As of April 01, 2026, the average hourly rate for a Cost Engineer V in the United States is $75, which translates to an annual salary of about $155,328.
However, the hourly wage can vary significantly based on several factors. Here’s a detailed look at the typical pay range per hour:
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A Cost Engineer V'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.
Experience is a primary driver of a Cost Engineer V'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:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Cost Engineer III | 4-7 years | $108,625 |
| Cost Engineer IV | 7+ years | $131,818 |
| Cost Engineer V | 7-10 years | $155,328 |
| Project Cost Control Team Leader | 10+ years | $116,131 |
| Project Controls Manager | 10+ years | $151,971 |
What Am I Worth?
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 Vs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 8.58% |
| Construction Accounting | 2.97% |
| KPI | 1.98% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
MRP
|
$192,607 |
24%
|
|
Process Improvement
|
$175,521 |
13%
|
|
ERP Systems
|
$175,521 |
13%
|
|
Alignment
|
$173,967 |
12%
|
|
Risk Management
|
$173,967 |
12%
|
|
Program Management
|
$167,754 |
8%
|
Your level of education can impact your salary potential. While many Cost Engineer Vs enter the field with a Bachelor's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Cost Engineer V with a Bachelor's Degree is between $145,008 and $155,353).
Cost Engineer V Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 6.1% |
| High School | 6.1% |
| Associates | 6.1% |
| Bachelors | 50.0% |
| Masters | 37.9% |
| Doctorate | 0.0% |
Understanding how a Cost Engineer V'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 April 01, 2026Salaries for a Cost Engineer V can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $149,568 in 2023 to around $143,514 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Cost Engineer V salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $149,568 |
| 2024 | $146,307 |
| 2025 | $143,514 |
| 2026 |
View More
|
| 2027 |
View More
|
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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. Works autonomously. Goals are generally communicated in "solution" or project goal terms. May provide a leadership role for the work group through knowledge in the area of specialization. Works on advanced, complex technical projects or business issues requiring state of the art technical or industry knowledge. Typically requires 10+ years of related experience.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Construction Accounting: 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: KPI stands for key performance indicator, a quantifiable measure of performance over time for a specific objective.
Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
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