How realistic is it for Cost Estimators to actually work from home?
What if you could swap your office for your living room (or better yet, a home office)? What if you could eliminate the daily commute and instead invest that time into something productive or enjoyable? It’s not a dream anymore.
So, how do you transition to this new way of working?
How can you stay connected with your team remotely?
What about maintaining your productivity levels?
And the most important question – how to balance work and life when they’re happening in the same space?
You must be itching to find out, right?
Whether you’re a freelancer looking for a change, a job seeker trying to break into the remote job market, a new graduate seeking a career with flexibility, or an entrepreneur or employer planning to go remote, this guide has got everything you need to know. So, buckle up. We’re about to delve into the uncharted territory of remote work for Cost Estimators.
Is Remote Work Or Work From Home Possible For Cost Estimators?
Yes, Cost Estimators, those indispensable figures crunching numbers to estimate how much projects will cost, can definitely work from home. Thanks to advanced project management tools and software, most of their tasks can be performed remotely. However, for specific industries where on-site inspections are necessary, a hybrid model might come into play.
There’s No Place Like Home, For Crunching Numbers
When it comes to the Nature of the Job, cost estimators typically work on computers analyzing data and preparing estimates. Since this doesn’t require a magic wand (or even a fancy calculator), the home environment can be a perfect fit. And for those tricky on-site assessments, the hybrid model steps in, like a hero in a cowboy hat.
Not Your Grandmother’s Abacus
With the current Technology and Infrastructure, cost estimators can tap into software like CostX or PlanSwift right from their home office. And with video conferencing tools, site visits can often be done virtually. Just remember to mute your microphone when the dog barks!
Reading the Regulatory Tea Leaves
On the Regulations and Policies front, remote work is becoming more accepted across industries. It’s essential, however, to maintain data privacy and ensure secure online connections. After all, no one wants their meticulously calculated estimates to turn into a public spectacle!
Character is King
Successful remote work comes down to the Skills and Characteristics of Workers. Adept cost estimators will need to be self-starters, disciplined, and excellent communicators. Having an eye for detail doesn’t hurt either. It’s like spotting the difference between a 10-gallon and a 12-gallon hat – they may seem the same, but the details make a world of difference!
The Work-Life Seesaw
The Work-Life Balance aspect is a biggie. Remote work can provide cost estimators with the flexibility to balance work and personal commitments, without the stress of commuting. No more fighting traffic, just the occasional battle with a stubborn spreadsheet.
The Estimator Abroad
Lastly, the Suitability for Digital Nomad Lifestyle is reasonably high for cost estimators. As long as they can connect to their project databases and video conferencing tools, the world can be their oyster. Or, in this case, their open office!
Cost Estimators: The Fortune Tellers of Finance
Forget crystal balls and tarot cards. The real fortune tellers of the business world are Cost Estimators. They’re the masterminds who can predict the cost of a project before it even kicks off. Think you’ve got the analytical acumen and razor-sharp insight for the job? Read on!
Data Whisperers: Collecting and Analyzing Data
First off, you’ll morph into a Data Whisperer, collecting and analyzing data. It’s like being a detective, sifting through every scrap of data to find those golden nuggets of cost information.
Blueprint Boffins: Reading Technical Documents
Next, you’ll become a Blueprint Boffin. Here, you’re reading technical documents like blueprints and plans. You’re Sherlock Holmes, deciphering the secret language of project plans and specs.
Number Ninjas: Creating Cost Estimates
Ready to don your black belt as a Number Ninja? In this role, you’ll be creating cost estimates that can make or break a project. Your estimates aren’t just guesstimates; they’re precise predictions based on hardcore number crunching.
Strategy Sages: Recommending Ways to Reduce Costs
Enter the Strategy Sage, where you’ll be recommending ways to reduce costs. You’re not just about predicting costs, you’re also about slashing them. Like a financial samurai, but with a calculator instead of a katana.
Consultation Champions: Consulting with Industry Professionals
Lastly, as a Consultation Champion, you’ll be consulting with industry professionals to get the inside scoop on costs. Networking isn’t just for LinkedIn, my friend. In the world of cost estimation, it’s part of the gig.
So, if you’ve got a head for numbers, an eye for detail, and the strategic sense of a chess grandmaster, then Cost Estimator could be your winning move. Checkmate!
Cost Estimators: What Kind Of Background Do You Need To Do This Job?
In this digital age, opportunities to work from home are more abundant than ever before, spanning across various industries and professions, but what kind of background do you need for this kind of work?
Cost Estimators: Keen on preparing cost estimates for product manufacturing, construction projects, or services to aid management in bidding or determining price of product or service? A bachelor’s degree in a related field is usually required. Certifications such as Certified Cost Professional (CCP) can boost career prospects. Staying abreast of industry trends is key.
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How Much Do Cost Estimators Make?
In order to gain a comprehensive understanding of what working from home as a Cost Estimators may look like, it’s essential to delve into the financial aspects of the role. Remuneration can vary greatly depending on various factors like the level of experience, geographical location, and the size of the employing organization.
As of the most recent data published by the U.S. Bureau of Labor Statistics(1) there are roughly 225,310 Cost Estimators currently in the workforce.
Next up, let’s take a look at the salary distribution for Cost Estimators, providing information on both hourly and annual wages. Whether you’re just starting out or you’ve been in the field for a while, the information here can help you get a sense of the earning potential in this role. The wage information is broken down by percentiles, giving a comprehensive view of the earning potential across the spectrum from beginners to seasoned professionals.
The following table represents a comparison of wages:
| Percentile & Measure | Annual Wage |
|---|---|
| Average | $76,740 |
| 10th Percentile | $42,110 |
| 25th Percentile | $53,080 |
| Median | $71,200 |
| 75th Percentile | $93,420 |
| 90th Percentile | $120,600 |
The 10th percentile represents the lower end of the wage scale, indicating that 10% of Cost Estimators earn this amount or less. On the other hand, the 90th percentile represents the higher end of the wage scale, meaning that only 10% of Cost Estimators earn more than this amount. The median wage, also known as the 50th percentile, represents the middle point in the wage distribution, with half of the Cost Estimators earning less than this amount and the other half earning more.
These figures offer an insightful look at the potential earnings for Cost Estimators across the spectrum of experience and skill level, painting a realistic picture of what one might expect to earn in this role.
Where to Search For Remote & Work From Home Jobs for Cost Estimators
Cost Estimators of all kinds have learned the benefits of working from home. But how do you find one of these great gigs to serve in a remote role?
Remote teams are everywhere and companies across the spectrum are hiring for these jobs remotely. The good new for Cost Estimators is that the demand for their skills is plentiful.
Here are some places where you might find remote jobs:
FlexJobs
FlexJobs is great because it has a variety of remote job listings for Cost Estimators and more.
Remote OK
Remote OK is an online community dedicated to helping people find remote jobs. It features thousands of remote jobs including jobs for Cost Estimators, as well as career advice and tips.
https://remoteok.com/
Upwork
Upwork is one of the largest online marketplaces for freelancers, offering tens of thousands of jobs for Cost Estimators of all kinds. Upwork connects employers with freelancers all over the world, so you can easily find work remotely.
LinkedIn is commonly known for its more traditional approach because anyone who’s anyone with career ambitions is active there. What a lot of people don’t know is that it can be a great place for professional networking and finding opportunities for Cost Estimators. There are many remote jobs available on LinkedIn.
TopTal
Toptal is a leading platform for high quality freelance talent around the globe. Toptal helps businesses source exceptional Cost Estimators, and more.
Authentic Jobs
Authentic Jobs was started was started by Cameron Moll in 2005 because he had so much demand for connections to talented people and what started as a small side project has become something entirely its own and could be a great spot to find remote work opportunities for Cost Estimators.
Remote Tech Jobs
Remote Tech Jobs is another great site where you can search through hundreds of remote jobs, even for Cost Estimators. They offer a number of different categories, for all kinds of roles for Cost Estimators.
https://www.remotetechjobs.com/
Working Nomads
Working Nomads provides curated lists of the best remote jobs in a variety of different of different professional-level, tech industry related career fields. Their strength is their ability to connect remote workers looking for flexible opportunities with innovative companies offering independent jobs.
https://www.workingnomads.com/jobs
We Work Remotely
We Work Remotely is an online community and fantastic resource for finding work as a software developer to work with remote teams. In addition, if you’re doing some research into the remote work possibilities, We Work Remotely keeps a list of the top 100 remote companies and companies that are entirely remote.
Simply Hired
Simply Hired is a job board where you can find some great opportunities for remote jobs. SimplyHired hosts a database of remote jobs across various industries. You’ll find everything from entry level to senior level remote jobs here.
Career Builder
Career Builder is one of the oldest and most established employment sites on the internet. It has the largest market share by far in the United States where it was founded in 1995. Even though this is a traditional, old-school job board, there are a wealth of opportunities for remote developers to find a new job.
Indeed
Indeed.com is another old-school traditional source for remote software developers who may be looking for a more traditional employment model. Well established and widely trusted, Indeed is always a good place to check for tech industry jobs while you’re on your job hunt.
Pros & Cons of Working From Home for Cost Estimators
Not everything is all sunshine and roses, right? Yes – there are a lot of pros, but there are also cons for Cost Estimators working from home; let’s take a look.
Remote working pros for employees
- Flexibility: Working from home allows for a flexible schedule. You can arrange your workday around your most productive times and manage personal responsibilities more effectively. You decide when you’re going to wake up, how you get to enjoy your coffee, and when you need a break (not when you’re told to take a break).
- No commute: Eliminating a daily commute can save significant time, reduce stress, and decrease transportation expenses. On average, Americans spend 27 minutes on their daily commute to work, with 14 million of the same study group having over one hour of commute time. (1) Once that’s averaged over how many days you go to work per year, it’s an astronomical figure.
- Cost savings: Along with saving on commuting costs, you also save on expenses such as eating out, professional attire, and childcare. The financial impact can vary from person to person, of course, but going to the office can include hidden fees that add up. You’re cutting down on transportation costs, such as gas, tolls, public transit, and vehicle maintenance. Plus, you’re removing that pesky temptation to hit the burger joint during lunch.
- Increased productivity: Many people report increased productivity when working from home due to fewer distractions and interruptions, and the ability to create a work environment that suits their preferences.
- Better work-life balance: Working remotely can make it easier to balance your work and personal life, particularly if your employer allows for a flexible schedule.
- Health and wellness opportunities: You can have more opportunities to incorporate healthy habits into your day, like preparing home-cooked meals and fitting in exercise during break times.
- Home Office, Living Room Couch or Coffee Shop: You get the benefit of deciding where you’re going to work. In the office, you may be in a cubicle, or near the heater, which might not be ideal for you. But, the coffee shop, library, or your balcony, may be optimal for you.
Remote Working Cons For Employees
- Isolation: Working from home can be lonely, as it limits face-to-face social interaction with colleagues. This can lead to feelings of isolation and disconnect, plus, you miss out on company culture and it’s hard to overestimate how important this can be. Some companies are known for their great culture that makes them special. If you don’t experience this culture, then you’re missing out on something valuable.
- Blurred boundaries between work and personal life: Without a clear division between your work and personal environment, it can be challenging to ‘switch off’ and stop working, which could lead to overworking and burnout. Your home life and office life are now combined. You often hear the phrase “keep your personal life out of work, and work-life out of your personal life”. This can cause an imbalance in your family life.
- Distractions: Although there may be fewer interruptions from colleagues, home distractions can affect productivity – think children, pets, household chores, or noise from neighbors.
- Communication challenges: While technology helps bridge the communication gap, it can’t entirely replace face-to-face communication. Misunderstandings can occur more often due to the lack of non-verbal cues. Communication can be delayed. You’re now on your own; the colleague that used to be right next to you might begin and finish their remote day differently than you.
- Technological issues: Remote work requires reliable internet and appropriate devices. Not everyone has access to a reliable internet connection or high-performance equipment, and troubleshooting tech problems can be more difficult when you’re not in the office. Plain and simple, we’re all not computer experts, and the tech team won’t be showing up at your front door. There are many tech problems that can occur at home – the wifi goes down, your laptop breaks or your dog chews up your charging cable.
- Career progression concerns: Some employees might fear they’ll be ‘out of sight, out of mind’ and miss out on opportunities for advancement or professional development. Career growth is widely “hire from within” for most companies. You’re losing the benefit of professional growth by removing in-person interactions.
- Health challenges: Your physical health can suffer. It’s a lot easier to work longer hours and spend a lot of time – a lot more time – at your desk than you normally would.
Previously, it was believed the at-home employee would be riddled with distractions – blowing off meetings, not hitting deadlines, and a drop in productivity. In reality, it was the opposite.
Remote Working Pros For Employers
There are plenty of reasons why remote working is becoming increasingly popular among businesses.
- The productivity of in-office work compared to at-home work is impressive. A study conducted by UC Irvine showed, office workers, are interrupted every 11 minutes. Then having a rebound time of 25 minutes, to get back on task. Removing the simple distraction of co-workers increased productivity by 13% according to a Stanford study and increased 22% when participants were allowed to choose between working from home or the office. (6) By removing distractions, the employee is given less of an opportunity to wander off task, and this creates a higher focus. A higher focus inevitably creates an increased pace of productivity.
- When employees are in the office, management has a tendency to micromanage which is a huge distraction factor.
- Remote work creates an opportunity for office downsize. We no longer need a conference room to fit 25 employees, instead, only a zoom call.
- Being in an office increases the risk of exposure to illness. A survey created in 2021 says at least 50% of people are worried about being exposed to an illness in the workplace. (5) This is common after we just went through Covid 19. If an employee is at a lower risk of exposure, there’s less of a chance they’ll be using those sick days.
Remote Working Cons For Employers
The cons for an employer are all specific to each company. But as a general rule of thumb, not having a direct eye on your employees can ultimately create an issue.
- You’re forfeiting the opportunity to manage and delegate tasks to your employees. (2) Not all employees are the same. Some excel with a structure set in place so they can’t slack off.
- The task of communication is much easier when you just need to walk to an employee’s desk. You can’t guarantee an answer in a matter of minutes when you’re not in the same space as the employee.
- The financial aspect of needing a 2,000-square-foot office space can be debilitating. An office this size is no longer needed.
Mastering Mental Health and Work-Life Balance in the Remote Work Era
So how do Cost Estimators maximize the work from home opportunity? Here are 10 tips that Cost Estimators can implement to master the work-from-home life and thrive.
- Create a Dedicated Workspace: Design a productive environment that fuels creativity and focus. An area dedicated solely to work communicates to your mind that it’s ‘business time’ when you’re there. Learn how to setup and create your own home office space here.
- Establish Routines: Cultivate a rhythm to your day that separates ‘work time’ from ‘personal time’. This harmony aids in decreasing stress and enhancing productivity. Learn more about how to maximize routines for your work-life balance here.
- Stay Connected: Regularly engage with your team and colleagues virtually. Shared experiences and human connection combat feelings of isolation. Learn about making friends and maintaining relationships when working from home here.
- Prioritize Physical Exercise: Incorporate a regular exercise routine into your schedule. Physical wellness promotes mental sharpness and emotional stability. Keep reading about how to deal with boredom when you’re working from home here.
- Practice Mindful Eating: Nurture your body with healthy food choices. The quality of your fuel affects your energy levels and overall health.
- Embrace Breaks: Take short breaks to refresh your mind and body. These pauses can increase productivity and reduce stress.
- Set Achievable Goals: Use smart, measurable, achievable, realistic, and time-bound (SMART) goals to track progress and maintain motivation.
- Practice Mindfulness and Meditation: Regular mindfulness practices like meditation or deep-breathing exercises can reduce stress and enhance focus.
- Get Quality Sleep: Prioritize a full night’s rest. Quality sleep contributes to improved concentration, productivity, and overall health.
- Seek Support When Needed: Reach out to mental health professionals if you feel overwhelmed. It’s okay to seek help and support for maintaining your wellness and balance.
Related & Frequently Asked Questions
Still got questions about remote work? I’ve got answers. Here are some FAQs about working from for Cost Estimators.
Q: What type of equipment do I need for remote work?
A: It can vary based on your job role, but typically you’ll need a reliable computer, high-speed internet connection, a comfortable chair, and a desk. Some companies may also require specific software applications, a webcam for video meetings, or even a virtual private network (VPN) for secure access. Here’s a detailed guide on what you need to buy and download to be successful working from home.
Q: How can I avoid distractions when working from home? A: Set up a dedicated workspace and establish boundaries with those sharing your home. Use productivity tools to manage your tasks and break down your work into manageable chunks. Also, be sure to take regular short breaks to avoid burnout. Learn more about work from home etiquette for remote workers here.
Q: How can I stay productive while working remotely? A: Make a to-do list each day, prioritize tasks, and establish a consistent work routine. Utilize time management techniques like the Pomodoro technique, and don’t forget to take regular short breaks to recharge. Learn more about how to stay focused working from home here.
Q: How can I improve communication with my team while working remotely? A: Regular check-ins and updates are crucial. Make use of collaborative tools like Slack, Microsoft Teams, or Google Hangouts. Clear and concise communication is key. Keep learning about how managers can support their remote team here.
Q: What can I do if I feel isolated while working from home? A: Stay connected with your colleagues via virtual coffee breaks or team meetings. Also, consider joining online communities or groups of remote workers to share experiences and advice. Learn more about making friends and maintaining relationships when working from home here.
Q: How can I ensure that I’m not overworking? A: Set strict start and end times for your workday and take regular breaks. It’s also important to ‘switch off’ completely from work at the end of the day.
Q: How can I secure my data when working remotely? A: Use strong, unique passwords and enable two-factor authentication where available. Use a VPN if handling sensitive data and make sure your home WiFi network imans secure.
Q: How do I maintain a professional image while working from home? A: Dress appropriately for video calls, maintain a clean and professional background for video meetings, and ensure you’re punctual and prepared for all interactions.
Q: How can I create work-life balance when my home is my workplace? A: Set clear boundaries for your work and personal life. This can include a dedicated workspace and set work hours. Additionally, ensure you allocate time for self-care, hobbies, and family.
Q: How can I stay motivated while working from home? A: Set both short and long-term goals, maintain a positive mindset, reward yourself upon the completion of tasks, and remember to celebrate your achievements.
Next Steps
Connect with other freelancers, remote job seekers, remote work employers, entrepreneurs, and remote workers of all kinds and get more tips, tricks and hacks on the work-from-home life by joining my brand new free private Facebook group, Home Office Hacks. In this group you will be able to connect with other people sharing a similar experience as you!
Resources
- https://www.bls.gov/oes/tables.htm
- https://www.nextiva.com/blog/working-from-home-vs-office.html
- https://www.differencebetween.com/what-is-the-difference-between-work-from-office-and-work-from-home/
- https://hbr.org/2021/05/what-mix-of-wfh-and-office-time-is-right-for-you
- https://www.hi-reit.com/working-from-home-vs-office/
- https://www.gsb.stanford.edu/faculty-research/working-papers/does-working-home-work-evidence-chinese-experiment
