Average Cost Estimator Salary in Bosnia and Herzegovina for 2024

In this article, we will look at the average Cost Estimator salary for 2024 in Bosnia and Herzegovina and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Bosnia and Herzegovina convertible mark. To keep things simple, we are using the BAM currency code instead of the currency symbol .

How Much Does a Cost Estimator Make in Bosnia and Herzegovina?

A Cost Estimator working in Bosnia and Herzegovina will typically earn around 19,940 BAM per year, and this can range from the lowest average salary of about 9,980 BAM to the highest average salary of 35,300 BAM.

Average Annual Salary
19,940 BAM
Average Monthly Salary
1,661 BAM

Lowest Annual Salary
9,980 BAM
Lowest Monthly Salary
831 BAM

Highest Annual Salary
35,300 BAM
Highest Monthly Salary
2,941 BAM

These are average salaries for a Cost Estimator in Bosnia and Herzegovina and include benefits such as housing and transport. It's also possible for a Cost Estimator to earn more or less than the average salaries shown above.

Cost Estimator salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Cost Estimator Salaries in Bosnia and Herzegovina

So we've looked at the average salaries a Cost Estimator will earn in Bosnia and Herzegovina. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Cost Estimator can earn between 9,980 BAM and 35,300 BAM on average in Bosnia and Herzegovina. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Cost Estimator in Bosnia and Herzegovina is 22,340 BAM. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 22,340 BAM, and 50% of the population earn more than 22,340 BAM.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Cost Estimator salary in Bosnia and Herzegovina, 25% of the population are earning less than 17,020 BAM while 75% of the population earn more than 17,020 BAM.

75% of the population earn less than 31,960 BAM, and 25% of the population earn more than 31,960 BAM.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Cost Estimator Salary by Experience Level in Bosnia and Herzegovina

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average cost estimator salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Cost Estimator in Bosnia and Herzegovina that has less than two years of experience can expect to earn somewhere in the region of 10,000 BAM.
  • 2 - 5 Years Experience. With two to five years of experience the average Cost Estimator salary would increase to 14,540 BAM.
  • 5 - 10 Years Experience. From five to ten years of experience as a Cost Estimator, the average salary would be 20,760 BAM.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 28,180 BAM.
  • 15 - 20 Years Experience. A Cost Estimator with 15 to 20 years of experience can earn an average of 30,700 BAM.
  • 20+ Years Experience. For a Cost Estimator with more than 20 years, the expected average salary increases to 30,700 BAM.

Average Salary by Experience Chart

0-2 Years
10,000 BAM
2-5 Years +34%
14,540 BAM
5-10 Years +48%
20,760 BAM
10-15 Years +22%
28,180 BAM
15-20 Years +9%
30,700 BAM
20+ Years +8%
30,700 BAM

Cost Estimator Salary by Education Level in Bosnia and Herzegovina

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Cost Estimator in Bosnia and Herzegovina based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Cost Estimator in Bosnia and Herzegovina with a high school education can earn an average salary of 12,240 BAM.

  • Certificate or Diploma. A Cost Estimator in Bosnia and Herzegovina with a certificate or diploma education can earn an average salary of 18,260 BAM.

  • Bachelor's Degree. A Cost Estimator in Bosnia and Herzegovina with a bachelor's degree education can earn an average salary of 23,480 BAM.

  • Master's Degree. A Cost Estimator in Bosnia and Herzegovina with a master's degree education can earn an average salary of 32,620 BAM.

Average Salary by Education Chart

High School
12,240 BAM
Certificate or Diploma +18%
18,260 BAM
Bachelor's Degree +45%
23,480 BAM
Master's Degree +31%
32,620 BAM

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Bosnia and Herzegovina is around 11,500 to 34,500 BAM and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Cost Estimator Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Bosnia and Herzegovina, a male cost estimator will earn an average of 24,840 BAM, while a female cost estimator will earn around 19,060 BAM.

This means that a male cost estimator earns approximately 30% more than a female cost estimator for performing the same job.

Average Salary by Gender Chart in Bosnia and Herzegovina

Male
24,840 BAM
Female -30%
19,060 BAM

Cost Estimator Average Pay Raise in Bosnia and Herzegovina

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Cost Estimator in Bosnia and Herzegovina is around 8% every 27 months.

The national average pay raise across all professions and industries in Bosnia and Herzegovina is around 4% every 29 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 8 ÷ 27 ) × 12  = 4%

What this means is that a Cost Estimator in Bosnia and Herzegovina can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Bosnia and Herzegovina for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Bosnia and Herzegovina.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Cost Estimator Bonus and Incentive Rates in Bosnia and Herzegovina

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Cost Estimator is a moderate bonus based job, with 66% of employees reporting at least one bonus in the last 12 months.

34% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 9%.

Received Bonus
66%
No Bonus
34%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Bosnia and Herzegovina earn approximately 27% more than private sector employees in the same role.

Public Sector
31,400 BAM
Private Sector -27%
24,800 BAM

Salaries for Jobs Similar to a Cost Estimator

In the table below, we have salary information for jobs that are similar to a Cost Estimator in Bosnia and Herzegovina.

Job Title Category Salary
Assistant Business Development Manager Business Planning 37,740 BAM
Assistant Merchandise Planner Business Planning 21,380 BAM
Business Advisor Business Planning 34,540 BAM
Business Analyst Business Planning 35,340 BAM
Business Consultant Business Planning 35,340 BAM
Business Continuity Associate Business Planning 21,020 BAM
Business Developer Business Planning 21,980 BAM
Business Development Analyst Business Planning 24,800 BAM
Business Development Associate Business Planning 19,200 BAM
Business Development Coordinator Business Planning 19,020 BAM
Business Development Director Business Planning 49,300 BAM
Business Development Engineer Business Planning 26,400 BAM
Business Development Executive Business Planning 35,300 BAM
Business Development Manager Business Planning 43,260 BAM
Business Development Specialist Business Planning 31,340 BAM
Business Manager Business Planning 39,080 BAM
Business Operations Specialist Business Planning 31,040 BAM
Business Process Writer Business Planning 19,860 BAM
Business Systems Analyst Business Planning 36,940 BAM
Capacity Planner Business Planning 22,340 BAM
Capacity Planning Supervisor Business Planning 30,700 BAM
Change Communications Analyst Business Planning 34,080 BAM
Change Control Analyst Business Planning 34,540 BAM
Change Impact Analyst Business Planning 32,200 BAM
Contracts Executive Business Planning 35,520 BAM
Corporate Strategy Analyst Business Planning 35,340 BAM
Cost Control Engineer Business Planning 21,560 BAM
Cost Controller Business Planning 23,360 BAM
Data Executive Business Planning 15,920 BAM
Data Manager Business Planning 24,720 BAM
Data Processing Manager Business Planning 31,080 BAM
Development Researcher Business Planning 25,720 BAM
Director of Business Development Business Planning 48,200 BAM
Director of Production Planning Business Planning 41,980 BAM
Due Diligence Analyst Business Planning 39,640 BAM
Estimating Manager Business Planning 38,680 BAM
General Manager Business Planning 41,700 BAM
Incident Handler Business Planning 23,140 BAM
Incident Specialist Business Planning 31,400 BAM
Lean Consultant Business Planning 27,040 BAM
Manager Business Planning 42,960 BAM
Marketing and Business Development Manager Business Planning 43,080 BAM
Materials Planner Business Planning 14,140 BAM
Merchandise Assistant Business Planning 12,240 BAM
Merchandise Controller Business Planning 14,200 BAM
Merchandise Planner Business Planning 14,660 BAM
Operations Analyst Business Planning 32,960 BAM
Operations Manager Business Planning 36,700 BAM
Operations Research Analyst Business Planning 20,520 BAM
Planning and Reporting Manager Business Planning 39,960 BAM
Planning Director Business Planning 46,840 BAM
Project Administrator Business Planning 21,560 BAM
Project Manager Business Planning 36,020 BAM
Project Planner Business Planning 21,380 BAM
Research Assistant Business Planning 20,300 BAM
Research Engineer Business Planning 20,000 BAM
Research Officer Business Planning 16,340 BAM
Risk Management Specialist Business Planning 31,180 BAM
Scholarship Coordinator Business Planning 17,560 BAM
Store Planner Business Planning 15,300 BAM
Strategy Director Business Planning 48,160 BAM
Top Research and Development Executive Business Planning 52,380 BAM

Salary Comparison by City

If you want to compare salaries with different cities in Bosnia and Herzegovina, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Banja Luka 22,660 BAM
Medjugorje 20,520 BAM
Mostar 23,520 BAM
Sarajevo 24,800 BAM
Tuzla 25,220 BAM
Zenica 21,980 BAM

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