COST ESTIMATORS predict the cost of future projects. They develop cost information for owners or managers to use in making bids for contracts, to determine if a new product will be profitable, or determine which products are making a profit for the firm. Cost estimators calculate the cost of labor and materials needed to perform services or produce goods. Computers are widely used by cost estimators because cost estimating often involves complex mathematical calculations and requires advanced mathematical techniques.
Salary, Size & Growth
- $59,500 average per year ($28.50 per hour)
- A large occupation (183,800 workers in 2010)
- Expected to grow rapidly (2.5% per year)
Job entry requirements for COST ESTIMATORS vary by industry. Many colleges and universities include cost estimating as part of a bachelor's and associate degree curriculums in civil engineering, industrial engineering, and construction management or construction engineering technology. Cost estimating is also a significant part of many master's degree programs in construction science or construction management. Technical schools, junior colleges, and universities offer courses and programs in cost estimating techniques and procedures.