Economics Major Salary (2024)

Average Economics Major Salary

To create our salary estimates, Zippia starts with data published in publicly available sources such as the U.S. Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC) Show More

Updated September 14, 2023

$71,876

$35,00010%$71,876Median$144,00090%

What is the average economics major salary in the US?

The national average salary for an economics major in the U.S. is $71,876 annually or $34.56 hourly. The top 10 percent make over $144,000 per year, while the bottom 10 percent make under $35,000 per year. The most abundant employment opportunities for economics majors are in finance companies and technology companies. The top 5 states when it comes to salaries for economics major graduates are New York, New Jersey, Connecticut, California, and Massachusetts.

Best Paying Cities

$84,368

Average Economics Salary By Company

If you are an economics major graduate, you can expect good job security. However, keep in mind that some industries pay better than others. Finance companies and technology companies have the most job opportunities for economics major graduates. Meta and Google are the highest paying companies. Companies like McKinsey & Company Inc and Apple also report very competitive wages for economics major graduates.

Average Salary By Company

Rank	Company	Zippia Score	Average Economics Salary
1	1.Meta	4.9	$126,360
2	2.Google	4.9	$120,623
3	3.McKinsey & Company Inc	4.9	$119,798
4	4.Apple	4.9	$117,134
5	5.Microsoft	4.9	$115,836
6	6.Cisco	4.9	$111,168
7	7.Bloomberg	4.9	$106,886
8	8.Barclays	4.8	$106,320
9	9.Citi	4.9	$103,355
10	10.Goldman Sachs	4.9	$101,688
11	11.BNY Mellon	4.9	$101,130
12	12.Ernst & Young	4.9	$100,497
13	13.General Motors	4.8	$100,061
14	14.State Street	4.9	$99,088
15	15.Credit Suisse	4.9	$98,986
16	16.AIG	4.8	$98,744
17	17.IBM	4.8	$98,197
18	18.Deutsche Bank	4.9	$97,444
19	19.Merrill Lynch	4.9	$94,081
20	20.Morgan Stanley	4.9	$93,553

Average Economics Major Salary By City

Across America, economics major graduates make on average $71,876 annually or $34.56 hourly. The city with the highest salaries for economics major graduates is San Francisco, CA at $84,368 per year. The average entry-level salary in San Francisco, CA is $42,000. Other cities that offer high paying job opportunities for economics majors are New York, NY, Jersey City, NJ, Hartford, CT, Washington, DC, Boston, MA, and Des Moines, WA. The top 5 states with the highest reported salaries for economics major graduates are New York, New Jersey, Connecticut, California, and Massachusetts. Utah, Wyoming, and Montana have the lowest wages for economics major graduates.

Average Salary By Location

Rank	City	Average Economics Salary	Salary Range
1	San Francisco, CA	$84,368	$44k $120k
2	New York, NY	$84,076	$44k $120k
3	Jersey City, NJ	$81,571	$44k $120k
4	Hartford, CT	$80,425	$44k $120k
5	Washington, DC	$80,322	$44k $120k
6	Boston, MA	$79,149	$44k $120k
7	Des Moines, WA	$76,224	$44k $120k
8	Providence, RI	$75,288	$44k $120k
9	Arlington, VA	$74,209	$44k $120k
10	Baltimore, MD	$73,519	$44k $120k
11	Philadelphia, PA	$72,549	$44k $120k
12	Albany, OR	$69,317	$44k $120k
13	Chicago, IL	$69,061	$44k $120k
14	Raleigh, NC	$68,348	$44k $120k
15	Portland, ME	$67,629	$44k $120k
16	San Antonio, TX	$66,556	$44k $120k
17	Saint Paul, MN	$66,411	$44k $120k
18	Columbus, OH	$65,216	$44k $120k
19	Phoenix, AZ	$64,763	$44k $120k
20	Madison, WI	$64,671	$44k $120k

Average Economics Major Salary By State

The darker areas on the map show where Economics Majors earn the highest salaries across all 50 states.

Average Salary

Economics Major Average Salary By State

State	Average Economics Major Salary	Average Hourly Rate
New York	$83,892	$40.33
New Jersey	$81,400	$39.13
Connecticut	$80,505	$38.70
California	$79,803	$38.37
Massachusetts	$79,200	$38.08
Washington	$75,537	$36.32
Rhode Island	$75,362	$36.23
Delaware	$73,377	$35.28
Maryland	$73,266	$35.22
Virginia	$72,999	$35.10
Pennsylvania	$72,261	$34.74
New Hampshire	$71,578	$34.41
Michigan	$69,157	$33.25
Oregon	$69,091	$33.22
Illinois	$68,946	$33.15
Nevada	$67,972	$32.68
North Carolina	$67,364	$32.39
Maine	$67,156	$32.29
Vermont	$67,058	$32.24
Minnesota	$66,479	$31.96
Texas	$65,910	$31.69
Ohio	$65,751	$31.61
Wisconsin	$65,377	$31.43
Arizona	$64,755	$31.13
Alaska	$64,692	$31.10
Colorado	$63,920	$30.73
Georgia	$63,248	$30.41
West Virginia	$62,719	$30.15
Indiana	$61,508	$29.57
Hawaii	$60,696	$29.18
New Mexico	$60,606	$29.14
North Dakota	$60,372	$29.02
Missouri	$60,203	$28.94
South Carolina	$60,164	$28.93
Louisiana	$60,114	$28.90
Kentucky	$60,094	$28.89
South Dakota	$59,584	$28.65
Tennessee	$59,521	$28.62
Idaho	$59,353	$28.54
Iowa	$59,193	$28.46
Florida	$59,046	$28.39
Alabama	$59,025	$28.38
Nebraska	$58,366	$28.06
Kansas	$58,182	$27.97
Utah	$57,867	$27.82
Wyoming	$57,644	$27.71
Montana	$57,365	$27.58
Arkansas	$55,631	$26.75
Mississippi	$55,485	$26.68
Oklahoma	$55,436	$26.65

Highest Paying Jobs For Economics Majors

Rank	Job Title	Average Salary	Open Jobs
1	Investment Associate	$127,205	39,012
2	Investment Banking Associate	$119,967	39,516
3	Attorney	$109,476	10,991
4	Economist	$109,102	1,029
5	Data Scientist	$106,104	106,973
6	Quantitative Analyst	$101,197	48,644
7	Software Engineer	$100,259	339,938
8	Management Consultant	$99,360	153,045
9	Senior Business Analyst	$96,843	129,426
10	Actuarial Associate	$92,434	2,831
11	Real Estate Agent	$91,787	41,399
12	Wealth Management Advisor	$91,605	127,946
13	Trader	$90,178	17,351
14	Business Consultant	$87,213	128,033
15	Senior Analyst	$84,799	159,807
16	Statistician	$84,726	17,782
17	Senior Finance Analyst	$83,222	117,609
18	Strategic Business Analyst	$83,070	134,684
19	Economic Consultant	$81,766	75,508
20	Risk Analyst	$81,483	71,284

Average Economics Major Salary By Industry

Wages for economics major graduates can differ based on the industry they work in. By looking at our data, we can see that finance companies, technology companies, and professional companies pay economics major graduates well. Finance companies pay economics major graduates an average salary of $84,503, technology companies pay $84,227, and professional companies come in at $66,266. At $43,378, the average salary for economics majors in the government industry is lower than other industries.

Average Salary By Industry

Rank	Industry	Average Economics Major Salary	Range
1	Finance	$84,503	$32k $119k
2	Technology	$84,227	$32k $119k
3	Professional	$66,266	$32k $119k
4	Manufacturing	$62,943	$32k $119k
5	Media	$58,012	$32k $119k
6	Telecommunication	$54,259	$32k $119k
7	Health Care	$50,719	$32k $119k
8	Retail	$50,088	$32k $119k
9	Education	$45,074	$32k $119k
10	Government	$43,378	$32k $119k

Salary History For Economics Major Graduates

This data shows the national average salary between 2011-2020 among Economics major graduates.

Economics Major Salary By Experience Level

The salary for an economics major graduate can range from $42,119 to $131,475 depending on the amount of work experience that the person has. Data on how experience level affects salary is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment.

Average Salary By Experience Level salary by experience level

Experience Level	Avg. Salary	Hourly Rate
Entry-level average salary by experience level	$42,100	$20.25
Mid-level average salary by experience level	$61,600	$29.63
Senior-level average salary by experience level	$131,000	$63.21

Salaries For Related Majors

Rank	Major	Average Salary	Range
1	International Relations	$60,634	$28k $85k
2	Geography	$60,412	$28k $85k
3	Sociology And Anthropology	$57,070	$28k $85k
4	Political Science	$52,859	$28k $85k
5	Urban Studies	$49,227	$28k $85k
6	Anthropology	$46,800	$28k $85k
7	Criminology	$46,597	$28k $85k
8	Social Sciences	$42,879	$28k $85k
9	Sociology	$40,376	$28k $85k

Related Salaries

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Updated September 14, 2023