Average Cost Estimators Salary in Fargo, ND-MN
Cost Estimators in Fargo, ND-MN earn an average annual salary of $71,940, which is below the national average of $83,140. This localized pay difference is often influenced by regional economic factors, industry demand specific to the area, and the overall cost of doing business within the Fargo metropolitan area.
Executive Summary
- Average Salary: $71,940 per year.
- Growth Trend: Salaries have shifted 3.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $99,930.
- Outlook: The Fargo, ND-MN market for Cost Estimators appears robust, evidenced by a local workforce of 300 professionals and a Location Quotient of 1.44. This quotient, significantly above the national average of 1.0, suggests a higher concentration of these roles in Fargo relative to the rest of the country, indicating a potentially strong demand and stable job market for this profession.
Salary Overview
The average Cost Estimators in Fargo, ND-MN earns-13.5%below the national average.
$34.6
$1,383
$5,995
Cost Estimators Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Cost Estimators in Fargo have experienced growth over the past four years, mirroring national trends. Economic development and increased construction or project management activities within the region would typically drive up demand and, consequently, compensation for skilled professionals in this field.
Cost Estimators Salary Distribution in Fargo, ND-MN
Salary progression for Cost Estimators in Fargo, ND-MN, typically scales with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with extensive project experience and specialized knowledge can command significantly higher salaries, often reaching into the upper percentiles. The gap between entry-level and senior roles signifies substantial career growth opportunities and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,090 | $23.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $53,955 | $25.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $67,080 | $32.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $89,925 | $43.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $99,930 | $48 |
Detailed Cost Estimators Market Analysis
Relocation Context
Nominal Salary
$71,940
Gross Pay
Real Wage (Purchasing Power)
$71,940
Adjusted for COL (100)
The nominal average annual salary of $71,940 for Cost Estimators in Fargo aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that while the salary is lower than the national average, the purchasing power of that salary in Fargo is equivalent to the national average, offering a stable financial standing relative to living expenses.
Job Market Context
300
Total Jobs
2.047
Per 1K Jobs
1.44
Location Quotient
With a location quotient of 1.44, Fargo, ND-MN has a slightly higher-than-average concentration of Cost Estimators roles compared to the national norm.
With a Location Quotient of 1.44, Fargo, ND-MN demonstrates a notably higher concentration of Cost Estimators compared to the national average. This suggests that the job market in Fargo is relatively more abundant in these roles, potentially indicating a competitive environment for job seekers but also a strong presence of industries that rely heavily on cost estimation expertise.
Nearby Job Markets
Nearby Cities for Cost Estimators
| City | Salary | Dist. |
|---|---|---|
| Grand Forks, ND-MN Cost Estimators Salary | $79,230↑ 10% | 74 mi |
Comparing salaries near Fargo, ND-MN
Hiring Cost Estimatorss?
Frequently Asked Questions
How much does a Cost Estimators make in Fargo, ND-MN?
The median annual salary for a Cost Estimators in Fargo, ND-MN is $71,940. This typically ranges from $48,090 for entry-level positions to $99,930 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Fargo, ND-MN is 13.5% lower than the national median of $83,140.
Is Fargo, ND-MN a lucrative place for Cost Estimators?
No, not more lucrative than the national average.While the average salary of $71,940 is substantial, it falls below the national average of $83,140. However, the cost of living being at the national average means the salary's purchasing power is equivalent.
Is Fargo, ND-MN a good place to live for Cost Estimators?
The Cost of Living Index in Fargo, ND-MN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Fargo, ND-MN?
Some top paying nearby cities include Grand Forks, ND-MN ($79,230) and others.
How does the number of Cost Estimators in Fargo compare nationally?
Fargo has a total local workforce of 300 Cost Estimators, with 2.047 jobs per 1,000 workers, indicating a significant presence relative to its population size.
What is the significance of the Location Quotient for Cost Estimators in Fargo?
A Location Quotient of 1.44 means that Cost Estimators are 44% more concentrated in Fargo than the national average, suggesting a specialized demand for this role in the region.
Does experience significantly impact a Cost Estimator's salary in Fargo?
Yes, experience is a key driver of salary increases, with senior Cost Estimators earning considerably more than entry-level professionals, reflecting a clear career progression path.
How does Fargo's cost of living affect the salary of a Cost Estimator?
Fargo's Cost of Living Index of 100 means that the $71,940 salary offers the same purchasing power as the national average salary would in a national average cost of living area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 300 employees in the Fargo, ND-MN area with a job density of 2.047 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Cost Estimators • Data source: BLS OEWS 2024 •Jobs in Fargo, ND-MN