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Cost Engineer Salary

The average Cost Engineer in the United States earns approximately $76K per year. With some bonuses approaching $10K and certain profit sharing proceeds approaching $10K, overall incomes of Cost Engineers spread between $52K and $122K depending on individual performance. Earnings for this group are mostly affected by experience level, followed by the particular city and the particular employer. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. For the most part, Cost Engineers enjoy their work and report high levels of job satisfaction. Making up 78 percent of those who took the survey, male Cost Engineers greatly outnumber their female counterparts. The data for this synopsis comes from respondents who took the PayScale salary survey.
$51,349 - $116,545
(Median)
51K
76K
93K
120K
MEDIAN: $76,222
10%
50%
75%
90%

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$19.73 - $58.11
(Median)
20
26
34
44
58
MEDIAN: $34.00
10%
25%
50%
75%
90%

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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$51,349 - $116,545  
   
Bonus
$0.00 - $9,750  
Profit Sharing
$970 - $10,304  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$51,634 - $122,135  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 335
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$25$50$75
Hourly Rate
$19.73 - $58.11  
   
Overtime
$26.64 - $70.69  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$0.00 - $9,750  
   
Profit Sharing
$970 - $10,304  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$51,634 - $122,135  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 86
United States (change)

Job Description for Cost Engineer

Cost engineers focus on cost management for companies, helping estimate expenses and monitoring projects to ensure resources are maximized. These professionals may work on a specific project or projects for their organization, and they may specialize within a specific field (such as construction cost estimator and software project manager). Cost engineers typically work in an office environment during regular business hours. Their day-to-day tasks include planning new projects, consulting with colleagues on cost-related issues, conducting cost control for existing projects, and ensuring quality control for existing projects. Cost engineers analyze proposals and documents to prepare the time, cost, and labor estimates for their company as well. They are required to report their progress to their supervisor, and they may need to give presentations related to costs for managers in their company; in making presentations and presenting analyses, cost engineers must be capable of explaining technical concepts to a variety of audiences.

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Cost Engineer Tasks

  • Assesses cost effectiveness of products and projects.
  • Confers with other staff to adjust cost estimates.
  • Analyzes maps, blueprints, photos, charts, and other data to estimate costs.
  • Reviews raw materials and labor requirements for budget purposes.

Cost Engineer Job Listings

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Popular Employer Salaries for Cost Engineer


Employees of Bechtel Corporation can expect to make the most, with the company offering a median salary of $88K; however, pay is widely dispersed from bottom to top, ranging from $65K to $127K.

Popular Skills for Cost Engineer


Survey results imply that Cost Engineers put a diverse skill set to use. Most notably, skills in Financial Analysis, Construction Estimating, Project Management, and Microsoft Excel are correlated to pay that is above average, with boosts between 4 percent and 7 percent. The majority of those who know Microsoft Excel also know Project Management and Financial Analysis. Those educated in Data Analysis tend to be well versed in Financial Analysis and Project Management.

Pay by Experience Level for Cost Engineer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For many Cost Engineers, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Workers in their first five years can expect to earn $67K, but people who have been around for five to 10 years earn a noticeably bigger sum of $80K. Cost Engineers who work for 10 to 20 years in their occupation tend to earn about $95K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $101K.

Pay Difference by Location


With a pay rate for Cost Engineers that is 30 percent greater than the national average, Baton Rouge offers a comfortable salary for those in this profession. Cost Engineers will also find cushy salaries in Houston (+22 percent), Richland (+15 percent), Auburn Hills (+14 percent), and Atlanta (+5 percent). In New York, salaries are 9 percent below the national average and represent the lowest-paying market.

Related Job Salaries

Experience Affects Cost Engineer Salaries




National Average
$77,000


Skills That Affect Cost Engineer Salaries


Construction Estimating
up arrow 5%

Project Management
up arrow 4%

Microsoft Excel
up arrow 3%

National Average
$77,000

Data Analysis
up arrow 1%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 114 votes.

Gender

Female
22 %
Male
78 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
32%
10-19 years
19%
20 years or more
14%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 83%
vision benefits Vision: 71% employee benefits None: 8%