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Career and Education Opportunities for Cost Analysts in Durham, North Carolina

For those living in the Durham, North Carolina area, there are many career and education opportunities for cost analysts. There are currently 4,740 working cost analysts in North Carolina; this should grow 30% to 6,170 working cost analysts in the state by 2016. This is better than 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.

Income for cost analysts is about $25 per hour or $52,260 annually on average in North Carolina. Nationally, their income is about $27 hourly or $56,510 annually. Compared with people working in the overall category of Adjustment and Analysis, people working as cost analysts in North Carolina 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, cost estimator, and construction estimator.

There are fifteen schools within twenty-five miles of Durham where you can study to be a cost analyst, among twenty-six schools of higher education total in the Durham area. The most common level of education for cost analysts is a Bachelor's degree. You can expect to spend about four years studying 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 Durham 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

Saint Augustines College - Raleigh, NC

Saint Augustines College, 1315 Oakwood Avenue, Raleigh, NC 27610-2298. Saint Augustines College is a small college located in Raleigh, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,432 students and an admission rate of 44%. Saint Augustines College has a bachelor's degree program in Business Administration and Management which graduated twenty-two students in 2008.

Meredith College - Raleigh, NC

Meredith College, 3800 Hillsborough St, Raleigh, NC 27607-5298. Meredith College is a small college located in Raleigh, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,250 students and an admission rate of 69%. Meredith College has a bachelor's degree and a master's degree program in Business Administration and Management which graduated zero and twenty-two students respectively in 2008.

Peace College - Raleigh, NC

Peace College, 15 E Peace St, Raleigh, NC 27604-1194. Peace College is a small college located in Raleigh, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 713 students and an admission rate of 65%. Peace College has a bachelor's degree program in Business Administration and Management which graduated one student in 2008.

Alamance Community College - Graham, NC

Alamance Community College, 1247 Jimmie Kerr Road, Graham, NC 27253-8000. Alamance Community College is a small college located in Graham, North Carolina. It is a public school with primarily 2-year programs and has 4,607 students. Alamance Community College has a less than one year and an associate's degree program in Business Administration and Management which graduated seven and twenty-two students respectively in 2008.

Wake Technical Community College - Raleigh, NC

Wake Technical Community College, 9101 Fayetteville Road, Raleigh, NC 27603-5696. Wake Technical Community College is a large college located in Raleigh, North Carolina. It is a public school with primarily 2-year programs and has 14,839 students. Wake Technical Community College has a less than one year and an associate's degree program in Business Administration and Management which graduated eleven and fifty-one students respectively in 2008.

University of Phoenix-Raleigh Campus - Raleigh, NC

University of Phoenix-Raleigh Campus, 5511 Capital Center Drive, Ste. 390, Raleigh, NC 27606-4166. University of Phoenix-Raleigh Campus is a small university located in Raleigh, North Carolina. It is a private for-profit school with primarily 4-year or above programs and has 418 students. University of Phoenix-Raleigh Campus has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated one, nineteen, and seventy-four students respectively in 2008.

University of North Carolina at Chapel Hill - Chapel Hill, NC

University of North Carolina at Chapel Hill, 103 South Bldg Cb 9100, Chapel Hill, NC 27599. University of North Carolina at Chapel Hill is a large university located in Chapel Hill, North Carolina. It is a public school with primarily 4-year or above programs. It has 28,567 students and an admission rate of 35%. University of North Carolina at Chapel Hill has bachelor's degree, master's degree, and doctor's degree programs in Business Administration and Management which graduated 358, 432, and eleven students respectively in 2008.

Duke University - Durham, NC

Duke University, 103 Allen Bldg, Durham, NC 27708. Duke University is a large university located in Durham, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 13,871 students and an admission rate of 23%. Duke University 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 ten, seven, and ten students respectively in 2008.
  • Business Administration and Management, master's degree and doctor's degree which graduated 705 and thirteen students respectively in 2008.

North Carolina Central University - Durham, NC

North Carolina Central University, 1801 Fayetteville Street, Durham, NC 27707. North Carolina Central University is a medium sized university located in Durham, North Carolina. It is a public school with primarily 4-year or above programs. It has 8,033 students and an admission rate of 74%. North Carolina Central University has a bachelor's degree and a master's degree program in Business Administration and Management which graduated 106 and five students respectively in 2008.

Durham Technical Community College - Durham, NC

Durham Technical Community College, 1637 Lawson St, Durham, NC 27703-5023. Durham Technical Community College is a medium sized college located in Durham, North Carolina. It is a public school with primarily 2-year programs and has 5,214 students. Durham Technical Community College has an associate's degree program in Business Administration and Management which graduated four students in 2008.

North Carolina State University at Raleigh - Raleigh, NC

North Carolina State University at Raleigh, 2101 Hillsborough Street, Raleigh, NC 27695-7001. North Carolina State University at Raleigh is a large university located in Raleigh, North Carolina. It is a public school with primarily 4-year or above programs. It has 32,871 students and an admission rate of 60%. North Carolina State University at Raleigh has 5 areas of study related to Cost Analyst. They are:

  • Materials Engineering, bachelor's degree, master's degree, and doctor's degree which graduated eleven, seven, and nine students respectively in 2008.
  • Mechanical Engineering, bachelor's degree, master's degree, and doctor's degree which graduated eight, thirty-three, and ten students respectively in 2008.
  • Construction Engineering, bachelor's degree which graduated 4 students in 2008.
  • Manufacturing Engineering, master's degree which graduated 22 students in 2008.
  • Business Administration and Management, bachelor's degree and master's degree which graduated twenty-four and 122 students respectively in 2008.

Shaw University - Raleigh, NC

Shaw University, 118 East South Street, Raleigh, NC 27601. Shaw University is a small university located in Raleigh, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,702 students and an admission rate of 45%. Shaw University has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated eight and 102 students respectively in 2008.

Piedmont Community College - Roxboro, NC

Piedmont Community College, 1715 College Dr, Roxboro, NC 27573. Piedmont Community College is a small college located in Roxboro, North Carolina. It is a public school with primarily 2-year programs and has 2,590 students. Piedmont Community College has less than one year, one to two year, and associate's degree programs in Business Administration and Management which graduated twenty-eight, seven, and twenty-five students respectively in 2008.

Miller-Motte College-Cary - Cary, NC

Miller-Motte College-Cary, 2205 Walnut Street, Cary, NC 27518-7171. Miller-Motte College-Cary is a small college located in Cary, North Carolina. It is a private for-profit school with primarily 2-year programs. It has 495 students and an admission rate of 84%. Miller-Motte College-Cary has an associate's degree program in Business Administration and Management which graduated three students in 2008.

Vance-Granville Community College - Henderson, NC

Vance-Granville Community College, I85 and Poplar Creek Rd, Henderson, NC 27536. Vance-Granville Community College is a small college located in Henderson, North Carolina. It is a public school with primarily 2-year programs and has 4,686 students. Vance-Granville Community College has a less than one year and an associate's degree program in Business Administration and Management which graduated seventeen and 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: Durham, North Carolina

Durham, North Carolina
Durham, North Carolina photo by Specious

Durham is situated in Durham County, North Carolina. It has a population of over 223,284, which has grown by 19.4% over the last ten years. The cost of living index in Durham, 86, is well below the national average. New single-family homes in Durham are valued at $187,200 on average, which is well above the state average. In 2008, 1,082 new homes were built in Durham, down from 1,574 the previous year.

The three most popular industries for women in Durham are health care, educational services, and professional, scientific, and technical services. For men, it is construction, educational services, and health care. The average commute to work is about 21 minutes. More than 41.8% of Durham residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 18.3%, is higher than the state average.

The unemployment rate in Durham is 7.3%, which is less than North Carolina's average of 10.6%.

The percentage of Durham residents that are affiliated with a religious congregation, 39.3%, is less than both the national and state average. Laymans Church, Holy Infant Church and Homestead Heights Church are among the churches located in Durham. The most prominent religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.

Durham is home to the Hope Valley Country Club and the Union Building as well as Durham County Stadium and Northgate Park. Shopping centers in the area include South Square Mall, Lakewood Shopping Center and Kings Plaza Shopping Center. Visitors to Durham can choose from Brownestone Inn, Durham-Days Inn ) and Hilton Durham for temporary stays in the area.