Cost Engineer Salary

The average Cost Engineer in the United States earns approximately $78K per year. Cash earnings for Cost Engineers — which occasionally include more than $10K from bonuses and more than $8K from profit sharing — stretch from around $52K to approximately $124K. Career duration is the main element affecting pay for this group — the particular city and the specific company are driving factors as well. The majority of workers are highly satisfied with their job. Medical benefits are awarded to almost all, and a large number earn dental coverage. The data in this summary comes from the PayScale salary survey.

$50,728 - $117,088
(Median)
$51K
$78K
$120K
MEDIAN: $78,368
10%
50%
90%

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$20.48 - $64.98
(Median)
$20
$35
$65
MEDIAN: $34.00
10%
50%
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
$50,728 - $117,088  
   
Bonus
$0.00 - $9,731  
Profit Sharing
$293.61 - $8,170  
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).
)
$51,605 - $123,613  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 334
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
$20.48 - $64.98  
   
Overtime
$30.80 - $71.66  
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 - $9,731  
   
Profit Sharing
$293.61 - $8,170  
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).
)
$51,605 - $123,613  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 74
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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' salaries may sharply decline when they move into higher-end positions like Cost Estimator. The typical income for a Cost Estimator is $49K.

Cost Engineer Job Listings

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Popular Employer Salaries for Cost Engineer


Although Bechtel Corporation boasts the highest average salary in town at $101K, employee compensation still varies greatly — workers can make as little as $72K or as much as $151K.

Popular Skills for Cost Engineer


Survey results suggest that Cost Engineers put a wide range of professional skills to use. Most notably, skills in Project Management, Cost Accounting, Financial Analysis, and Microsoft Excel are correlated to pay that is above average, with boosts in pay of 4 percent. It is often found that people who know Microsoft Excel are also skilled in Project Management and Financial Analysis. Most people familiar with Data Analysis also 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.


Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Respondents with less than five years' experience take home $67K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $82K. Cost Engineers bring in $96K after working for 10 to 20 years. People who have worked for more than 20 years report a median income of $105K, which is barely higher than the median for folks with 10 to 20 years of experience.

Pay Difference by Location


For Cost Engineers, busy Baton Rouge offers a higher-than-average pay rate, 26 percent above the national average. Cost Engineers will also find cushy salaries in Houston (+16 percent), Richland (+11 percent), Auburn Hills (+9 percent), and San Francisco (+8 percent). Place of residence plays a huge part in a Cost Engineer's salary, with Denver Cost Engineers earning salaries that are 21 percent less than the national average. New York and Atlanta are a couple other places where companies are known to pay below the median — salaries are 10 percent lower and 6 percent lower, respectively.

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Experience Affects Cost Engineer Salaries




National Average
$79,000


Skills That Affect Cost Engineer Salaries

Project Management
up arrow 4%

Microsoft Excel
up arrow 3%

Financial Analysis
up arrow 3%

Cost Accounting
up arrow 3%

Construction Estimating
up arrow 2%

National Average
$79,000

Data Analysis
up arrow 3%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 92 votes.

Gender

Female
21 %
Male
79 %

Years of Experience

Less than 1 year
3%
1-4 years
33%
5-9 years
33%
10-19 years
17%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 82%
vision benefits Vision: 71% employee benefits None: 8%
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