Economist Salary (2025)
Economists study how resources are produced and distributed.
The median Economist salary is $113,000 per year ($54/hour). Entry-level Economists earn around $75,000 while experienced Economists earn $170,000 or more annually.
Salary variation for economists in business is influenced by factors such as experience, specialization, and geographic location. Specializations in data analysis and econometrics typically command higher salaries, with top roles in finance and consulting paying over $170,000. Economists in cities like San Francisco and New York often earn 20-30% more than the national median due to higher living costs.
AI-generated insight based on BLS data · For reference only
Salary Range
Median: $113,000 — positioned between entry and senior
Top Paying States for Economists
| State | Est. Annual Salary | vs. National |
|---|---|---|
| Hawaii | $160,000 | +42% |
| California | $156,000 | +38% |
| New York | $145,000 | +28% |
| Alaska | $141,000 | +25% |
| Massachusetts | $141,000 | +25% |
| New Jersey | $136,000 | +20% |
| Connecticut | $133,000 | +18% |
| Washington | $130,000 | +15% |
Estimates based on cost-of-living index adjustments. Actual salaries vary by employer and experience.
How to Become a Economist
Most Economist positions require: Master's or PhD in Economics. Salaries typically increase significantly with experience and specialization.
Economist Salary by State
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Frequently Asked Questions
What is the average Economist salary?
The median Economist salary is $113,000 per year, which works out to approximately $54/hour based on a 40-hour work week.
How much does an entry-level Economist make?
Entry-level Economists typically earn around $75,000 per year. Salaries grow significantly with experience and specialization.
What is a senior Economist's salary?
Experienced Economists can earn up to $170,000 or more annually depending on location, employer, and specialization.
What education is required to become a Economist?
Most Economist positions require: Master's or PhD in Economics.