A cost estimator works in the construction business, providing assessment over the potential costs of a construction project. The job of a cost estimator is a very important one, as in many cases a construction project is won as a bid at an auction, where construction companies provide their own price quotes for the completion of the project – and in these cases making a proper assessment is very important to the success of the company. Good cost estimators are able to accurately predict the cost of a project even before it has been planned by the architect properly.
A degree related to construction is almost always required for becoming a cost estimator, though there are lots of acceptable alternatives such as architecture, management, and even engineering. The level of the degree required varies from company to company, as some more advanced and established companies are only willing to hire candidates with Master’s degrees. Working experience plays a major role in determining a candidate’s success, and experienced cost estimators are usually a very valuable asset in a construction company.
Cost estimators can earn anywhere between $30,000 – $64,000 annually. The pay rate is highly affected by the accuracy of the cost estimator’s predictions, and their ability to win bids for the construction company on a regular basis. This usually comes with a lot of background experience though, so cost estimators with a few years in the industry can usually look up to a good annual salary, often above the average.