HOW MUCH WILL IT COST TO HIRE AN ESTIMATOR?
Hiring
An Estimator:
There are different types of costs for hiring estimators. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new estimator employee.
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In the United States, the median pay for an estimator is $67,162 a year.
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Training, benefits, insurance, apparel and equipment add another $20,000.
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It takes between 36 and 42 days to fill the average role in the US.
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Human Resources use 15% of their expenses on recruitment on average.
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On average, it takes around 12 weeks for a new estimator to become settled and show total productivity levels at work.
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Internal recruiting costs refer to expenses related to the recruitment process within a company. These costs may include:
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Bonuses or prizes offered to employees for referring qualified candidates
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Salaries of internal recruiters
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The cost of employee time spent on interviews (calculated by multiplying the number of hours by the hourly salary of each employee involved in the interview process)
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Let's Break It Down:
Your new estimator was able to write 20 estimates totaling $250,000 in his first year.
Cost of your new estimator is $87,162.
He was able to write $250,000 in estimates.
Total minus Salary = $162,838.
Total Estimate Income (20%) = $32,567
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Now let's take that same amount and send it to CPS to write.
Cost of using CPS to write 20 estimates $2000 that pays for the first $3500 in each estimate which is $70,000 leaving $180,000.
$180000 x 2% =$3600 + Deposits of $2000 = $5600
Total minus Fees = $244,400
Total Estimate Income (30% - 40%,) at 35% =$85,540