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Cost Engineer Salary

For Cost Engineers, yearly average wages total $77K annually. Total cash compensation to Cost Engineers ranges from $52K on the lower end to $123K on the higher end; the final number includes potential for approximately $10K each from bonuses and profit sharing in exceptional cases. Earnings for this group are mostly affected by career length, followed by geography and the specific company. Most Cost Engineers like their work and job satisfaction is high. Nearly all report receiving medical coverage from their employers and most collect dental insurance. Generally, women make up less than a third of all Cost Engineers who answered the questionnnaire. Participants in PayScale's salary questionnaire provided the particulars of this report.

$51,027 - $117,747
(Median)
$51K
$77K
$120K
MEDIAN: $77,286
10%
50%
90%

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$20.39 - $60.62
(Median)
$20
$35
$61
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
$51,027 - $117,747  
   
Bonus
$0.00 - $9,755  
Profit Sharing
$295.90 - $10,137  
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).
)
$51,726 - $123,099  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 343
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
$20.39 - $60.62  
   
Overtime
$30.39 - $70.45  
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 - $9,755  
   
Profit Sharing
$295.90 - $10,137  
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).
)
$51,726 - $123,099  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 81

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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 see a hefty downturn in earnings if they take top-notch roles like Cost Estimator. The average pay for a Cost Estimator is $49K.

Cost Engineer Job Listings

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Popular Employer Salaries for Cost Engineer


Cost Engineers seeking a sizable paycheck can earn the most at Bechtel Corporation, where the median salary comes to $97K, though the large pay difference between employees at the top ($74K) and those starting out ($151K) creates a rather diverse pay scale.

Popular Skills for Cost Engineer


Cost Engineers seem to require a number of specific skills. Most notably, skills in Construction Estimating, Financial Analysis, Project Management, and Microsoft Excel are correlated to pay that is above average, with boosts between 4 percent and 13 percent. Most people experienced in Data Analysis also know Financial Analysis and Project Management. Skill sets containing Microsoft Excel also tend to include 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.


Experience is an important factor influencing the compensation of Cost Engineers. Salaries of relatively inexperienced workers fall in the neighborhood of $66K, but folks who have racked up five to 10 years see a notably higher median of $81K. Cost Engineers claiming one to two decades of experience make an estimated median of $97K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $105K.

Pay Difference by Location


For Cost Engineers, working in the bustling city of Baton Rouge has its advantages, including an above-average pay rate. Cost Engineers can also look forward to large paychecks in cities like Houston (+20 percent), Richland (+12 percent), Auburn Hills (+11 percent), and Atlanta (+3 percent). The lowest-paying market is New York, which sits 8 percent below the national average.

Related Job Salaries

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Experience Affects Cost Engineer Salaries




National Average
$79,000


Skills That Affect Cost Engineer Salaries

Construction Estimating
up arrow 13%


Project Management
up arrow 4%

Microsoft Excel
up arrow 4%

Cost Accounting
0%

National Average
$79,000

Data Analysis
up arrow 3%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 105 votes.

Gender

Female
22 %
Male
78 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
33%
10-19 years
18%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 82%
vision benefits Vision: 71% employee benefits None: 7%