Cost Estimators
Overview
Introduction
Cost estimators use standard estimating techniques to calculate the cost of a construction or manufacturing project. They help contractors, owners, and project planners determine how much a project or product will cost to decide if it is economically viable. There are approximately 227,900 cost estimators employed in the United States.
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Salaries vary according to the size of the construction or manufacturing firm and the experience and education of the worker. According to the U.S. Department of Labor, the median annual salary for cost estimators was $74,740 in May 2023. The lowest 10 percent earned less than $44,820 and the highest 10 percent earned more than $124,520. By industry, mean annual earnings were as follows:
Work Environment
Much of the cost estimators work takes place in a typical office setting with access to accounting records and other information. However, estimators must also visit construction sites or manufacturing facilities to inspect production procedures. These sites may be dirty, noisy, and potentially hazardous if the cost estimator is not equipped with proper protective gear such as a hard hat, safet...
Outlook
Employment for cost estimators is expected to decline by 4 percent from 2023 to 2033, according to the U.S. Department of Labor. More powerful estimation software is allowing estimators to work more productively. As in most industries, highly trained college graduates and those with the most experience will have the best job prospects.
Many jobs will arise from the need to replace worker...