Cost Engineering Industrial Placement 2027

McLaren Automotive Limited; Woking; Hybrid; GBP 18,000 - 24,000; Full time

Benefits offered by this job

25 days holiday + bank holidays

Enhanced pension scheme

Discretionary annual bonus

Job summary

McLaren Automotive Limited is seeking an Industrial Placement student to join the Cost Engineering team in Woking. You will support cost estimation, variance analysis, BOM reviews, and supplier pricing to help keep programmes within budget.

The role runs for 12 months on-site, requiring a 2:1+ degree in a related field and interest in automotive finance. You’ll gain hands-on experience alongside engineers, analysts, and programme managers using Excel, Power BI, and CRM tools.

Qualifications

• Currently studying towards a degree in Finance, Accounting, Economics, Business, Mathematics, or a related discipline, and predicted to achieve a 2:1 or above.
• Strong communication and organisational skills.
• A genuine interest in the automotive industry and commercial operations.
• Some familiarity with Microsoft Excel, PowerPoint, and business tools (e.g., Power BI, CRM platforms) is beneficial.

Responsibilities

• Assist with cost estimation and tracking activities across vehicle design and development.
• Support cost variance analysis and reporting to programme stakeholders.
• Help analyse Bills of Materials (BOM) and supplier pricing to identify cost drivers.
• Work with Engineering, Purchasing, and Manufacturing to support cost reduction initiatives.
• Develop and maintain financial models and databases; prepare cost reports for internal review.

Skills

Communication

Organisational skills

Education

Finance/Accounting/Economics/Business/Maths degree

Tools

Excel

PowerPoint

Power BI

CRM platforms

Job description

Cost Engineering Industrial Placement 2027Ref #59530Date postedMonday, September 28, 2026CountryUnited KingdomLocationWokingBusiness areaFinanceDepartmentFinancePosition level6 - Support (L-11)Working timeFull TimeContract typeFixed Term ContractDuration12 monthsWorking pattern9am - 6pm Monday to FridayWhat to ExpectWe are recruiting for an Industrial placement Intern to join our Cost Engineering team at the McLaren Technology Centre in Woking, Surrey. As a Cost Engineer Intern, you’ll gain hands-on experience supporting the financial management and cost control of McLaren’s vehicle programmes, playing an important role in helping ensure our products meet performance and quality targets within budget.This is a 12-month full-time Industrial Placement, designed for university students undertaking a placement year as part of a relevant degree programme. You will work alongside experienced Cost Engineers, financial analysts, and programme managers to gain practical exposure to real-world challenges and solutions in automotive cost management.**Please note this is an on-site position.**What You'll DoAs part of the Cost Engineering team, you will support a variety of projects and tasks across key areas including:**Cost Analysis & Forecasting:**· Assist with cost estimation and tracking activities throughout vehicle design and development.· Support cost variance analysis and reporting to programme stakeholders.· Help analyse Bills of Materials (BOM) and supplier pricing to identify cost drivers.**Cross-Functional Collaboration:**· Work with Engineering, Purchasing, and Manufacturing teams to support cost reduction initiatives.· Participate in meetings and reviews to align on cost targets and mitigation actions.**Financial Modelling & Data Management:**· Support the development and maintenance of financial models and databases.· Assist in preparing business cases and cost reports for internal review.**Supplier Cost Management:**· Help collect and analyse supplier quotes and benchmarking data.· Support supplier negotiations by providing cost insights.You will also take part in intern development workshops, training sessions, and networking opportunities across the wider business.What You'll Bring· Currently studying towards a degree in Finance, Accounting, Economics, Business, Mathematics, or a related discipline, and predicted to achieve a 2:1 or above.· Strong communication and organisational skills.· A genuine interest in the automotive industry and commercial operations.· Some familiarity with Microsoft Excel, PowerPoint, and business tools (e.g., Power BI, CRM platforms) is beneficial.You must also bring a passion for cars, and a desire to work at the cutting edge of the automotive industry within our Finance business area.**Personal Attributes:**We’re looking for motivated individuals with the mindset and behaviours to thrive in a fast-moving, high-performance automotive environment. The most desirable attributes include:· **Commercial curiosity** – an interest in how global automotive brands drive growth and performance.· **Data-driven thinking** – confidence working with numbers to support insights and decisions.· **Adaptability** – able to take on new challenges in a dynamic setting.· **Customer focus** – appreciation for high-quality service and experience.· **Collaboration** – able to work across functions and contribute to team success.· **Initiative** – proactive in learning, problem-solving, and adding value.· **Attention to detail** – accuracy in reporting, research, and communication.· **Resilience** – positive and reliable under pressure.· **Clear communication** – confident in presenting your ideas and findings.· **AI Proficiency** – Comfortable using AI tools ethically and effectively to support learning, productivity, innovation, and problem-solving.**Passion for automotive and innovation** – excited by performance vehicles and future mobility trends.What We'll Do for YouWe offer a wide-ranging benefits package, which includes:· 25 days’ holiday, plus bank holidays. Annual buy & sell up to five days· Enhanced company pension scheme· Discretionary annual bonus award· Private medical insurance and health cash plan· Life assurance benefit· Benefits you can adapt to your lifestyle, such as discounted shopping· A range of wellbeing initiatives, such as employee assistance programme and free financial & mortgage advice· Opportunities to experience our fantastic cars\\*Qualifying criteria applyWho Are We?No restraints. No limitations. We don’t simply push boundaries. We completely rethink them. McLaren Automotive exists to create breath-taking performance road cars.It takes a community to do what we do. A diverse group of people with many areas of expertise, united by their passion to deliver visionary products and set new benchmarks.McLaren Automotive commits to equal opportunity for all. Diversity, Equality and Inclusion is at the heart of our impact. It drives our innovation and enables us to truly create something special. Join us on our journey.