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Average Cost Estimators Salary in Richmond, VA

Cost Estimators in Richmond, VA, earn an average annual salary of $74,150. This figure is notably below the national average of $83,140, suggesting that local market dynamics and potentially a different industry mix influence compensation in the Virginia capital. While the nominal salary may seem lower, it's crucial to consider the local economic landscape.

Executive Summary

  • Average Salary: $74,150 per year.
  • Growth Trend: Salaries have shifted 17.5% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $110,810.
  • Outlook: Richmond, VA, supports a dedicated workforce of 1,150 Cost Estimators. With a Location Quotient of 1.23, the concentration of these professionals in Richmond is higher than the national average, indicating a specialized demand within the local economy. The presence of 1.754 jobs per 1,000 workers further underscores a robust, albeit niche, job market for this profession.
2024 Market Data

Salary Overview

$74,150

The average Cost Estimators in Richmond, VA earns-10.8%below the national average.

BreakdownBased on 40h/week
Hourly

$35.7

Weekly

$1,426

Monthly

$6,179

Cost Estimators Salary Distribution in Richmond, VA

The career path for Cost Estimators typically involves significant salary progression with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive project portfolios and specialized knowledge can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies substantial career advancement opportunities and increased earning potential.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$41,600$20
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$55,613$26.7
ManagerOversees team, compliance, and project delivery.50% (Median)$69,340$33.3
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$92,688$44.6
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$110,810$53.3

Detailed Cost Estimators Market Analysis

Relocation Context

Nominal Salary

$74,150

Gross Pay

Real Wage (Purchasing Power)

$74,150

Adjusted for COL (100)

The average annual salary of $74,150 in Richmond, VA, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Cost Estimator's salary in Richmond is equivalent to the national average, offering a stable financial standing relative to the cost of goods and services.

Job Market Context

1,150

Total Jobs

1.754

Per 1K Jobs

1.23

Location Quotient

Above Average

With a location quotient of 1.23, Richmond, VA has a slightly higher-than-average concentration of Cost Estimators roles compared to the national norm.

Richmond, VA, exhibits a higher concentration of Cost Estimators than the national average, as indicated by a Location Quotient of 1.23. This suggests that the demand for these professionals is relatively strong within the local market, potentially leading to competitive opportunities for skilled individuals. While not saturated, the market shows a clear presence and need for this specialized role.

Nearby Job Markets

Nearby Cities for Cost Estimators

CitySalaryDist.
Southside Virginia nonmetropolitan area Cost Estimators Salary$66,370↓ 10%41 mi
Northern West Virginia nonmetropolitan area Cost Estimators Salary$80,200↑ 8%41 mi
Southwest Virginia nonmetropolitan area Cost Estimators Salary$62,210↓ 16%41 mi
Northwest Virginia nonmetropolitan area Cost Estimators Salary$67,100↓ 10%41 mi
Southern West Virginia nonmetropolitan area Cost Estimators Salary$64,960↓ 12%41 mi

Comparing salaries near Richmond, VA

Hiring Cost Estimatorss?

Frequently Asked Questions

How much does a Cost Estimators make in Richmond, VA?

The median annual salary for a Cost Estimators in Richmond, VA is $74,150. This typically ranges from $41,600 for entry-level positions to $110,810 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Richmond, VA is 10.8% lower than the national median of $83,140.

Is Richmond, VA a lucrative place for Cost Estimators?

Yes, with a caveat regarding national comparison.Richmond, VA, offers a competitive salary for Cost Estimators that aligns with the national cost of living. While the average salary is below the national average, the strong local concentration and demand indicate a stable and potentially growing market.

Is Richmond, VA a good place to live for Cost Estimators?

The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Richmond, VA?

Some top paying nearby cities include Southside Virginia nonmetropolitan area ($66,370) and Northern West Virginia nonmetropolitan area.

What is the average salary for a Cost Estimator in Richmond, VA?

The average annual salary for a Cost Estimator in Richmond, VA, is $74,150.

How does Richmond's Cost of Living compare to the national average?

Richmond, VA, has a Cost of Living Index of 100, which is exactly the national average.

Is the demand for Cost Estimators high in Richmond, VA?

Yes, the Location Quotient of 1.23 indicates a higher concentration of Cost Estimators than the national average, suggesting strong local demand.

How many Cost Estimators are there in Richmond, VA?

There are approximately 1,150 Cost Estimators working in the Richmond, VA area.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,150 employees in the Richmond, VA area with a job density of 1.754 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Cost Estimators • Data source: BLS OEWS 2024 •Jobs in Richmond, VA