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Career and Education Opportunities for Cost Analysts in Portland, Maine

There are many career and education opportunities for cost analysts in the Portland, Maine area. Currently, 750 people work as cost analysts in Maine. This is expected to grow 14% to 850 people 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. 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.

Income for cost analysts is about $22 hourly or $46,900 per year on average in Maine. Nationally, their income is about $27 hourly or $56,510 per year. Compared with people working in the overall category of Adjustment and Analysis, people working as cost analysts in Maine earn less. They earn more than people working in the overall category of Adjustment and Analysis nationally. People working as cost analysts can fill a number of jobs, such as: production cost estimator, environmental marketing specialist, and design consultant.

The Portland area is home to twenty-three schools of higher education, including ten within twenty-five miles of Portland 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 training to become 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 Portland 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.
  • License Examiner. Examine, evaluate, and investigate eligibility for, conformity with, or liability under licenses or permits.
  • 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

University of Maine at Augusta - Augusta, ME

University of Maine at Augusta, 46 University Dr, Augusta, ME 04330-9410. University of Maine at Augusta is a small university located in Augusta, Maine. It is a public school with primarily 4-year or above programs and has 4,731 students. University of Maine at Augusta has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated thirty-five and forty-two students respectively in 2008.

Landing School of Boat Building and Design - Arundel, ME

Landing School of Boat Building and Design, 286 River Rd, Arundel, ME 04046-1490. Landing School of Boat Building and Design is a small school located in Arundel, Maine. It is a private not-for-profit school with primarily less-than 2-year programs. It has 72 students and an admission rate of 94%. Landing School of Boat Building and Design has a one to two year program in Materials Engineering which graduated six students in 2008.

Southern Maine Community College - South Portland, ME

Southern Maine Community College, 2 Fort Road, South Portland, ME 04106-1698. Southern Maine Community College is a medium sized college located in South Portland, Maine. It is a public school with primarily 2-year programs. It has 5,654 students and an admission rate of 68%. Southern Maine Community College has less than one year, one to two year, and associate's degree programs in Business Administration and Management which graduated four, zero, and sixty-two students respectively in 2008.

University of Maine at Farmington - Farmington, ME

University of Maine at Farmington, 224 Main St, Farmington, ME 04938-9978. University of Maine at Farmington is a small university located in Farmington, Maine. It is a public school with primarily 4-year or above programs. It has 2,191 students and an admission rate of 68%. University of Maine at Farmington has a bachelor's degree program in Business/Commerce which graduated one student in 2008.

Andover College - S Portland, ME

Andover College, 265 Western Ave, S Portland, ME 04106-2415. Andover College is a small college located in S Portland, Maine. It is a private for-profit school with primarily 2-year programs and has 1,326 students. Andover College has an associate's degree program in Business Administration and Management which graduated seventy-three students in 2008.

Saint Joseph's College of Maine - Standish, ME

Saint Joseph's College of Maine, 278 Whites Bridge Rd, Standish, ME 04084-5236. Saint Joseph's College of Maine is a small college located in Standish, Maine. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,771 students and an admission rate of 78%. Saint Joseph's College of Maine has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated three, two, and five students respectively in 2008.

University of New England - Biddeford, ME

University of New England, 11 Hills Beach Rd, Biddeford, ME 04005. University of New England is a small university located in Biddeford, Maine. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,939 students and an admission rate of 78%. University of New England has a bachelor's degree program in Business Administration and Management which graduated nine students in 2008.

University of Southern Maine - Portland, ME

University of Southern Maine, 96 Falmouth St, Portland, ME 04103. University of Southern Maine is a large university located in Portland, Maine. It is a public school with primarily 4-year or above programs. It has 9,930 students and an admission rate of 82%. University of Southern Maine has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated zero, zero, and forty students respectively in 2008.

Central Maine Community College - Auburn, ME

Central Maine Community College, 1250 Turner Street, Auburn, ME 04210-6498. Central Maine Community College is a small college located in Auburn, Maine. It is a public school with primarily 2-year programs and has 2,426 students. Central Maine Community College has 2 areas of study related to Cost Analyst. They are:

  • Construction Engineering Technology/Technician, one to two year and associate's degree which graduated zero and four students respectively in 2008.
  • Business Administration and Management, one to two year and associate's degree which graduated zero and forty-three students respectively in 2008.

York County Community College - Wells, ME

York County Community College, 112 College Drive, Wells, ME 04090. York County Community College is a small college located in Wells, Maine. It is a public school with primarily 2-year programs and has 1,074 students. York County Community College has an associate's degree program in Business Administration and Management which graduated thirteen 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.

LOCATION INFORMATION: Portland, Maine

Portland, Maine
Portland, Maine photo by Pauk

Portland is situated in Cumberland County, Maine. It has a population of over 62,561, which has shrunk by 2.6% over the last ten years. The cost of living index in Portland, 102, is above the national average. New single-family homes in Portland are priced at $164,700 on average, which is well below the state average. In 2008, twenty-three new homes were built in Portland, down from thirty-two the previous year.

The three most popular industries for women in Portland are health care, educational services, and finance and insurance. For men, it is professional, scientific, and technical services, accommodation and food services, and construction. The average commute to work is about 19 minutes. More than 36.4% of Portland residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.0%, is higher than the state average.

The unemployment rate in Portland is 6.3%, which is less than Maine's average of 7.6%. About 14.1% of Portland's residents are below the poverty line, which is worse than the state average.

The percentage of Portland residents that are affiliated with a religious congregation, 40.4%, is less than the national average but more than the state average. Mariners Church, Swedenborgian Church and Stroudwater Christian Church are among the churches located in Portland. The most prominent religious groups are the Catholic Church, the United Church of Christ and the United Methodist Church.

Portland is home to the Cumberland Wharf and the Browns Wharf as well as Longfellow Square and Hadlock Field. Shopping centers in the area include Mill Creek Shopping Center, Monument Square Shopping Center and Portland East Shopping Center. Visitors to Portland can choose from Motel 6, Fairfield Inn Portland Airport and Ramada Limited Portland for temporary stays in the area.