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Career and Education Opportunities for Cost Analysts in Cedar Rapids, Iowa

Cost analysts can find both educational opportunities and jobs in the Cedar Rapids, Iowa area. About 2,110 people are currently employed as cost analysts in Iowa. By 2016, this is expected to grow 23% to about 2,590 people employed. 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.

Cost analysts earn approximately $23 hourly or $48,510 annually on average in Iowa. Nationally they average about $27 per hour or $56,510 annually. Incomes for cost analysts are better than in the overall category of Adjustment and Analysis in Iowa, and better than the overall Adjustment and Analysis category nationally. People working as cost analysts can fill a number of jobs, such as: design consultant, crating and moving estimator, and construction estimator.

There are five schools within twenty-five miles of Cedar Rapids where you can study to be a cost analyst, among thirteen schools of higher education total in the Cedar Rapids area. Given that the most common education level 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 Cedar Rapids 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.
  • 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.
  • 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.

EDUCATIONAL OPPORTUNITIES: Cost Analyst Training

Coe College - Cedar Rapids, IA

Coe College, 1220 First Ave NE, Cedar Rapids, IA 52402-5092. Coe College is a small college located in Cedar Rapids, Iowa. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,326 students and an admission rate of 63%. Coe College has a bachelor's degree program in Business Administration and Management which graduated twenty-nine students in 2008.

Kirkwood Community College - Cedar Rapids, IA

Kirkwood Community College, 6301 Kirkwood Blvd SW, Cedar Rapids, IA 52406-2068. Kirkwood Community College is a large college located in Cedar Rapids, Iowa. It is a public school with primarily 2-year programs and has 15,241 students. Kirkwood Community College has less than one year, one to two year, and associate's degree programs in Business Administration and Management which graduated nineteen, three, and thirty-six students respectively in 2008.

Kaplan University-Cedar Rapids Campus - Cedar Rapids, IA

Kaplan University-Cedar Rapids Campus, 3165 Edgewood Parkway SW, Cedar Rapids, IA 52404. Kaplan University-Cedar Rapids Campus is a small university located in Cedar Rapids, Iowa. It is a private for-profit school with primarily 4-year or above programs and has 594 students. Kaplan University-Cedar Rapids Campus has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated twenty-seven and sixty-two students respectively in 2008.

University of Iowa - Iowa City, IA

University of Iowa, 101 Jessup Hall, Iowa City, IA 52242-1316. University of Iowa is a large university located in Iowa City, Iowa. It is a public school with primarily 4-year or above programs. It has 29,475 students and an admission rate of 82%. University of Iowa has 3 areas of study related to Cost Analyst. They are:

  • Materials Engineering, master's degree and doctor's degree.
  • Mechanical Engineering, bachelor's degree, master's degree, and doctor's degree which graduated sixty-eight, eleven, and five students respectively in 2008.
  • Business Administration and Management, master's degree and doctor's degree which graduated 289 and eleven students respectively in 2008.

Mount Mercy College - Cedar Rapids, IA

Mount Mercy College, 1330 Elmhurst Dr NE, Cedar Rapids, IA 52402-4797. Mount Mercy College is a small college located in Cedar Rapids, Iowa. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,555 students and an admission rate of 80%. Mount Mercy College has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, bachelor's degree.
  • Business Administration and Management, bachelor's degree which graduated 7 students 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.

LICENSES

Asbestos Project Designer

Licensing agency: Asbestos Abatement Licensing
Address: Labor Services Division, Iowa Workforce Development Des Moines, IA 50319-0209

Phone: (515) 281-6175
Website: Asbestos Abatement Licensing Labor Services Division Iowa Workforce Development

LOCATION INFORMATION: Cedar Rapids, Iowa

Cedar Rapids, Iowa
Cedar Rapids, Iowa photo by Davumaya

Cedar Rapids is located in Linn County, Iowa. It has a population of over 128,056, which has grown by 6.0% over the last ten years. The cost of living index in Cedar Rapids, 78, is well below the national average. New single-family homes in Cedar Rapids are valued at $103,900 on average, which is far less than the state average. In 2008, two hundred ninety-nine new homes were built in Cedar Rapids, up from two hundred ninety-eight the previous year.

The three big industries for women in Cedar Rapids are health care, educational services, and finance and insurance. For men, it is construction, professional, scientific, and technical services, and accommodation and food services. The average commute to work is about 17 minutes. More than 28.4% of Cedar Rapids residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.4%, is lower than the state average.

The unemployment rate in Cedar Rapids is 6.0%, which is less than Iowa's average of 6.1%.

The percentage of Cedar Rapids residents that are affiliated with a religious congregation, 57.0%, is more than the national average but less than the state average. Seventh Day Church of God, Sevanth-Day Adventist Church and Hope Lutheran Church are some of the churches located in Cedar Rapids. The largest religious groups are the Catholic Church, the United Methodist Church and the Evangelical Lutheran Church in America.

Cedar Rapids is home to the Brucemore and the Admissions Office as well as Tomahawk Park and Noelridge Park. Shopping centers in the area include Mays Shopping Center, Lindale Plaza Shopping Center and Town and Country Shopping Center. Visitors to Cedar Rapids can choose from Howard Johnson, Marriott Cedar Rapids and Clarion Hotel & Convention Center for temporary stays in the area.