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Cost Reduction Engineer Jobs (NOW HIRING)

Senior Cost Engineer

Spartanburg, SC · On-site

$73K - $117K/yr

The Senior Cost Engineer is responsible for developing, validating, and managing product and ... Monitor cost trends and recommend cost reduction initiatives * Support supplier cost analysis and ...

CTPC Cost Engineer Interiors (CEI/TON) develops direct material costs and tooling investments for ... Identify potential cost optimization opportunities and support company technical cost reduction ...

Cost Engineer

Tualatin, OR · On-site

$85K - $100K/yr

Identify and recommend cost reduction opportunities through process improvements, technology upgrades, and supplier optimization. * Collaborate with Engineering and Operations to assess cost impacts ...

Cost Engineer

Tualatin, OR · On-site

$85K - $100K/yr

Identify and recommend cost reduction opportunities through process improvements, technology upgrades, and supplier optimization. * Collaborate with Engineering and Operations to assess cost impacts ...

Identify and recommend cost reduction opportunities through process improvements, technology upgrades, and supplier optimization. * Collaborate with Engineering and Operations to assess cost impacts ...

Serve as the SME in value engineering and should cost modeling, identifying cost reduction strategies and value capture opportunities * Collaborate with design teams to optimize component costs ...

Senior Cost Engineer

Foster City, CA · On-site

$187K - $225K/yr

Serve as the SME in value engineering and should cost modeling, identifying cost reduction strategies and value capture opportunities * Collaborate with design teams to optimize component costs ...

Senior Cost Engineer

Foster City, CA · On-site

$187K - $225K/yr

Serve as the SME in value engineering and should cost modeling, identifying cost reduction strategies and value capture opportunities * Collaborate with design teams to optimize component costs ...

Cost Estimator

Louisville, KY · On-site

$63K - $83K/yr

About Us Join a talented team of engineering professionals at Vogt Power International Inc. Vogt is ... Identifies cost reduction opportunities and participates and/or initiates cost reduction efforts.

Cost Estimator

Louisville, KY · On-site

$63K - $83K/yr

About Us Join a talented team of engineering professionals at Vogt Power International Inc. Vogt is ... Identifies cost reduction opportunities and participates and/or initiates cost reduction efforts.

Cost Estimator

Louisville, KY · On-site

$63K - $83K/yr

About Us Join a talented team of engineering professionals at Vogt Power International Inc. Vogt is ... Identifies cost reduction opportunities and participates and/or initiates cost reduction efforts.

Identify value analysis and value engineering (VA/VE) opportunities and cost reduction initiatives across components and assemblies. * Maintain and continuously improve cost tracking and reporting ...

New

This role acts as a key interface between production, engineering, controlling, and global lead plants to ensure cost transparency, identify cost drivers, and execute cost-reduction initiatives. The ...

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Cost Reduction Engineer information

See salary details

$45.5K

$97K

$139.5K

How much do cost reduction engineer jobs pay per year?

As of Jul 11, 2026, the average yearly pay for cost reduction engineer in the United States is $97,048.00, according to ZipRecruiter salary data. Most workers in this role earn between $81,000.00 and $114,000.00 per year, depending on experience, location, and employer.

What engineer makes $500,000 a year?

A senior or specialized engineer such as a petroleum engineer, aerospace engineer, or software engineer with extensive experience and advanced skills can earn $500,000 or more annually, often through bonuses, stock options, or consulting roles. These positions typically require advanced degrees, certifications, and a high level of expertise in their field.

What engineers make $200,000 a year?

Senior engineers in specialized fields such as petroleum, aerospace, software, and electrical engineering can earn $200,000 or more annually, especially with extensive experience, advanced certifications, or leadership roles. High-paying engineering positions often require advanced skills, project management, and sometimes working in high-demand industries or locations with a high cost of living.

What engineers make $300,000 a year?

Senior engineers in specialized fields such as petroleum, aerospace, or software engineering can earn $300,000 or more annually, especially with extensive experience, advanced skills, and leadership roles. High compensation often involves working in high-demand industries, holding managerial or executive positions, or possessing rare technical expertise and certifications.

What are the key skills and qualifications needed to thrive as a Cost Reduction Engineer, and why are they important?

To thrive as a Cost Reduction Engineer, you need strong analytical skills, knowledge of manufacturing processes, and a degree in engineering or a related field. Familiarity with cost analysis software, CAD tools, and Lean Six Sigma or similar process improvement certifications is typically required. Effective communication, problem-solving, and cross-functional teamwork are vital soft skills for identifying and implementing cost-saving initiatives. These competencies are essential for driving profitability and operational efficiency while maintaining product quality.

What is the difference between Cost Reduction Engineer vs Process Engineer?

AspectCost Reduction EngineerProcess Engineer
Primary FocusIdentifying cost-saving opportunities across operations and supply chainDesigning, implementing, and optimizing manufacturing or business processes
Skills & CertificationsCost analysis, Lean/Six Sigma, engineering fundamentalsProcess design, Lean, Six Sigma, engineering principles
Work EnvironmentManufacturing plants, supply chain, corporate officesManufacturing facilities, R&D labs, production lines
Industry UsageManufacturing, industrial, supply chain sectorsManufacturing, engineering, industrial sectors

While both roles involve process improvement and efficiency, the Cost Reduction Engineer primarily focuses on reducing costs across operations, whereas the Process Engineer concentrates on designing and optimizing manufacturing processes. Both roles often require similar certifications like Lean or Six Sigma and are found in manufacturing and industrial environments.

What are some typical challenges a Cost Reduction Engineer faces when implementing cost-saving initiatives?

Cost Reduction Engineers often encounter challenges such as balancing cost-saving goals with maintaining product quality and performance. They must navigate cross-functional collaboration, aligning priorities between engineering, procurement, and production teams. Resistance to change from stakeholders and the need to identify sustainable, long-term savings—rather than short-term fixes—are also common hurdles. Effective communication, data-driven analysis, and a proactive approach to stakeholder engagement are key to overcoming these challenges and ensuring successful cost reduction projects.

What are Cost Reduction Engineers?

Cost Reduction Engineers are professionals who specialize in analyzing, developing, and implementing strategies to decrease expenses in manufacturing, production, or service processes without compromising quality or performance. They work closely with cross-functional teams to identify cost-saving opportunities, streamline operations, and improve efficiency. Their role often involves conducting value analysis, negotiating with suppliers, and applying lean manufacturing principles to optimize costs across projects and products.

What is the role of a cost reduction engineer?

A cost reduction engineer analyzes manufacturing processes, materials, and operations to identify opportunities for reducing costs while maintaining quality and safety. They often use data analysis, engineering principles, and cost management tools to implement efficiency improvements and optimize resource use.
More about Cost Reduction Engineer jobs
Senior Cost Engineer

Senior Cost Engineer

Oshkosh Corporation

Spartanburg, SC • On-site

$73K - $117K/yr

Full-time

Re-posted 2 days ago


Oshkosh Corporation rating

7.3

Company rating: 7.3 out of 10

Based on 40 frontline employees who took The Breakroom Quiz

262nd of 429 rated machine equipment manufacturers


Job description

About Oshkosh Delivery, an Oshkosh company

Oshkosh Delivery is dedicated to redefining the future of last-mile and commercial delivery. Built on Oshkosh Corporation's legacy of engineering excellence and innovation, we design and manufacture advanced delivery vehicles that are durable, efficient, and sustainable. With a focus on reliability, driver experience, and cutting-edge technology, Oshkosh Delivery empowers fleets and businesses to move goods smarter, safer, and with confidence, today and for the road ahead.

The Senior Cost Engineer is responsible for developing, validating, and managing product and project cost estimates to support budgeting, pricing strategy, and supplier negotiations. This role partners cross-functionally with Engineering, Supply Chain, Finance, and Operations to ensure accurate cost modeling, conduct weight and material usage analysis, and identify cost reduction opportunities that improve overall program profitability.

* This role is based in Oshkosh, WI, however, we are open to considering remote candidates who are able to travel as needed.

YOUR IMPACT:

These duties are not meant to be all-inclusive and other duties may be assigned:

  • Develop detailed cost estimates for new and existing products/projects, including materials, labor, overhead, tooling, and capital expenditures
  • Analyze bills of materials (BOMs), drawings, specifications, and production processes to validate cost assumptions
  • Partner with engineering and operations to evaluate design alternatives and cost impacts
  • Perform weight checks and material yield analysis to validate material usage, structural assumptions, and cost drivers
  • Support pricing strategies through cost modeling and margin analysis
  • Conduct variance analysis comparing estimated vs. actual costs and identify root causes
  • Monitor cost trends and recommend cost reduction initiatives
  • Support supplier cost analysis and should-cost modeling to support sourcing strategies and supplier negotiations
  • Partner with Supply Chain to provide cost breakdowns and analytical support during supplier negotiations
  • Maintain and improve cost estimation tools, templates, and systems

MINIMUM QUALIFICATIONS:

  • Bachelor's degree in Engineering, Finance, Accounting, or related field and three (3) or more years of relevant experience (equivalent to nine (9) years in total education and experience); or an equivalent combination of education and experience that demonstrates the ability to perform the essential functions of the role.

STANDOUT QUALIFICATIONS:

  • Strong analytical and quantitative skills
  • Proficiency in Excel and financial modeling
  • Experience working with ERP/MRP systems
  • Ability to interpret engineering drawings and technical specifications
  • Strong communication and cross-functional collaboration skills

#LI-TA1

Pay Range:

$73,200.00 - $117,800.00

The above pay range reflects the minimum and maximum target pay for the position across all U.S. locations. Within this range, individual pay is determined by various factors, including the scope and responsibilities of the role, the candidate's experience, education and skills, as well as the equity of pay among team members in similar positions. Beyond offering a competitive total rewards package, we prioritize a people-first culture and offer various opportunities to support team member growth and success.

Oshkosh is committed to working with and offering reasonable accommodation to job applicants with disabilities. If you need assistance or an accommodation due to disability for any part of the employment process, please contact us at corporatetalentacquisition@oshkoshcorp.com.

Oshkosh Corporation is a merit-based Equal Opportunity Employer.Job opportunities are open for application to all qualified individuals and selection decisions are made without regard to race, color, religion, sex, national origin, age, disability, veteran status, or other protected characteristic. To the extent that information is provided or collected regarding categories as provided by law it will in no way affect the decision regarding an employment application.

Oshkosh Corporation will not discharge or in any manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with Oshkosh Corporation's legal duty to furnish information.

Certain positions with Oshkosh Corporation require access to controlled goods and technologies subject to the International Traffic in Arms Regulations or the Export Administration Regulations. Applicants for these positions may need to be "U.S. Persons," as defined in these regulations. Generally, a "U.S. Person" is a U.S. citizen, lawful permanent resident, or an individual who has been admitted as a refugee or granted asylum.


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