Cost Estimator job description template
If you are hiring for this role, start here. This free template is our detailed definition of the position, with everything you need to find and hire the right person. Copy it, add your own requirements, and post it.
What is a Cost Estimator?
Cost Estimators are responsible for determining the costs of labor, material, equipment, and other factors for a project, product, or service in various industries.
They closely collaborate with engineers, designers, and contractors to understand project specifications and requirements.
They evaluate financial, technical, and operational risks, create and present cost reports, and visit project sites to collect the necessary information for further analysis.
The top Cost Estimator skills.
Five things separate a strong hire from a résumé that reads well. Use these as your scorecard criteria.
The job description, ready to post.
Copy it as written, or edit it until it sounds like your company. Both work.
Our company is searching for a Cost Estimator to join our team. Your primary duties as a Cost Estimator will be to analyze and determine the costs of labor, material, equipment, and other factors for various projects, products, or services. You will review related documents and project plans to understand the project specifications and requirements, research and negotiate the best prices from suppliers and vendors, and accurately calculate the total amount of project costs.
Additionally, you will evaluate the financial, technical, and operational risks of projects, determine if certain factors will negatively affect the project costs, visit project sites to collect and analyze the necessary information, and create and present cost reports and other documentation.
As a Cost Estimator, you should have exceptional analytical, critical thinking, math, attention to detail, and communication skills.
Duties and responsibilities
- Analyze and determine the costs of labor, materials, equipment, and other factors for various projects, products, and services
- Review documents, blueprints, and project plans to understand a project’s specifications and requirements
- Research, negotiate, and obtain the best prices from suppliers and vendors
- Evaluate the financial, technical, and operational risks
- Create and present cost reports and other documentation
- Use relevant and company-approved formulas to calculate the costs of projects
- Review and document the total amount of materials and equipment needed
- Collaborate with contractors, designers, engineers, and other professionals
- Determine if certain factors will negatively influence project costs
- Visit project sites to collect and analyze the necessary information
- Keep up-to-date with the latest technologies and regulatory requirements
Requirements
- Bachelor’s degree in construction management, statistics, economics, engineering, or a related field
- Valid certification from the accredited institution is preferred
- Previous working experience as a Cost Estimator or Cost Analyst is advantageous
- Solid knowledge of construction and engineering processes
- Applicable knowledge of mathematics, statistics, and data analysis
- Ability to review and interpret technical documentation
- Exceptional critical thinking and analytical skills
- Meticulous attention to detail
- Communication and teamwork
Take the template with you
Copy it straight into your job board or ATS, or have it emailed to you with the interview questions for this role.
Degree first, then the certification.
Cost Estimators typically need a higher level of education to pursue this career path and demonstrate their knowledge and qualifications.
They usually obtain a Bachelor’s degree in construction management, engineering, mathematics, statistics, economics, or a related field.
Even though certifications are not mandatory for this position, many employers value continuous education and a strong knowledge base.
Certified Cost Professional (CCP) is a credential offered by the Association for Advancement of Cost Engineering International (AACE International), combining education, professional experience, and passing an examination.
Another valuable certification for Cost Estimators is a Certified Professional Estimator (CPE) offered by the American Society of Professional Estimators (ASPE).
Certified Cost Professional
Demonstrates expertise in cost estimation and project management.
AACE InternationalCertified Professional Estimator
Validates proficiency in estimating costs for construction projects.
American Society of Professional EstimatorsSample interview questions for a Cost Estimator.
Once you have gathered the applications, work through these in order. Twelve questions across four areas, enough to tell your shortlist apart.
- How do you think your friends would describe your personality in a few words?
- Is there any trait or habit that you would like to change about yourself?
- What do you enjoy doing outside of work?
- Why did you choose to become a Cost Estimator?
- How did you hear that we’re looking for a Cost Estimator?
- What would be your ideal salary range based on your qualifications and experience?
- Can you provide us with a brief overview of the projects you worked on so far?
- What methodologies and practices do you use to ensure the accuracy of your cost estimates?
- Could you describe a situation when you had to adjust your cost estimates due to the changes in the project?
- What are the main components of cost estimation, and how do they each contribute to the overall estimation process?
- What techniques and methods do you typically use to gather and analyze project data?
- How do you ensure your cost estimates are compliant with relevant regulations and industry practices?
How much to pay when hiring.
Annual pay by percentile. Where you land depends on the size of the cycle they will own, and the 25th percentile is usually where a first analyst hire sits.
Hourly equivalents run from $17 at the 10th percentile to $58 at the 90th.
Candidates may apply under a different name.
Post the title your industry uses and keep the rest of the description. These three roles overlap enough that the same posting usually reaches all of them.
Three titles, one description.
Search behavior varies by industry, so the same job is advertised under several names. If you are unsure which one your candidates search for, run two titles and see which fills.
Estimator
Cost Analyst
Cost Analysts are financial workers responsible for evaluating and analyzing the company’s financial information.
$72,422 medianCost Accountant
Cost Accountants are financial professionals who keep track of the company’s costs, budgets, and expenditures.
$70,301 medianFrequently asked questions.
What do Cost Estimators do?
Cost Estimators are professionals who collect, analyze, and determine the costs of labor, materials, equipment, and other factors for various projects, services, and products.
They review documents and project plans to understand the project requirements and specifications and use mathematic and statistical formulas and processes to accurately calculate project costs.
In what industries can Cost Estimators work?
Cost Estimators can work in various settings and industries, such as manufacturing, construction, heavy and civil engineering, automotive repair and maintenance, energy and utilities, real estate, etc.
Who do Cost Estimators report to?
Cost Estimators typically report to the Project Manager, Construction Manager, or Estimating Manager, depending on the organizational structure and industry.
Do Cost Estimators need certifications?
Generally, Cost Estimators are not required to have certifications for this position.
However, certifications can help them increase their hiring potential and demonstrate technical knowledge and expertise.
Other job description templates.
Same format, same free, same median pay data. Browse the full library if the role you are hiring for is not here.
Cost Analyst
Cost Analysts are financial workers responsible for evaluating and analyzing the company’s financial information.
$72,422 medianCost Accountant
Cost Accountants are financial professionals who keep track of the company’s costs, budgets, and expenditures.
$70,301 median