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Career and Education Opportunities for Cost Analysts in Wichita, Kansas

Wichita, Kansas provides a wide variety of opportunities, both career and educational, for cost analysts. The national trend for cost analysts 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 $24 per hour or $51,660 yearly on average in Kansas. Nationally they average about $27 per hour or $56,510 annually. Cost analysts earn less than people working in the category of Adjustment and Analysis generally in Kansas and more than people in the Adjustment and Analysis category nationally. Cost analysts work in a variety of jobs, including: environmental marketing specialist, design consultant, and estimator.

The Wichita area is home to nineteen schools of higher education, including ten within twenty-five miles of Wichita where you can get a degree as a cost analyst. Cost analysts usually hold a Bachelor's degree, so you can expect to spend about four years studying 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 Wichita 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.
  • 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

Newman University - Wichita, KS

Newman University, 3100 McCormick Ave, Wichita, KS 67213-2097. Newman University is a small university located in Wichita, Kansas. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,435 students and an admission rate of 49%. Newman University has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated zero, five, and forty students respectively in 2008.

Hesston College - Hesston, KS

Hesston College, 301 South Main, Hesston, KS 67062-2093. Hesston College is a small college located in Hesston, Kansas. It is a private not-for-profit school with primarily 2-year programs and has 425 students. Hesston College has an associate's degree program in Business/Commerce which graduated one student in 2008.

National American University-Wichita - Wichita, KS

National American University-Wichita, 7309 E 21st St. N. Suite G40, Wichita, KS 67206. National American University-Wichita is a small university located in Wichita, Kansas. It is a private for-profit school with primarily 4-year or above programs and has 134 students. National American University-Wichita has an associate's degree and a bachelor's degree program in Business Administration and Management.

Wichita State University - Wichita, KS

Wichita State University, 1845 Fairmount, Wichita, KS 67260-0124. Wichita State University is a large university located in Wichita, Kansas. It is a public school with primarily 4-year or above programs. It has 14,405 students and an admission rate of 86%. Wichita State University has 3 areas of study related to Cost Analyst. They are:

  • Mechanical Engineering, bachelor's degree, master's degree, and doctor's degree which graduated forty-one, twenty-six, and zero students respectively in 2008.
  • Manufacturing Engineering, bachelor's degree which graduated 1 student in 2008.
  • Business Administration and Management, bachelor's degree and master's degree which graduated one and sixty-one students respectively in 2008.

Butler Community College - El Dorado, KS

Butler Community College, 901 S Haverhill Rd, El Dorado, KS 67042-3280. Butler Community College is a medium sized college located in El Dorado, Kansas. It is a public school with primarily 2-year programs and has 8,190 students. Butler Community College has an associate's degree program in Business/Commerce.

Friends University - Wichita, KS

Friends University, 2100 W. University Ave., Wichita, KS 67213. Friends University is a small university located in Wichita, Kansas. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,801 students and an admission rate of 70%. Friends University has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, associate's degree which graduated 3 students in 2008.
  • Business Administration and Management, bachelor's degree and master's degree which graduated zero and fifty-five students respectively in 2008.

University of Phoenix-Wichita Campus - Wichita, KS

University of Phoenix-Wichita Campus, 3020 N. Cypress Drive, Suite 150, Wichita, KS 67226-4011. University of Phoenix-Wichita Campus is a small university located in Wichita, Kansas. It is a private for-profit school with primarily 4-year or above programs and has 122 students. University of Phoenix-Wichita Campus has a bachelor's degree and a master's degree program in Business Administration and Management which graduated twelve and nineteen students respectively in 2008.

Hutchinson Community College - Hutchinson, KS

Hutchinson Community College, 1300 N Plum St, Hutchinson, KS 67501. Hutchinson Community College is a small college located in Hutchinson, Kansas. It is a public school with primarily 2-year programs and has 4,853 students. Hutchinson Community College has an associate's degree program in Business/Commerce which graduated fifty-six students in 2008.

Southwestern College - Winfield, KS

Southwestern College, 100 College St, Winfield, KS 67156-6224. Southwestern College is a small college located in Winfield, Kansas. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,800 students and an admission rate of 90%. Southwestern College has a bachelor's degree and a master's degree program in Business Administration and Management which graduated four and forty-eight students respectively in 2008.

Bethel College - North Newton, KS

Bethel College, 300 E 27th St, North Newton, KS 67117-0531. Bethel College is a small college located in North Newton, Kansas. It is a private not-for-profit school with primarily 4-year or above programs. It has 501 students and an admission rate of 75%. Bethel College has a bachelor's degree program in Business/Commerce.

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: Wichita, Kansas

Wichita, Kansas
Wichita, Kansas photo by Pacoperez6

Wichita is located in Sedgwick County, Kansas. It has a population of over 366,046, which has grown by 6.3% over the last ten years. The cost of living index in Wichita, 78, is well below the national average. New single-family homes in Wichita cost $106,900 on average, which is far less than the state average. In 2008, 1,012 new homes were constructed in Wichita, down from 1,248 the previous year.

The three most popular industries for women in Wichita are health care, educational services, and accommodation and food services. For men, it is transportation equipment, construction, and health care. The average travel time to work is about 18 minutes. More than 25.3% of Wichita residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 8.1%, is lower than the state average.

The unemployment rate in Wichita is 8.8%, which is greater than Kansas's average of 6.3%.

The percentage of Wichita residents that are affiliated with a religious congregation, 46.7%, is less than both the national and state average. Mizpah Baptist Church, Christ the King Lutheran Church and Christ the King Roman Catholic Church are some of the churches located in Wichita. The largest religious groups are the Catholic Church, the Southern Baptist Convention and the United Methodist Church.

Wichita is home to the Pleasant Valley and the Wichita Plaza as well as Hyde Park and Watson Park. Shopping centers in the area include Central Heights Shopping Mall, Airpark Shopping Center and Sweetbriar Shopping Center. Visitors to Wichita can choose from Afton Motel, Hampton Inn Wichita-East and Corral Motel for temporary stays in the area.