The average salary for an economist in the United States is around $124,720 per year.
Avg Salary
Economists earn an average yearly salary of $124,720.
Wages typically start from $67,360 and go up to $238,060.
103% above national average Updated in 2025
Economist earnings by seniority
Top-level economist earnings begin at:
$114.45 per hour
$238,060 per year
Senior-level economist earnings begin at:
$84.00 per hour
$174,720 per year
Mid-level economist earnings begin at:
$59.96 per hour
$124,720 per year
Junior-level economist earnings begin at:
$42.95 per hour
$89,330 per year
Starting level economist earnings begin at:
$32.38 per hour
$67,360 per year
Approximate values based on highest and lowest earning segments.
Economist salary by state
| State Name | Average Salary |
|---|---|
| Iowa | $96,310 |
| Illinois | $94,611 |
| Arkansas | $91,560 |
| Maine | $91,480 |
| Nevada | $91,340 |
| Oklahoma | $89,980 |
| Montana | $89,340 |
| New Hampshire | $86,130 |
| New Mexico | $84,730 |
| Wisconsin | $84,000 |
| Hawaii | $83,050 |
| Indiana | $80,750 |
| Arizona | $79,610 |
| Nebraska | $75,880 |
| Louisiana | $73,050 |
| Wyoming | $72,730 |
| Vermont | $72,500 |
| Kentucky | $71,400 |
| Utah | $67,910 |
| Mississippi | $65,410 |
| West Virginia | $65,350 |
| South Carolina | $60,480 |
| Puerto Rico | $35,640 |
| District of Columbia | $167,590 |
| New Jersey | $167,550 |
| Delaware | $159,120 |
| Maryland | $144,680 |
| Kansas | $138,790 |
| Virginia | $137,590 |
| New York | $136,660 |
| North Carolina | $136,150 |
| Idaho | $131,270 |
| Alabama | $129,960 |
| Georgia | $122,570 |
| Oregon | $122,120 |
| Texas | $121,420 |
| Colorado | $121,410 |
| Ohio | $120,000 |
| California | $119,410 |
| Tennessee | $117,650 |
| Missouri | $117,010 |
| Pennsylvania | $115,000 |
| Alaska | $111,040 |
| Washington | $109,300 |
| Massachusetts | $106,380 |
| Michigan | $106,350 |
| Minnesota | $105,120 |
| Florida | $102,430 |
| Connecticut | $101,400 |
How much does an Economist earn?
An economist's salary can become more substantial depending on how many years of experience they have under their belt. Economists in their first five years can expect to earn approximately $63000/yr, but individuals who have been in the workforce for five to 10 years can earn a noticeably bigger sum of $90,000/yr. Six-figure salaries appear after ten to twenty years on the job - reaping approximately $104,000/yr. Individuals who have worked for more than twenty years report bringing in $125,000/yr on average.
Students who earn master's degrees in economics can work as economists, senior data analysts, financial analysts, and research analysts. According to the U.S. Bureau of Labor Statistics (BLS), an economist's mean salary was $109,230 in May 2015. In the same year, economists working for the federal government earned $114,600 on average. Above average economist's salaries are found in San Francisco, Seattle, Washington, Los Angeles, and Atlanta.
How do economist salaries compare to similar careers?
Economists earn 20% more than similar careers in the United States. On average, they make more than intelligence analysts.
| Career | Median Salary |
|---|---|
| Economist salary | $125K |
| Sociologist salary | $106K |
| Intelligence analyst salary | $94K |
Source: CareerExplorer (Aggregated)