Cost Estimators Career

At the core of a cost estimators career is their ability to forecast cost of future projects in real time. As a cost estimator, one will need to forecast not only the cost but also the size and duration of various future projects and this is integral to the survival of a company or business. As a cost estimator, one will have to develop cost information based on current market trends and expected future trends and provide it to business managers and owners so that they can accordingly bid for a contract. It is also the responsibility of a cost estimator to determine which business endeavors present and future will make a profit.

How to become a cost estimator:

The educational requirements of cost estimators are industry specific and hence once should complete their primary education or undergraduate degree with respect to the industry. For example: if you are planning to join the construction industry as a cost estimator then you will require a degree in construction science or management. The good thing is that all manufacturing industries don’t require industry specific educational degrees and one can complete an undergraduate course in physical science, engineering, operations research, statistics, mathematics, finance, accounting, economics, business, or any related subject. Experience and knowledge of quantitative techniques is given a lot of value.

Cost estimator career courses, training, programs:

In order to pursue cost estimators career, one needs to first identify if they want to opt for a industry specific undergraduate program or a general business undergraduate program. Once identified, one can pursue the undergraduate program and follow it up with a graduate program, which will help them to enter the industry directly as a cost estimator. Alternatively, one can complete an undergraduate program and then get a couple of years experience in a specific industry or sector.

Cost estimator career schools/colleges, education:

There are several top colleges and universities in the USA that offer undergraduate and graduate programs in various subjects that are fundamental to pursue cost estimators career.

Top 4 colleges/universities:

Duke University (Fuqua)

University of Pennsylvania (Wharton)

Babson College (Olin)

Columbia University

Cost estimator job opportunities, salaries/pay:

According to the market analysis of top consultants, the salary of a cost estimator varies from $50,000 – $120,000 per annum. The average salary for a cost estimator in the US is $82,909 per annum with the hourly wage ranging from $16 to $25 per hour.

Category: Finance Careers

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