Cost Engineer Salary

Average Cost Engineers in the United States make around $78K annually. Total incomes of Cost Engineers incorporate potential for, in a few cases, more than $10K from bonuses and close to $8K from profit sharing; these performance components cause packages to range between $51K and $122K. This group's pay is mainly influenced by career duration, followed by geography and the particular employer. Job satisfaction is reported as high by the vast majority of workers. Medical benefits are awarded to nearly all, and most earn dental coverage. This snapshot results from replies to PayScale's salary survey.

$50,740 - $114,919
(Median)
$51K
$78K
$110K
MEDIAN: $78,481
10%
50%
90%

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$19.82 - $63.87
(Median)
$20
$35
$64
MEDIAN: $35.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$50,740 - $114,919  
   
Bonus
$0.00 - $10,082  
Profit Sharing
$202.73 - $8,056  
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).
)
$50,760 - $122,392  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 358
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$28$56$84
Hourly Rate
$19.82 - $63.87  
   
Hourly Tips
$11.76  
Overtime
$29.65 - $82.70  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$60K$120K$180K
Bonus
$0.00 - $10,082  
   
Profit Sharing
$202.73 - $8,056  
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).
)
$50,760 - $122,392  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 79
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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.

Common Career Paths for Cost Engineer


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Cost Engineers may experience a deep cut in pay as they move into an upper-level role like Cost Estimator. That position usually brings in $49K.

Cost Engineer Job Listings

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Popular Employer Salaries for Cost Engineer


Bechtel Corporation does shell out the biggest paychecks — the median in that office is $101K — but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $72K while workers on the upper end may rake in up to $151K.

Popular Skills for Cost Engineer


Survey results suggest that Cost Engineers use a fairly large toolkit of professional skills. Most notably, skills in Project Management, Financial Analysis, Cost Accounting, and Microsoft Excel are correlated to pay that is above average. It is often found that people who know Microsoft Excel are also skilled in Project Management and Financial Analysis. Those familiar with Data Analysis also tend to know 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.


Cost Engineers with a lot of experience tend to enjoy higher earnings. Respondents with less than five years' experience take home $66K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $82K. Cost Engineers who work for 10 to 20 years in their occupation tend to earn about $98K. Cost Engineers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $104K on average.

Pay Difference by Location

National Average: $79,753

Larger city markers indicate a job is popular in that location.

For Cost Engineers, Detroit provides a pay rate that is 27 percent greater than the national average. Cost Engineers can also look forward to large paychecks in cities like Baton Rouge (+25 percent), San Francisco (+22 percent), Houston (+14 percent), and Richland (+11 percent). Those in the field find the lowest salaries in Denver, 12 percent below the national average.

Related Job Salaries

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Experience Affects Cost Engineer Salaries




National Average
$80,000


Skills That Affect Cost Engineer Salaries


Financial Analysis
up arrow 3%

Cost Accounting
up arrow 2%

Microsoft Excel
up arrow 1%

Construction Estimating
0%

National Average
$80,000

Data Analysis
up arrow 1%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 81 votes.

Gender

Female
20 %
Male
80 %

Years of Experience

Less than 1 year
3%
1-4 years
32%
5-9 years
33%
10-19 years
19%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 83%
medical benefits
Vision: 73%
dental benefits
None: 7%
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