Cost Estimator: Job Description, Salary, Duties & More (2024)

The Ultimate Resource For Cost Estimator Career Path

According to US News’ list of Best Business Jobs, cost estimator comes in 22^nd place.

It is an important job that offers a relatively high salary.

Not to mention you can work in various industries of your choice.

If you’re contemplating becoming a cost estimator, you’ve come to the right place.

Here is a comprehensive resource guide to help you make an informed decision.

Cost Estimator Job Information

Official Job Title	Cost Estimator
Average Salary	$71,541
Stress Level	Above Average
Work/Life	Low
Job Satisfaction	High
Career Advancement	Average

Job Description

Here is everything you need to know about the job details of cost estimators:

What Is A Cost Estimator?

A cost estimator is an expert responsible for analyzing and collecting vital data.

They use this to estimate the time, money, and workforce necessary to complete a project.

Their job is to provide accurate estimations so a project finishes on time.

What Does A Cost Estimator Do On A Daily Basis?

Cost estimators analyze documents and blueprints daily to prepare suitable estimates.

Most of the day, they converse with other people on the phone.

These include clients, company personnel, vendors, and much more.

They assess whether a product or project development is cost-effective or not.

That is why they spend a lot of time doing math calculations.

After all, they have to ensure that a project.

Besides that, for construction projects, they have to make site visits frequently.

Responsibilities, Duties, & Roles Of A Cost Estimator

A cost estimator has great responsibilities in a company.

They have to collect data about materials using different ways.

After that, they have to organize everything accordingly and create a proposal.

Using spreadsheets, they have to calculate project, product, or service estimates.

Hence, they play an integral role in a company’s success.

Additionally, they must keep up with other teams for any new development.

Cost Estimator Salary

Below are the salaries of cost estimators in the US, depending on their career levels:

Average Salary

The average salary of cost estimators per year is $71,541.

Of course, this also depends on the average weekly work hours.

Besides that, the salary of cost estimators varies according to location.

For example, Seattle has a higher average figure.

Moreover, cost estimators have a higher demand in California.

Starting Salary

The entry-level salary of a cost estimator is about $47,000.

This amount can vary depending on the years of experience of the applicant.

Additionally, it increases as the career level improves.

Senior Salary

The salary of senior positions for this career path is $87,837.

Only the top 10% of cost estimators earn this in the US.

How To Become A Cost Estimator

Are you thinking about becoming a cost estimator? If so, here are all the details you need to know:

The Entry Level: Certification, Training, & Degree

Unlike other jobs, to become a cost estimator, there isn’t a specific degree.

However, many employers prefer individuals with bachelor’s degrees.

Thus, completing your education can give you an edge over other applicants.

To enter the construction sector, you will need a construction management degree.

Similarly, you should choose a relevant field per the industry you want to join.

Besides that, you will have to complete job training.

Most employers set a few months for training.

However, for some businesses, this can last for a few years.

Additionally, no certification is necessary to land the job.

Other Skill Sets, Requirements & Qualifications

To become a successful cost estimator, you must have strong mathematic skills.

It is a prerequisite for landing an entry-level and a senior position.

In addition, you need to have great analytical skills.

Besides that, cost estimators spend most of their day conversing with others.

That is why you must have excellent listening and speaking skills.

Lastly, a few years of experience is necessary to qualify for the job.

How Long Does It Take To Become A Cost Estimator?

If you’re going to get a degree, it will take four years to complete your education.

Is It Hard To Become A Cost Estimator?

Becoming a cost estimator requires strong math and thinking skills.

As long as you have these skills, becoming an estimator will be a breeze.

Career Paths

If you’re not sure this career path suits you, worry no more.

Here is everything you need to know:

The Cost Estimator Roadmap

There are two roadmaps for becoming a cost estimator.

The first route involves skipping the degree.

Instead, you can opt for training programs and certifications.

Meanwhile, the second route involves getting a bachelor’s degree.

This will take about four years.

During this period, it’s best to join internships in positions relevant to estimator jobs.

Additionally, work experience is necessary for the first route too.

After gaining relevant experience, you can apply for entry-level jobs.

First, you will have to complete training.

Then you will have to work hard to rise in the company.

Projections For Growth In Cost Estimator Jobs

The job growth projection for cost estimators in the US is -2% through 2031, meaning the field will decline.

Additionally, career advancement is average for cost estimators.

In Summary: Is Cost Estimator A Good Career?

A cost estimator is a promising career if you have the skills and passion.

But keep in mind that you will have to work a lot before rising to a higher level.

Working Conditions

Below you can find details about the typical working conditions of a cost estimator:

Can A Cost Estimator Work Remotely From Home?

Cost estimators can work remotely if the employer allows it.

However, this is not applicable in most cases.

Typically, they have to work from the company office or headquarters.

Besides that, many cost estimators have to visit project sites and factories.

Of course, this depends on the industry, but the gist is that remote working is not preferable.

How Many Hours Does A Cost Estimator Work?

Typically, cost estimators work 40 hours or more weekly.

In addition, sometimes they have to work overtime too.

So, on average, a cost estimator works six to nine hours daily.

Can A Cost Estimator Work Part-Time?

Most cost estimators that work for other companies work full-time.

However, self-employed individuals can work part-time too.

Not to mention they spend a lot of time on calls.

Thus, even with a part-time job, cost estimators work around the clock.

Additionally, companies rarely offer this type of flexibility.

What Are The Average Vacation Days Of A Cost Estimator?

There are no fixed vacation days for cost estimators.

It all depends on the company policies.

Alternative Careers & Similar Jobs to a Cost Estimator

Cost Estimator Resume Tips

If you don’t know how to write a good resume, there is no need to stress out.

Here are some tips that will assist you in your task:

Make sure that every detail you have put is relevant to the field
Display mathematical skills by inputting figures for past works
Use keywords to ensure your resume is ATS-friendly
Avoid using fancy layouts as they hinder readability
Ensure that you have enough experience

By following these tips, impressing the employer will be a breeze.

The critical point to remember is to make the resume relevant to the cost estimator job.

Cost Estimator Interview Questions

As an employer, here are the top questions to ask during an interview:

Q1: List the skills you think a cost estimator must have.

Why it works: This question will allow you to learn the applicant’s skills.

Q2: Explain your estimating process in detail.

Why it works: This will allow the candidate to demonstrate their capability. Hence, you will gain a better insight into their experience.

Q3: What will you do if a client asks for a reanalysis of all project estimates?

Why it works: This will let you know if the applicant can tackle stressful conditions.

Q4: How do you manage tight deadlines?

Why it works: Cost estimators may have to work with tight deadlines.

Hence, this question will allow you to learn if the candidate can manage well.

Jobs Related To Cost Estimator

Here are some professions similar to this career path:

Logistics Analyst
Accountant
Assessor
Construction Managers
Financial Analysts
And much more

For HR Managers: Tips For Hiring A Cost Estimator

If you are an HR manager, you must hire the best candidate.

Hence, here are some tips that will assist you during hiring:

Key Characteristics To Look For In A Cost Estimator

Here are some essential skills to look for in potential applicants:

Strong background in mathematics
Clear communication skills
Ability to manage time well
Prior experience in an estimator or a similar position
High analytical skills
Familiar with spreadsheets and other software
Ability to think creatively

Minimum Level Of Education & Expertise

The minimum level of education is a high school degree.

However, a bachelor’s degree is preferable in most cases.

Moreover, a few years of experience is necessary.