Is Estimating a Good Career choice for Construction Graduates?
Estimating is a career in the construction sector that involves calculating the potential costs of construction projects. To do that, estimators, sometimes called construction estimators, cost engineers, or cost planners, usually take into account the cost of labour, materials, and equipment required for the successful completion of the project. They'll also have to negotiate with relevant suppliers and get quotes from subcontractors in order to come up with a detailed cost proposal for the project. In this blog post, we'll try to answer the question, "Is estimating a good career choice for graduates?" by discussing the benefits of pursuing a career in it.
Reasons Why Estimating Is a Good Career Choice for Construction Graduates
Here are the five reasons why estimating is a strong career choice worth pursuing:
High in Demand
Estimating is an in-demand occupation and will continue to be so. According to the United States Bureau of Labor Statistics, there will be about an average of 18,000 openings for cost estimators each year over the next decade, from 2022 to 2032. These openings would become available due to the need for replacements for workers who move to other occupations or retire. In Australia, a total of 4,600 people are currently employed as cost estimators in the country, with 79,300 others working as architectural, building, and surveying technicians, the parent occupation, which is projected to grow by 11.9%. With many of those within the profession leaving the industry due to retirement, there is high demand for the next wave of estimators to join the industry. Overall, the construction industry is also expected to grow in the coming years, creating more job opportunities.
Low Barriers to Entry
Estimating is a career with low barriers to entry because you don't necessarily need to have a degree to be an estimator. In general, the best estimators will have some form of qualification to accompany their experience; however, this isn’t a definitive requirement. You can explore a career in estimating by taking a university or college course in quantity surveying, civil engineering, construction management, or simply completing an apprenticeship with a construction firm. Some of the best estimators come from “on the tools” experience, where you gain an incredible understanding of construction techniques and methodologies. Therefore, a cheaper way of becoming an estimator (as opposed to gaining lots of debt through university) is by doing an internship or apprenticeship within a construction company. One of the benefits of this is that you get paid to learn!
Good Remuneration
Because estimators are always in high demand, they're usually well remunerated. For example, newly trained estimators in Australia can earn between $70,000 and $100,000 per year. Intermediate estimators can earn from $120,000 to $200,000, and senior estimators can earn well over $200,000–$300,000 per year, depending on the company size and structure. In the U.S., for example, the average annual salary for a cost estimator is $80,654 as of Nov. 5, 2023, according to ZipRecruitere job board. This is the equivalent of $38.78 an hour, $1,551/week, or $6,721/month. With the recent cost of living crisis, inflation, and life in a post-pandemic world, the price to “build” has grown exponentially. Therefore, good estimators are more in demand than ever before.
Career Progression
Estimating is one of the best careers to build a “foundation.” Knowing the price of materials and labour and developing relationships with sub-contractors allows a strong estimator to move into a variety of positions, such as estimation management, pre-construction management, commercial management, or project management. Usually, to develop into these careers, the estimator may need some form of formal qualification, like a bachelors in construction management or a postgraduate diploma in construction economics or project management.
Less requirements to travel = more family life
Estimating is usually an office job, and there's no need to travel around the country, unlike construction managers, whose jobs are somewhat more transient and the demands for travel are higher. Because of that, estimating can be somewhat more enticing for those who require being home each day, such as those with family. It doesn’t mean it’s stress-free. Being an estimator can be a thankless task; however, jobs in construction that are always in demand, offering very good salaries and with no travel are rare, and job security offers those within the profession a lot of certainty and safe proofing.
In summary, estimating is an in-demand occupation with low barriers to entry, as you don't need a degree to be an estimator. Estimators earn a decent income, have a good career path and progression, and work in the office. So, the answer to the question, "Is estimating a good career choice for graduates?" is yes, and it's definitely a profession worth pursuing. Give it a try today, and you'll never regret it!
How GEDON Executive Recruitment Can Help
GEDON Executive Recruitment is a niche staffing and recruiting business in the hyper-niche pre-construction and cost management segments of the construction sector throughout Australia, New Zealand, and the USA. With over a decade of recruiting experience at a global level, we’ve built an amazing ecosystem of experienced candidates across the United Kingdom, Ireland, New Zealand, Australia, and the USA. With the talent shortage so severe in the pre-construction, cost, and project advisory industries, our network of renowned and respected professionals will benefit every company in these areas and beyond. We help job seekers in the construction industry brush up their resumes, connect with prospective employers, and land their dream jobs. For more information, please contact us.
