CFChooseField
Business and Finance

Cost Estimators

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.

Visual summary of pay, outlook, skills, interests, and preparation for Cost Estimators
Download graphic

Median pay

$77,070
Median annual pay for Cost Estimators.
U.S. Bureau of Labor Statistics · 2024
View source ↗

10-year growth

-4.2%
Projected employment growth from 2024 to 2034.
U.S. Bureau of Labor Statistics · 2024–2034 projections
View source ↗

Annual openings

16,900
Projected annual openings, including growth and replacement demand.
U.S. Bureau of Labor Statistics · 2024–2034 projections
View source ↗

Employment

221,400
Estimated U.S. employment for Cost Estimators in 2024.
U.S. Bureau of Labor Statistics · 2024
View source ↗

Jobs added or lost

-9,300
Projected numeric employment change from 2024 to 2034.
U.S. Bureau of Labor Statistics · 2024–2034 projections
View source ↗

Entry preparation

Bachelor's degree
Typical additional preparation: Moderate-term on-the-job training.
U.S. Bureau of Labor Statistics · 2024 profile
View source ↗
O*NET occupation profile

What the work involves

Strongest O*NET signals first.

Essential skills

  1. 1Mathematics
  2. 2Reading Comprehension
  3. 3Speaking
  4. 4Active Listening
  5. 5Critical Thinking
  6. 6Writing

Knowledge areas

  1. 1Mathematics
  2. 2Economics and Accounting
  3. 3Computers and Electronics
  4. 4Engineering and Technology
  5. 5Building and Construction
  6. 6Administration and Management

Abilities

  1. 1Inductive Reasoning
  2. 2Mathematical Reasoning
  3. 3Oral Comprehension
  4. 4Oral Expression
  5. 5Number Facility
  6. 6Written Comprehension

Career interests

  1. 1Conventional
  2. 2Enterprising
  3. 3Investigative
  4. 4Realistic
  5. 5Social
  6. 6Artistic

Work styles

  1. 1Attention to Detail
  2. 2Dependability
  3. 3Integrity
  4. 4Cautiousness
  5. 5Perseverance
  6. 6Self-Confidence

Work activities

  1. 1Getting Information
  2. 2Analyzing Data or Information
  3. 3Working with Computers
  4. 4Estimating the Quantifiable Characteristics of Products, Events, or Information
  5. 5Making Decisions and Solving Problems
  6. 6Communicating with Supervisors, Peers, or Subordinates

Work context

  1. 1E-Mail
  2. 2Telephone Conversations
  3. 3Spend Time Sitting
  4. 4Face-to-Face Discussions with Individuals and Within Teams
  5. 5Indoors, Environmentally Controlled
  6. 6Work With or Contribute to a Work Group or Team

Representative tasks

  • Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
  • Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
  • Collect historical cost data to estimate costs for current or future products.
  • Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
  • Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
  • Establish and maintain tendering process, and conduct negotiations.
  • Prepare estimates for use in selecting vendors or subcontractors.
  • Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.

Software and tools

Microsoft Excel · in demandMicrosoft Office software · in demandMicrosoft Outlook · in demandOn Center On-Screen Takeoff · in demandConstructConnect PlanSwift · in demandAdobe Acrobat · hot technologyIntuit QuickBooks · hot technologyMicrosoft PowerPoint · hot technologyMicrosoft Project · hot technologyMicrosoft Visio · hot technologyMicrosoft Word · hot technologyOracle Primavera Enterprise Project Portfolio Management · hot technology

Sources

BLS provides national pay, employment, and projections. O*NET provides skills, interests, preparation, tasks, work context, and tools.

ChooseField compares fields using public labor-market and professional sources.