Average Cost Estimators Salary in New Jersey
Cost Estimators in New Jersey earn an impressive average annual salary of $89,320, surpassing the national average of $83,140. This elevated compensation is likely driven by the state's robust industrial sectors and a higher cost of living, necessitating competitive pay to attract and retain skilled professionals in this critical role.
Executive Summary
- Average Salary: $89,320 per year.
- Growth Trend: Salaries have shifted 17.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $140,030.
- Outlook: With a local workforce of 5,130 Cost Estimators, New Jersey demonstrates a significant presence in this field. The Location Quotient of 0.85 suggests a market that is nearly on par with the national average in terms of concentration, indicating a stable and consistent demand for these professionals within the state's economic landscape.
Salary Overview
The average Cost Estimators in New Jersey earns+7.4%above the national average.
$42.9
$1,718
$7,443
Cost Estimators Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Cost Estimators in New Jersey have experienced steady growth over the past four years, mirroring national trends. Factors such as inflation, increasing project complexity, and the demand for accurate cost analysis in a dynamic economy typically contribute to upward salary adjustments.
Cost Estimators Salary Distribution in New Jersey
Salary progression for Cost Estimators in New Jersey typically scales significantly with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive project experience and specialized knowledge can command salaries in the upper percentiles. These percentile gaps clearly signify the career trajectory and increased earning potential available within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $47,510 | $22.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $66,990 | $32.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $80,880 | $38.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $111,650 | $53.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $140,030 | $67.3 |
Detailed Cost Estimators Market Analysis
Relocation Context
Nominal Salary
$89,320
Gross Pay
Real Wage (Purchasing Power)
$79,466
Adjusted for COL (112.4)
While the nominal salary of $89,320 is attractive, New Jersey's Cost of Living Index of 112.4 indicates that expenses are approximately 12.4% higher than the national average. Therefore, while the salary is above the national average, the purchasing power of this income needs to be considered in the context of higher local living costs.
Job Market Context
5,130
Total Jobs
1.207
Per 1K Jobs
0.85
Location Quotient
New Jersey has 0.85x the national average concentration of Cost Estimators jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.85 suggests that Cost Estimators are slightly less concentrated in New Jersey compared to the national average. This indicates a job market that is neither oversaturated nor exceptionally scarce, presenting a balanced environment for job seekers and employers alike, with opportunities available but not overwhelmingly competitive.
Nearby Job Markets
Nearby Cities for Cost Estimators
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Cost Estimators Salary | $82,760↓ 7% | 14 mi |
| New York-Newark-Jersey City, NY-NJ Cost Estimators Salary | $99,570↑ 11% | 39 mi |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Cost Estimators Salary | $84,310↓ 6% | 42 mi |
| Allentown-Bethlehem-Easton, PA-NJ Cost Estimators Salary | $79,500↓ 11% | 54 mi |
| Vineland, NJ Cost Estimators Salary | $86,700↓ 3% | 63 mi |
Comparing salaries near New Jersey
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Frequently Asked Questions
How much does a Cost Estimators make in New Jersey?
The median annual salary for a Cost Estimators in New Jersey is $89,320. This typically ranges from $47,510 for entry-level positions to $140,030 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Jersey is 7.4% higher than the national median of $83,140.
Is New Jersey a lucrative place for Cost Estimators?
Yes, New Jersey offers a lucrative environment for Cost Estimators.The average salary of $89,320 significantly exceeds the national average, and despite a higher cost of living, the nominal pay provides a strong financial standing.
Is New Jersey a good place to live for Cost Estimators?
The Cost of Living Index in New Jersey is 112.4. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New Jersey?
Some top paying nearby cities include Trenton-Princeton, NJ ($82,760) and New York-Newark-Jersey City, NY-NJ.
How does the number of Cost Estimators in New Jersey compare nationally?
New Jersey employs 5,130 Cost Estimators, which, relative to its workforce size and the national average concentration (LQ of 0.85), represents a substantial and stable presence in the field.
What is the impact of New Jersey's cost of living on a Cost Estimator's salary?
With a Cost of Living Index of 112.4, expenses in New Jersey are higher than the national average. The $89,320 salary offers a good standard of living, but it's important to factor in these increased costs when evaluating net disposable income.
Are there many job opportunities for Cost Estimators in New Jersey?
The market appears balanced, with 1.207 jobs per 1,000 workers and a Location Quotient of 0.85, suggesting consistent demand without extreme competition, making it a favorable market for skilled professionals.
How much more can an experienced Cost Estimator earn in New Jersey?
While specific figures vary, experienced Cost Estimators typically earn significantly more than entry-level professionals, with salary potential reaching into the higher percentiles, reflecting increased responsibility and expertise.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 5,130 employees in the New Jersey area with a job density of 1.207 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 New Jersey