Product Cost Engineer

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, Design 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 by providing valuable support to cross-functional teams through trade-off analysis.

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.

Product Cost Engineer Responsibilities

• Actively support cross-functional teams in the management and reporting of Total Cost per Unit, encompassing Materials, Capital Expenditures (CAPEX), Operational Expenses (OPEX), Manufacturing Value Add (MVA), and Operational Cost of Goods Sold (OCOGS).

Develop and utilize should-cost models for early cost simulations, product category boundary decisions, and minimum viable product (MVP) determinations.

Leverage cost models to inform supply chain and scalability strategies.

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.

Engage with hardware teams at a technical level to identify and capitalize on cost reduction opportunities.

Regularly monitor program actual costs versus targets, identifying deltas and implementing corrective actions as necessary to keep costs on track.

Meticulously outline, report, and track all risks and opportunities related to product cost, driving them to closure.

Lead cross-functional cost reviews, reporting actual versus target costs and risks and opportunities for your program.

Actively partake in cross-functional reviews to assess cost implications of product, operational, engineering, and process changes.

Collaborate with both Sourcing and Engineering to align on Supplier Plan of Record (SPOR), ensuring low costs and stable supply.

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.

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.

Minimum Qualifications

• BS or higher in Electrical Engineering, Mechanical Engineering, Manufacturing & Operations Engineering, or equivalent experience.
  5+ years of experience in product cost management roles in hardware technology products.

Demonstrated expertise in effective communication to facilitate successful collaboration and idea exchange within the team.

5+ years of experience in a similar role with proven track record of effectively managing profit and loss (P&L) statements.

Experience in understanding of financial planning, budgeting, forecasting, and cost control principles.

Experience adjusting to different communication styles and balancing non-cost variables.

Experience working with suppliers with diverse cultural and geographic backgrounds.

Problem solving, analytical and communication skills.

Preferred Qualifications

• Master's degree, MBA.
  8+ years of experience in product cost management roles in hardware technology products.

Locations

About Meta

Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect.

Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology. People who choose to build their careers by building with us at Meta help shape a future that will take us beyond what digital connection makes possible today-beyond the constraints of screens, the limits of distance, and even the rules of physics.

Meta is committed to providing reasonable support (called accommodations) in our recruiting processes for candidates with disabilities, long term conditions, mental health conditions or sincerely held religious beliefs, or who are neurodivergent or require pregnancy-related support. If you need support, please reach out to accommodations-ext@fb.com.

$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.