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

Cost analysts can find both educational opportunities and jobs in the Raleigh, North Carolina area. About 4,740 people are currently employed as cost analysts in North Carolina. By 2016, this is expected to grow by 30% to 6,170 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.

The income of a cost analyst is about $25 per hour or $52,260 yearly on average in North Carolina. In the U.S. as a whole, their income is about $27 per hour or $56,510 yearly on average. Cost analysts earn less than people working in the category of Adjustment and Analysis generally in North Carolina and more than people in the Adjustment and Analysis category nationally. Cost analysts work in a variety of jobs, including: project manager, cost estimator, and production cost estimator.

There are seventeen schools within twenty-five miles of Raleigh where you can study to be a cost analyst, among twenty-nine schools of higher education total in the Raleigh area. Given that the most common education level for cost analysts is a Bachelor's degree, 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 Raleigh 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.

Central Carolina Community College - Sanford, NC

Central Carolina Community College, 1105 Kelly Dr, Sanford, NC 27330-9840. Central Carolina Community College is a small college located in Sanford, North Carolina. It is a public school with primarily 2-year programs and has 4,753 students. Central Carolina Community College has less than one year, one to two year, and associate's degree programs in Business Administration and Management which graduated two, zero, and forty-two 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.

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 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.

Wayne Community College - Goldsboro, NC

Wayne Community College, 3000 Wayne Memorial Dr, Goldsboro, NC 27533-8002. Wayne Community College is a small college located in Goldsboro, North Carolina. It is a public school with primarily 2-year programs and has 3,376 students. Wayne Community College has a one to two year and an associate's degree program in Business Administration and Management which graduated zero and fourteen 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.

Johnston Community College - Smithfield, NC

Johnston Community College, 245 College Road, Smithfield, NC 27577-2350. Johnston Community College is a small college located in Smithfield, North Carolina. It is a public school with primarily 2-year programs and has 4,128 students. Johnston Community College has a less than one year and an associate's degree program in Business Administration and Management which graduated four and eighteen 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.

Campbell University Inc - Buies Creek, NC

Campbell University Inc, 450 Leslie Campbell Ave, Buies Creek, NC 27506. Campbell University Inc is a medium sized university located in Buies Creek, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 6,075 students and an admission rate of 60%. Campbell University Inc has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated fifteen, one, and seventy-seven students respectively 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.

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.

Louisburg College - Louisburg, NC

Louisburg College, 501 N. Main St., Louisburg, NC 27549-2399. Louisburg College is a small college located in Louisburg, North Carolina. It is a private not-for-profit school with primarily 2-year programs. It has 586 students and an admission rate of 53%. Louisburg College has an associate's degree program in Business/Commerce which graduated three 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: Raleigh, North Carolina

Raleigh, North Carolina
Raleigh, North Carolina photo by Jmturner

Raleigh is located in Wake County, North Carolina. It has a population of over 392,552, which has grown by 42.2% over the last ten years. The cost of living index in Raleigh, 88, is well below the national average. New single-family homes in Raleigh are valued at $217,600 on average, which is far greater than the state average. In 2008, 1,685 new homes were built in Raleigh, down from 3,224 the previous year.

The top three industries for women in Raleigh are educational services, health care, and accommodation and food services. For men, it is construction, professional, scientific, and technical services, and accommodation and food services. The average commute to work is about 22 minutes. More than 44.9% of Raleigh residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 14.4%, is higher than the state average.

The unemployment rate in Raleigh is 7.2%, which is less than North Carolina's average of 10.6%.

The percentage of Raleigh residents that are affiliated with a religious congregation, 43.8%, is less than both the national and state average. Highland Church, Hillcrest Church and Wake Chapel are all churches located in Raleigh. The most prominent religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Raleigh is home to the North Ridge Country Club and the Pamlico Junction as well as Carl Alwin Schenck Memorial Forest and Rothgeb Park. Visitors to Raleigh can choose from Hampton Inn - Capital Blvd. North, Best Western Raleigh Inn and Diamond Hospitality Inc for temporary stays in the area.