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Cost Engineer Salary

Pay for Cost Engineers in the United States sits in the ballpark of $78K annually. In the world of Cost Engineers, overall cash allowance can occasionally include more than $10K from bonuses and, in some exceptional cases, $8K from profit sharing, causing incomes to vary widely between $52K and $123K. Career duration is the biggest factor affecting pay for this group, followed by geography and the particular employer. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a strong majority. Most Cost Engineers report high levels of job satisfaction. Making up 79 percent of those who took the survey, male Cost Engineers greatly outnumber their female counterparts. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$51,637 - $117,538
(Median)
$52K
$78K
$120K
MEDIAN: $77,731
10%
50%
90%

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$20.60 - $64.11
(Median)
$21
$35
$64
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
$51,637 - $117,538  
   
Bonus
$0.00 - $9,854  
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).
)
$52,448 - $123,414  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 346
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
$20.60 - $64.11  
   
Overtime
$31.05 - $70.93  
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 - $9,854  
   
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).
)
$52,448 - $123,414  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 78

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United States (change)


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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 who take a Cost Estimator role, an upper-level role, may see a decrease in pay. Pay for Cost Estimators is usually $49K.

Cost Engineer Job Listings

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Popular Employer Salaries for Cost Engineer


Although Bechtel Corporation heads up the field in terms of compensation, offering the highest median salary at $99K, pay at this particular employer still varies considerably, running the full spectrum from $73K to $151K.

Popular Skills for Cost Engineer


Cost Engineers report using a pretty varied skill set on the job. Most notably, skills in Construction Estimating, Project Management, Financial Analysis, and Microsoft Excel are correlated to pay that is above average, with boosts between 4 percent and 8 percent. Most people familiar with Data Analysis also know Financial Analysis and Project Management. It is often found that people who know Microsoft Excel are also skilled in Project Management and Financial Analysis.

Pay by Experience Level for Cost Engineer

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


For many Cost Engineers, more experience generally translates to higher pay. The average worker who claims fewer than five years of experience earns around $67K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $81K. For Cost Engineers, 10 to 20 years of experience on the job amounts to an average salary of $95K. Cost Engineers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $106K.

Pay Difference by Location


For those looking to make money, Cost Engineers in Baton Rouge enjoy an exceptional pay rate, 26 percent above the national average. Cost Engineers will also find cushy salaries in Houston (+17 percent) and Richland (+12 percent). Falling short of the national average by 9 percent, the area with the worst salaries is New York.

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United States (change)

Experience Affects Cost Engineer Salaries




National Average
$79,000


Skills That Affect Cost Engineer Salaries

Construction Estimating
up arrow 8%

Project Management
up arrow 4%

Financial Analysis
up arrow 4%

Microsoft Excel
up arrow 3%

Cost Accounting
up arrow 1%

National Average
$79,000

Data Analysis
up arrow 1%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 100 votes.

Gender

Female
21 %
Male
79 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
34%
10-19 years
18%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 83%
vision benefits Vision: 71% employee benefits None: 7%
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