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Career and Education Opportunities for Cost Analysts in Jackson, Mississippi

There are many career and education opportunities for cost analysts in the Jackson, Mississippi area. About 1,160 people are currently employed as cost analysts in Mississippi. By 2016, this is expected to grow by 28% to 1,490 people employed. This is better than the nation as a whole, where employment opportunities for cost analysts are expected to grow by about 25.3%. 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 $23 per hour or $47,890 per year on average in Mississippi. Nationally, their income is about $27 hourly or $56,510 yearly. Cost analysts earn less than people working in the category of Adjustment and Analysis generally in Mississippi and more than people in the Adjustment and Analysis category nationally. Jobs in this field include: production cost estimator, sales engineer, and building construction estimator.

There are six schools within twenty-five miles of Jackson where you can study to be a cost analyst, among seventeen schools of higher education total in the Jackson 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 Jackson 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

Hinds Community College - Raymond, MS

Hinds Community College, 501 East Main Street, Raymond, MS 39154. Hinds Community College is a large college located in Raymond, Mississippi. It is a public school with primarily 2-year programs and has 10,398 students. Hinds Community College has an associate's degree program in Business/Commerce which graduated forty-six students in 2008.

Millsaps College - Jackson, MS

Millsaps College, 1701 N State St, Jackson, MS 39210-0001. Millsaps College is a small college located in Jackson, Mississippi. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,118 students and an admission rate of 77%. Millsaps College has a bachelor's degree and a master's degree program in Business Administration and Management which graduated zero and forty-three students respectively in 2008.

Jackson State University - Jackson, MS

Jackson State University, 1440 J R Lynch St, Jackson, MS 39217. Jackson State University is a medium sized university located in Jackson, Mississippi. It is a public school with primarily 4-year or above programs. It has 8,530 students and an admission rate of 36%. Jackson State University has bachelor's degree, master's degree, and doctor's degree programs in Business Administration and Management which graduated 111, eighteen, and two students respectively in 2008.

Mississippi College - Clinton, MS

Mississippi College, 200 South Capitol Street, Clinton, MS 39058. Mississippi College is a small college located in Clinton, Mississippi. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,788 students and an admission rate of 62%. Mississippi College has a bachelor's degree and a master's degree program in Business Administration and Management which graduated sixty-one and thirty-three students respectively in 2008.

University of Mississippi Medical Center - Jackson, MS

University of Mississippi Medical Center, 2500 N State St, Jackson, MS 39216-4505. University of Mississippi Medical Center is a small university located in Jackson, Mississippi. It is a public school with primarily 4-year or above programs and has 1,238 students. University of Mississippi Medical Center has a master's degree and a doctor's degree program in Materials Engineering.

Belhaven College - Jackson, MS

Belhaven College, 1500 Peachtree St, Jackson, MS 39202. Belhaven College is a small college located in Jackson, Mississippi. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,583 students and an admission rate of 61%. Belhaven College has one to two year, bachelor's degree, and master's degree programs in Business Administration and Management which graduated zero, 190, and 109 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: Jackson, Mississippi

Jackson, Mississippi
Jackson, Mississippi photo by Yassie

Jackson is situated in Hinds County, Mississippi. It has a population of over 173,861, which has shrunk by 5.6% in the past ten years. The cost of living index in Jackson, 83, is well below the national average. New single-family homes in Jackson cost $101,700 on average, which is well below the state average. In 2008, four hundred fifty-six new homes were built in Jackson, up from two hundred twenty-three the previous year.

The three big industries for women in Jackson are health care, educational services, and accommodation and food services. For men, it is construction, accommodation and food services, and educational services. The average travel time to work is about 20 minutes. More than 27.1% of Jackson residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 10.2%, is higher than the state average.

The unemployment rate in Jackson is 9.2%, which is less than Mississippi's average of 9.5%.

The percentage of Jackson residents that are affiliated with a religious congregation, 55.4%, is more than both the national and state average. Bibleway Baptist Church, Saint Johns Missionary Baptist Church and Saint John Deliverance Temple Number 2 are some of the churches located in Jackson. The most common religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.

Jackson is home to the Riverhills Country Club and the Colonial Country Club as well as Smith-Wills Stadium and Lefleurs Bluff State Park. Shopping malls in the area include North Terry Road Shopping Center, Northside Shopping Center and Northtown Village Shopping Center. Visitors to Jackson can choose from Days Inn-Coliseum, Econo Lodge and Regal Sales Office for temporary stays in the area.