Cost Estimators
13-1051.00
Updated 2024

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.

Sample of reported job titles: Acquisition Cost Estimator, Analyst, Construction Estimator, Cost Analyst, Cost Consultant, Cost Engineer, Cost Estimating Analyst, Cost Estimator, Estimating Specialist, Estimator

Occupation-Specific Information

Tasks

  • 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.
  • Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
  • Conduct special studies to develop and establish standard hour and related cost data or to reduce cost.
  • Visit site and record information about access, drainage and topography, and availability of utility services.
  • Prepare and maintain a directory of suppliers, contractors and subcontractors.
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Technology Skills

  • Accounting software — ConEst T&M Billing Manager; Cost accounting software; Intuit QuickBooks Hot technology ; Sage 50 Accounting; 2 more
  • Analytical or scientific software — ConEst Electrical Formulas; Construction Management Software ProEst; Procore software Hot technology ; WinEstimator WinEst; 3 more
  • Computer aided design CAD software — Autodesk AutoCAD Hot technology ; Autodesk Revit Hot technology ; ConEst SureCount; Dassault Systemes CATIA; 2 more
  • Customer relationship management CRM software — Microsoft Business Contact Manager
  • Data base reporting software — Oracle Hyperion; SAP BusinessObjects Crystal Reports; Software AG enterprise software
  • Data base user interface and query software — Assured Software JPP; Microsoft Access Hot technology ; Sage 300 Construction and Real Estate; Xactware Xactimate; 1 more
  • Document management software — Adobe Acrobat Hot technology ; Laserfiche Avante
  • Electronic mail software — Microsoft Outlook In-Demand Hot technology
  • Enterprise resource planning ERP software — Microsoft Dynamics Hot technology ; Oracle JD Edwards EnterpriseOne; SAP software Hot technology
  • Expert system software — EFI Hagen OA
  • Financial analysis software — CPR Visual Estimator; IBM Costimater; PRICE Sytems TruePlanning; Primavera Cost Management; 4 more
  • Graphics or photo imaging software — Trimble SketchUp Pro Hot technology
  • License management software — ConEst Permit Trac
  • Office suite software — Microsoft Office software In-Demand Hot technology
  • Presentation software — Microsoft PowerPoint In-Demand Hot technology
  • Process mapping and design software — Microsoft Visio Hot technology
  • Project management software — Galorath SEER; HCSS HeavyJob; Microsoft Project Hot technology ; Oracle Primavera Enterprise Project Portfolio Management Hot technology ; 6 more
  • Spreadsheet software — Apple AppleWorks; Corel QuattroPro; IBM Lotus 1-2-3; Microsoft Excel In-Demand Hot technology
  • Word processing software — Microsoft OneNote; Microsoft Word In-Demand Hot technology
Hot technology
Hot Technologies are requirements most frequently included across all employer job postings.
In demand
In Demand skills are frequently included in employer job postings for this occupation.

Occupational Requirements

Work Activities

  • Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Working with Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Estimating the Quantifiable Characteristics of Products, Events, or Information — Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
  • Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
  • Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
  • Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
  • Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
  • Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
  • Scheduling Work and Activities — Scheduling events, programs, and activities, as well as the work of others.
  • Communicating with People Outside the Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
  • Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
  • Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
  • Monitoring Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
  • Providing Consultation and Advice to Others — Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
  • Coaching and Developing Others — Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
  • Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
  • Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
  • Judging the Qualities of Objects, Services, or People — Assessing the value, importance, or quality of things or people.
  • Guiding, Directing, and Motivating Subordinates — Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
  • Training and Teaching Others — Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
  • Coordinating the Work and Activities of Others — Getting members of a group to work together to accomplish tasks.

Detailed Work Activities

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Work Context

Experience Requirements

Job Zone

Title
Job Zone Four: Considerable Preparation Needed
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Related Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, conservation scientists, art directors, and cost estimators.
SVP Range
(7.0 to < 8.0)

Training & Credentials

State training
Local training
Certifications
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Apprenticeship Opportunities

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Worker Requirements

Skills

  • Mathematics — Using mathematics to solve problems.
  • Reading Comprehension — Understanding written sentences and paragraphs in work-related documents.
  • Speaking — Talking to others to convey information effectively.
  • Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
  • Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Writing — Communicating effectively in writing as appropriate for the needs of the audience.
  • Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Coordination — Adjusting actions in relation to others' actions.
  • Management of Financial Resources — Determining how money will be spent to get the work done, and accounting for these expenditures.
  • Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
  • Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Negotiation — Bringing others together and trying to reconcile differences.
  • Persuasion — Persuading others to change their minds or behavior.
  • Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Systems Evaluation — Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
  • Time Management — Managing one's own time and the time of others.

Knowledge

  • Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
  • Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Engineering and Technology — Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
  • Building and Construction — Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
  • Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Design — Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
  • Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

Education

How much education does a new hire need to perform a job in this occupation? Respondents said:

  • 82%
     
    Bachelor’s degree required
  • 9%
     
    Associate’s degree required
  • 5%
     
    High school diploma or equivalent required

Worker Characteristics

Abilities

  • Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
  • Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
  • Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.
  • Written Comprehension — The ability to read and understand information and ideas presented in writing.
  • Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
  • Near Vision — The ability to see details at close range (within a few feet of the observer).
  • Written Expression — The ability to communicate information and ideas in writing so others will understand.
  • Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Speech Clarity — The ability to speak clearly so others can understand you.
  • Speech Recognition — The ability to identify and understand the speech of another person.
  • Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
  • Flexibility of Closure — The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
  • Fluency of Ideas — The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
  • Selective Attention — The ability to concentrate on a task over a period of time without being distracted.
  • Visualization — The ability to imagine how something will look after it is moved around or when its parts are moved or rearranged.

Interests

Interest code: CE
Want to discover your interests? Take the O*NET Interest Profiler at My Next Move.
  • Conventional — Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
  • Enterprising — Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.

Work Values

  • Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
  • Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
  • Working Conditions — Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.

Work Styles

  • Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
  • Integrity — Job requires being honest and ethical.
  • Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
  • Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  • Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  • Persistence — Job requires persistence in the face of obstacles.
  • Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
  • Initiative — Job requires a willingness to take on responsibilities and challenges.
  • Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high-stress situations.
  • Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  • Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
  • Self-Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
  • Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
  • Innovation — Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.

Workforce Characteristics

Wages & Employment Trends

Median wages (2023)
$35.94 hourly, $74,740 annual
State wages
Local wages
Employment (2023)
227,900 employees
Projected growth (2023-2033)
Decline (-1% or lower)
Projected job openings (2023-2033)
18,000
State trends
Top industries (2023)

Source: Bureau of Labor Statistics 2023 wage data and 2023-2033 employment projections . “Projected growth” represents the estimated change in total employment over the projections period (2023-2033). “Projected job openings” represent openings due to growth and replacement.

Job Openings on the Web

State job openings
Local job openings

More Information

Professional Associations

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National Associations
Accreditation, Certification, & Unions