Product Cost Engineer

Meta; Sunnyvale (CA); On-site; USD 167,000 - 230,000; Full time

Job summary

Join a forward-thinking company as a Product Cost Engineer, where you will have the chance to shape the future of innovative hardware. This role is crucial in managing the financial health of products from ideation to end-of-life, collaborating with cross-functional teams to drive strategic planning and cost management. You'll leverage your engineering background to develop complex financial models, monitor costs, and ensure profitability. If you are passionate about immersive technologies and want to make a significant impact, this opportunity is perfect for you.

Benefits

Bonus

Equity

Comprehensive Benefits

Qualifications

• 5+ years in product cost management in hardware technology.
• Advanced data analysis skills with tools like Power BI and SQL.

Responsibilities

• Develop financial models for forecasting and decision-making.
• Monitor costs and implement corrective actions to stay on track.

Skills

Data Analysis

Financial Planning

Cost Management

Problem Solving

Cross-functional Communication

Education

BS in Electrical Engineering

BS in Mechanical Engineering

Masters in Finance or Business Administration

Tools

Power BI

Tableau

SQL

Excel

Job description

As a Product Cost Engineer at Meta Reality Labs, you have the exciting opportunity to contribute to the development of innovative hardware that revolutionizes how people work, play, and connect. Your role is pivotal in ensuring the financial health of your product throughout its entire lifecycle, from initial ideation and design phases to eventual end-of-life. Leveraging your robust engineering background, you will collaborate closely with various cross-functional teams, including Operations, Engineering, Product Management, Sourcing, Finance, and Contract Manufacturing. By working together, you will drive product budgets and maintain a robust supply chain. Furthermore, you will play a crucial role in influencing product architecture and business strategic planning.

You will assume ownership of projecting and monitoring a healthy profit and loss (P&L) statement by accurately forecasting and tracking revenue, costs, and margins to ensure the overall financial well-being and success of the product. This is your chance to make a significant impact while being part of shaping the future of immersive technologies.

Responsibilities

1. Develop and maintain complex financial models to enhance forecasting, allowing businesses to make informed decisions about portfolio, pricing strategies, and resource allocation.
2. Draw upon your technical expertise to collaborate with engineering and supply chain teams to attain program cost targets at both the product and commodity levels for your specific project.
3. Regularly monitor program actual costs versus targets, identifying deltas and implementing corrective actions as necessary to keep costs on track.
4. Meticulously outline, report, and track all risks and opportunities related to product cost, driving them to closure.
5. Actively partake in cross-functional reviews to assess cost implications of product, operational, engineering, and process changes.
6. Champion the sharing of best practices for cost management across various teams and contribute to the creation of scalable processes by documenting some of the organization's best practices.
7. Manage the profit and loss (P&L) by skillfully overseeing and optimizing costs, and margins to achieve financial targets and contribute positively to the overall success of the product.
8. Drive strategic planning with product and portfolio impact, review demand plans, and analyze sales performance.
9. Provide expertise in risk management, advising on additional builds and volume, ensuring that our business remains competitive while minimizing risks.
10. Develop proposals to drive Total Cost per Unit (COGs & OCOGs) reduction and sales growth.
11. Serve as an advisor to the accessories leadership, presenting and providing valuable insights and guidance to drive growth and profitability.

Minimum Qualifications

1. BS in Electrical Engineering, Mechanical Engineering, Manufacturing or Operations Engineering, with Masters in Finance or Business Administration.
2. 5+ years of experience in a similar role with a proven track record of effectively managing profit and loss (P&L) statements and product cost management roles in hardware technology products.
3. Advanced data analysis and visualization skills, including proficiency with software platforms like Power BI, Tableau, SQL, and Excel.
4. Experience communicating and facilitating with cross-functional teams.
5. Experience in understanding of financial planning, budgeting, forecasting, and cost control principles.
6. Experience with problem solving.

Preferred Qualifications

1. 3+ years of experience in a financial, accounting or strategic planning role.

$167,000/year to $230,000/year + bonus + equity + benefits

Individual compensation is determined by skills, qualifications, experience, and location. Compensation details listed in this posting reflect the base hourly rate, monthly rate, or annual salary only, and do not include bonus, equity or sales incentives, if applicable. In addition to base compensation, Meta offers benefits. Learn more about benefits at Meta.