Cost Estimators

Written By Keandra Wilson

 1. OVERVIEW

Cost estimators collect and analyze data to assess the time, labor, materials, and financial resources needed to manufacture products, construct buildings, or deliver services. They play a critical role in helping businesses price projects and bids accurately across construction, manufacturing, and engineering sectors.

  • 2024 Median Pay: $77,070/year ($37.05/hour)

  • Job Growth (2023–2033): –4% (Decline)

  • Typical Education: Bachelor’s degree in construction management, engineering, business, or finance

2. ROLE BREAKDOWN BY LEVEL

ENTRY LEVEL

  • Job Titles: Junior Estimator, Estimating Assistant, Cost Analyst I, Project Estimating Coordinator

  • Education: Bachelor’s degree in construction management, business, engineering, or a related field

  • Experience: Internships or cooperative education programs recommended

  • Certifications (Optional):

    • AACE Certified Estimating Technician (CET)

    • OSHA 10-hour (for construction estimators)

  • Core Duties:

    • Assist in preparing cost estimates using software and spreadsheets

    • Analyze project plans, blueprints, and specifications

    • Research material and labor costs

    • Compile historical cost data and maintain cost databases

    • Support senior estimators in bid development

  • Salary Range: $55,000–$75,000

MID LEVEL

  • Job Titles: Cost Estimator, Estimating Engineer, Project Cost Analyst, Construction Estimator

  • Education: Bachelor’s degree required; Master’s in project management or business helpful

  • Experience: 3–5 years in cost estimation or construction/project finance

  • Certifications (Preferred):

    • AACE Certified Cost Professional (CCP)

    • ASPE Certified Professional Estimator (CPE)

  • Core Duties:

    • Prepare detailed and accurate cost projections for projects

    • Use CAD/BIM and cost estimating software (e.g., RSMeans, CostX)

    • Collaborate with architects, engineers, suppliers, and subcontractors

    • Identify cost-saving strategies and evaluate alternatives

    • Lead small teams and contribute to bid proposal development

  • Salary Range: $75,000–$100,000

SENIOR LEVEL

  • Job Titles: Senior Estimator, Chief Estimator, Cost Estimation Manager, Director of Estimating

  • Education: Bachelor’s or Master’s; MBA or PMP certification advantageous

  • Experience: 6+ years in cost estimation, plus leadership or project management background

  • Certifications (Recommended):

    • AACE Certified Cost Professional (CCP)

    • PMP (Project Management Professional)

    • ICEAA Certified Cost Estimator/Analyst (CCEA)

  • Core Duties:

    • Manage enterprise-wide estimating strategies and large-scale projects

    • Oversee and mentor junior and mid-level estimators

    • Review and finalize bids, ensuring alignment with client expectations and financial goals

    • Engage directly with stakeholders, executives, and regulatory bodies

    • Lead adoption of estimation software and systems

  • Salary Range: $100,000–$140,000+

3. HOW TO BECOME ONE

  • Minimum Education: Bachelor’s in Construction Management, Engineering, Finance, or Business

  • Training: Moderate on-the-job training; learn specialized software (BIM, RSMeans, Excel modeling)

  • Certifications:

    • Entry: AACE CET

    • Mid-Senior: AACE CCP, ASPE CPE, PMP

  • Soft Skills: Analytical thinking, attention to detail, time management, communication, teamwork

4. SKILLS & TOOLS

Core Skills

  • Cost estimation and bid development

  • Blueprint reading and project specification analysis

  • Statistical and financial modeling

  • Report writing and documentation

  • Negotiation and risk analysis

Tools

  • RSMeans, CostX, Sage Estimating

  • Microsoft Excel (advanced), Access, Primavera

  • Bluebeam Revu, ProEst, PlanSwift

  • CAD and BIM software (AutoCAD, Revit)

  • ERP systems like SAP or Oracle

5. WORK ENVIRONMENT

  • Locations: Offices, construction sites, manufacturing plants

  • Schedules: Full-time; occasional overtime during bid deadlines

  • Environment: Office-based with intermittent site visits; collaboration with multiple departments

6. JOB OUTLOOK

  • Growth Drivers: Despite job decline, need for accurate cost data in construction and manufacturing remains

  • Annual Openings: ~18,000 per year (2023–2033), mostly from retirements or career changes

  • Opportunities: Move into project management, finance, consulting, or operations leadership

7. RELATED OCCUPATIONS

Role: Construction Managers | Salary: $106,980 | Education Level: Bachelor’s degree

Role: Financial Analysts | Salary: $101,910 | Education Level: Bachelor’s degree

Role: Accountants and Auditors | Salary: $81,680 | Education Level: Bachelor’s degree

Role: Industrial Production Mgrs | Salary: $121,440 | Education Level: Bachelor’s degree

Role: Project Management Specialists | Salary: $100,750 | Education Level: Bachelor’s degree

8. RESOURCES FOR LEARNING & ADVANCEMENT

🎓 Certifications & Courses

  • AACE International (www.aacei.org) – CCP, CCT

  • ASPE (www.aspenational.org) – CPE

  • Coursera/edX: Cost Estimation, Project Controls

  • LinkedIn Learning: Construction Cost Estimating, Excel for Estimators

📚 Books

  • Estimating in Building Construction by Steven Peterson

  • Cost Estimating Manual for Projects by James Bent

  • AACE International Skills & Knowledge of Cost Engineering (SKCE)

🎥 Videos & Channels

  • ASPE YouTube Channel

  • Lynda.com Estimating Tutorials

  • The B1M – Construction Cost Videos

  • Autodesk Construction Cloud Webinars

🌍 Communities

  • AACE International Forums

  • r/Construction (Reddit)

  • LinkedIn: Cost Estimators Network

  • ICEAA (International Cost Estimating and Analysis Association)

9. REGIONAL DATA & EMPLOYMENT TRENDS

  • BLS Profile: Cost Estimators – bls.gov

  • Projections Central: State-by-state growth forecasts

  • CareerOneStop: Local salary info and job postings

  • OEWS Maps: Geographic wage and employment data

 

Keandra Wilson
Previous

Customer Service Representative
Next

COOK