Cost Estimators

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This occupation is part of the Business and Financial Operations cluster

About the Job

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.

It is also Called

  • Building Construction Estimator
  • Building Estimator
  • Construction Estimator
  • Construction Job Cost Estimator
  • Cost Analyst
  • Cost Estimator
  • Cost Recovery/Investment Recovery Technician
  • Crating and Moving Estimator
  • Design Consultant
  • Electrical Estimator

What They Do

  • Consult with clients, vendors, personnel in other departments or construction foremen to discuss and formulate estimates and resolve issues.
  • Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
  • Prepare estimates for use in selecting vendors or subcontractors.
  • 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.
  • Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
  • Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
  • Set up cost monitoring and reporting systems and procedures.
  • Conduct special studies to develop and establish standard hour and related cost data or to effect cost reduction.
  • Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.

Interests

People who work in this occupation generally have the interest code: EC.

This means people who work in this occupation generally have Enterprising interests, but also prefer Conventional environments.

Work Values

People who work in this occupation generally prize Relationships, but also value Independence and Working Conditions in their jobs.

Things They Need to Know

  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • 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.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Things They Need to Be Able to Do

  • Mathematics - Using mathematics to solve problems.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Speaking - Talking to others to convey information effectively.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Management of Financial Resources - Determining how money will be spent to get the work done, and accounting for these expenditures.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

Education Required

Most of these occupations require a four-year bachelor's degree, but some do not.

Wages

In 2012, the average annual wage in California was $69,220 with most people making between $35,470 and $110,070

Outlook

3.26%
avg. annual growth

During 2010, this occupation employed approximately 22,400 people in California. It is projected that there will be 29,600 employed in 2020.

This occupation will have about 730 openings due to growth and about 430 replacement openings for approximately 1,160 total annual openings.

Common College Majors

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