Career and Education Opportunities for Cost Analysts in Little Rock, Arkansas
Cost analysts can find many career and educational opportunities in the Little Rock, Arkansas area. There are currently 960 jobs for cost analysts in Arkansas and this is projected to grow by 23% to 1,180 jobs by 2016. 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 approximately $23 hourly or $49,130 yearly on average in Arkansas. Nationally they average about $27 hourly or $56,510 per year. Earnings for cost analysts are better than earnings in the general category of Adjustment and Analysis in Arkansas and better than general Adjustment and Analysis category earnings nationally. Jobs in this field include: construction estimator, estimator project manager, and job cost estimator.
The Little Rock area is home to twenty-five schools of higher education, including eight within twenty-five miles of Little Rock 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 training to become 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 Little Rock 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.
- Insurance Adjuster. Investigate, analyze, and determine the extent of insurance company's liability concerning personal, casualty, or property loss or damages, and attempt to effect settlement with claimants. Correspond with or interview medical specialists, agents, or claimants to compile information. Calculate benefit payments and approve payment of claims within a certain monetary limit.
- Insurance Appraiser. Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.
- Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
- 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
University of Arkansas Community College-Morrilton - Morrilton, AR
University of Arkansas Community College-Morrilton, 1537 University Blvd., Morrilton, AR 72110. University of Arkansas Community College-Morrilton is a small university located in Morrilton, Arkansas. It is a public school with primarily 2-year programs and has 1,955 students. University of Arkansas Community College-Morrilton has a one to two year and an associate's degree program in Business/Commerce which graduated three and fifteen students respectively in 2008.
Arkansas Baptist College - Little Rock, AR
Arkansas Baptist College, 1621 Dr. Marting Luther King Drive, Little Rock, AR 72202-6099. Arkansas Baptist College is a small college located in Little Rock, Arkansas. It is a private not-for-profit school with primarily 4-year or above programs and has 622 students. Arkansas Baptist College has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated twelve and four students respectively in 2008.
University of Arkansas at Little Rock - Little Rock, AR
University of Arkansas at Little Rock, 2801 S University Ave, Little Rock, AR 72204. University of Arkansas at Little Rock is a large university located in Little Rock, Arkansas. It is a public school with primarily 4-year or above programs and has 11,694 students. University of Arkansas at Little Rock has 2 areas of study related to Cost Analyst. They are:
- Construction Engineering Technology/Technician, bachelor's degree which graduated 42 students in 2008.
- Business Administration and Management, bachelor's degree, postbaccalaureate certificate, and master's degree which graduated sixty-eight, fifteen, and seventy-nine students respectively in 2008.
Ouachita Technical College - Malvern, AR
Ouachita Technical College, One College Cir, Malvern, AR 72104-0816. Ouachita Technical College is a small college located in Malvern, Arkansas. It is a public school with primarily 2-year programs and has 1,600 students. Ouachita Technical College has an associate's degree program in Business Administration and Management which graduated four students in 2008.
Philander Smith College - Little Rock, AR
Philander Smith College, One Trudie Kibbe Reed Drive, Little Rock, AR 72202-3799. Philander Smith College is a small college located in Little Rock, Arkansas. It is a private not-for-profit school with primarily 4-year or above programs. It has 584 students and an admission rate of 91%. Philander Smith College has a bachelor's degree program in Business Administration and Management which graduated twenty-one students in 2008.
University of Central Arkansas - Conway, AR
University of Central Arkansas, 201 Donaghey Ave, Conway, AR 72035-0001. University of Central Arkansas is a large university located in Conway, Arkansas. It is a public school with primarily 4-year or above programs. It has 12,961 students and an admission rate of 49%. University of Central Arkansas has 2 areas of study related to Cost Analyst. They are:
- Business/Commerce, bachelor's degree and postbaccalaureate certificate which graduated one and zero students respectively in 2008.
- Business Administration and Management, associate's degree, bachelor's degree, and master's degree which graduated four, fifty-seven, and thirty students respectively in 2008.
Arkansas State University-Beebe - Beebe, AR
Arkansas State University-Beebe, 1000 Iowa Street, Beebe, AR 72012-1000. Arkansas State University-Beebe is a small university located in Beebe, Arkansas. It is a public school with primarily 2-year programs and has 4,458 students. Arkansas State University-Beebe has an associate's degree program in Business/Commerce which graduated eight students in 2008.
University of Phoenix-Little Rock Campus - Little Rock, AR
University of Phoenix-Little Rock Campus, 10800 Financial Centre Parkway, Little Rock, AR 72211-3500. University of Phoenix-Little Rock Campus is a small university located in Little Rock, Arkansas. It is a private for-profit school with primarily 4-year or above programs and has 461 students. University of Phoenix-Little Rock Campus has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated one, twenty-six, and forty-two students respectively 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: Little Rock, Arkansas
Little Rock is located in Pulaski County, Arkansas. It has a population of over 189,515, which has grown by 3.5% in the past ten years. The cost of living index in Little Rock, 87, is well below the national average. New single-family homes in Little Rock cost $236,400 on average, which is far greater than the state average. In 2008, three hundred sixty-one new homes were built in Little Rock, down from seven hundred thirty-one the previous year.
The top three industries for women in Little Rock are health care, educational services, and public administration. For men, it is health care, professional, scientific, and technical services, and construction. The average commute to work is about 20 minutes. More than 35.5% of Little Rock residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.4%, is higher than the state average.
The unemployment rate in Little Rock is 6.1%, which is less than Arkansas's average of 6.9%.
The percentage of Little Rock residents that are affiliated with a religious congregation, 59.1%, is more than both the national and state average. Macedonia Spiritual Church, Baseline Christian Church and Baseline Missionary Baptist Church are all churches located in Little Rock. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.
Little Rock is home to the Rock Creek Golf Course and the Barton Coliseum as well as McArthur Park Historic District and Meriwether Park. Shopping malls in the area include Mainstreet Market Shopping Center, Market Street Plaza Shopping Center and Markham Plaza Shopping Center. Visitors to Little Rock can choose from LA Quinta - Inns- Medical Center Area, Hampton Inn & Suites and Acme Motel for temporary stays in the area.