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Career and Education Opportunities for Cost Analysts in Sioux Falls, South Dakota

There are many career and education opportunities for cost analysts in the Sioux Falls, South Dakota area. About 630 people are currently employed as cost analysts in South Dakota. By 2016, this is expected to grow by 38% to about 870 people employed. 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. 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.

Cost analysts earn about $20 per hour or $42,780 annually on average in South Dakota and about $27 per hour or $56,510 yearly on average nationally. Compared with people working in the overall category of Adjustment and Analysis, people working as cost analysts in South Dakota earn less. They earn more than people working in the overall category of Adjustment and Analysis nationally. Cost analysts work in a variety of jobs, including: cost estimator, sales engineer, and operations manager.

The Sioux Falls area is home to ten schools of higher education, including six within twenty-five miles of Sioux Falls where you can get a degree as a cost analyst. Given that the most common education level for cost analysts is a Bachelor's degree, 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

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 Sioux Falls 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.
  • 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

Southeast Technical Institute - Sioux Falls, SD

Southeast Technical Institute, 2320 N Career Ave, Sioux Falls, SD 57107-1301. Southeast Technical Institute is a small school located in Sioux Falls, South Dakota. It is a public school with primarily 2-year programs and has 2,138 students. Southeast Technical Institute has an associate's degree program in Business/Commerce which graduated ninety students in 2008.

Colorado Technical University of Sioux Falls - Sioux Falls, SD

Colorado Technical University of Sioux Falls, 3901 W 59th St, Sioux Falls, SD 57108-2272. Colorado Technical University of Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private for-profit school with primarily 4-year or above programs and has 1,080 students. Colorado Technical University of Sioux Falls has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated twenty-six, forty-two, and thirty-nine students respectively in 2008.

National American University-Sioux Falls - Sioux Falls, SD

National American University-Sioux Falls, Vista Park Office Building Suite 100, 2801 South Kiwanis Ave, Sioux Falls, SD 57105-4293. National American University-Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private for-profit school with primarily 4-year or above programs and has 391 students. National American University-Sioux Falls has an associate's degree and a bachelor's degree program in Business Administration and Management which graduated seven and eleven students respectively in 2008.

Kilian Community College - Sioux Falls, SD

Kilian Community College, 300 E. 6th Street, Sioux Falls, SD 57103-7020. Kilian Community College is a small college located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 2-year programs and has 330 students. Kilian Community College has an associate's degree program in Business Administration and Management.

University of Sioux Falls - Sioux Falls, SD

University of Sioux Falls, 1101 W 22nd St, Sioux Falls, SD 57105-1699. University of Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,564 students and an admission rate of 97%. University of Sioux Falls has associate's degree, bachelor's degree, and master's degree programs in Business Administration and Management which graduated zero, nine, and forty students respectively in 2008.

Augustana College - Sioux Falls, SD

Augustana College, 2001 S Summit Ave, Sioux Falls, SD 57197-0001. Augustana College is a small college located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,754 students and an admission rate of 81%. Augustana College has a bachelor's degree program in Business Administration and Management which graduated eleven 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: Sioux Falls, South Dakota

Sioux Falls, South Dakota
Sioux Falls, South Dakota photo by AlexiusHoratius

Sioux Falls is located in Minnehaha County, South Dakota. It has a population of over 154,997, which has grown by 25.0% over the last ten years. The cost of living index in Sioux Falls, 81, is well below the national average. New single-family homes in Sioux Falls cost $149,700 on average, which is above the state average. In 2008, five hundred eighty-six new homes were built in Sioux Falls, down from 1,000 the previous year.

The three big industries for women in Sioux Falls are health care, finance and insurance, and educational services. For men, it is construction, finance and insurance, and accommodation and food services. The average commute to work is about 16 minutes. More than 27.8% of Sioux Falls residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.6%, is lower than the state average.

The unemployment rate in Sioux Falls is 5.1%, which is greater than South Dakota's average of 4.5%.

The percentage of Sioux Falls residents that are affiliated with a religious congregation, 66.8%, is more than both the national and state average. Messiah Church, Sunnycrest Church and First Convenant Church are some of the churches located in Sioux Falls. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.

Sioux Falls is home to the Elmwood Golf Course and the Cactus Hills Country Club as well as Pioneers of Minnehaha County Monument and Picasso Park. Visitors to Sioux Falls can choose from Kelly Inn, Fairfield Inn Sioux Falls and Albert House for temporary stays in the area.