Cost Engineer Salary

Cost Engineers in the United States can expect wages of $78K per year on average. 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 $51K and $122K. Career duration is the main element affecting pay for this group — the particular city and the specific company are driving factors as well. Almost all enjoy medical while a large number get dental coverage. Vision coverage is also available to a fair number. The majority of workers are highly satisfied with their job. 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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As Cost Engineers make advancements to positions like Cost Estimator, salaries may go down sharply. Usually, Cost Estimators make $49K.

Cost Engineer Job Listings

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Popular Employer Salaries for Cost Engineer


The biggest paychecks can be found at Bechtel Corporation — the median salary there is $101K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $72K and highest ones in the neighborhood of $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, Financial Analysis, Cost Accounting, and Microsoft Excel are correlated to pay that is above average. Those proficient in Data Analysis are, more often than not, also skilled in Financial Analysis and Project Management. People who know Microsoft Excel usually also know 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.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Relatively untried employees who have less than five years' experience make $66K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $82K. Cost Engineers see a median salary of $98K after reaching one to two decades on the job. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $104K.

Pay Difference by Location

National Average: $79,753

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

Home to some of the best pay for Cost Engineers, Detroit offers exceptional salaries, 27 percent above the national average. Cost Engineers will also find cushy salaries in 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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