Becoming a cost estimator means you will probably work in the construction or the manufacturing industry. Many employers are beginning to prefer individuals who have an on-campus or online degree in construction management, building science or construction science. These degrees usually include several cost estimating courses.
In manufacturing, employers prefer to hire employees with a degree in engineering or a science or a math discipline. Those curriculums also usually contain courses on cost estimating.
In addition, most construction cost estimators have considerable experience in the construction industry gained through internships, summer jobs or coop education programs.
You’ll have a competitive advantage if you have a solid grasp of construction materials and what they cost, and how electrical, plumbing and masonry work is priced.
In manufacturing, employers prefer to hire employees with a degree in engineering or a science or a math discipline. Those curriculums also usually contain courses on cost estimating.
In addition, most construction cost estimators have considerable experience in the construction industry gained through internships, summer jobs or coop education programs.
You’ll have a competitive advantage if you have a solid grasp of construction materials and what they cost, and how electrical, plumbing and masonry work is priced.
Related Cost Estimator Programs
What does a cost estimator do?
Cost estimators develop cost information to make a legitimate bid on a contract. These estimates include the potential profit so the business owners and management can make informed decisions the projects.
The data cost estimators research and collect to cost out a project include:
• Materials
• Labor
• Location
• Project duration
• Special requirements
Cost estimating varies from industry to industry. For example, the duties of a cost estimator for a large construction project might include reviewing drawings, visiting the project site, gathering topography information, determining the quality of materials that will be used and examining subcontractor’s bids.
All of this information is placed into a cost summary for inclusion in the bid.
What kind of education does a cost estimator need?
An associates or bachelor’s degree in construction management or a related field plus extensive construction experience is preferred for cost estimators in the construction industry.
For manufacturing, degrees for cost estimators are preferred in engineering, operations research, math, statistics or related fields.
In both industries, courses in cost estimating are offered as part of the curriculum.
How much does a cost estimator earn?
Bureau of Labor Statistics suggest that median annual salaries for cost estimators is at around $56,520.
Where can a cost estimator work?
About 59% of cost estimators are employed in the construction industry. Another 15% are employed by manufacturers.