Career and Education Opportunities for Cost Analysts in Bismarck, North Dakota
Cost analyst career and educational opportunities abound in Bismarck, North Dakota. There are currently 590 working cost analysts in North Dakota; this should grow 23% to about 730 working cost analysts in the state 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. 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.
Income for cost analysts is about $20 per hour or $43,090 per year on average in North Dakota. Nationally, their income is about $27 hourly or $56,510 annually. Cost analysts earn less than people working in the category of Adjustment and Analysis generally in North Dakota and more than people in the Adjustment and Analysis category nationally. People working as cost analysts can fill a number of jobs, such as: job cost estimator, construction job cost estimator, and production cost estimator.
The Bismarck area is home to six schools of higher education, including three within twenty-five miles of Bismarck 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
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 Bismarck 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.
- 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.
EDUCATIONAL OPPORTUNITIES: Cost Analyst Training
University of Mary - Bismarck, ND
University of Mary, 7500 University Dr, Bismarck, ND 58504. University of Mary is a small university located in Bismarck, North Dakota. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,851 students and an admission rate of 81%. University of Mary has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated zero, nine, and 191 students respectively in 2008.
United Tribes Technical College - Bismarck, ND
United Tribes Technical College, 3315 University Dr, Bismarck, ND 58504. United Tribes Technical College is a small college located in Bismarck, North Dakota. It is a private not-for-profit school with primarily 2-year programs and has 371 students. United Tribes Technical College has a one to two year and an associate's degree program in Business Administration and Management which graduated zero and eight students respectively in 2008.
Bismarck State College - Bismarck, ND
Bismarck State College, 1500 Edwards Ave, Bismarck, ND 58506-5587. Bismarck State College is a small college located in Bismarck, North Dakota. It is a public school with primarily 4-year or above programs and has 3,788 students. Bismarck State College has an associate's degree program in Business/Commerce which graduated fifteen students in 2008.
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: Bismarck, North Dakota
Bismarck is situated in Burleigh County, North Dakota. It has a population of over 60,389, which has grown by 8.7% in the past ten years. The cost of living index in Bismarck, 81, is well below the national average. New single-family homes in Bismarck are valued at $168,700 on average, which is below the state average. In 2008, two hundred fifty-nine new homes were built in Bismarck, down from two hundred seventy the previous year.
The top three industries for women in Bismarck are health care, educational services, and public administration. For men, it is construction, public administration, and health care. The average commute to work is about 14 minutes. More than 29.4% of Bismarck residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.7%, is higher than the state average.
The unemployment rate in Bismarck is 2.7%, which is less than North Dakota's average of 3.2%. About 8.4% of Bismarck's residents are below the poverty line, which is better than the state average.
The percentage of Bismarck residents that are affiliated with a religious congregation, 77.8%, is more than both the national and state average. The most common religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.
Bismarck is home to Pioneer Park and Riverside Park. Shopping malls in the area include Kirkwood Plaza Shopping Center, Northbrook Shopping Center and Gateway Mall. Visitors to Bismarck can choose from Americinn Lodge & Suites, Super 8 of Bismarck and Ramada Inn for temporary stays in the area.