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Accurately forecasting the cost, size, and duration of future projects is vital to the survival of any project. Cost estimators develop the cost information that business owners and managers need to make a bid for a building contract. Regardless of the industry in which they work, estimators collect and analyze data on all of the factors that can affect costs, such as materials, labor, location, duration of the project, and special machinery requirements. Job duties vary widely depending on the type and size of the project.
Employment of cost estimators is expected to grow by 25 percent between 2008 and 2018, much faster than average for all occupations. In particular, construction and repair of highways, streets, bridges, subway systems, airports, water and sewage systems, and electric power plants and transmission lines will stimulate the need for more cost estimators. Similarly, an increasing population will result in more construction of residential homes, hospitals, schools, restaurants, and other structures that require cost estimators. As the population ages, the demand for nursing and extended-care facilities will also increase. The growing complexity of construction projects will also boost demand for cost estimators as more workers specialize in a particular area of construction.
About 59 percent of cost estimators work in the construction industry, and another 15 percent are employed by manufacturers. The remainder worked in a wide range of other industries. Overall, Good job opportunities are expected; those with industry work experience and a bachelor's degree in a related field will have the best prospects.