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Career and Education Opportunities for Cost Analysts in Detroit, Michigan

Cost analysts can find many career and educational opportunities in the Detroit, Michigan area. There are currently 8,600 jobs for cost analysts in Michigan and this is projected to grow by 14% to 9,790 jobs 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 $29 per hour or $60,430 yearly on average in Michigan. Nationally, their income is about $27 per hour or $56,510 yearly. Earnings for cost analysts are better than earnings in the general category of Adjustment and Analysis in Michigan and better than general Adjustment and Analysis category earnings nationally. Cost analysts work in a variety of jobs, including: design consultant, construction job cost estimator, and procurement technician.

There are seventy-three schools of higher education in the Detroit area, including twenty-five within twenty-five miles of Detroit where you can get a degree to start your career 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 Detroit 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

Henry Ford Community College - Dearborn, MI

Henry Ford Community College, 5101 Evergreen Rd, Dearborn, MI 48128-1495. Henry Ford Community College is a large college located in Dearborn, Michigan. It is a public school with primarily 2-year programs and has 15,571 students. Henry Ford Community College has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, associate's degree which graduated 58 students in 2008.
  • Business Administration and Management, associate's degree which graduated 88 students in 2008.

University of Michigan-Dearborn - Dearborn, MI

University of Michigan-Dearborn, 4901 Evergreen Rd, Dearborn, MI 48128-1491. University of Michigan-Dearborn is a medium sized university located in Dearborn, Michigan. It is a public school with primarily 4-year or above programs. It has 8,311 students and an admission rate of 61%. University of Michigan-Dearborn has 3 areas of study related to Cost Analyst. They are:

  • Mechanical Engineering, bachelor's degree and master's degree which graduated seventy and seventy-six students respectively in 2008.
  • Manufacturing Engineering, bachelor's degree and master's degree which graduated one and two students respectively in 2008.
  • Business Administration and Management, bachelor's degree and master's degree which graduated fifty-three and ninety-two students respectively in 2008.

Baker College of Allen Park - Allen Park, MI

Baker College of Allen Park, 4500 Enterprise Dr, Allen Park, MI 48101. Baker College of Allen Park is a small college located in Allen Park, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 2,548 students. Baker College of Allen Park has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated thirteen and eighteen students respectively in 2008.

Oakland Community College - Bloomfield Hills, MI

Oakland Community College, 2480 Opdyke Rd, Bloomfield Hills, MI 48304-2266. Oakland Community College is a large college located in Bloomfield Hills, Michigan. It is a public school with primarily 2-year programs and has 24,957 students. Oakland Community College has an associate's degree program in Business Administration and Management which graduated 211 students in 2008.

Concordia University-Ann Arbor - Ann Arbor, MI

Concordia University-Ann Arbor, 4090 Geddes Rd, Ann Arbor, MI 48105. Concordia University-Ann Arbor is a small university located in Ann Arbor, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 872 students and an admission rate of 63%. Concordia University-Ann Arbor has a bachelor's degree program in Business Administration and Management.

University of Phoenix-Metro Detroit Campus - Troy, MI

University of Phoenix-Metro Detroit Campus, 5480 Corporate Drive Suite 240, Troy, MI 48098-2623. University of Phoenix-Metro Detroit Campus is a small university located in Troy, Michigan. It is a private for-profit school with primarily 4-year or above programs and has 1,995 students. University of Phoenix-Metro Detroit Campus has a bachelor's degree and a master's degree program in Business Administration and Management which graduated 201 and 170 students respectively in 2008.

Schoolcraft College - Livonia, MI

Schoolcraft College, 18600 Haggerty Road, Livonia, MI 48152-2696. Schoolcraft College is a large college located in Livonia, Michigan. It is a public school with primarily 2-year programs and has 12,560 students. Schoolcraft College has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, one to two year and associate's degree which graduated eight and thirty-eight students respectively in 2008.
  • Business Administration and Management, associate's degree which graduated 121 students in 2008.

Oakland University - Rochester Hills, MI

Oakland University, , Rochester Hills, MI 48309-4401. Oakland University is a large university located in Rochester Hills, Michigan. It is a public school with primarily 4-year or above programs. It has 18,169 students and an admission rate of 78%. Oakland 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 sixty, forty-one, and nine students respectively in 2008.
  • Business/Commerce, bachelor's degree which graduated 79 students in 2008.
  • Business Administration and Management, master's degree which graduated 144 students in 2008.

Madonna University - Livonia, MI

Madonna University, 36600 Schoolcraft Rd, Livonia, MI 48150-1176. Madonna University is a small university located in Livonia, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,015 students and an admission rate of 76%. Madonna University has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, postbaccalaureate certificate.
  • Business Administration and Management, associate's degree, bachelor's degree, and master's degree.

University of Detroit Mercy - Detroit, MI

University of Detroit Mercy, 4001 W McNichols Rd, Detroit, MI 48221-3038. University of Detroit Mercy is a medium sized university located in Detroit, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,725 students and an admission rate of 64%. University of Detroit Mercy 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 twenty-seven, twelve, 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 zero and sixty-two students respectively in 2008.

Walsh College of Accountancy and Business Administration - Troy, MI

Walsh College of Accountancy and Business Administration, 3838 Livernois, Troy, MI 48083-5066. Walsh College of Accountancy and Business Administration is a small college located in Troy, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 3,109 students. Walsh College of Accountancy and Business Administration has bachelor's degree, master's degree, and doctor's degree programs in Business Administration and Management which graduated 298, 329, and zero students respectively in 2008.

ITT Technical Institute-Troy - Troy, MI

ITT Technical Institute-Troy, 1522 E Big Beaver Rd, Troy, MI 48083-1905. ITT Technical Institute-Troy is a small school located in Troy, Michigan. It is a private for-profit school with primarily 2-year programs. It has 1,350 students and an admission rate of 55%. ITT Technical Institute-Troy has an associate's degree program in Business Administration and Management which graduated one student in 2008.

Eastern Michigan University - Ypsilanti, MI

Eastern Michigan University, , Ypsilanti, MI 48197. Eastern Michigan University is a large university located in Ypsilanti, Michigan. It is a public school with primarily 4-year or above programs. It has 22,137 students and an admission rate of 75%. Eastern Michigan University has 3 areas of study related to Cost Analyst. They are:

  • Construction Engineering Technology/Technician, master's degree which graduated 7 students in 2008.
  • Business/Commerce, bachelor's degree which graduated 37 students in 2008.
  • Business Administration and Management, bachelor's degree, postbaccalaureate certificate, and master's degree which graduated two, ten, and sixty-eight students respectively in 2008.

Washtenaw Community College - Ann Arbor, MI

Washtenaw Community College, 4800 E Huron River Dr, Ann Arbor, MI 48105-4800. Washtenaw Community College is a large college located in Ann Arbor, Michigan. It is a public school with primarily 2-year programs and has 12,906 students. Washtenaw Community College has an associate's degree program in Business Administration and Management which graduated seventy students in 2008.

Lawrence Technological University - Southfield, MI

Lawrence Technological University, 21000 West Ten Mile Road, Southfield, MI 48075-1058. Lawrence Technological University is a small university located in Southfield, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,318 students and an admission rate of 60%. Lawrence Technological University has 5 areas of study related to Cost Analyst. They are:

  • Mechanical Engineering, bachelor's degree and master's degree which graduated ninety-one and forty-two students respectively in 2008.
  • Construction Engineering, master's degree which graduated 13 students in 2008.
  • Manufacturing Engineering, master's degree and doctor's degree which graduated nine and four students respectively in 2008.
  • Construction Engineering Technology/Technician, associate's degree which graduated 12 students in 2008.
  • Business Administration and Management, bachelor's degree, master's degree, and doctor's degree which graduated seventeen, 228, and three students respectively in 2008.

Rochester College - Rochester Hills, MI

Rochester College, 800 W Avon Rd, Rochester Hills, MI 48307. Rochester College is a small college located in Rochester Hills, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 883 students and an admission rate of 83%. Rochester College has a bachelor's degree program in Business Administration and Management which graduated thirty-six students in 2008.

Monroe County Community College - Monroe, MI

Monroe County Community College, 1555 South Raisinville Road, Monroe, MI 48161-9746. Monroe County Community College is a small college located in Monroe, Michigan. It is a public school with primarily 2-year programs and has 4,514 students. Monroe County Community College has 2 areas of study related to Cost Analyst. They are:

  • Construction Engineering Technology/Technician, associate's degree which graduated 12 students in 2008.
  • Business/Commerce, associate's degree which graduated 4 students in 2008.

Marygrove College - Detroit, MI

Marygrove College, 8425 W McNichols Rd, Detroit, MI 48221-2599. Marygrove College is a small college located in Detroit, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,879 students and an admission rate of 43%. Marygrove College has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated one and nine students respectively in 2008.

Wayne County Community College District - Detroit, MI

Wayne County Community College District, 801 W Fort St, Detroit, MI 48226. Wayne County Community College District is a large college located in Detroit, Michigan. It is a public school with primarily 2-year programs and has 21,540 students. Wayne County Community College District has an associate's degree program in Business Administration and Management which graduated seventy-three students in 2008.

University of Michigan-Ann Arbor - Ann Arbor, MI

University of Michigan-Ann Arbor, , Ann Arbor, MI 48109. University of Michigan-Ann Arbor is a large university located in Ann Arbor, Michigan. It is a public school with primarily 4-year or above programs. It has 40,618 students and an admission rate of 42%. University of Michigan-Ann Arbor 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 257, 140, and fifty-two students respectively in 2008.
  • Manufacturing Engineering, master's degree and doctor's degree which graduated nineteen and one students respectively in 2008.
  • Business Administration and Management, bachelor's degree, master's degree, and doctor's degree which graduated 361, 729, and fifteen students respectively in 2008.

ITT Technical Institute-Canton - Canton, MI

ITT Technical Institute-Canton, 1905 S. Haggerty Rd, Canton, MI 48188-2025. ITT Technical Institute-Canton is a small school located in Canton, Michigan. It is a private for-profit school with primarily 2-year programs. It has 1,113 students and an admission rate of 46%. ITT Technical Institute-Canton has a bachelor's degree program in Business Administration and Management.

Wayne State University - Detroit, MI

Wayne State University, 656 West Kirby Street, Detroit, MI 48202. Wayne State University is a large university located in Detroit, Michigan. It is a public school with primarily 4-year or above programs. It has 31,025 students and an admission rate of 79%. Wayne 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 thirty-one, seventy-two, and five students respectively in 2008.
  • Manufacturing Engineering, master's degree which graduated 9 students in 2008.
  • Business Administration and Management, master's degree which graduated 331 students in 2008.

Baker College of Auburn Hills - Auburn Hills, MI

Baker College of Auburn Hills, 1500 University Dr, Auburn Hills, MI 48326-2642. Baker College of Auburn Hills is a small college located in Auburn Hills, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 3,848 students. Baker College of Auburn Hills has 2 areas of study related to Cost Analyst. They are:

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

Baker College of Clinton Township - Clinton Township, MI

Baker College of Clinton Township, 34950 Little Mack Ave, Clinton Township, MI 48035. Baker College of Clinton Township is a medium sized college located in Clinton Township, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 5,666 students. Baker College of Clinton Township has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated thirty-seven and fifty-six students respectively in 2008.

Baker College Corporate Services - Auburn Hills, MI

Baker College Corporate Services, 1195 Centre Rd., Auburn Hills, MI 48326. Baker College Corporate Services is a small college located in Auburn Hills, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 438 students. Baker College Corporate Services has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated twenty-two and fifteen students respectively 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: Detroit, Michigan

Detroit, Michigan
Detroit, Michigan photo by Durova

Detroit is located in Wayne County, Michigan. It has a population of over 912,062, which has shrunk by 4.1% in the past ten years. The cost of living index in Detroit, 86, is well below the national average. New single-family homes in Detroit are priced at $108,900 on average, which is well below the state average. In 2008, eighty-five new homes were built in Detroit, down from one hundred fifty-four the previous year.

The three big industries for women in Detroit are health care, educational services, and transportation equipment. For men, it is transportation equipment, construction, and administrative and support and waste management services. The average commute to work is about 28 minutes. More than 11.0% of Detroit residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.2%, is lower than the state average.

The unemployment rate in Detroit is 27.0%, which is greater than Michigan's average of 14.3%.

The percentage of Detroit residents that are affiliated with a religious congregation, 37.7%, is less than both the national and state average. The most common religious groups are the Catholic Church, the Muslim Estimate and the Lutheran Church.

Detroit is home to the Memorial Park Marina and the Detroit Golf Club as well as Chene Park and Mallett Playground. Visitors to Detroit can choose from Corktown Inn, Clark's Motel and Days Inn of Downtown Detroit for temporary stays in the area.