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Career and Education Opportunities for Cost Analysts in Columbia, Missouri

For those living in the Columbia, Missouri area, there are many career and education opportunities for cost analysts. About 5,180 people are currently employed as cost analysts in Missouri. By 2016, this is expected to grow by 15% to 5,980 people employed. This is not quite as good as 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.

Cost analysts earn approximately $26 hourly or $54,190 annually on average in Missouri. Nationally they average about $27 hourly or $56,510 yearly. Earnings for cost analysts are better than earnings in the general category of Adjustment and Analysis in Missouri and better than general Adjustment and Analysis category earnings nationally. Jobs in this field include: environmental marketing specialist, cost estimator, and cost recovery/investment recovery technician.

The Columbia area is home to thirteen schools of higher education, including eight within twenty-five miles of Columbia 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 Columbia 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.
  • 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

William Woods University - Fulton, MO

William Woods University, One University Avenue, Fulton, MO 65251-1098. William Woods University is a small university located in Fulton, Missouri. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,287 students and an admission rate of 85%. William Woods University has a bachelor's degree and a master's degree program in Business Administration and Management which graduated eighty-seven and 165 students respectively in 2008.

Columbia College - Columbia, MO

Columbia College, 1001 Rogers, Columbia, MO 65216. Columbia College is a large college located in Columbia, Missouri. It is a private not-for-profit school with primarily 4-year or above programs. It has 14,081 students and an admission rate of 53%. Columbia College has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, associate's degree, bachelor's degree, and master's degree which graduated 128, zero, and seventy-seven students respectively in 2008.
  • Business Administration and Management, bachelor's degree which graduated 109 students in 2008.

Westminster College - Fulton, MO

Westminster College, 501 Westminster Ave, Fulton, MO 65251-1299. Westminster College is a small college located in Fulton, Missouri. It is a private not-for-profit school with primarily 4-year or above programs. It has 992 students and an admission rate of 77%. Westminster College has a bachelor's degree program in Business Administration and Management which graduated two students in 2008.

Central Methodist University-College of Liberal Arts & Sciences - Fayette, MO

Central Methodist University-College of Liberal Arts & Sciences, 411 Central Methodist Square, Fayette, MO 65248-1198. Central Methodist University-College of Liberal Arts & Sciences is a small university located in Fayette, Missouri. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,031 students and an admission rate of 66%. Central Methodist University-College of Liberal Arts & Sciences has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, bachelor's degree which graduated 2 students in 2008.
  • Business Administration and Management, bachelor's degree which graduated 2 students in 2008.

University of Missouri-Columbia - Columbia, MO

University of Missouri-Columbia, 105 Jesse Hall, Columbia, MO 65211. University of Missouri-Columbia is a large university located in Columbia, Missouri. It is a public school with primarily 4-year or above programs. It has 30,130 students and an admission rate of 85%. University of Missouri-Columbia has 2 areas of study related to Cost Analyst. They are:

  • Mechanical Engineering, bachelor's degree, master's degree, and doctor's degree which graduated 104, sixteen, and eleven students respectively in 2008.
  • Business/Commerce, bachelor's degree, master's degree, and doctor's degree which graduated 703, 106, and six students respectively in 2008.

Lincoln University - Jefferson City, MO

Lincoln University, 820 Chestnut, Jefferson City, MO 65102-0029. Lincoln University is a small university located in Jefferson City, Missouri. It is a public school with primarily 4-year or above programs and has 3,109 students. Lincoln University has a bachelor's degree and a master's degree program in Business Administration and Management which graduated forty-seven and nineteen students respectively in 2008.

Central Methodist University-College of Graduate & Extended Studies - Fayette, MO

Central Methodist University-College of Graduate & Extended Studies, 411 Central Methodist Square, Fayette, MO 65248-1198. Central Methodist University-College of Graduate & Extended Studies is a small university located in Fayette, Missouri. It is a private not-for-profit school with primarily 4-year or above programs and has 2,373 students. Central Methodist University-College of Graduate & Extended Studies has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, bachelor's degree which graduated 1 student in 2008.
  • Business Administration and Management, bachelor's degree which graduated 18 students in 2008.

Stephens College - Columbia, MO

Stephens College, 1200 E Broadway, Columbia, MO 65215. Stephens College is a small college located in Columbia, Missouri. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,147 students and an admission rate of 71%. Stephens College has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, bachelor's degree.
  • Business Administration and Management, master's degree which graduated 11 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: Columbia, Missouri

Columbia, Missouri
Columbia, Missouri photo by Grey_Wanderer

Columbia is situated in Boone County, Missouri. It has a population of over 100,733, which has grown by 19.2% over the last ten years. The cost of living index in Columbia, 85, is well below the national average. New single-family homes in Columbia are valued at $171,800 on average, which is below the state average. In 2008, three hundred thirty-five new homes were constructed in Columbia, down from six hundred fifty-three the previous year.

The top three industries for women in Columbia are educational services, health care, and accommodation and food services. For men, it is educational services, accommodation and food services, and health care. The average travel time to work is about 15 minutes. More than 50.5% of Columbia residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 24.0%, is higher than the state average.

The unemployment rate in Columbia is 6.8%, which is less than Missouri's average of 8.9%.

The percentage of Columbia residents that are affiliated with a religious congregation, 40.9%, is less than both the national and state average. Sugar Grove Church, Fairview Church and Emmanuel Church are among the churches located in Columbia. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the Christian Church (Disciples of Christ).

Columbia is home to the Columbia Country Club and the Columbia Plaza as well as Nickell Park and Stephens Park. Shopping centers in the area include Whitegate Shopping Center, North County Shopping Center and Biscayne Mall. Visitors to Columbia can choose from Churchill's, Columbia Super 8 Motel and Arrow Head Motel LLC for temporary stays in the area.