Cost Engineer II - The Toro Company

The Toro Company; BLOOMINGTON (MN); Hybrid; USD 97,000 - 121,000; Full time

Benefits offered by this job

Dress for your day

Onsite café & Caribou Coffee

Wellness facilities

Volunteerism – 20 hours

Summer hours

Flexible work arrangements

Hybrid schedule

Job summary

The Toro Company is seeking a Cost Engineer II to support cost estimation, budgeting and cost improvement across new product development and existing products. You will analyze and document cost estimates, influence design decisions, and collaborate with divisions to optimize cost, quality and time.

You will work in a Bloomington, MN environment with hybrid scheduling, contributing to ROI calculations and supplier interactions while driving standardization and cost reduction initiatives.

Qualifications

• 3+ years of experience in costing future product, product development or cost-related roles.
• Degree in engineering/industrial tech, finance, or related field.
• Understanding of manufacturing processes, bills of materials, and product structures.
• Knowledge of value engineering and DFMA principles.
• Ability to read engineering specs and blueprints.

Responsibilities

• Provide cost information and options during design decisions (DFMA, materials utilization, cost optimization).
• Manage product cost to target on moderately complex projects.
• Set future cost estimates for ROI planning and decisions.
• Prepare cost estimates for milestone reviews and documentation.
• Collaborate with Engineering, Operations, Marketing and Finance on cost, pricing and budgeting.
• Coordinate with suppliers, sourcing and manufacturing engineers to stay on edge of processes.

Skills

Cost estimation

Budgeting

DFMA

Value engineering

Cross-functional collaboration

Education

B.A./B.S. in engineering/industrial tech or finance

Advanced degrees preferred

Tools

Excel

SAP

MS Office

Job description

Applicants must be legally authorized to work in the United States. We are unable to sponsor or take over sponsorship of a school/employment or any other visa, regardless of expiration date, now or in the future. Who Are We? The Toro Company is a homegrown, Minnesota-based company that has been in business since 1914. We pride ourselves on providing world‑class equipment to help maintain the environment that we love, while putting an emphasis on giving back to the communities that surround us. From residential lawns and gardens, to venues such as St Andrews Links and Target Field, we are a company with a global footprint and a passion for helping people beautify whatever landscape they may be in. With 100 years of operation under our belt and a healthy tenure,come find out what makes The Toro Company the best place in the Twin Cities to build a career.

As the Cost Engineer II you will be responsible for supporting the business by developing, analyzing and documenting product cost estimates, by budgeting, planning and monitoring key investments and by actively participating in new product development (NPD), design and cost improvement (DCI), maintenance, make vs. buy and other special projects seeking to optimize the balance between cost, quality and time requirements.

What Will You Do?

• Offers sound cost information and options when design choices are being made including value engineering, design for manufacture and assembly (DFMA), in‑house and supplier capabilities, materials utilization and design alternatives for value optimization.
• Manages product cost to target on projects with moderate complexity.
• Sets the future cost estimate of the item when production is estimated to begin and that will be used by the enterprise for ROI calculations and decision making.
• Prepares supporting documentation (cost estimates) for project milestone review.
• Provides analyzed cost data to Division Engineering, Plant Engineering/Operations, Marketing, and Finance for use in determining project direction, product pricing, parts pricing, budgeting, and internal rate of return investment calculations for new and current products.
• Coordinates regular interaction with suppliers, strategic sourcing, advanced manufacturing engineers, manufacturing engineers, industrial engineers, design engineers and other resources in order to retain leading edge knowledge of processes available to The Toro Company.
• Provides leadership and guidance in the area of cost avoidance, cost reduction, and standardization.
• Provides cost estimating and pricing proposal development, with an understanding of the cost estimating model and knowledge in development of product, labor, freight and assembly rates and their interconnectedness.
• Administers product costing models and standardized costing procedures.
• Perform other duties as assigned.

What Do You Need?

• Degree (B.A. or B.S.) in engineering/industrial technology discipline, finance or a related field.
• Advanced degrees preferred.
• Minimum of 3+ years of experience in costing future product, product development or cost-related positions.
• Ability to manage multiple projects
• Ability to read, comprehend and apply engineering specifications and blueprints.
• Understanding of manufacturing processes, bills of materials, product structures.
• Understanding of value engineering and DFMA principals.
• Demonstrates analytical and problem‑solving skills.
• Curious learner, self‑starter with a continuous improvement mindset.
• Makes recommendations to streamline and improve processes.
• Strong written, verbal and interpersonal communication skills to team and able to influence leaders.
• Intermediate Excel skills with knowledge of Outlook, PowerPoint and Word.
• Ability to work successfully in a fast‑paced dynamic organization with changing needs.
• Preferred Qualifications: SAP Experience, Strong project management background, Hands‑on experience with DFMA and value engineering, Cross‑functional influence and business impact mindset

What Can We Give You?

At The Toro Company, we are always working to make sure our employees know just how valued they are. In addition to a competitive salary, an affordable and top tier medical/dental/vision plan, 401k, and many other great benefits -The Toro company offers employees at our Bloomington, MN HQlocation a variety of perks, including:

• Dress for your day - We know you're more productive when you're comfortable, which is why TTC employees are encouraged to take advantage of our casual, corporate environment.
• Location - Conveniently located near both St. Paul and Minneapolis, we are centrally located for most commuters!
• Food - Take advantage of our onsite café, which serves both breakfast and lunch. With a Caribou Coffee attached, you can grab a snack and a coffee at any time during your day.
• Wellness - The Toro Company’s HQ offers complimentary use of our onsite fitness facility to employees. In addition to physical wellbeing, TTC offers a variety of mental health and financial health resources to all employees.
• Volunteerism - The Toro Company is proud to provide employees 20 hours of paid time to volunteer in the community.
• Summer Hours - Enjoy a flexible schedule during the summer! By working a little more during the first few days of the week, TTC employees at our Bloomington HQ are able to start their weekends early and leave by noon on Friday.
• Flexible Work Arrangements - This team is currently implementing a hybrid work schedule. The opportunity to collaborate in the office and work from home part‑time, has promoted team‑building and flexibility.

#LI-Hybrid Competitive Salary - The pay range takes into account skills, experience, education, and location. It is not common to be hired at or near the top of the range; compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the annual pay range is between $96,900 - $121,000. Cash compensation is one piece of our competitive total rewards package. Eligibility and award amounts are determined by company policy and performance metrics. If you need to, you can access your pay early with the dailypay app.

At The Toro Company, we are committed to fostering a secure and trustworthy recruitment experience for our applicants. Recruitment fraud is a growing concern for job seekers, so please be aware that throughout our recruitment process, you’ll never be required to pay any fees or disclose personal financial details when applying to TTC opportunities. All legitimate job opportunities must be applied for directly through our official careers page at jobs.thetorocompany.com or via Workday, our applicant tracking system.

The Toro Company is an Equal Opportunity Employer. We consider all qualified applicants based on merit and do not discriminate on the basis of race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), parental status, national origin, age, disability, genetic information, military service, or other non‑merit factors. We are committed to creating a welcoming environment for all employees.

With roots dating back to 1914, The Toro Company was built on a tradition of quality and caring relationships. Today, the company is a leading worldwide provider of innovative solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. Through a strong network of professional distributors, dealers, rental stores and retailers in more than 125 countries, we proudly offer a wide range of products across a family of global brands to help golf courses, professional contractors, underground construction professionals, groundskeepers, agricultural growers, rental companies, government and educational institutions, and homeowners – in addition to many leading sports venues and historic sites around the world.