Updated September 14, 2023
Average economist 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$109,102
$52.45 hourly rate
Entry-level economist salary
$73,000 yearly salary
How much does an economist make?
The average economist salary in the United States is $109,102. Economist salaries typically range between $73,000 and $162,000 yearly. The average hourly rate for economists is $52.45 per hour.
Economist salary is impacted by location, education, and experience. Economists earn the highest average salary in Montana, South Dakota, Oklahoma, New York, and Washington.
Economist salary summary.
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The average salary for an economist is $109,102 in the US. -
The average economist salary ranges between $73,000 and $162,000 in the US. -
Economists' hourly rates in the US typically range between $35 and $77 an hour. -
Economists earn the highest salaries in Montana ($122,971), South Dakota ($118,192), and Oklahoma ($115,724). -
Economist salaries at Cornerstone Research are the highest of any company. -
Economists in the professional industry are the highest-paid in the US.
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Average economist salary by state
The highest-paying states for economists are Montana, South Dakota, and Oklahoma. The lowest average economist salary states are Wisconsin, Wyoming, and Nebraska.
- State View
- County View
Average Salary:
Highest paying states for economists
| Rank | State | Avg. Salary | Hourly Rate | Job Count |
|---|---|---|---|---|
| 1 | District of Columbia | $133,286 | $64.08 | 51 |
| 2 | Washington | $112,309 | $53.99 | 60 |
| 3 | New York | $115,621 | $55.59 | 46 |
| 4 | Massachusetts | $111,410 | $53.56 | 41 |
| 5 | Vermont | $111,619 | $53.66 | 2 |
| 6 | Virginia | $108,871 | $52.34 | 38 |
| 7 | Oklahoma | $115,724 | $55.64 | 3 |
| 8 | Montana | $122,971 | $59.12 | 1 |
| 9 | North Dakota | $103,218 | $49.62 | 2 |
| 10 | Alaska | $105,466 | $50.70 | 5 |
| 11 | Iowa | $106,886 | $51.39 | 5 |
| 12 | South Dakota | $118,192 | $56.82 | |
| 13 | Missouri | $101,909 | $48.99 | 10 |
| 14 | California | $107,622 | $51.74 | 89 |
| 15 | Maryland | $101,081 | $48.60 | 22 |
| 16 | West Virginia | $100,988 | $48.55 | 1 |
| 17 | Delaware | $99,631 | $47.90 | 2 |
| 18 | Illinois | $97,758 | $47.00 | 33 |
| 19 | Kansas | $102,205 | $49.14 | |
| 20 | Utah | $100,906 | $48.51 | 2 |
| 21 | Maine | $103,517 | $49.77 | |
| 22 | Colorado | $97,285 | $46.77 | 20 |
| 23 | Kentucky | $98,496 | $47.35 | 2 |
| 24 | New Mexico | $90,494 | $43.51 | 12 |
| 25 | Nevada | $96,140 | $46.22 | 3 |
| 26 | South Carolina | $96,645 | $46.46 | 4 |
| 27 | Connecticut | $94,774 | $45.56 | 7 |
| 28 | North Carolina | $92,552 | $44.50 | 13 |
| 29 | Oregon | $90,629 | $43.57 | 12 |
| 30 | Texas | $90,142 | $43.34 | 32 |
| 31 | Rhode Island | $96,656 | $46.47 | |
| 32 | Mississippi | $90,129 | $43.33 | 2 |
| 33 | Minnesota | $90,938 | $43.72 | 8 |
| 34 | New Hampshire | $93,291 | $44.85 | 1 |
| 35 | Arkansas | $85,253 | $40.99 | 3 |
| 36 | Michigan | $87,695 | $42.16 | 6 |
| 37 | Indiana | $84,741 | $40.74 | 6 |
| 38 | Ohio | $82,994 | $39.90 | 12 |
| 39 | Louisiana | $81,389 | $39.13 | 5 |
| 40 | Wyoming | $62,910 | $30.25 | 4 |
| 41 | Pennsylvania | $77,708 | $37.36 | 20 |
| 42 | New Jersey | $82,027 | $39.44 | 10 |
| 43 | Idaho | $65,994 | $31.73 | 3 |
| 44 | Hawaii | $61,127 | $29.39 | 5 |
| 45 | Georgia | $82,820 | $39.82 | 7 |
| 46 | Arizona | $65,726 | $31.60 | 10 |
| 47 | Alabama | $73,836 | $35.50 | 1 |
| 48 | Nebraska | $62,359 | $29.98 | 2 |
| 49 | Wisconsin | $64,442 | $30.98 | 2 |
| 50 | Florida | $57,725 | $27.75 | 14 |
| 51 | Tennessee | $59,753 | $28.73 | 2 |
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Top economist jobs near you
Highest paying cities for economists
The highest-paying cities for economists are Washington, DC, Harrison, NY, and Sacramento, CA.
| Rank | City | Avg. Salary | Hourly Rate | Job Count |
|---|---|---|---|---|
| 1 | Washington, DC | $133,800 | $64.33 | 30 |
| 2 | Harrison, NY | $115,868 | $55.71 | |
| 3 | Sacramento, CA | $114,236 | $54.92 | 5 |
| 4 | Seattle, WA | $112,814 | $54.24 | 9 |
| 5 | Boston, MA | $111,342 | $53.53 | 6 |
| 6 | McLean, VA | $110,175 | $52.97 | 1 |
| 7 | Kansas City, KS | $103,094 | $49.56 | |
| 8 | Saint Louis, MO | $102,888 | $49.47 | 1 |
| 9 | Baltimore, MD | $101,216 | $48.66 | 2 |
| 10 | Chicago, IL | $98,105 | $47.17 | 2 |
| 11 | Denver, CO | $97,167 | $46.71 | 2 |
| 12 | Providence, RI | $96,650 | $46.47 | |
| 13 | Stamford, CT | $94,661 | $45.51 | |
| 14 | Plano, TX | $93,812 | $45.10 | |
| 15 | Charlotte, NC | $91,272 | $43.88 | 2 |
| 16 | Portland, OR | $90,534 | $43.53 | 1 |
| 17 | Cleveland, OH | $83,742 | $40.26 | |
| 18 | Chamblee, GA | $83,684 | $40.23 | |
| 19 | Baton Rouge, LA | $81,165 | $39.02 | 1 |
| 20 | Philadelphia, PA | $77,822 | $37.41 | 1 |
Economist salary details
An economist's salary ranges from $73,000 a year at the 10th percentile to $162,000 at the 90th percentile.
What is an economist's salary?
| Percentile | Annual Salary | Monthly Salary | Hourly Rate |
|---|---|---|---|
| 90th Percentile | $162,000 | $13,500 | $78 |
| 75th Percentile | $134,000 | $11,167 | $64 |
| Average | $109,102 | $9,092 | $52 |
| 25th Percentile | $88,000 | $7,333 | $42 |
| 10th Percentile | $73,000 | $6,083 | $35 |
Highest paying economist jobs
The highest paying types of economists are economist research assistant, senior economist, and econometrician.
| Job Title | Annual Salary | Monthly Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| Economic Development Internship | $37,977 | $3,165 | $18.26 | 92,622 |
| Economic Developer | $51,285 | $4,274 | $24.66 | 72,804 |
| Agricultural Economist | $71,697 | $5,975 | $34.47 | 1,119 |
| Energy Economist | $58,368 | $4,864 | $28.06 | 3,512 |
How would you rate the starting salaries for Economists, as well as the prospects for salary advancement?
Yoav Wachsman Ph.D.
Assistant Dean, Professor - Economics, Coastal Carolina University
According to the Occupational Outlook Handbook, which the Bureau of Labor Statistics published, the median salary for economists in 2019 is $105,020 per year. The BLS estimates a growth of 14% in positions for economists over the next ten years, making economics one of the most lucrative and promising fields to study.
Top companies hiring economists now:
Which companies pay economists the most?
Economist salaries at Cornerstone Research and Davis Polk & Wardwell are the highest-paying according to our most recent salary estimates. In addition, the average economist salary at companies like Shell and Federal Reserve Bank Services are highly competitive.
| Rank | Company | Average Salary | Hourly Rate |
|---|---|---|---|
| 1 | Cornerstone Research | $180,549 | $86.80 |
| 2 | Davis Polk & Wardwell | $171,810 | $82.60 |
| 3 | Shell Trading | $164,414 | $79.05 |
| 4 | Federal Reserve Bank Services | $163,227 | $78.47 |
| 5 | Federal Reserve Bank of New York | $162,890 | $78.31 |
| 6 | U.S. Securities and Exchange Commission | $161,907 | $77.84 |
| 7 | Federal Reserve Bank of Boston | $161,042 | $77.42 |
| 8 | Federal Reserve Bank of San Francisco | $158,029 | $75.98 |
| 9 | McKinsey & Company Inc | $157,656 | $75.80 |
| 10 | Federal Reserve Bank of Dallas | $156,968 | $75.47 |
| 11 | Boston Consulting Group | $155,736 | $74.87 |
| 12 | Federal Reserve | $151,759 | $72.96 |
| 13 | Analysis Group | $147,677 | $71.00 |
| 14 | Baker McKenzie | $145,097 | $69.76 |
| 15 | eBay | $143,223 | $68.86 |
| 16 | $142,086 | $68.31 | |
| 17 | Littler Mendelson | $140,890 | $67.74 |
| 18 | DLA Piper | $140,542 | $67.57 |
| 19 | LECG Corp | $140,462 | $67.53 |
| 20 | Genentech | $139,030 | $66.84 |
Economist salary by industry
The average economist salary varies across industries:
- The average economist salary in the professional industry is $122,496, the highest of any industry.
- The average economist salary in the finance industry is $121,880.
- Economists in the government industry earn an average salary of $97,037, the lowest of any industry.
Highest paying industries for economists
| Rank | Industry | Average Salary | Hourly Rate |
|---|---|---|---|
| 1 | Professional | $122,496 | $58.89 |
| 2 | Finance | $121,880 | $58.60 |
| 3 | Telecommunication | $120,960 | $58.15 |
| 4 | Technology | $120,081 | $57.73 |
| 5 | Government | $97,037 | $46.65 |
High Paying Economist Jobs
Economist salary trends
The average economist salary has risen by $17,924 over the last ten years. In 2014, the average economist earned $91,178 annually, but today, they earn $109,102 a year. That works out to a 7% change in pay for economists over the last decade.
Compare economist salaries for cities or states with the national average over time.
Average economist salary over time
Compare economist salaries for individual cities or states with the national average.
Economist salary by year
| Year | Avg. Salary | Hourly Rate | % Change |
|---|---|---|---|
| 2023 | $109,000 | $52.45 | +3.1% |
| 2022 | $106,000 | $50.84 | +0.6% |
| 2021 | $105,000 | $50.51 | +1.8% |
| 2020 | $103,000 | $49.62 | +1.4% |
| 2019 | $102,000 | $48.92 | +1.9% |
Show more
Recently added economist salaries
| Company | Job | Location | Date Added | Salary |
|---|---|---|---|---|
| Ernst & Young U.S. LLP | Economists-Kbgfjg | New York, NY | 12/01/2023 | $141,000 |
| Ernst & Young U.S. LLP | Economists-Kbgfjg | Houston, TX | 12/01/2023 | $141,000 |
| Ernst & Young U.S. LLP | Economists-Kbgfjg | New York, NY | 12/01/2023 | $141,000 |
| Ernst & Young U.S. LLP | Economists-Kbgfjg | Houston, TX | 12/01/2023 | $141,000 |
| Amazon.com Services LLC | Economist II | Seattle, WA | 11/01/2023 | $141,700 |
| Amazon.com Services LLC | Economist III | Arlington, VA | 10/01/2023 | $137,114 |
| Amazon.com Services LLC | Economist I | Arlington, VA | 10/01/2023 | $83,096 |
| Amazon.com Services LLC | Economist II | Sunnyvale, CA | 09/02/2023 | $190,000 |
| American Institutes for Research | Economist | Rockville, MD | 09/02/2023 | $125,000 |
| The PNC Financial Services Group, Inc. | Economist II | Pittsburgh, PA | 09/01/2023 | $150,000 |
Show more
Economist salary FAQs
What state pays Economists the most?
Montana pays Economists the most in the United States, with an average salary of $133,286 per year, or $64.08 per hour.
How do I know if I'm being paid fairly as an Economist?
You know if you are being paid fairly as an Economist if your pay is close to the average pay for the state you live in. For example, if you live in Montana you should be paid close to $122,971 per year.
How much does an economist with a Ph.D. make?
An economist with a Ph.D. typically makes a minimum of $100,000 in a year. While there is a wide range of roles with different salary levels, most economists make at least $100,000 in a year.
Have more questions?
See all answers to common life, physical, and social science questions.Search for economist jobs
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Updated September 14, 2023
