Economists Salary

It’s a stretch — at the median salary of $97K, rent takes 31.3% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,865/month. The 30% guideline puts the comfortable ceiling at roughly $1,800/month in rent — so roommates or a 1-bedroom would ease the math significantly.

The 10th-percentile wage — what new economists typically earn — is $75K/year. Take-home on that works out to about $4,484/month. At HUD’s $1,865/month FMR, rent would take 42% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.

Local pay runs 22% below the national median — $97K here vs. $125K nationally.

Hartford-West Hartford-East Hartford pays $97K median vs. the U.S. average of $125K — that’s -22%. After adjusting for local cost of living (RPP 102.75), the purchasing-power equivalent is $94K — below the national median.

The median is $96,720 a year, that works out to about $47 an hour. But the range is wide: entry-level workers start around $74,740, and experienced economists can clear $131,020. These are BLS numbers, based on employer-reported data, not self-reported surveys.

On that salary, you'd take home roughly $5,963/month after taxes. A 2-bedroom here rents for about $1,865/month, which eats 31.3% of your paycheck. That's above the 30% rule of thumb, housing will be a stretch at the median salary, though you can manage with roommates or a smaller place.

Hartford-West Hartford-East Hartford has a Regional Price Parity of 102.75 (100 is the national average). Prices are above average here, so your dollar buys less than the same salary would in a cheaper metro. After cost-of-living adjustment, the median economists salary is worth about $94,131 in national-average purchasing power.

The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.