Cost estimators
SOC Code: 13-1051Also known as:
Acquisition Cost Estimator, Analyst, Building Construction Estimator, Building Estimator, Civil Estimator
Median Annual Salary
$77,070
-4.2% growth (2024-2034)
17K
Openings/Year
221K
Current Jobs
What Cost estimators 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.
💰 Salary
$77,070
Median annual wage (2024)
📈 Job Growth
-4.2%
Decline
🎓 Education
Bachelor's degree
Typical entry-level requirement
🚀 Annual Openings
17K
Projected average per year
📚 On-the-Job Training
Moderate-term on-the-job training
Expected training period
Employment Projections (2024-2034)
Current Employment (2024)
221,400
Projected Employment (2034)
212,100
Related Careers
Construction managers
$106,980 •
+8.7% growth
Architectural and engineering managers
$167,740 •
+3.8% growth
Logisticians
$80,880 •
+16.7% growth
Industrial engineers
$101,140 •
+11.0% growth
Civil engineering technologists and technicians
$64,200 •
+2.1% growth
Top Skills Required
Reading Comprehension
Mathematics
Speaking
Active Listening
Critical Thinking
Daily Tasks & Responsibilities
- Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
- Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
- Collect historical cost data to estimate costs for current or future products.
- 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.
- Establish and maintain tendering process, and conduct negotiations.
- Prepare estimates for use in selecting vendors or subcontractors.
- Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
- Set up cost monitoring and reporting systems and procedures.
- Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
Technology & Tools
📚 Entry-Level Education
Bachelor's degree
Most common requirement
🎯 Recommended Education
Bachelor's Degree
O*NET recommended level
Degree Programs for Cost estimators
These degree programs can prepare you for a career as a cost estimators:
Business Administration and Management, General
336,590 degrees awarded •
2,332 colleges offer this program
Business/Commerce, General
57,976 degrees awarded •
815 colleges offer this program
Mechanical Engineering
42,939 degrees awarded •
424 colleges offer this program
Construction Engineering Technology/Technician
5,089 degrees awarded •
143 colleges offer this program
Materials Engineering
3,129 degrees awarded •
112 colleges offer this program
Construction Engineering
1,567 degrees awarded •
49 colleges offer this program
Manufacturing Engineering
900 degrees awarded •
67 colleges offer this program
Best Colleges for Becoming a Cost estimators
Ranked by Repit grade, then by degrees in related programs. These are the top-rated colleges that prepare students to become cost estimators.
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Frequently Asked Questions
How much do cost estimators make?
The median annual salary for cost estimators is $77,070.
What education do cost estimators need?
Most cost estimators positions require a bachelor's degree.
Common degree programs include Business Administration and Management, General, Business/Commerce, General, Mechanical Engineering.
Is becoming cost estimators a good career choice?
Cost estimators is projected to see -4.2% job growth from 2024 to 2034,
which reflects some decline in the field. With approximately 16,900 job openings expected annually,
there are good opportunities for those entering the field.
What are the best colleges for cost estimators?
Top colleges for aspiring cost estimators include
University of Michigan-Ann Arbor, University of Florida, Boston University, Georgia Institute of Technology-Main Campus, The University of Texas at Austin.
These schools are ranked based on their Repit grade and the number of graduates in related programs.
What other job titles are similar to cost estimators?
Cost estimators may also be known as: Acquisition Cost Estimator, Analyst, Building Construction Estimator, Building Estimator, Civil Estimator, Commercial Construction Estimator, Commercial Estimator, Commercial Roofing Estimator, Concrete Estimator, Construction Estimator, Construction Job Cost Estimator, Cost Analyst, Cost Consultant, Cost Engineer, Cost Estimating Analyst, Cost Estimator, Cost Recovery Technician (Cost Recovery Tech), Crating and Moving Estimator, Drywall Estimator, Electrical Estimator.
These titles often refer to similar roles with varying responsibilities or specializations.