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Career and Education Opportunities for Cost Analysts in Winston-Salem, North Carolina

For those living in the Winston-Salem, 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.

Cost analysts earn about $25 per hour or $52,260 yearly on average in North Carolina and about $27 hourly or $56,510 per year on average nationally. 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: cost estimator, electrical estimator, and sales engineer.

The Winston-Salem area is home to eighteen schools of higher education, including nine within twenty-five miles of Winston-Salem 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 Winston-Salem 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

Wake Forest University - Winston Salem, NC

Wake Forest University, 1834 Wake Forest Road, Winston Salem, NC 27106. Wake Forest University is a medium sized university located in Winston Salem, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 6,862 students and an admission rate of 38%. Wake Forest University has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, bachelor's degree which graduated 100 students in 2008.
  • Business Administration and Management, master's degree which graduated 263 students in 2008.

Davidson County Community College - Thomasville, NC

Davidson County Community College, 297 Davidson Community College Rd, Thomasville, NC 27360-7385. Davidson County Community College is a small college located in Thomasville, North Carolina. It is a public school with primarily 2-year programs and has 3,617 students. Davidson County Community College has less than one year, one to two year, and associate's degree programs in Business Administration and Management which graduated eight, ten, and nineteen students respectively in 2008.

High Point University - High Point, NC

High Point University, 833 Montlieu Ave, High Point, NC 27262-3598. High Point University is a small university located in High Point, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,384 students and an admission rate of 74%. High Point University has a bachelor's degree and a master's degree program in Business Administration and Management which graduated ten and one students respectively in 2008.

Surry Community College - Dobson, NC

Surry Community College, 630 S. Main St., Dobson, NC 27017-8432. Surry Community College is a small college located in Dobson, North Carolina. It is a public school with primarily 2-year programs and has 3,527 students. Surry Community College has a less than one year and an associate's degree program in Business Administration and Management which graduated one and thirty-three students respectively in 2008.

Guilford Technical Community College - Jamestown, NC

Guilford Technical Community College, 601 High Point Rd, Jamestown, NC 27282. Guilford Technical Community College is a large college located in Jamestown, North Carolina. It is a public school with primarily 2-year programs and has 11,289 students. Guilford Technical Community College has a one to two year and an associate's degree program in Business Administration and Management which graduated seven and thirty-four students respectively in 2008.

Salem College - Winston Salem, NC

Salem College, 601 S Church St, Winston Salem, NC 27101. Salem College is a small college located in Winston Salem, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 960 students and an admission rate of 59%. Salem College has a bachelor's degree program in Business Administration and Management which graduated two students in 2008.

Forsyth Technical Community College - Winston Salem, NC

Forsyth Technical Community College, 2100 Silas Creek Pky, Winston Salem, NC 27103-5197. Forsyth Technical Community College is a medium sized college located in Winston Salem, North Carolina. It is a public school with primarily 2-year programs and has 6,748 students. Forsyth Technical Community College has a less than one year and an associate's degree program in Business Administration and Management which graduated six and fifty-three students respectively in 2008.

North Carolina A & T State University - Greensboro, NC

North Carolina A & T State University, 1601 E Market St, Greensboro, NC 27411. North Carolina A & T State University is a large university located in Greensboro, North Carolina. It is a public school with primarily 4-year or above programs. It has 10,148 students and an admission rate of 56%. North Carolina A & T State 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 twenty-two, eleven, and ten students respectively in 2008.
  • Business Administration and Management, bachelor's degree and master's degree which graduated three and twelve students respectively in 2008.

Winston-Salem State University - Winston-Salem, NC

Winston-Salem State University, 601 Martin Luther King Jr Dr, Winston-Salem, NC 27110-0001. Winston-Salem State University is a medium sized university located in Winston-Salem, North Carolina. It is a public school with primarily 4-year or above programs. It has 6,444 students and an admission rate of 68%. Winston-Salem State University has a bachelor's degree and a master's degree program in Business Administration and Management which graduated seventy and seventeen 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: Winston-Salem, North Carolina

Winston-Salem, North Carolina
Winston-Salem, North Carolina photo by File Upload Bot

Winston-Salem is situated in Forsyth County, North Carolina. It has a population of over 217,600, which has grown by 17.1% in the past ten years. The cost of living index in Winston-Salem, 83, is well below the national average. New single-family homes in Winston-Salem cost $76,600 on average, which is far less than the state average. In 2008, 1,032 new homes were built in Winston-Salem, down from 1,706 the previous year.

The top three industries for women in Winston-Salem are health care, educational services, and finance and insurance. For men, it is construction, health care, and accommodation and food services. The average travel time to work is about 20 minutes. More than 30.3% of Winston-Salem residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 11.0%, is higher than the state average.

The unemployment rate in Winston-Salem is 9.0%, which is less than North Carolina's average of 10.6%.

The percentage of Winston-Salem residents that are affiliated with a religious congregation, 50.4%, is more than both the national and state average. Wachovia Arbor Church, Mount Zion Church and Hope Church are all churches located in Winston-Salem. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Moravian Church in America.

Winston-Salem is home to the Stafford Center and the Dixie Classics Fairgrounds as well as Forest Park and Mineral Springs Park. Shopping centers in the area include College Plaza Shopping Center, College Village Shopping Center and Club Haven Shopping Center.