Cost Estimator

Cost estimators collect and analyze data to estimate the time, money, resources, and labor required for product manufacturing, construction projects, or services. Some specialize in a particular industry or product type.

 

Sample of Reported Job Titles

Estimator, Cost Estimator, Estimator Project Manager, Project Manager, Construction Estimator, Cost Analyst, Design Consultant, Operations Manager, Sales Engineer

 

Summary

Cost estimators figure out how much a project or product will cost. This helps business owners and managers decide whether to build a structure or manufacture a product. If a business doesn't think it can make enough money, it will not do it. Cost estimators also find out which jobs are making a profit. The exact method of figuring out the cost varies, depending on the industry in which you work. Cost estimators study information on all of the things that can change the cost of a project. This includes supplies, labor, location, and special equipment, like computer hardware and software.

The following are the two primary types of cost estimators:

Manufacturing cost estimators calculate the costs of developing, producing, or redesigning a company’s goods and services. For example, a cost estimator working for a home appliance manufacturer may determine whether a new type of dishwasher will be profitable to manufacture.

Construction cost estimators estimate construction work. More than half of all cost estimators work in the construction industry. They may, for example, estimate the total cost of building a bridge or a highway. They may identify direct costs, such as raw materials and labor requirements, and set a timeline for the project. Although many work directly for construction firms, some work for contractors, architects, and engineering firms.

 

Educational Requirements

Those interested in estimating manufacturing costs typically need a bachelor's degree in engineering, physical sciences, mathematics, or statistics. Construction cost estimators generally need a bachelor's degree in an industry-related field, such as construction management or building science. Some employers prefer candidates with backgrounds in business-related disciplines, such as accounting, finance, business, or economics.

 

Median Salary 2012

$58,860

 

Want to know more?

O*NET-Cost Estimators

Bureau of Labor Statistics-Cost Estimator

U.S. News-Cost Estimator

 

Get Connected

Belonging to professional organizations & LinkedIn groups can provide you with networking, informational interviewing, & job shadowing opportunities, as well as assist you with finding internships and jobs.

Association for the Advancement of Cost Estimating International

American Society of Professional Estimators

International Cost Estimating and Analysis Association

List of Professional Organizations

The Career Connector for Purdue College of Science Students & Alumni

 

Get Experience

Research & Internship Listings

 

Find a Job

Job Search Sites Related to Your Major

 

Information retrieved from http://www.bls.gov/ooh/business-and-financial/cost-estimators.htm#tab-8

Purdue University College of Science, 150 N. University St, West Lafayette, IN 47907 • Phone: (765) 494-1729, Fax: (765) 494-1736

Student Advising Office: (765) 494-1771, Fax: (765) 496-3015 • Science IT, (765) 494-4488

© 2015 Purdue University | An equal access/equal opportunity university | Copyright Complaints

Trouble with this page? Disability-related accessibility issue? Please contact the College of Science Webmaster.