Costing Engineer - Innovation Ventures

CREATIVITY IS OUR SUPERPOWER. It’s our heritage and it’s also our future. Because we don’t just make toys. We create innovative products and experiences that inspire fans, entertain audiences and develop children through play. Mattel is at its best when every member of our team feels respected, included, and heard—when everyone can show up as themselves and do their best work every day. We value and share an infinite range of ideas and voices that evolve and broaden our perspectives with a reach that extends into all our brands, partners, and suppliers.

The Team:

Innovation Ventures is where Mattel builds what's next. As our entrepreneurial innovation studio, Innovation Ventures exists to create the next generation of breakthrough brands, new business models, and entirely new ways to play. Operating with the agility of a startup and the resources of one of the world's leading toy companies, our team turns emerging consumer insights into bold new concepts that have the potential to become Mattel's next growth driver. If you're energized by ambiguity, passionate about solving problems in new ways, and excited by the opportunity to build something from the ground up, Innovation Ventures offers the rare chance to shape the future of play while making a lasting impact on Mattel's long-term growth.

The Opportunity: 

Mattel is seeking a Cost Engineer located at our El Segundo, CA campus to support the development of innovative products by providing cost analysis, cost modeling, value engineering, and cost intelligence throughout the product development lifecycle. Contribute to the development of scalable costing methodologies, cost knowledge, and category-level cost insights that support sustainable cost leadership. Working closely with Product Development, Design, Sourcing, Finance, and Manufacturing teams, you will help ensure products achieve cost targets while maintaining quality, performance, and consumer value.

What Your Impact Will Be: 

• Develop and maintain product cost estimates from concept through production, while helping identify category and platform cost trends that can inform future product strategies.
• Prepare cost analyses to support design decisions, supplier negotiations, and cost reduction initiatives.
• Evaluate product, tooling, packaging, and manufacturing costs to identify opportunities for optimization.
• Partner with Product Development and Design teams to balance cost, quality, and performance objectives.
• Participate in Value Analysis / Value Engineering (VA/VE) activities to achieve target costs and help identify opportunities for broader application of best practices across products and platforms.
• Support cost publishing and reporting at key project milestones.
• Collaborate with suppliers and manufacturing partners to understand cost drivers and recommend improvements.
• Support the standardization and continuous improvement of cost engineering methodologies, tools, and reporting practices.
• Assist in the development of scalable cost estimation tools, cost models, and knowledge repositories that improve consistency, transparency, and decision-making.
• Work closely with Sourcing, Finance, and Product Development teams to support business decision-making and product profitability.

What We’re Looking For: 

• Bachelor's degree in Mechanical Engineering, Industrial Engineering, Manufacturing Engineering, or a related field.
• 1+ years of experience in cost engineering, product development, manufacturing, sourcing, or a related function.
• Strong analytical skills with experience in product costing, BOM analysis, and manufacturing processes.
• Knowledge of plastics, injection molding, tooling, and consumer product manufacturing is preferred.
• Demonstrated ability to identify cost drivers, synthesize insights, and communicate recommendations that support product and business decision-making.
• Advanced Microsoft Excel skills and proficiency with Microsoft Office applications.
• Strong written and verbal communication skills.
• Demonstrated a growth mindset by staying curious and continuously learning, embracing challenges, and improving themselves.

Don’t meet every single requirement? At Mattel, we are dedicated to an inclusive workplace and a culture of belonging. If you’re excited about this role but your past experience doesn’t align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles. Join Mattel's Talent Community and start receiving exciting updates about our company, our employees, and our culture. Also, interested in signing up for job alerts? Do so here!

How We Work:
We are a purpose driven company aiming to empower generations to explore the wonder of childhood and reach their full potential. We live up to our purpose employing the following behaviors:

• We collaborate: Being a part of Mattel means being part of one team with shared values and common goals. Every person counts and working closely together always brings better results. Partnership is our process and our collective capabilities is our superpower.
• We innovate: At Mattel we always aim to find new and better ways to create innovative products and experiences. No matter where you work in the organization, you can always make a difference and have real impact. We welcome new ideas and value new initiatives that challenge conventional thinking.
• We execute: We are a performance-driven company. We strive for excellence and are focused on pursuing best-in-class outcomes. We believe in accountability and ownership and know that our people are at their best when they are empowered to create and deliver results.

Our Approach to Flexible Work:
This role is an in-office role Monday-Thursday, and work from home on Fridays. We embrace a flexible work model designed to empower a culture of growth, optimism, and wellbeing, where every employee can reach their full potential. Combining purposeful in-person collaboration with flexibility, our focus is to optimize performance and drive connection for moments that matter.

Who We Are:
Mattel is a leading global toy and family entertainment company and owner of one of the most iconic brand portfolios in the world. We engage consumers and fans through our franchise brands, including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO, Masters of the Universe, Matchbox, Monster High, MEGA and Polly Pocket, as well as other popular properties that we own or license in partnership with global entertainment companies. Our offerings include toys, content, consumer products, digital and live experiences. Our products are sold in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering generations to explore the wonder of childhood and reach their full potential.

Mattel’s award-winning workplace culture has been recognized by Forbes, Fast Company, Newsweek, Great Place to Work, TIME, and more.

Visit us at https://jobs.mattel.com/ and www.instagram.com/MattelCareers.
Beware of recruiting scams: Mattel will only contact you through official @mattel.com or @smartrecruiters.com email addressesand will never ask for payment or sensitive personal information during the hiring process.

Mattel is an Equal Opportunity Employer where we want you to bring your authentic self to work every day. We welcome all job seekers, and all applicants will receive consideration for employment without regard to race, ethnicity, color, national origin, religion, sex, gender, gender identity or expression, sexual orientation, veteran and protected veteran status, disability status, and or any other basis protected by applicable federal, state or local law.

Pursuant to the Los Angeles Fair Chance Ordinance and the California Fair Chance Act, qualified applicants with arrest or conviction records will be considered for employment.

The pay range for this position is between $84,000 and $95,000 annual. The pay range is indicative of projected hiring range, however base pay will be determined based on a candidate’s work location, skills and experience. Mattel offers competitive total pay programs, comprehensive benefits, and resources to help empower a culture where every employee can reach their full potential. 

Videos to watch:
The Culture at Mattel
Corporate Philanthropy