Career and Education Opportunities for Cost Analysts in Palm Bay, Florida
If you want to be a cost analyst, the Palm Bay, Florida area offers many opportunities both for education and employment. About 12,770 people are currently employed as cost analysts in Florida. By 2016, this is expected to grow 29% to about 16,410 people employed. This is better than 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.
The income of a cost analyst is about $25 per hour or $54,040 per year on average in Florida. In the U.S. as a whole, their income is about $27 hourly or $56,510 per year on average. Incomes for cost analysts are better than in the overall category of Adjustment and Analysis in Florida, and better than the overall Adjustment and Analysis category nationally. Jobs in this field include: cost recovery/investment recovery technician, estimator project manager, and construction job cost estimator.
There are five schools of higher education in the Palm Bay area, including three within twenty-five miles of Palm Bay where you can get a degree to start your career as a cost analyst. Cost analysts usually hold a Bachelor's degree, so 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
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 Palm Bay 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.
EDUCATIONAL OPPORTUNITIES: Cost Analyst Training
Florida Institute of Technology - Melbourne, FL
Florida Institute of Technology, 150 West University Boulevard, Melbourne, FL 32901-6975. Florida Institute of Technology is a medium sized school located in Melbourne, Florida. It is a private not-for-profit school with primarily 4-year or above programs. It has 7,050 students and an admission rate of 82%. Florida Institute of Technology has 2 areas of study related to Cost Analyst. They are:
- Mechanical Engineering, bachelor's degree, master's degree, and doctor's degree which graduated thirty-four, fifteen, and two students respectively in 2008.
- Business Administration and Management, bachelor's degree and master's degree which graduated two and 121 students respectively in 2008.
Brevard Community College - Cocoa, FL
Brevard Community College, 1519 Clearlake Rd, Cocoa, FL 32922. Brevard Community College is a large college located in Cocoa, Florida. It is a public school with primarily 2-year programs and has 15,607 students. Brevard Community College has an associate's degree program in Business Administration and Management which graduated twenty students in 2008.
Everest University-Melbourne - Melbourne, FL
Everest University-Melbourne, 2401 N Harbor City Blvd, Melbourne, FL 32935. Everest University-Melbourne is a small university located in Melbourne, Florida. It is a private for-profit school with primarily 4-year or above programs. It has 375 students and an admission rate of 8%. Everest University-Melbourne has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated twenty, thirteen, and twenty-one 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: Palm Bay, Florida
Palm Bay is located in Brevard County, Florida. It has a population of over 100,786, which has grown by 26.9% in the past ten years. The cost of living index in Palm Bay, 83, is well below the national average. New single-family homes in Palm Bay are priced at $195,600 on average, which is far less than the state average. In 2008, three hundred ninety-two new homes were built in Palm Bay, down from seven hundred thirty-nine the previous year.
The top three industries for women in Palm Bay are health care, educational services, and accommodation and food services. For men, it is construction, computer and electronic products, and accommodation and food services. The average commute to work is about 26 minutes. More than 16.7% of Palm Bay residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.9%, is lower than the state average.
The unemployment rate in Palm Bay is 11.9%, which is greater than Florida's average of 11.3%.
The percentage of Palm Bay residents that are affiliated with a religious congregation, 39.2%, is less than both the national and state average. The most common religious groups are the Catholic Church, the Southern Baptist Convention and the United Methodist Church.
Palm Bay is home to the Country Club Plaza and the Port Malabar Plaza. Shopping malls in the area include Palm Bay Shopping Center and Port Malabar Shopping Center. Visitors to Palm Bay can choose from Bay Breeze Restaurant and Bleachers Sports Bar & Grill for temporary stays in the area.