According to data from the US Bureau of Labor Statistics, the average salary for Cost Estimators is $73,740 per year, while Payroll Workers earn an average of $49,560 per year. As a result, Payroll Workers earn a much lower salary than Cost Estimators.
However, it's important to keep in mind that the salary of an employee can be influenced by factors such as location and experience. In particular, Cost Estimators working in Massachusetts (with a salary of $101,750 on average) may earn more than those in Montana ($59,680). To provide another instance, Payroll Workers in Washington DC have an average wage that is 70% higher than those in South Carolina.
Cost Estimators vs Payroll Workers overview
Cost Estimators and Payroll Workers are two important jobs in the Specialty Trade Contractors and Professional, Scientific, and Technical Services industries respectively. Many people are interested in understanding the distinctions between these job titles, including the average earnings for each of them.
Cost Estimator job description
Cost Estimators prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
Cost Estimator education and experience
Most Cost Estimators (64%) have completed a Bachelor's Degree. But this field also includes some employees who have a Master's Degree (18%) and a Post-Secondary Certificate (9%). With regard to experience, 23% of Cost Estimator occupations require a 1 to 2 years of previous work-related experience. A smaller number of roles (18%) do not require any previous experience.
Cost Estimator average salary
Based on data from the US Bureau of Labor Statistics, 208,950 Cost Estimators were employed by the United States in 2021, and their average annual wage was $73,740. The lowest earning 10 percent made $38,880 or less, and the highest earning 10 percent made $115,690 or more per year. Compared to the previous year, the mean salary is up by 1.1%.
Do Cost Estimators make good money?
Cost Estimators usually receive good salaries, since their mean salary is about a quarter above the average wage in the United States ($58,260). Furthermore, they make about a quarter more than the mean earnings of the Specialty Trade Contractors industry ($58,590).
Cost Estimators usually receive good salaries, since their mean salary is about a quarter above the average wage in the United States ($58,260).
Cost Estimators job growth
In 2021, there have been 9,590 more Cost Estimator positions than the previous year across the nation, and that marks a rise of 4.8%. Over the past 3 years, job growth has averaged -0.3%.
Payroll Worker job description
Alternative names: Payroll and Timekeeping Clerks
Payroll Workers compile and record employee time and payroll data. May compute employees’ time worked, production, and commission. May compute and post wages and deductions, or prepare paychecks.
Payroll Worker education and experience
About a third of Payroll Workers have completed a Bachelor's Degree, 30% have a College Course Certificate, and 21% hold a High School Diploma. With regard to experience, about a half of Payroll Worker jobs require a 2 to 4 years of work-related experience. A smaller percentage of jobs (41%) require a previous experience of 1 to 2 years.
Payroll Worker average salary
As stated by the US Bureau of Labor Statistics, the United States employed 149,290 Payroll Workers in 2021, and the mean income they earned annually was $49,560. The bottom 10 percent had earnings of $30,240 or less, and the top 10 percent had earnings of $71,500 or more. The average salary marks an increase of 2.6% compared the previous year.
Do Payroll Workers make good money?
Payroll Workers salaries are typically not as good as those in other fields, as their average salary is 15% lower than the average wage in the United States ($58,260). Furthermore, they earn about a half less than the average wage of the Professional, Scientific, and Technical Services industry ($91,150).
Payroll Workers salaries are typically not as good as those in other fields, as their average salary is 15% lower than the average wage in the United States ($58,260).
Payroll Workers job growth
In 2021, there have been 15,420 more Payroll Worker positions than the previous year nationwide, which marks a rise of 11.5%. Job growth has averaged 1.5% for the last 3 years.
FAQ
Do Cost Estimators or Payroll Workers make more?
The average earnings of Cost Estimators are about a half higher than those of Payroll Workers. The average annual pay for Payroll Workers is $49,560, compared to $73,740 for Cost Estimators.