attention to one sound while there are other distracting sounds.
- Memorization - Remembering words, numbers, pictures, or steps.
- Inductive Reasoning - Making general rules or coming up with answers from lots of detailed information.
- Deductive Reasoning - Using rules to solve problems.
- Near Vision - Seeing details up close.
- Visualization - Imagining how something will look after it is moved around or changed.
- Trunk Strength - Using your lower back and stomach.
- 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.
- Category Flexibility - Grouping things in different ways.
- Hearing Sensitivity - Telling the difference between sounds.
- Night Vision - Seeing at night or under low light.
- Flexibility of Closure - Seeing hidden patterns.
- 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.
Average Education Attained
Highest level of education earned by people in this career.
Career Coaching
Need a guide to help you on your career journey or to prepare for your next interview?
You May Also Be Interested In
Civil Engineering Technologists and Technicians
Construction Managers
Industrial Engineers
Logistics Engineers
Architectural and Engineering Managers
Civil Engineers
Production, Planning, and Expediting Clerks
Architectural and Civil Drafters
Purchasing Agents, Except Wholesale, Retail, and Farm Products
Content sourced from United States Department of Labor Employment and Training Administration ("DOLETA") and the Minnesota Department of Employment & Economic Development ("DEED")