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Career and Education Opportunities for Cost Analysts in Amarillo, Texas

For those living in the Amarillo, Texas area, there are many career and education opportunities for cost analysts. There are currently 15,070 working cost analysts in Texas; this should grow 29% to about 19,360 working cost analysts in the state by 2016. This is better than the nation as a whole, where employment opportunities for cost analysts are expected to grow by about 25.3%. 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 approximately $26 hourly or $55,070 yearly on average in Texas. Nationally they average about $27 per hour or $56,510 per year. Incomes for cost analysts are better than in the overall category of Adjustment and Analysis in Texas, and better than the overall Adjustment and Analysis category nationally. People working as cost analysts can fill a number of jobs, such as: job cost estimator, estimator, and building construction estimator.

The Amarillo area is home to six schools of higher education, including three within twenty-five miles of Amarillo 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

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 Amarillo 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

Amarillo College - Amarillo, TX

Amarillo College, 2011 S. Washington, Amarillo, TX 79109. Amarillo College is a large college located in Amarillo, Texas. It is a public school with primarily 2-year programs and has 10,118 students. Amarillo College has less than one year, one to two year, and associate's degree programs in Business Administration and Management which graduated two, nine, and eighty-seven students respectively in 2008.

Frank Phillips College - Borger, TX

Frank Phillips College, 1301 W. Roosevelt St., Borger, TX 79008-5118. Frank Phillips College is a small college located in Borger, Texas. It is a public school with primarily 2-year programs and has 1,244 students. Frank Phillips College has 2 areas of study related to Cost Analyst. They are:

  • Business/Commerce, associate's degree which graduated 3 students in 2008.
  • Business Administration and Management, less than one year and associate's degree which graduated one and zero students respectively in 2008.

West Texas A & M University - Canyon, TX

West Texas A & M University, 2501 4th Ave, Canyon, TX 79016-0001. West Texas A & M University is a medium sized university located in Canyon, Texas. It is a public school with primarily 4-year or above programs. It has 7,552 students and an admission rate of 66%. West Texas A & M University has 3 areas of study related to Cost Analyst. They are:

  • Mechanical Engineering, bachelor's degree.
  • Business/Commerce, bachelor's degree which graduated 2 students in 2008.
  • Business Administration and Management, bachelor's degree and master's degree which graduated zero and eighty 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: Amarillo, Texas

Amarillo, Texas
Amarillo, Texas photo by Anonymous Cow

Amarillo is situated in Potter County, Texas. It has a population of over 187,236, which has grown by 7.8% in the past ten years. The cost of living index in Amarillo, 79, is well below the national average. New single-family homes in Amarillo are priced at $245,400 on average, which is far greater than the state average. In 2008, four hundred seventy-one new homes were constructed in Amarillo, down from six hundred forty-eight the previous year.

The three most popular industries for women in Amarillo are health care, educational services, and accommodation and food services. For men, it is construction, accommodation and food services, and food. The average commute to work is about 17 minutes. More than 20.5% of Amarillo residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 6.8%, is lower than the state average.

The unemployment rate in Amarillo is 5.4%, which is less than Texas's average of 8.1%.

The percentage of Amarillo residents that are affiliated with a religious congregation, 86.4%, is more than both the national and state average. Pentecostal Church of God, Pentecostal Church of God in Christ and Pentecostal Holiness Church are among the churches located in Amarillo. The largest religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Amarillo is home to the Amarillo Globe Dream House and the Wolflin Historic District as well as Martin Road Park and Will Rogers Park. Shopping malls in the area include Western Plaza Shopping Center and Westgate Shopping Center. Visitors to Amarillo can choose from 3B Machine & Custom Fabrication, Bailey's Lounge and Comfort Inn Airport for temporary stays in the area.