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Cost estimators are vital to the financial success of manufacturers, builders, and businesses. It’s the responsibility of an estimator to accurately access and analyze the costs to complete any given project. Estimators must factor in the cost of equipment, materials, supplies, labor, profit margin, and unexpected events, such as shipping delays and weather. The vast majority of estimators work within the construction industry, however, many are employed by manufacturers and government agencies.
Estimator TrainingBecause there is no formal degree for cost estimators, some companies prefer candidates with a strong work history or a bachelor’s degree in a related field. Candidates with a bachelor’s degrees in accounting, business, construction, economics, engineering and statistics have successfully become professional estimators. Many of these fields include cost estimating classes at the undergraduate level. Government agencies and some companies require estimators to complete a voluntary professional certification. Professional estimator certifications are issued by various organizations, including the American Society of Professional Estimators, the Association for the Advancement of Cost Engineering, and the Society of Cost Estimating and Analysis. To qualify for certification, estimators must pass a written exam and have two years of work experience as an estimator.
Careers as an EstimatorApproximately 60% of estimators work within the construction industry with the remainder employed by manufacturers. The most successful cost estimators can be promoted to project manager or go on to an independent consulting career. Due to the nature of the industry, estimators are required to work in the office and in the field. After performing an on-site analysis, estimators return to the office to prepare a full report and bid. In large companies, estimators may act as intermediaries between executives, subcontractors, and partners.
Average Salary for EstimatorsOn average, cost estimators earn between $55,000 and $60,000 annually depending on the industry. Estimators in entry-level positions earned more than $33,000 in 2008, however, the highest-paid estimators earned $94,000. Due to growth in the construction industry and the need for additional infrastructure, job openings for cost estimators are projected to grow rapidly over the next decade. According to the Bureau of Labor Statistics, more than 55,000 new job openings for cost estimators are expected by 2018.
What else can I help you with?
What is the correct spelling for estimator?
Estimator is the correct spelling.
What is an efficient estimator?
In statistics, an efficient estimator is an estimator that estimates the quantity of interest in some "best possible" manner
What is the uses of ratio estimator?
what is the use and application of ratio estimator?
What is another name for sales estimator?
what is another name for estimator
What is the criteria of a good estimator in econometrics?
Answer this question Critria of good estimator
What is the best estimator of population mean?
The best point estimator of the population mean would be the sample mean.
What are the properties of good estimators?
There are four main properties associated with a "good" estimator. These are: 1) Unbiasedness: the expected value of the estimator (or the mean of the estimator) is simply the figure being estimated. In statistical terms, E(estimate of Y) = Y. 2) Consistency: the estimator converges in probability with the estimated figure. In other words, as the sample size approaches the population size, the estimator gets closer and closer to the estimated. 3) Efficiency: The estimator has a low variance, usually relative to other estimators, which is called relative efficiency. Otherwise, the variance of the estimator is minimized. 4) Robustness: The mean-squared errors of the estimator are minimized relative to other estimators.
Difference between estimate estimator?
I think, the estimate is a numerical value, wile the estimator is a function or operator, which can be generate more estimates according to some factors. For example (xbar) is estimator for (meu), which can be various when the sample size in various, the value that will be produced is an (estimate), but (xbar) is estimator.
Where can I obtain a car payment estimator?
The majority of the major car manufacturers have a car payment estimator on their web sites. Most banking institutions may have this function as well. The payment is just an estimator.
What is the proof that demonstrates the unbiased estimator of variance?
The proof that demonstrates the unbiased estimator of variance involves showing that the expected value of the estimator equals the true variance of the population. This is typically done through mathematical calculations and statistical principles to ensure that the estimator provides an accurate and unbiased estimate of the variance.
Are free income tax estimators as good as paid estimators?
Yes, a free income tax estimator can be as good as a paid income tax estimator. A tax estimator just allows you to have an estimate of your tax return.
Where can one find a building cost calculator or estimator?
One can find a building cost calculator or estimator online at certain websites that provide services in calculation particularly with relevance to a building cost calculator or estimator.
