Inspects condominiums and homeowners associations and forecasts when roofs, pools and other shared components will need replacing and how much to save. BLS does not publish separate figures for cost estimators; it counts them within cost estimator (SOC 13-1051), whose median pay is $78,740 a year (BLS OEWS, May 2025). Typical entry-level education: Bachelor's degree.
- SOC 13-1051
- Business and Financial Operations
- Last updated October 9, 2026
At a glance
Reserve Study Specialist in four numbers
- Median pay
- $78,740a year, or $37.86/hrBLS OEWS, May 2025Lowest 10% $49KTop 10% $131K
US median, all jobs: $50,980
- Projected growth
- -3.1%DecliningBLS EP, 2025–2035This career−3.1%All jobs+3.5%
Projected employment change, 2025–2035 Item Value This career −3.1% All jobs +3.5% - Openings a year
- 17,600226,400 jobs todayBLS EP, 2025–2035
- Jobs in 2025226.4K
- Projected 2035219.5K
Employment, 2025–2035 Item Value Jobs in 2025 226.4K Projected 2035 219.5K - Typical education
- Bachelor'sneeded to enterBLS EP, 2025–2035; mix: O*NET
- High school4.6%
- Associate's9.1%
- Bachelor's81.8%
- Master's4.6%
Highest education held by cost estimators Segment Value High school 4.6% Associate's 9.1% Bachelor's 81.8% Master's 4.6%
Also advertised as: Reserve Analyst, Reserve Study Consultant, Reserve Specialist, Capital Reserve Analyst.
Pay
How much do Cost Estimators make?
Every reserve study specialist in the US, by percentile of annual wage
Median
$78,740
Middle half earn $61,150 to $101,850
- 10th
- $48,530
- 25th
- $61,150
- 75th
- $101,850
- 90th
- $130,820
All US occupations: $50,980
| Percentile | Value |
|---|---|
| 10th | $48,530 |
| 25th | $61,150 |
| Median | $78,740 |
| 75th | $101,850 |
| 90th | $130,820 |
| All US occupations | $50,980 |
Source: BLS OEWS, May 2025
- Median annual wage
- $78,740
- Median hourly wage
- $37.86/hr
- Mean annual wage
- $85,390
- People employed
- 224,220
Versus all US occupations
At $78,740, Cost Estimators earn 54% above the $50,980 median across all US occupations, a difference of $27,760 a year.
Versus business and financial operations occupations
The median is typical for the Business and Financial Operations group, where the middle occupation pays $80,730.
Pay range
The top 10% earn $130,820 or more while the bottom 10% earn $48,530, a gap of 2.7×. That is a typical spread for a US occupation.
Rank in the bank
This median pays more than 57% of the 1,741 occupations in the NueCareer career bank.
Cost of living
Massachusetts posts the highest raw median ($100,840), but once local prices are taken into account Wyoming leads at $97,949 in national-average dollars.
Pay by state
Which states pay Cost Estimators the most?
State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| 1Massachusetts | $100,840 | $95,351 | 4,520 |
| 2Alaska | $97,020 | $94,784 | 220 |
| 3Wyoming | $90,790 | $97,949 | 440 |
| 4Colorado | $86,940 | $84,365 | 6,100 |
| 5Washington | $86,070 | $80,429 | 7,470 |
| 6California | $85,460 | $77,186 | 26,020 |
| 7Illinois | $82,750 | $82,785 | 5,990 |
| 8District of Columbia | $82,730 | $75,277 | 270 |
| 9Nevada | $82,200 | $82,217 | 2,240 |
| 10Rhode Island | $81,990 | $80,162 | 590 |
Job outlook
Is Reserve Study Specialist a growing career?
Employment change over 2025–2035, against every US occupation
Declining. -3.1% projected growth vs 3.5% for all occupations.
| Item | Value |
|---|---|
| Cost Estimators | −3.1% |
| All US occupations | +3.5% |
Source: BLS EP, 2025–2035
Declining
BLS projects employment of Cost Estimators to change -3.1% over 2025–2035, while total US employment is projected to rise 3.5%. That is 6,900 fewer jobs.
Annual openings
About 17,600 openings are projected each year, 7.8% of the 226,400 jobs that existed in 2025. Most come from workers leaving the occupation, not from growth alone.
Getting in
How to become a Reserve Study Specialist
Many specialists come from construction, engineering, estimating, property management or building inspection. A bachelor's degree in construction management or engineering is common but not universal; training happens on the job under an experienced analyst.
The Community Associations Institute awards the Reserve Specialist designation to those with enough completed studies and a sound track record, and the Association of Professional Reserve Analysts offers the Professional Reserve Analyst credential. Some states require a reserve study to be prepared by a credentialed professional or engineer. Clear writing matters because boards of volunteers must understand the report.
- 1
Typical entry-level education
Bachelor's degree
- 2
Work experience in a related occupation
None
- 3
Typical on-the-job training
Moderate-term on-the-job training
- 4
Preparation needed (O*NET job zone)
Medium preparation
BLS Employment Projections, 2025–2035; job zone from O*NET 31.0 Database.
What education people in the job have
O*NET incumbent survey: the highest level of education reported by people already working as cost estimators.
- Bachelor's Degree81.8%
- Associate's Degree or other 2-year degree9.1%
- High School Diploma or the equivalent (such as a GED)4.6%
- Master's Degree4.6%
| Item | Value |
|---|---|
| Bachelor's Degree | 81.8% |
| Associate's Degree or other 2-year degree | 9.1% |
| High School Diploma or the equivalent (such as a GED) | 4.6% |
| Master's Degree | 4.6% |
Source: O*NET 31.0 Database
The work
What does a Reserve Study Specialist do?
Condominium buildings and homeowners associations share expensive components: roofs, elevators, paving, pools, boilers and siding. A reserve study tells the board what those components are, how long each will last, what replacement will cost, and how much the association should set aside each year so owners are not hit with surprise special assessments.
Reserve study specialists visit the property, inventory and measure components, assess their condition, and estimate remaining useful life and replacement cost. Back at the office they build a long-range funding plan, write the report, and present it to the board. The field has grown more important as some states have tightened rules on structural inspections and reserve funding for condominiums.
Day-to-day tasks
- Inspect community property and inventory shared components
- Measure quantities and assess the condition of building systems
- Estimate useful life and replacement cost for each component
- Build long-range reserve funding plans
- Write reserve study reports for association boards
- Present findings and funding options at board meetings
- Update prior studies as conditions and costs change
Typical tasks, researched by NueCareer from the sources below.
Working conditions and hours
Reserve study specialists divide their time between site inspections at residential communities and office work on estimates and reports. Inspections mean walking roofs, garages and grounds in all weather. Evening board meetings are part of the job, and travel within a region is common.
Where the work happens
Indoors, climate-controlled
NeverEvery dayOutdoors in all weather
NeverEvery day
Physical demands
Sitting
NeverAlmost all the timeSeated for more than half the working day.
Standing
NeverAlmost all the timeBending or twisting
NeverAlmost all the time
Working with people
Contact with other people
NoneConstantFace-to-face discussions
NeverEvery dayDealing with the public
Not importantExtremely important
Pressure and stakes
Strict deadlines
NeverEvery dayConflict situations
NeverEvery dayCost of a mistake
Not seriousExtremely serious
Autonomy
Freedom to decide
NoneA lot
Conditions: O*NET Work Context survey. Each item has its own scale, so each dot is read against the two answers that end its own line.
Core skills
O*NET importance, 1 to 5
- Reading Comprehension4.0
- Mathematics4.0
- Speaking3.9
- Active Listening3.8
- Critical Thinking3.8
- Writing3.5
- Active Learning3.3
- Monitoring3.0
| Item | Value |
|---|---|
| Reading Comprehension | 4.0 |
| Mathematics | 4.0 |
| Speaking | 3.9 |
| Active Listening | 3.8 |
| Critical Thinking | 3.8 |
| Writing | 3.5 |
| Active Learning | 3.3 |
| Monitoring | 3.0 |
Source: O*NET 31.0 Database
Transferable skills
O*NET importance, 1 to 5
- Judgment and Decision Making3.6
- Complex Problem Solving3.4
- Social Perceptiveness3.1
- Coordination3.1
- Management of Financial Resources3.1
- Persuasion3.0
- Negotiation3.0
- Systems Analysis3.0
| Item | Value |
|---|---|
| Judgment and Decision Making | 3.6 |
| Complex Problem Solving | 3.4 |
| Social Perceptiveness | 3.1 |
| Coordination | 3.1 |
| Management of Financial Resources | 3.1 |
| Persuasion | 3.0 |
| Negotiation | 3.0 |
| Systems Analysis | 3.0 |
Source: O*NET 31.0 Database
Tools and software
- Accounting software · in demand
- Analytical or scientific software · in demand
- Computer aided design CAD software · in demand
- Data base user interface and query software · in demand
- Document management software · in demand
- Electronic mail software · in demand
- Enterprise resource planning ERP software · in demand
- Graphics or photo imaging software · in demand
- Office suite software · in demand
- Presentation software · in demand
- Process mapping and design software · in demand
- Project management software · in demand
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
Personality fit
What personality type suits a Reserve Study Specialist?
NueCareer estimate (Holland code ICR) built on O*NET's Cost Estimator profile, scored 1 to 7
| Axis | Reserve Study Specialist |
|---|---|
| Realistic | 4 |
| Investigative | 4 |
| Artistic | 1 |
| Social | 2 |
| Enterprising | 5 |
| Conventional | 6 |
Source: O*NET 31.0 Database
What the work is built around
Day to day this is work built around organising, following procedures and working precisely with data, combined with leading, persuading, selling and making decisions.
- Conventional6.4
- Enterprising4.7
- Investigative4.2
- Realistic3.7
- Social1.7
- Artistic1.1
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Explore further
Careers related to Reserve Study Specialist
O*NET related occupations
- Business and Financial Operations
- Business and Financial Operations
- Architecture and Engineering
Civil Engineering Technologist and Technician
$64,950median a year
Most earn $44K to $99K
+3.2%Associate's - Management
- Architecture and Engineering
- Management
More business and financial operations careers
Median annual pay, with cost estimators highlighted
- Financial Advisor$105,070
- Accountant$83,680
- Insurance Underwriter$81,370
- Coroner$80,730
- Reserve Study Specialist$78,740
- Claims Adjuster, Examiner, and Investigator$78,000
- Loan Officer$76,690
- Human Resources Specialist$75,940
- Appraiser and Assessor of Real Estate$67,960
| Item | Value |
|---|---|
| Financial Advisor | $105,070 |
| Accountant | $83,680 |
| Insurance Underwriter | $81,370 |
| Coroner | $80,730 |
| Reserve Study Specialist | $78,740 |
| Claims Adjuster, Examiner, and Investigator | $78,000 |
| Loan Officer | $76,690 |
| Human Resources Specialist | $75,940 |
| Appraiser and Assessor of Real Estate | $67,960 |
Source: BLS OEWS, May 2025
Lists Reserve Study Specialist appears on
Questions
Reserve Study Specialist: frequently asked questions
How much do Cost Estimators make?
BLS does not publish a separate wage for cost estimators. It counts them within cost estimator, whose median pay is $78,740 a year (BLS OEWS, May 2025). The middle half of that occupation earn between $61,150 and $101,850, and the top 10% earn $130,820 or more.
Do you need a degree to become a Reserve Study Specialist?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Cost Estimators, and O*NET rates the preparation needed as medium preparation. BLS also lists moderate-term on-the-job training as typical on-the-job training. In O*NET's survey of people already doing the job, 81.8% hold bachelor's degree.
Is Reserve Study Specialist a growing career?
No. BLS projects employment to fall 3.1% over 2025–2035, a loss of 6,900 jobs (BLS EP, 2025–2035). BLS still projects about 17,600 openings a year, mostly from workers retiring or moving to other work.
What does a Reserve Study Specialist do?
Condominium buildings and homeowners associations share expensive components: roofs, elevators, paving, pools, boilers and siding. A typical task: inspect community property and inventory shared components. Employers most often ask for Accounting software, Analytical or scientific software, Computer aided design CAD software.
Which states pay Cost Estimators the most?
The highest state medians for Cost Estimators are Massachusetts ($100,840), Alaska ($97,020), Wyoming ($90,790) (BLS OEWS, May 2025). Adjusted for local prices using BEA Regional Price Parities, Wyoming moves to the top at $97,949.
What personality type suits a Reserve Study Specialist?
O*NET scores Cost Estimators highest on the Conventional, Enterprising and Investigative interest areas, so the work mixes organising, following procedures and working precisely with data with leading, persuading, selling and making decisions. On NueCareer's MBTI-to-interest mapping the closest types are ISTJ, ESTJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 1,731 careers in the bank.