When you heard the term “cost estimator,” you probably started thinking of a calculator right away. That is not the case. A cost estimator is not a machine or computer program but rather a very important person to many businesses because they can estimate the overall costs of projects, typically construction projects.
Cost estimators are usually employed by big construction companies to give them a sort of preview of how much the overall expense will be. As such, they must have a working knowledge of construction and engineering, business and management, as well as manufacturing. Of course, they don’t do it by picking out a number. They employ software to assist in predicting the possible expenditures.
How do you become a cost estimator? Can you just pick this out as a degree? Actually, there is no degree or training that would automatically lead you to this role. Typically, a previous background in management, finance, engineering, construction, or manufacturing would help greatly in having the necessary expertise to apply for this job.
Most cost estimators actually start as clerks or apprentices in a construction company. Experience is probably the most important skill that is needed, for this will be how he’ll predict most of the project’s expenses. He will already know the trends and the market prices most of the time so he could quickly come up with the possible expenditure.
Roles and Responsibilities
Cost estimators do a number of things. The most important is probably to compile and analyze data. They will be expected to be knowledgeable in a lot of the current trends and prices concerning construction and manufacturing. From these figures, they must be able to provide a projected expenditure as well as an analysis of these and finally help in preparing the budget, making sure that every detail is correct and accounted for.
Cost estimators are paid handsomely for their expertise and knowledge. Statistics show that the average pay for can range around $ 50,000 to $ 60,000 per year, while some may even get to earn around $ 100,000 a year. So if you have background in engineering, you might be interested in taking this exciting career path and earning a good deal of money as well.
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