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Cost Engineer III Salary in the United States

How much does a Cost Engineer III make in the United States?

As of August 01, 2026, the average salary for a Cost Engineer III in the United States is $108,601 per year, which breaks down to an hourly rate of $52.

However, a Cost Engineer III's salary can vary significantly. Here’s a look at the typical salary range:

  • Top Earners (90th percentile): $126,699
  • Majority Range (25th-75th percentile): $96,161 to $118,074
  • Entry-Level (10th percentile): $84,835
Salary Factors Salary-Boosting Skills Salary by Experience Related Job Salaries Top Paying Cities Explore Related Jobs

Key Factors That Influence Cost Engineer III Salaries

A Cost Engineer III's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.

How Experience Level Affects Cost Engineer III Salaries?

Experience is a primary driver of a Cost Engineer III's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:

  • Cost Engineer I (0-2 years): $70,702
  • Cost Engineer II (2-4 years): $86,385
  • Cost Engineer III (4-7 years): $108,601
  • Cost Engineer IV (7+ years): $131,818
  • Cost Engineer V (7-10 years): $155,328
Job Role Years of Experience Average Salary
Cost Engineer I0-2 years$70,702
Cost Engineer II2-4 years$86,385
Cost Engineer III4-7 years$108,601
Cost Engineer IV7+ years$131,818
Cost Engineer V7-10 years$155,328
View as Graph

How Do Cost Engineer IIIs Salaries Vary from State to State?

Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Cost Engineer IIIs. For example, consider the average annual salaries in these key locations:
  • District of Columbia: $120,243.
  • California: $119,787.
  • Massachusetts: $118,190.

Top Paying Cities for Cost Engineer III

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

  • San Jose: $136,978
  • San Francisco: $135,479
  • Oakland: $132,624

What Skills Can Increase a Cost Engineer III's Salary?

Demanded Skills for the Role:

  • Analysis (Mentioned in 8.58% Job Postings): Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
  • Construction Accounting (Mentioned in 2.97% Job Postings): A form of project accounting applied to construction projects. Construction accounting is a vitally necessary form of accounting, especially when multiple contracts come into play.
  • KPI (Mentioned in 1.98% Job Postings): KPI stands for key performance indicator, a quantifiable measure of performance over time for a specific objective.
Skills Demand Percentage
Analysis 8.58%
Construction Accounting 2.97%
KPI 1.98%
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What skills can make your compensation higher?

Mastering certain specialized skills can lead to a significant increase in pay. Here are examples of skills and the potential impact they can have on a Cost Engineer III's salary.

  • ERP Systems: Can increase your salary by up to 15%.
  • Prototyping: Can increase your salary by up to 13%.
  • Program Management: Can increase your salary by up to 12%.
Skill Salary Salary % Increase
ERP Systems $124,891
15%
Prototyping $122,719
13%
Program Management $121,633
12%
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Cost Engineer III Salary by Company Size: Startups vs. Enterprise

Cost Engineer III salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $121,573. While startup companies pay approximate $102,848.

Cost Engineer III Salary by Company Size

Company Size Employees Average Salary
Startup 1~50 $102,848
Growth Stage 51~500 $108,773
Established 501~5000 $117,400
Enterprise 5000+ $121,573

Cost Engineer III Salary by Industry: Top Paying Sectors

For Cost Engineer III roles, the industry you choose can affect earning potential by as much as 25% (the gap between the highest and lowest paying industries). Data shows that the Energy & Utilities and Pharmaceuticals sectors offer the strongest compensation, at 10% above the average. In contrast, Cost Engineer positions in Edu., Gov't. & Nonprofit or Hospitality & Leisure typically offer lower base pay, as these industries often view Cost Engineer III as a support function rather than a direct revenue driver.

The top paying industries for a Cost Engineer III

Industry Sector Average Annual Salary Average Hourly Rate Pay vs.Avg
Energy & Utilities$119,461$57.010%
Pharmaceuticals$119,461$57.010%
Healthcare$117,289$56.08%
Insurance$116,203$56.07%
Internet$116,203$56.07%

How Education impacts an Cost Engineer III's Salary?

Your level of education can impact your salary potential. While many Cost Engineer III enter the field with a Bachelor's Degree, higher education can lead to more specialized and higher-paying roles.

According to our 100% employer-reported salary data, the median salary for an Cost Engineer III with a Bachelor's Degree is between $101,104 and $108,058.

Cost Engineer III Salaries by Degree Level

Typical Education for Cost Engineer III
Degree Level % of user with this level of education
No Diploma 2.8%
High School 8.3%
Associates 5.6%
Bachelors 58.3%
Masters 25.0%
Doctorate 0.0%
View as Graph

Cost Engineer III Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a Cost Engineer III's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.

Last Updated on August 01, 2026
$96,161
Average $108,601/year
$118,074
$8,013
Average $9,050/month
$9,840
$1,849
Average $2,088/week
$2,271
$46
Average $52/hour
$57
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $118,074 $9,840 $2,271 $57
Average $108,601 $9,050 $2,088 $52
25th Percentile $96,161 $8,013 $1,849 $46

Cost Engineer III Salary Growth & Career Path

Cost Engineer III

Next Role

Advancement

Promotions are the fastest way to increase your earnings. As a Cost Engineer III, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.

Next Step Role Estimate Salary Projected Raise
EHR Project Manager, Sr. $131,795 21%
Manufacturing Project Manager IV $129,869 20%
Engineering Program Manager IV $129,869 20%
Project Manager IV $130,589 20%

Most common benefits for Cost Engineer III

  • Social Security
  • 401 (k)
  • Disability
  • Healthcare
  • Pension
  • Time Off (days)

Common company salaries for Cost Engineer III

Here are companies hiring for Cost Engineer III and their salaries, click below for more details.

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FAQ about Cost Engineer III

1. Where can a Cost Engineer III earn the most?

A Cost Engineer III's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Cost Engineer III earns the most in San Jose, CA, where the annual salary of a Cost Engineer III is $136,978.

2. What is the highest pay for Cost Engineer III?

The highest pay for Cost Engineer III is $126,699.

3. What is the lowest pay for Cost Engineer III?

The lowest pay for Cost Engineer III is $84,835.

4. What are the responsibilities of Cost Engineer III?

Develops and implements cost control procedures, documents, and tools to support and enhance project budget management. Collects and coordinates procurement and other cost information used to develop cost forecasting, cost control strategies, and project risk analysis. Performs data analysis to identify project trends and budget deviations and highlight cost underruns and overruns. Has extensive technical knowledge of processes and materials specific to the type of project. Experienced with the cost-estimating methods best suited to the nature of the project. Requires a bachelor's degree. Typically reports to a supervisor or manager. Work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. Typically requires 4-7 years of related experience.

5. What industry pays the highest salary for Cost Engineer III?

The Energy & Utilities industry offers the highest average compensation for Cost Engineer III roles, with salaries approximately 10% above the market median.

Where Does Our Salary Data Come From?

Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.

We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)

With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.

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