Economists Salary in Illinois
In Illinois, economists earn $112,790 at the median — $54.23 an hour. The range runs from $67K at the entry level to $225K for experienced workers.
AffordMap analysis of BLS Occupational Employment and Wage Statistics (latest release, May 2024)
So what does $113K get you in Illinois?
About economists
Compensation breakdown
Annual earnings by percentile, Illinois
Entry-level economists (10th percentile) start around $67K. Mid-career wages sit at $113K.Top earners bring in $225K or more - a $159K spread from bottom to top.
Economists pay across states
Median income ranked highest to lowest, compared to the national figure
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| District of Columbia | $163K | +41% | 3,010 |
| Virginia | $148K | +28% | 970 |
| New York | $142K | +23% | 870 |
| Maryland | $138K | +19% | 920 |
| Georgia | $127K | +10% | 340 |
| Ohio | $118K | +2% | 130 |
| Washington | $116K | +1% | 470 |
| Missouri | $116K | +0% | 210 |
| Kansas | $115K | -0% | 110 |
| Pennsylvania | $113K | -2% | 710 |
| Illinois | $113K | -2% | 590 |
| North Carolina | $112K | -3% | 250 |
| Oregon | $112K | -3% | 270 |
| Tennessee | $110K | -4% | N/A |
| Alaska | $109K | -6% | N/A |
Track economists salary changes
BLS updates this data quarterly. We'll email you when Illinois numbers change.
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Frequently asked questions
How much do economists make in Illinois?
The median is $112,790 a year - that works out to about $54.23 an hour. The range is wide: entry-level workers start around $66,930, and experienced economists can clear $225,440. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $113K enough to live in Illinois?
On that salary, you'd take home roughly $6,846/month after taxes. A 2-bedroom in this state rents for about $1,203/month (median of metro areas), which eats 17.6% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a economists salary go in Illinois?
Illinois has a Regional Price Parity of 100 (100 is the national average). That's right at the national average. After cost-of-living adjustment, the median economists salary is worth about $112,790 in national-average purchasing power.
Where do economists get paid the most?
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.