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Career and Education Opportunities for Cost Analysts in Dover, Delaware

Cost analysts can find both educational opportunities and jobs in the Dover, Delaware area. There are currently 990 working cost analysts in Delaware; this should grow by 20% to 1,190 working cost analysts in the state by 2016. This is not quite as good as the national trend for cost analysts, which sees this job pool growing by about 25.3% over the next eight years. 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.

The income of a cost analyst is about $26 hourly or $54,120 annually on average in Delaware. In the U.S. as a whole, their income is about $27 hourly or $56,510 yearly on average. Cost analysts earn more than people working in the category of Adjustment and Analysis generally in Delaware and more than people in the Adjustment and Analysis category nationally. Cost analysts work in a variety of jobs, including: building construction estimator, design consultant, and cost estimator.

The Dover area is home to seven schools of higher education, including five within twenty-five miles of Dover where you can get a degree as a cost analyst. The most common level of education for cost analysts is a Bachelor's degree. It will take about four years to learn to be a cost analyst if you already have a high school diploma.

CAREER DESCRIPTION: Cost Analyst

Cost Analyst video from the State of New Jersey Dept. of Labor and Workforce Development

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 Dover 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.
  • 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.
  • 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

Washington College - Chestertown, MD

Washington College, 300 Washington Ave, Chestertown, MD 21620-1438. Washington College is a small college located in Chestertown, Maryland. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,402 students and an admission rate of 69%. Washington College has a bachelor's degree program in Business Administration and Management which graduated forty-four students in 2008.

Wesley College - Dover, DE

Wesley College, 120 N State St, Dover, DE 19901-3875. Wesley College is a small college located in Dover, Delaware. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,290 students and an admission rate of 77%. Wesley College has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated twenty-four, ninety, and twenty-nine students respectively in 2008.

Delaware Technical and Community College-Terry - Dover, DE

Delaware Technical and Community College-Terry, 100 Campus Drive, Dover, DE 19901. Delaware Technical and Community College-Terry is a small college located in Dover, Delaware. It is a public school with primarily 2-year programs and has 3,319 students. Delaware Technical and Community College-Terry has 3 areas of study related to Cost Analyst. They are:

  • Construction Engineering Technology/Technician, associate's degree.
  • Business/Commerce, one to two year and associate's degree which graduated one and thirteen students respectively in 2008.
  • Business Administration and Management, less than one year.

Cumberland County College - Vineland, NJ

Cumberland County College, 3322 College Drive, Vineland, NJ 08362-1500. Cumberland County College is a small college located in Vineland, New Jersey. It is a public school with primarily 2-year programs and has 3,822 students. Cumberland County College has a one to two year and an associate's degree program in Business Administration and Management which graduated two and fifteen students respectively in 2008.

Delaware State University - Dover, DE

Delaware State University, 1200 N. Dupont Highway, Dover, DE 19901. Delaware State University is a small university located in Dover, Delaware. It is a public school with primarily 4-year or above programs. It has 3,531 students and an admission rate of 56%. Delaware State University has a bachelor's degree and a master's degree program in Business Administration and Management which graduated fifty-nine and forty-seven students respectively in 2008.

CERTIFICATIONS

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: Dover, Delaware

Dover, Delaware
Dover, Delaware photo by Malepheasant

Dover is situated in Kent County, Delaware. It has a population of over 36,107, which has grown by 12.4% over the last ten years. The cost of living index in Dover, 85, is well below the national average. New single-family homes in Dover are priced at $116,700 on average, which is above the state average. In 2008, one hundred twenty-nine new homes were built in Dover, down from one hundred eighty-nine the previous year.

The three most popular industries for women in Dover are educational services, health care, and public administration. For men, it is public administration, educational services, and construction. The average commute to work is about 19 minutes. More than 28.8% of Dover residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 11.3%, is higher than the state average.

The unemployment rate in Dover is 9.4%, which is greater than Delaware's average of 8.5%. About 13.8% of Dover's residents are below the poverty line, which is worse than the state average.

The percentage of Dover residents that are affiliated with a religious congregation, 32.1%, is less than both the national and state average. Saint Andrews Lutheran Church, Beth Shalom Congregation and Bethuel Seventh Day Adventist Church are among the churches located in Dover. The most prominent religious groups are the Catholic Church, the United Methodist Church and the Presbyterian Church (USA).

Dover is home to the Kent Swim Club and the Transportation Administration Center as well as Eden Hill and Richardson Park. Shopping malls in the area include Blue Hen Mall and Dover Mall. Visitors to Dover can choose from Inn at Meeting House Square, Little Creek Inn and Ramada Inn for temporary stays in the area.