|
|
|
|
|
|
|
Home » Uncategorized »
|
|
Cost Estimator
Cost estimators determine total expenses to manufacture goods or complete a project. This information is forwarded to supervisors and company owners to determine whether to follow through with a proposed project. When it is determined that a project or product will not be profitable, they are usually cancelled. Cost estimators are also responsible to determine which operations or projects are making money. Making cost estimates usually differs in each industry.
Cost estimators examine all factors affecting project expanses. These factors can include labor costs, materials expenses, consultant fees, machinery costs, or anything affecting project or product costs.
Those working for construction companies examine blueprints and stop by work sites. They estimate labor and supply costs necessary to finish a construction project. Other factors they take into consideration include work stoppages resulting from poor weather and unused supplies. Once they have completed their estimates, they report them to project supervisors and anyone else that must be notified, usually in a written report. Big companies sometimes hire multiple cost estimators with certain specialties. An estimator with expertise on labor costs and an estimator with expertise on supply costs could work for the same company.
Estimators employed by manufacturing companies can usually be found in each division of the company. Before a manufacturing project, they determine whether it is better to manufacture or buy necessary parts. Costs involving custom software development are one of the most difficult expenses to determine, so many companies hire estimators that specialize in this area.
How do you prepare for this career?
Job preparation for this career is industry specific. Construction companies usually seek individuals that have studied architecture, construction management, or building construction during college. Manufacturing companies often seek individuals that studied statistics, math, engineering, or operations research during college. Those that studied economics, business management, or accounting in college frequently begin careers as cost estimators.
How much will I earn?
Factors such as education level, prior work experience, and company size can affect salaries for cost estimators. Salaries for cost estimators in the 50th percentile made between $40,320-69,460 annually during 2008. Estimators in the lower 10th percentile made $31,600 or less while those in the upper 10th percent made $88,310 or more annually.
How many jobs are there?
During 2008, nearly 221,000 cost estimators were employed throughout the United States. Nearly 60 percent of estimators were employed by construction companies while nearly 15 percent were employed by manufacturing firms.
What is the future outlook for this career?
Job growth for cost estimators is projected to increase at a higher rate than growth in other industries at least until 2016. Individuals with college degrees and prior work experience will enjoy more job opportunities. Demand to improve and build new infrastructure will increase demand for cost estimators.
Related Articles
Learn More »
|
|
|
Find an Online Degree!
|
|
Get Free Information on top ranked accredited education programs!
|
| Publish on EducationAtlas.com! |
 |
|
 |
Have you written something that you would like to see published on EducationAtlas.com?
|
|
 |
|
|
 |
|
|
|
|
Learn Anytime, anywhere.
