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.
Also called: Acquisition Cost Estimator · Analyst · Construction Estimator · Cost Analyst · Cost Consultant · Cost Engineer
Median pay (national)
$77,070
$46,330–$128,640 (10th–90th)
Employed (US)
219,530
BLS OEWS, May 2024
Outlook 2024–34
-4.2%
~16,900 openings/yr
Typical entry
Bachelor's degree
What the numbers say
Refit analysis ·Pay for cost estimators shows an unusually wide range: the top 10% earn $128,640 versus $46,330 at the bottom 10% — 2.8x. The median of $77,070 leaves roughly 67% of headroom to the 90th percentile, which is where seniority, specialization, and the skills below tend to pay off.
Refit analysis ·Employment is projected to change -4.2% from 2024 to 2034 — a projected decline, against +3% across all occupations. Even so, BLS projects about 16,900 openings a year, mostly to replace workers who retire or change careers.
Refit analysis ·Where you work moves the number a lot. Across the 53 states with released data, Massachusetts pays the most for this role (median $102,680, +33% vs the national median), while Puerto Rico sits lowest at $36,960 — a 178% spread for the same job title.
Refit analysis ·O*NET rates Reading Comprehension, Mathematics, Speaking as the highest-importance skills here — so a resume aimed at this role should lead with evidence of those, not a generic skills list. On the tools side, O*NET flags ConstructConnect PlanSwift, Microsoft Excel, Microsoft Office software, Microsoft Outlook as in-demand technologies for this role.
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Top skills employers ask for
Ranked by O*NET importance for this occupation.
- Reading Comprehension
- Mathematics
- Speaking
- Active Listening
- Critical Thinking
- Writing
- Active Learning
- Monitoring
- Learning Strategies
- Science
What they actually do
Core O*NET tasks for this role.
- 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.
- Set up cost monitoring and reporting systems and procedures.
- Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
Tools & technology
- ConstructConnect PlanSwift
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- On Center On-Screen Takeoff
- Autodesk AutoCAD
- Autodesk Revit
- Intuit QuickBooks
- Microsoft Visio
- Oracle Primavera Enterprise Project Portfolio Management
- Procore software
- SAP software
- Trimble SketchUp Pro
- Apple AppleWorks
- Assured Software JPP
- Choice Job Cost
Knowledge areas
- Mathematics
- Economics and Accounting
- Computers and Electronics
- Engineering and Technology
- Building and Construction
- Administration and Management
- English Language
- Design