Cost Engineer Salary

Average Cost Engineers in the United States make around $78K per year. Overall cash earnings for Cost Engineers stretch from $52K on the lower end to $123K near the top, and the heftiest packages can encompass around $10K from bonuses and $8K from profit sharing. While the particular city and the individual firm impact pay for this group, career length is the most influential factor. Medical benefits are awarded to almost all, and a large number earn dental coverage. Most Cost Engineers like their work and job satisfaction is high. This snapshot results from replies to PayScale's salary survey.

$51,284 - $117,088

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$20.48 - $64.98

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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
$51,284 - $117,088  
   
Bonus
$0.00 - $9,774  
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).
)
$51,968 - $123,068  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 334
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$27$54$81
Hourly Rate
$20.48 - $64.98  
   
Overtime
$30.80 - $79.46  
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 - $9,774  
   
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).
)
$51,968 - $123,068  
Country: United States | Currency: USD | Updated: 18 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


Cost Engineers seeking a sizable paycheck can earn the most at Bechtel Corporation, where the median salary comes to $101K, though the large pay difference between employees at the top ($72K) and those starting out ($151K) creates a rather diverse pay scale.

Popular Skills for Cost Engineer


Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Construction Estimating, Cost Accounting, Project Management, and Financial Analysis are correlated to pay that is above average, with boosts between 4 percent and 7 percent. Those who learned Microsoft Excel also tend to know Project Management and Financial Analysis. Most people skilled in Data Analysis are similarly competent in 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. Salaries of relatively inexperienced workers fall in the neighborhood of $67K, but folks who have racked up five to 10 years see a notably higher median of $82K. Cost Engineers claiming one to two decades of experience make an estimated median of $97K. 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 $106K.

Pay Difference by Location


Cost Engineers will find that Baton Rouge offers an impressive pay rate, one which exceeds the national average by 26 percent. 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. A couple other locations with smaller-than-average paychecks include New York (10 percent lower) and Atlanta (6 percent lower).

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Experience Affects Cost Engineer Salaries




National Average
$79,000


Skills That Affect Cost Engineer Salaries

Construction Estimating
up arrow 7%

Cost Accounting
up arrow 5%

Project Management
up arrow 4%

Microsoft Excel
up arrow 3%

Financial Analysis
up arrow 3%

National Average
$79,000

Data Analysis
up arrow 2%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 87 votes.

Gender

Female
20 %
Male
80 %

Years of Experience

Less than 1 year
3%
1-4 years
33%
5-9 years
33%
10-19 years
18%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 82%
vision benefits Vision: 72% employee benefits None: 8%
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