Cost Engineer (f/m/d) (Wirtschaftsingenieur/in)
Siemens Energy
Company Overview
Siemens Energy AG
Munich, Germany
2020
Approximately 96,000 employees worldwide (source: siemens-energy.com). Revenue of 31 billion euros in fiscal year 2023 (source: siemens-energy.com).
What They Do
Siemens Energy focuses on energy technology across the entire value chain, including power generation, transmission, and storage. Core areas include gas turbines, steam turbines, hybrid power plants with hydrogen, power generators, transformers, and renewable technologies led by Siemens Gamesa Renewable Energy (SGRE). This positioning makes the company a global leader in wind energy, with technologies estimated to support about one-sixth of the world's electricity generation (source: siemens-energy.com). The products and services include both conventional and renewable energy solutions, such as onshore and offshore wind turbines from SGRE, grid infrastructure, and hydrogen electrolysis systems that help customers reduce carbon emissions and enhance efficiency through integrated systems for resilient energy grids (source: energydigital.com).
Projects & Track Record
Notable completed projects include the first power plant in South Africa, built in 1895 by Siemens' predecessors, as well as the introduction of high-voltage direct current systems in 1903. Modern achievements include the manufacturing of critical components for regional energy centers and supporting one-sixth of global electricity through its technologies (source: energydigital.com). Current major projects include a 280-megawatt electrolysis system being delivered to the utility EWE in Germany, expected to produce up to 23,000 tons of green hydrogen annually. Additionally, there are localization efforts such as the Siemens Energy Dammam Hub in Saudi Arabia for component manufacturing to strengthen resilient energy sectors (source: energydigital.com).
Recent Developments
In the past two years, Siemens Energy reported strong results for fiscal year 2023 with a revenue of 31 billion euros, despite challenges in the wind business. The company achieved all annual targets and set goals for 2028, aiming for a profit margin of 14-16% before special items and annual revenue growth in the low double digits (source: siemens-energy.com). Recent announcements include securing an investment-grade rating from Moody’s and agreements to accelerate wind order growth. By the end of 2025, 85% of revenue for fiscal year 2026 and 60% for 2027 had already been secured (source: siemens-energy.com).
Working There
Siemens Energy offers positions in engineering, project management, manufacturing, sales, research and development, as well as leadership roles. Departments include Gas Services, Grid Technologies, Siemens Gamesa (Wind), Hydrogen, and corporate areas for finance, execution, and innovation. The corporate culture emphasizes a decentralized approach that has been maintained since the spin-off, with CEO Christian Bruch highlighting the passion of "Team Purple" for energy challenges and innovation in Berlin (source: siemens-energy.com). Hiring occurs at key locations in Germany, including Berlin, Erlangen, and Mülheim, as well as at global expansion sites to meet the high demand for electrification and wind remediation roles (source: siemens.com).
Last updated on May 29, 2026 | Report an issue
Job Description
As a Cost Engineer (f/m/d), you will drive diverse projects and initiatives. The major objective of Cost and Value Engineering is the generation of high customer value at competitive target costs in product, project and solution business. Generating transparency in the respective cost and value drivers along the entire value chain by applying state of the art Cost and Value Engineering (CVE) methodology.
How You'll Make an Impact
- Leadership of Cost and Value Engineering initiatives that improve competitiveness and profitability by embedding CVE practices into core business processes
- Establishment of cost and value transparency across products, solutions, and third-party scopes using should-costing methodologies and tools such as TcPCM, aPriori, MLPP, and CBD
- Support target setting and Design-to-Cost activities by aligning customer needs, competitor insights, technical capabilities, and development requirements
- Execution of should-cost analyses and assess supplier quotations to enable informed sourcing decisions and strengthen supplier cost transparency
- Identification and realization of cost-out opportunities across the portfolio through cross-functional workshops, innovation efforts, design-for-manufacturing activities, and efficiency projects
- Tracking of CVE measures in cost management tools, support proposal teams in developing savings initiatives, and communicate recommendations clearly to stakeholders, including leadership
What You Bring
- University Degree in engineering; master's degree is preferred
- Fluency in English with cross-cultural collaboration experience as well as good German skills
- Experience in should costing methods and realization of cost and value optimization opportunities
- Experience in project management, negotiation with external suppliers, machining, forging and coating of "cold" blades and vanes (manufacturing of compressor and/or steam turbine blading) is a plus
- Strong communication and interpersonal skills for collaboration with internal stakeholders and suppliers, combined with analytical capability for cost driver identification
- Proficiency in Microsoft Excel and Office tools, with willingness to travel to suppliers and production sites. Experience working with TcPCM, aPriori and NX is preferred
About the Team
In our Business Functions we enable our organization to reach their targets by providing best-in class services and solutions in the areas of IT, HR, Finance, Real Estate, Strategy & Technology and more.
Our Commitment to Diversity
Lucky for us, we are not all the same. Through diversity we generate power. We run on inclusion and our combined creative energy is fueled by over 130 nationalities. Siemens Energy celebrates character - no matter what ethnic background, gender, age, religion, identity, or disability. We energize society, all of society, and we do not discriminate based on our differences.
Rewards/Benefits
- In addition to an attractive remuneration package in line with the market, you can expect an attractive employer-financed company pension scheme
- We also offer the opportunity to become a Siemens Energy shareholder
- We offer our employees the opportunity to work flexibly and remotely, and our inspiring offices provide space for collaboration and creativity
- The professional and personal development of our employees is very important to us. We provide them with the opportunities to learn and develop in a self-determined way, various attractive programmes and learning materials are available for this purpose
- In relation to the "compatibility of family and work", we have a wide range of offers, e.g. flexible working time models, childcare places at many locations, the possibility of trial part-time work or even a sabbatical
We value equal opportunities and welcome applications from people with disabilities.
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Apply now
Job expired?Please let Siemens Energy know you found this job on Rejobs. It helps us grow and get more people working in renewable energy.
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About the role
June 7, 2026
Full time
Company
June 7, 2026
Flexible
Solar Energy , Wind Energy , Hydropower , Bioenergy , Energy Storage , Geothermal Energy , Hydrogen , EV Charging Infrastructure , Smart Grid
- Mülheim an der Ruhr, Germany
Preferred experience in engineering and project management
UTC+01:00