Contractors Association Labor Estimating Manual
Cost estimators prepare estimates for the time, money, materials, and labor required to manufacture a product. Quick Facts: Cost Estimators $63,110 per year $30.34 per hour Bachelor's degree None Moderate-term on-the-job training 217,900 11% (Faster than average) 22,900 Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular product or industry. Cost estimators work mostly in offices, and some estimators also visit construction sites and factory assembly lines.
Located in headquarters outside Washington, D.C., the Sheet Metal and Air Conditioning Contractors' National Association (SMACNA), an international association of union contractors, has 1,834 members in 103 chapters throughout the United States, Canada, Australia and Brazil.
Most work full time. Most cost estimators need a bachelor’s degree, although some workers with several years of experience in construction may qualify without a bachelor’s degree. The median annual wage for cost estimators was $63,110 in May 2017. Employment of cost estimators is projected to grow 11 percent from 2016 to 2026, faster than the average for all occupations. Overall job opportunities should be good because companies require accurate cost estimates in order to operate profitably.
Explore resources for employment and wages by state and area for cost estimators. Compare the job duties, education, job growth, and pay of cost estimators with similar occupations. Learn more about cost estimators by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Cost estimators often collaborate with engineers. Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service.
They generally specialize in a particular product or industry. Duties Cost estimators typically do the following: • Identify factors affecting costs, such as production time, materials, and labor • Read blueprints and technical documents in order to prepare estimates • Collaborate with,, clients, and contractors • Calculate, analyze, and adjust estimates • Recommend ways to reduce costs • Work with sales teams to prepare estimates and bids for clients • Maintain records of estimated and actual costs Accurately estimating the costs of construction and manufacturing projects is vital to the survival of businesses. Cost estimators provide managers with the information they need in order to submit competitive contract bids or price products appropriately. Estimators analyze production processes to determine how much time, money, and labor a project needs. Their estimates account for many factors, including allowances for wasted material, bad weather, shipping delays, and other variables that can increase costs and lower profits. In building construction, cost estimators use software to simulate the construction process and evaluate the costs of design choices. They often consult databases and their own records to compare the costs of similar projects.
The following are examples of types of cost estimators: Construction cost estimators prepare estimates for buildings, roads, and other construction projects. They may calculate the total cost of building a bridge or commercial shopping center, or they may calculate the cost of just one component, such as the foundation. They identify costs of elements such as raw materials and labor, and they may set a timeline for how long they expect the project to take.
Although many work directly for construction firms, some work for contractors and engineering firms. Manufacturing cost estimators calculate the costs of developing, producing, or redesigning a company’s goods or services. For example, a cost estimator working for a home appliance manufacturer may determine a new dishwasher’s production costs, allowing managers to make production decisions. 2016 Jayco Eagle 12 Lso Owners Manual. Other workers, such as and, may also estimate costs in the course of their usual duties. Cost estimators may visit construction sites to gather information.
Cost estimators held about 217,900 jobs in 2016. The largest employers of cost estimators were as follows: Specialty trade contractors 37% Construction of buildings 18 Manufacturing 12 Automotive repair and maintenance 7 Heavy and civil engineering construction 5 Cost estimators work mostly in offices, and some estimators visit construction sites and factory assembly lines during the course of their work.