Cost estimators held about 217,400 jobs in 2018. The largest employers of cost estimators were as follows:
| Specialty trade contractors | 35% |
| Construction of buildings | 18 |
| Manufacturing | 12 |
| Automotive repair and maintenance | 7 |
| Heavy and civil engineering construction | 6 |
Cost estimators work mostly in offices, and some estimators visit construction sites and factory assembly lines during the course of their work.
Work Schedules
Most cost estimators work full time and some work more than 40 hours per week.
Most cost estimators need a bachelor’s degree, although some workers with several years of experience in construction may qualify without a bachelor’s degree.
Education
Employers generally prefer candidates who have a bachelor’s degree.
Construction cost estimators typically need a bachelor’s degree in an industry-related field, such as construction management or engineering. Manufacturing cost estimators typically need a bachelor’s degree in engineering, business, or finance.
Training
Most cost estimators receive on-the-job training, which may include instruction in cost estimation techniques and software, as well as industry-specific software, such as building information modeling (BIM) and computer-aided design (CAD) software.
Work Experience in a Related Occupation
Some employers prefer that construction cost estimators, particularly those without a bachelor’s degree, have previous work experience in the construction industry. Some construction cost estimators become qualified solely through extensive work experience.
Cost estimators typically have an interest in the Persuading, and Organizing interest areas, according to the Holland Code framework. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems.
If you are not sure whether you have a Persuading or Organizing interest which might fit with a career as a cost estimator, you can take a career test to measure your interests.
Cost estimators should also possess the following specific qualities:
Analytical skills. Accurately evaluating detailed specifications is crucial to a cost estimator’s success. For example, a cost estimator must determine how to minimize costs without sacrificing quality.
Detail oriented. Cost estimators must pay attention to small details because such details may have a large impact on a product’s overall cost.
Technical skills. Detailed knowledge of industry processes, materials, and costs are vital to estimators. In addition, they should be able to use specialized computer programs to calculate equations and handle large databases.
Time-management skills. Because cost estimators often work on fixed deadlines, they must plan their work in advance and work efficiently and accurately.
Writing skills. Cost estimators must be able to write detailed reports. Often, these reports determine whether or not contracts are awarded or products are manufactured.
The median annual wage for cost estimators was $65,250 in May 2019. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $39,380, and the highest 10 percent earned more than $111,350.
In May 2019, the median annual wages for cost estimators in the top industries in which they worked were as follows:
| Heavy and civil engineering construction | $75,890 |
| Construction of buildings | 69,240 |
| Specialty trade contractors | 65,650 |
| Manufacturing | 62,630 |
| Automotive repair and maintenance | 57,780 |
Most cost estimators work full time and some work more than 40 hours per week.
Employment of cost estimators is projected to grow 9 percent from 2018 to 2028, faster the average for all occupations.
There will continue to be demand for cost estimators because companies need accurate cost projections to ensure that their products and services are profitable.
Growth in the construction industry is expected to create the majority of new jobs for cost estimators, particularly in the specialty trade contractors industries.
Job Prospects
Overall job prospects should be good. Knowledge of building information modeling (BIM) and computer-aided design (CAD) software may improve job prospects, especially for those seeking employment in construction.
Jobs of cost estimators working in construction, like those of workers in many other trades in the construction industry, are sensitive to changing economic conditions.
For more information about cost estimators, visit
American Society of Professional Estimators
Association for the Advancement of Cost Engineering International (AACE International)
International Cost Estimating and Analysis Association