Career and Education Opportunities for Cost Analysts in Montgomery, Alabama
Many educational and employment opportunities exist for cost analysts in the Montgomery, Alabama area. About 2,420 people are currently employed as cost analysts in Alabama. By 2016, this is expected to grow by 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%. Cost analysts generally prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service.
Cost analysts earn about $24 hourly or $50,010 yearly on average in Alabama and about $27 hourly or $56,510 per year on average nationally. Cost analysts earn less than people working in the category of Adjustment and Analysis generally in Alabama and more than people in the Adjustment and Analysis category nationally. Jobs in this field include: design consultant, crating and moving estimator, and cost recovery/investment recovery technician.
The Montgomery area is home to twelve schools of higher education, including seven within twenty-five miles of Montgomery where you can get a degree as a cost analyst. The most common level of education for cost analysts is a Bachelor's degree. 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 Montgomery 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.
- License Examiner. Examine, evaluate, and investigate eligibility for, conformity with, or liability under licenses or permits.
- 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
Faulkner University - Montgomery, AL
Faulkner University, 5345 Atlanta Hwy, Montgomery, AL 36109-3378. Faulkner University is a small university located in Montgomery, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,992 students and an admission rate of 25%. Faulkner University has 2 areas of study related to Cost Analyst. They are:
- Business/Commerce, bachelor's degree and master's degree which graduated six and eighty-three students respectively in 2008.
- Business Administration and Management, associate's degree and bachelor's degree which graduated seven and 290 students respectively in 2008.
South University-Montgomery - Montgomery, AL
South University-Montgomery, 5355 Vaughn Road, Montgomery, AL 36116-1120. South University-Montgomery is a small university located in Montgomery, Alabama. It is a private for-profit school with primarily 4-year or above programs. It has 576 students and an admission rate of 90%. South University-Montgomery has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated eight, six, and two students respectively in 2008.
Alabama State University - Montgomery, AL
Alabama State University, 915 S Jackson Street, Montgomery, AL 36101-0271. Alabama State University is a medium sized university located in Montgomery, Alabama. It is a public school with primarily 4-year or above programs. It has 5,695 students and an admission rate of 42%. Alabama State University has a bachelor's degree program in Business Administration and Management which graduated thirty-four students in 2008.
Tuskegee University - Tuskegee, AL
Tuskegee University, Kresge Center, 3rd Floor, Tuskegee, AL 36088-1920. Tuskegee University is a small university located in Tuskegee, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,973 students and an admission rate of 59%. Tuskegee University has 2 areas of study related to Cost Analyst. They are:
- Mechanical Engineering, bachelor's degree and master's degree which graduated one and eleven students respectively in 2008.
- Business Administration and Management, bachelor's degree which graduated 1 student in 2008.
Huntingdon College - Montgomery, AL
Huntingdon College, 1500 East Fairview Avenue, Montgomery, AL 36106-2148. Huntingdon College is a small college located in Montgomery, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,076 students and an admission rate of 65%. Huntingdon College has 2 areas of study related to Cost Analyst. They are:
- Business/Commerce, bachelor's degree which graduated 1 student in 2008.
- Business Administration and Management, bachelor's degree which graduated 10 students in 2008.
Community College of the Air Force - Montgomery, AL
Community College of the Air Force, 130 W Maxwell Blvd, Montgomery, AL 36112-6613. college located in Montgomery, Alabama. It is a public school with primarily 2-year programs and has 321,775 students. Community College of the Air Force has an associate's degree program in Construction Engineering Technology/Technician which graduated 254 students in 2008.
Auburn University-Montgomery - Montgomery, AL
Auburn University-Montgomery, 7440 East Drive, Montgomery, AL 36117-3596. Auburn University-Montgomery is a medium sized university located in Montgomery, Alabama. It is a public school with primarily 4-year or above programs. It has 5,248 students and an admission rate of 91%. Auburn University-Montgomery has 2 areas of study related to Cost Analyst. They are:
- Business/Commerce, bachelor's degree and master's degree which graduated one and fifty-eight students respectively in 2008.
- Business Administration and Management, bachelor's degree which graduated 2 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: Montgomery, Alabama
Montgomery is situated in Montgomery County, Alabama. It has a population of over 202,696, which has grown by 0.6% over the last ten years. The cost of living index in Montgomery, 83, is well below the national average. New single-family homes in Montgomery are valued at $129,500 on average, which is well below the state average. In 2008, two hundred seventy-eight new homes were built in Montgomery, down from six hundred nineteen the previous year.
The three most popular industries for women in Montgomery are health care, educational services, and public administration. For men, it is public administration, construction, and educational services. The average travel time to work is about 20 minutes. More than 29.4% of Montgomery residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 11.3%, is higher than the state average.
The unemployment rate in Montgomery is 10.1%, which is less than Alabama's average of 10.7%.
The percentage of Montgomery residents that are affiliated with a religious congregation, 50.6%, is more than the national average but less than the state average. Big Roxanna Church, William African Methodist Episcopal Zion Chapel and Whitfield Memorial United Methodist Church are some of the churches located in Montgomery. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Churches of Christ.
Montgomery is home to the Montgomery Public Library and the Booker T Washington Community Center as well as Old Selma Road Park and Montgomery East Exchange Park. Shopping centers in the area include Montgomery East Plaza Shopping Center, Montgomery Mall Shopping Center and Norman Bridge South Shopping Center. Visitors to Montgomery can choose from Relax Inn, Islander and Towne Place Suites by Marriott for temporary stays in the area.