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Career and Education Opportunities for Cost Analysts in Indiana

Indiana has a population of 6,423,113, which has grown by 5.63% over the past decade. Nicknamed the "Hoosier State," Indiana's capital and largest city is Indianapolis.

About 5,010 people are currently employed as cost analysts in Indiana. By 2016, this is expected to grow by 15% to 5,770 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 $25 hourly or $53,810 annually on average in Indiana and about $27 per hour or $56,510 annually on average nationally. Incomes for cost analysts are better than in the overall category of Adjustment and Analysis in Indiana, and better than the overall Adjustment and Analysis category nationally. Jobs in this field include: estimator project manager, cost estimator, and operations manager.

In 2008, there were a total of 3,718,148 jobs in Indiana. The average annual income was $34,543 in 2008, up from $33,702 in 2007. The unemployment rate in Indiana was 10.1% in 2009, which has grown by 4.3% since the previous year. About 19.4% of Indiana residents have college degrees, which is lower than the national average.

The top industries in Indiana include manufacturing, primary metal manufacturing, and iron mills manufacturing.

CITIES WITH Cost Analyst OPPORTUNITIES IN Indiana


JOB 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.

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.

Similar jobs with educational opportunities in Indiana 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.
  • 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.

LOCATION INFORMATION: Indiana

Indiana
Indiana photo by Jasssmit

Indiana has a population of 6,423,113, which has grown by 5.63% over the past decade. Nicknamed the "Hoosier State," Indiana's capital and most populous city is Indianapolis. In 2008, there were a total of 3,718,148 jobs in Indiana. The average annual income was $34,543 in 2008, up from $33,702 the previous year. The unemployment rate in Indiana was 10.1% in 2009, which has grown by 4.3% since the previous year. Roughly 19.4% of Indiana residents have college degrees, which is lower than the national average.

The top industries in Indiana include manufacturing, primary metal manufacturing, and iron mills manufacturing.