Career and Education Opportunities for Cost Analysts in Fargo, North Dakota
For those living in the Fargo, North Dakota area, there are many career and education opportunities for cost analysts. About 590 people are currently employed as cost analysts in North Dakota. By 2016, this is expected to grow by 23% to about 730 people employed. This is not quite as good as 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.
A person working as a cost analyst can expect to earn about $20 hourly or $43,090 yearly on average in North Dakota and about $27 per hour or $56,510 per year on average in the U.S. as a whole. Compared with people working in the overall category of Adjustment and Analysis, people working as cost analysts in North Dakota 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: design consultant, operations manager, and quantity surveyor.
The Fargo area is home to eight schools of higher education, including four within twenty-five miles of Fargo where you can get a degree as a cost analyst. Cost analysts usually hold a Bachelor's degree, so it will take about four years to learn to be 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 Fargo 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.
- 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
North Dakota State University-Main Campus - Fargo, ND
North Dakota State University-Main Campus, 1301 12th Avenue North, Fargo, ND 58108-6050. North Dakota State University-Main Campus is a large university located in Fargo, North Dakota. It is a public school with primarily 4-year or above programs. It has 13,229 students and an admission rate of 80%. North Dakota State University-Main Campus has 4 areas of study related to Cost Analyst. They are:
- Mechanical Engineering, bachelor's degree, master's degree, and doctor's degree which graduated sixty-one, thirteen, and zero students respectively in 2008.
- Construction Engineering, bachelor's degree which graduated 14 students in 2008.
- Manufacturing Engineering, bachelor's degree and master's degree which graduated six and two students respectively in 2008.
- Business Administration and Management, bachelor's degree and master's degree which graduated two and thirty-four students respectively in 2008.
Concordia College at Moorhead - Moorhead, MN
Concordia College at Moorhead, 901 S 8th St, Moorhead, MN 56562. Concordia College at Moorhead is a small college located in Moorhead, Minnesota. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,823 students and an admission rate of 78%. Concordia College at Moorhead has a bachelor's degree program in Business Administration and Management which graduated sixteen students in 2008.
Rasmussen College-Fargo - Fargo, ND
Rasmussen College-Fargo, 4012 19th Ave SW, Fargo, ND 58103-7196. Rasmussen College-Fargo is a small college located in Fargo, North Dakota. It is a private for-profit school with primarily 4-year or above programs and has 878 students. Rasmussen College-Fargo has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated forty-three and one students respectively in 2008.
Minnesota State University-Moorhead - Moorhead, MN
Minnesota State University-Moorhead, 1104 7th Ave S, Moorhead, MN 56563. Minnesota State University-Moorhead is a medium sized university located in Moorhead, Minnesota. It is a public school with primarily 4-year or above programs. It has 7,486 students and an admission rate of 80%. Minnesota State University-Moorhead has a bachelor's degree program in Business Administration and Management which graduated five 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: Fargo, North Dakota
Fargo is located in Cass County, North Dakota. It has a population of over 93,531, which has grown by 3.2% in the past ten years. The cost of living index in Fargo, 83, is well below the national average. New single-family homes in Fargo are priced at $139,800 on average, which is well below the state average. In 2008, four hundred four new homes were constructed in Fargo, down from four hundred forty-seven the previous year.
The top three industries for women in Fargo are health care, educational services, and finance and insurance. For men, it is construction, accommodation and food services, and educational services. The average commute to work is about 15 minutes. More than 34.4% of Fargo residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 9.5%, is higher than the state average.
The unemployment rate in Fargo is 3.5%, which is greater than North Dakota's average of 3.2%.
The percentage of Fargo residents that are affiliated with a religious congregation, 56.8%, is more than the national average but less than the state average. The most common religious groups are the Evangelical Lutheran Church in America, the Catholic Church and the United Methodist Church.
Fargo is home to the Elm Tree Square and the Market Square as well as Roosevelt Playground and Oak Grove Park. Shopping malls in the area include Valley North Mall, Northport Mall and West Acres Shopping Center. Visitors to Fargo can choose from Rodeway Inn Fargo, Wingate Inn and Sleep Inn Fargo for temporary stays in the area.