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Career and Education Opportunities for Cost Analysts in Albuquerque, New Mexico

If you want to be a cost analyst, the Albuquerque, New Mexico area offers many opportunities both for education and employment. There are currently 900 jobs for cost analysts in New Mexico and this is projected to grow 15% to about 1,030 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. 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.

A person working as a cost analyst can expect to earn about $26 per hour or $55,710 annually on average in New Mexico and about $27 hourly or $56,510 yearly on average in the U.S. as a whole. Incomes for cost analysts are better than in the overall category of Adjustment and Analysis in New Mexico, and better than the overall Adjustment and Analysis category nationally. People working as cost analysts can fill a number of jobs, such as: job cost estimator, procurement technician, and production cost estimator.

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

EDUCATIONAL OPPORTUNITIES: Cost Analyst Training

University of New Mexico-Main Campus - Albuquerque, NM

University of New Mexico-Main Campus, , Albuquerque, NM 87131-0001. University of New Mexico-Main Campus is a large university located in Albuquerque, New Mexico. It is a public school with primarily 4-year or above programs. It has 24,105 students and an admission rate of 71%. University of New Mexico-Main Campus has 4 areas of study related to Cost Analyst. They are:

  • Mechanical Engineering, bachelor's degree and master's degree which graduated sixty and seventeen students respectively in 2008.
  • Construction Engineering, master's degree which graduated 4 students in 2008.
  • Manufacturing Engineering, master's degree which graduated 4 students in 2008.
  • Business Administration and Management, bachelor's degree, master's degree, and post-master's certificate which graduated four, 155, and two students respectively in 2008.

Central New Mexico Community College - Albuquerque, NM

Central New Mexico Community College, 525 Buena Vista SE, Albuquerque, NM 87106. Central New Mexico Community College is a large college located in Albuquerque, New Mexico. It is a public school with primarily 2-year programs and has 24,690 students. Central New Mexico Community College has one to two year, associate's degree, and two to four year programs in Business Administration and Management which graduated twenty-three, 148, and nine students respectively in 2008.

University of Phoenix-New Mexico Campus - Albuquerque, NM

University of Phoenix-New Mexico Campus, 5700 Pasadena NE, Albuquerque, NM 87113-1570. University of Phoenix-New Mexico Campus is a small university located in Albuquerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 3,303 students. University of Phoenix-New Mexico Campus has a bachelor's degree and a master's degree program in Business Administration and Management which graduated 304 and 198 students respectively in 2008.

Southwestern Indian Polytechnic Institute - Albuquerque, NM

Southwestern Indian Polytechnic Institute, 9169 Coors Rd NW, Albuquerque, NM 87120-3101. Southwestern Indian Polytechnic Institute is a small school located in Albuquerque, New Mexico. It is a public school with primarily 2-year programs and has 451 students. Southwestern Indian Polytechnic Institute has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, associate's degree which graduated 4 students in 2008.
  • Business Administration and Management, one to two year and associate's degree which graduated five and one students respectively in 2008.

University of New Mexico-Valencia County Branch - Los Lunas, NM

University of New Mexico-Valencia County Branch, 280 La Entrada, Los Lunas, NM 87031-7633. University of New Mexico-Valencia County Branch is a small university located in Los Lunas, New Mexico. It is a public school with primarily 2-year programs and has 1,452 students. University of New Mexico-Valencia County Branch has a one to two year and an associate's degree program in Business Administration and Management which graduated two and fifteen students respectively in 2008.

National American University-Albuquerque - Albuequerque, NM

National American University-Albuquerque, 4775 Indian School Road NE, Suite 200, Albuequerque, NM 87110-3976. National American University-Albuquerque is a small university located in Albuequerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 360 students. National American University-Albuquerque has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated eight and twenty-seven students respectively in 2008.

National American University-Rio Rancho - Rio Rancho, NM

National American University-Rio Rancho, 1601 Rio Rancho, Suite 200, Highway 528 & Sara Road, Rio Rancho, NM 87124-1903. National American University-Rio Rancho is a small university located in Rio Rancho, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 177 students. National American University-Rio Rancho has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated five and thirty-three students respectively in 2008.

IIA College - Albuquerque, NM

IIA College, 4201 Central Ave Nw-Ste J, Albuquerque, NM 87105. IIA College is a small college located in Albuquerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 315 students. IIA College has a less than one year program in Business Administration and Management which graduated thirteen students in 2008.

ITT Technical Institute-Albuquerque - Albuquerque, NM

ITT Technical Institute-Albuquerque, 5100 Masthead N.E., Albuquerque, NM 87109. ITT Technical Institute-Albuquerque is a small school located in Albuquerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs. It has 672 students and an admission rate of 54%. ITT Technical Institute-Albuquerque has a bachelor's degree program in Business Administration and Management.

College of Santa Fe at Albuquerque - Albuquerque, NM

College of Santa Fe at Albuquerque, 4501 Indian School Rd NE, Albuquerque, NM 87110. College of Santa Fe at Albuquerque is a small college located in Albuquerque, New Mexico. It is a private not-for-profit school with primarily 4-year or above programs. It has 761 students and an admission rate of 100%. College of Santa Fe at Albuquerque has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated six, twenty, and thirty-three 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: Albuquerque, New Mexico

Albuquerque, New Mexico
Albuquerque, New Mexico photo by Debernardi

Albuquerque is situated in Bernalillo County, New Mexico. It has a population of over 521,999, which has grown by 16.4% in the past ten years. The cost of living index in Albuquerque, 89, is well below the national average. New single-family homes in Albuquerque cost $176,100 on average, which is above the state average. In 2008, 1,067 new homes were built in Albuquerque, down from 2,096 the previous year.

The three big industries for women in Albuquerque are health care, educational services, and accommodation and food services. For men, it is construction, professional, scientific, and technical services, and educational services. The average commute to work is about 20 minutes. More than 31.8% of Albuquerque residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.4%, is higher than the state average.

The unemployment rate in Albuquerque is 6.9%, which is less than New Mexico's average of 7.5%.

The percentage of Albuquerque residents that are affiliated with a religious congregation, 54.7%, is more than the national average but less than the state average. Heights Seventh Day Adventist Church, Hope Church and Baptist Student Union are some of the churches located in Albuquerque. The most common religious groups are the Catholic Church, the Southern Baptist Convention and the Non-Charismatic Churches Independent.

Albuquerque is home to the Menaul School Historic District and the Volcano Ranch as well as Cutler Park and Eunice Kaloch Park. Shopping centers in the area include Del Norte Parkade Shopping Center, Westway Shopping Center and Winrock Shopping Center. Visitors to Albuquerque can choose from Winrock Inn-Best Western, New Mexico State Government - Health Department- Behavioral Health Services Divi and Motel 6 for temporary stays in the area.