DETAILED OCCUPATION DATA
13-1051 Cost Estimators
Occupational Description:
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.| Percentiles | |||||||||
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| Geography | Employment | Emp SE* | Mean | Mean SE* | 10th | 25th | Median | 75th | 90th |
| Seven County Mpls-St Paul, MN | 2,840 | 245 | $34.38/hr | $0.74/hr | $21.64/hr | $26.24/hr | $32.34/hr | $40.12/hr | $49.13/hr |
| Minnesota | 4,480 | 273 | $33.06/hr | $0.53/hr | $20.66/hr | $25.12/hr | $31.12/hr | $39.12/hr | $48.12/hr |
| U S | 210,000 | 1,890 | $34.63/hr | $0.10/hr | $19.11/hr | $24.89/hr | $31.67/hr | $41.77/hr | $54.03/hr |
| *SE = Standard error, a measure of the statistical reliability of the estimate. | |||||||||
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| Occupation (click title for details) | OES | Projections | |
|---|---|---|---|
| Employment | Median Wage | % Change 2022 - 2032 | |
| Claims Adjusters, Examiners, and Investigators | 5,410 | $31.28/hr | -4.6% |
| Insurance Underwriters | 1,600 | $36.10/hr | -3.2% |
| Credit Analysts | 1,420 | $38.59/hr | -5.1% |
| Tax Preparers | 940 | $27.05/hr | 1.3% |
| Actuaries | 450 | $48.48/hr | 24.3% |
| Budget Analysts | 400 | $38.63/hr | 3.7% |
| Insurance Appraisers, Auto Damage | N/A | $28.62/hr | N/A |
Tasks for Cost Estimators
- Analyzes blueprints, specifications, proposals, and other documentation, to prepare time, cost, and labor estimates.
- Prepares estimates used for management purposes, such as planning, organizing, and scheduling work.
- Prepares estimates for selecting vendors or subcontractors, and determining cost effectiveness.
- Reviews data to determine material and labor requirements, and prepares itemized list.
- Prepares time, cost, and labor estimates for products, projects, or services, applying specialized methodologies, techniques, or processes.
- Conducts special studies to develop and establish standard hour and related cost data or to effect cost reduction.
- Computes cost factors used for preparing estimates for management and determining cost effectiveness.
- Consults with clients, vendors, or other individuals to discuss and formulate estimates and resolve issues.
