Cost Analysis Engineer

Occupation Information table
Overview: Cost analysis engineers work with product design engineers to choose the optimum combination of materials, methods & components that go into new products. They examine the components to determine whether the quality & purpose justify the cost. They recommend design changes where necessary.
Duties: Analyze and critique the components of products being designed by research and development engineers. They decide whether the individual components & products will meet quality & cost goals.

Conduct performance tests of product components to determine under what conditions they malfunction or fail. Tests are run under different temperatures, humidity and usage patterns.

They confer with human factors engineering psychologists to determine the 'user-friendliness' of a product, that is... how convenient it is to use.

Suggest to research and development engineers design changes or the substitution of product components to get the price down and the quality up.

Degree(s): A.S. Engineering Science 
Job Outlook: Employment in this field is expected have little or no change from 2018 to 2028. For comparison, the average growth rate for all occupations over the same time period is projected to be 5% to 8%.
Salary Range (National Average): $42,000 to $48,000
Education Level: Typically, a Bachelor’s Degree from a 4-year college (some are 5 years) is required to be considered for this occupation.
Additional Training/Education: A bachelor's degree in engineering is the usual requirement for an entry position, however, an associate degree in engineering is sometimes acceptable. Your choice of engineering courses depends upon the industry you consider. In the manufacturing industry, a mechanical or industrial engineering degree is appropriate, while in the construction industry, a civil engineering degree would be appropriate. A knowledge of statistical and computer applications is essential.
Advancement Info: With many years of experience, Cost Analysis Engineers can advance to working as chief estimators or project managers. Their best way to advance is through successful work where they gain a reputation for accuracy and integrity. This will allow them to have enough clients to be self-employed if they choose.
Recommended Skills:
  • Weighing out the options in a situation or a problem and logically choosing the best course of action.
  • Analyzing requirements for a new product or service and creating a design to satisfy those needs.
  • Using mathematics and/or statistics to solve problems.
  • Ability to identify a problem, review related information, develop and evaluate options, and implement a solution.
  • The ability to understand complex written paragraphs, instructions, or reports.
  • Using logic to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Using scientific methods to investigate and conduct experiments.
Recommended Values:
  • Being able to decide on how to get something done without significant direction from someone else.
  • Having a level of income that will afford you with luxuries, and which will allow you to become financially independent.
  • Create new ideas, programs, things, or anything else not previously developed by another person.
  • Having the ability to work with equipment or material things.
  • Doing something where you can physically see the results of your work.

* National data collected by the Department of Labor in 2014 with projections through 2024. For New York green job information .

* For New York salary data information .

* For New York green job information .

Understanding acquiring positions in this field may be enhanced through continuing academic study (i.e. earning a baccalaureate or a master's degree) and/or work experience in the field, Queensborough Community College has established transfer agreements with other institutions for students who wish to further pursue their educational goals. Students are highly encouraged to meet with one of our Career Services to fully understand the opportunities available through study in their degree program.