Career and Education Opportunities for Cost Analysts in Huntsville, Alabama
Cost analyst career and educational opportunities abound in Huntsville, Alabama. About 2,420 people are currently employed as cost analysts in Alabama. By 2016, this is expected to grow 25% to 3,040 people employed. This is not quite as good as the nation as a whole, where employment opportunities for cost analysts are expected to grow by about 25.3%. In general, cost analysts prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service.
A person working as a cost analyst can expect to earn about $24 hourly or $50,010 yearly on average in Alabama and about $27 hourly or $56,510 annually on average in the U.S. as a whole. Incomes for cost analysts are not quite as good as in the overall category of Adjustment and Analysis in Alabama, and better than the overall Adjustment and Analysis category nationally. Jobs in this field include: environmental marketing specialist, procurement technician, and cost recovery/investment recovery technician.
The Huntsville area is home to eleven schools of higher education, including seven within twenty-five miles of Huntsville where you can get a degree as a cost analyst. Cost analysts usually hold a Bachelor's degree, so you can expect to spend about four years studying to be a cost analyst if you already have a high school diploma.
CAREER DESCRIPTION: Cost Analyst
In general, cost analysts prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. They also may specialize according to particular service performed or type of product manufactured.
Cost analysts confer with clients, vendors, personnel in other departments or construction foremen to consider and formulate estimates and resolve issues. They also talk with engineers, architects, owners, and contractors on changes and adjustments to cost estimates. Equally important, cost analysts have to analyze blueprints and other documentation to ready time and labor estimates. They are often called upon to ready estimates for use in selecting vendors or subcontractors. They are expected to ready estimates used by management for purposes such as planning, organizing, and scheduling work. Finally, cost analysts ready cost and expenditure statements and other needed documentation at regular intervals for the duration of projects.
Every day, cost analysts are expected to be able to articulate ideas and problems. They need to deal with basic arithmetic problems. It is also important that they listen to and understand others in meetings.
It is important for cost analysts to ready and maintain a directory of suppliers, contractors and subcontractors. They are often called upon to establish and maintain tendering process, and conduct negotiations. Somewhat less frequently, cost analysts are also expected to visit site and record data related to access, drainage and topography, and availability of services such as water and electricity.
Cost analysts sometimes are asked to visit site and record data related to access, drainage and topography, and availability of services such as water and electricity. And finally, they sometimes have to prepare cost monitoring and reporting systems and procedures.
Like many other jobs, cost analysts must be thorough and dependable and be able to absorb the factors involved and a problem and provide a well thought out solution.
Similar jobs with educational opportunities in Huntsville include:
- Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
- Business Management Analyst. Conduct organizational studies and evaluations, design systems and procedures, conduct work simplifications and measurement studies, and prepare operations and procedures manuals to assist management in operating more efficiently and effectively. Includes program analysts and management consultants.
- Coroner. Direct activities such as autopsies, pathological and toxicological analyses, and inquests relating to the investigation of deaths occurring within a legal jurisdiction to determine cause of death or to fix responsibility for accidental, violent, or unexplained deaths.
- Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
- Emergency Management Coordinator. Coordinate disaster response or crisis management activities, provide disaster preparedness training, and prepare emergency plans and procedures for natural, wartime, or technological disasters or hostage situations.
- Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
- Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
EDUCATIONAL OPPORTUNITIES: Cost Analyst Training
University of Alabama in Huntsville - Huntsville, AL
University of Alabama in Huntsville, 301 Sparkman Dr, Huntsville, AL 35899. University of Alabama in Huntsville is a medium sized university located in Huntsville, Alabama. It is a public school with primarily 4-year or above programs. It has 7,431 students and an admission rate of 89%. University of Alabama in Huntsville has 2 areas of study related to Cost Analyst. They are:
- Mechanical Engineering, bachelor's degree and doctor's degree which graduated eighty-two and six students respectively in 2008.
- Business Administration and Management, bachelor's degree and master's degree which graduated two and twenty-seven students respectively in 2008.
Virginia College-Huntsville - Huntsville, AL
Virginia College-Huntsville, 2800 Bob Wallace Ave, Huntsville, AL 35805-9945. Virginia College-Huntsville is a small college located in Huntsville, Alabama. It is a private for-profit school with primarily 4-year or above programs. It has 915 students and an admission rate of 83%. Virginia College-Huntsville has a bachelor's degree program in Business Administration and Management which graduated seven students in 2008.
John C Calhoun State Community College - Tanner, AL
John C Calhoun State Community College, 6250 U S Highway 31 N, Tanner, AL 35671. John C Calhoun State Community College is a medium sized college located in Tanner, Alabama. It is a public school with primarily 2-year programs and has 9,754 students. John C Calhoun State Community College has less than one year, one to two year, and associate's degree programs in Business Administration and Management which graduated two, zero, and twelve students respectively in 2008.
Athens State University - Athens, AL
Athens State University, 300 N Beaty St, Athens, AL 35611. Athens State University is a small university located in Athens, Alabama. It is a public school with primarily 4-year or above programs and has 3,322 students. Athens State University has a bachelor's degree program in Business Administration and Management which graduated three students in 2008.
Alabama A & M University - Normal, AL
Alabama A & M University, 4900 Meridian St, Normal, AL 35762. Alabama A & M University is a medium sized university located in Normal, Alabama. It is a public school with primarily 4-year or above programs. It has 5,124 students and an admission rate of 49%. Alabama A & M University has 2 areas of study related to Cost Analyst. They are:
- Mechanical Engineering, bachelor's degree which graduated 15 students in 2008.
- Business Administration and Management, bachelor's degree and master's degree which graduated eighty-three and sixteen students respectively in 2008.
Oakwood University - Huntsville, AL
Oakwood University, 7000 Adventist Blvd NW, Huntsville, AL 35896. Oakwood University is a small university located in Huntsville, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,850 students and an admission rate of 57%. Oakwood University has a bachelor's degree program in Business Administration and Management which graduated seven students in 2008.
Snead State Community College - Boaz, AL
Snead State Community College, 220 North Walnut Street, Boaz, AL 35957-0734. Snead State Community College is a small college located in Boaz, Alabama. It is a public school with primarily 2-year programs and has 2,234 students. Snead State Community College has an associate's degree program in Business Administration and Management which graduated two students in 2008.
Certified Professional Estimator: The American Society of Professional Estimators (ASPE) has been certifying construction estimators for over thirty years.
For more information, see the American Society of Professional Estimators website.
Certified Anti-Money Laundering Specialist: CAMS certification is rrecognized by employers in both private industry and government.
For more information, see the Association of Certified Anti-Money Laundering Specialists website.
Certified Investment Management Analyst: The CIMA offers an intense educational experience focusing on asset allocation, manager search and selection, investment policy and performance measurement.
For more information, see the Investment Management Consultants Association website.
Certified Cost Estimator/Analyst : The Society's Certified Cost Estimator/Analyst (CCE/A) program provides a professional credential to SCEA members and nonmembers who demonstrate mastery of basic concepts and methods.
For more information, see the Society of Cost Estimating and Analysis website.
LOCATION INFORMATION: Huntsville, Alabama
Huntsville is located in Madison County, Alabama. It has a population of over 176,645, which has grown by 11.6% over the last ten years. The cost of living index in Huntsville, 82, is well below the national average. New single-family homes in Huntsville are valued at $44,900 on average, which is far less than the state average. In 2008, 1,004 new homes were constructed in Huntsville, down from 1,558 the previous year.
The top three industries for women in Huntsville are health care, educational services, and accommodation and food services. For men, it is professional, scientific, and technical services, public administration, and construction. The average commute to work is about 18 minutes. More than 36.1% of Huntsville residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 12.7%, is higher than the state average.
The unemployment rate in Huntsville is 7.6%, which is less than Alabama's average of 10.7%.
The percentage of Huntsville residents that are affiliated with a religious congregation, 55.2%, is more than the national average but less than the state average. Whitesburg Church of God, Whitesburg Church and Maple Grove Church are among the churches located in Huntsville. The most common religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.
Huntsville is home to the Valley Hill Golf and Country Club and the Lowe Industrial Park as well as John H Steigerwood Field and Milton Frank Stadium. Shopping malls in the area include Madison Plaza Shopping Center, Madison Square Mall Shopping Center and Memorial Plaza Shopping Center. Visitors to Huntsville can choose from King's Inn, Candlewood Suites and Economy Inn for temporary stays in the area.