Cost Estimators

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What do they do?

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.

Also known as:

Acquisition Cost Estimator, Construction Estimator, Cost Analyst, Cost and Risk Analysis Manager, Cost Consultant, Cost Engineer, Cost Estimator, Estimator, Estimator Project Manager, Preconstruction Manager

Typical Wages

Annual wages for Cost Estimators in United States

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Projected Growth Rate

Employment of Cost Estimators is projected to grow 2 percent from 2018 to 2028, more slowly than average compared to all occupations.

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Projected Employment

No Data Available

Projected Employment Rankings For Virginia:

  • 2.4%

    Percent Change

    Ranks #32 in job growth rate
  • 1,050

    Annual Projected Job Openings

    Ranks #6 in net job growth

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Typical College Majors

Majors that prepare Cost Estimators:

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★ Number of granted degrees for degree type, Bachelors degree, is listed after the major.

Education Level

  • Doctorate or Professional Degree (0.6%)
  • Master's degree (4.9%)
  • Bachelor's degree (31.9%)
  • Associate's degree (11.2%)
  • Some college, no degree (27.7%)
  • High school diploma equivalent (20.5%)
  • Less than high school diploma (3.1%)

Percent of workers in this field

Colleges that Prepare

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Skills

People in this career often have these skills:

  • Mathematics - Using mathematics to solve problems.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • 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.
  • 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.
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Knowledge

People in this career often know a lot about:

  • 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.
  • Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
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Abilities

People in this career often have talent in:

  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
  • Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
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Activities: what you might do in a day

People in this career often do these activities:

  • Analyze business or financial data.
  • Confer with personnel to coordinate business operations.
  • Estimate costs of goods or services.
  • Confer with others about financial matters.
  • Monitor financial indicators.
  • Assess the cost effectiveness of products, projects, or services.
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This page includes data from:

O*NET OnLine Career data: O*NET 24.3 Database by the U.S. Department of Labor, Employment and Training Administration (“USDOL/ETA”). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA

Occupation statistics: USDOL U.S. Bureau of Labor Statistics Occupational Employment Statistics

careeronestop logo Videos: CareerOneStop, USDOL/ETA and the Minnesota Department of Employment & Economic Development

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