Economists Salary
In Indianapolis-Carmel-Greenwood, IN, economists earn $138,260 at the median, or about $66.47 an hour. The range runs from $67K at the entry level to $170K for experienced workers. Adjusted for local prices (RPP 95.7), that's roughly $144,472 in purchasing power. Rent on a 2-bedroom averages $1,473/month, or 17.2% of estimated take-home pay.
So what does $138K get you in Indianapolis-Carmel-Greenwood?
Groceries, utilities, transportation, and healthcare scaled from national averages by Indianapolis-Carmel-Greenwood’s Regional Price Parity (95.7). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About economists
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What this looks like in Indianapolis-Carmel-Greenwood
Indianapolis-Carmel-Greenwood sits well above the national pay line for economists, local pay runs about 11% higher than the U.S. median of $125K. Housing is manageable: a 2-bedroom at the HUD median costs $1,473/month, 17.5% of take-home, well inside the 30% guideline. Cost of living (RPP 95.7) is near the national average, so spending patterns here track the typical American budget fairly closely. Combined with manageable housing costs, Indianapolis-Carmel-Greenwood offers a genuinely strong financial position for economistss at the median.
Compared to nearby metros
Median pay for economists in metros near Indianapolis-Carmel-Greenwood, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Detroit-Warren-Dearborn | $106K | $106K |
| Ann Arbor | $129K | $128K |
| Cleveland | $105K | $112K |
| Cincinnati | $121K | $127K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Indianapolis-Carmel-Greenwood, IN
Entry-level economists (10th percentile) start around $67K. Mid-career wages sit at $138K. Top earners bring in $170K or more, a $103K spread from bottom to top.
Economists pay across states
Median income ranked highest to lowest, compared to the national figure
View Economists salary in all states
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| District of Columbia | $168K | +34% | 3,000 |
| New Jersey | $168K | +34% | 280 |
| Delaware | $159K | +28% | 70 |
| Maryland | $145K | +16% | 1,130 |
| Kansas | $139K | +11% | 80 |
| Virginia | $138K | +10% | 950 |
| New York | $137K | +10% | 910 |
| North Carolina | $136K | +9% | 290 |
| Idaho | $131K | +5% | 130 |
| Alabama | $130K | +4% | 40 |
| Georgia | $123K | -2% | 260 |
| Oregon | $122K | -2% | 320 |
| Texas | $121K | -3% | 560 |
| Colorado | $121K | -3% | 240 |
| Ohio | $120K | -4% | 140 |
| California | $119K | -4% | 860 |
| Tennessee | $118K | -6% | 80 |
| Missouri | $117K | -6% | 280 |
| Pennsylvania | $115K | -8% | 560 |
| Alaska | $111K | -11% | 80 |
| Washington | $109K | -12% | 450 |
| Massachusetts | $106K | -15% | 1,030 |
| Michigan | $106K | -15% | 320 |
| Minnesota | $105K | -16% | 500 |
| Florida | $102K | -18% | 500 |
| Connecticut | $101K | -19% | 210 |
| Iowa | $96K | -23% | 70 |
| Arkansas | $92K | -27% | 50 |
| Maine | $91K | -27% | 70 |
| Nevada | $91K | -27% | 70 |
| Oklahoma | $90K | -28% | 80 |
| Montana | $89K | -28% | 90 |
| New Hampshire | $86K | -31% | 50 |
| Wisconsin | $84K | -33% | 280 |
| Hawaii | $83K | -33% | 50 |
| Indiana | $81K | -35% | 80 |
| Arizona | $80K | -36% | 340 |
| Nebraska | $76K | -39% | 90 |
| Louisiana | $73K | -41% | 140 |
| Kentucky | $71K | -43% | 100 |
Showing 1–10 of 40 states with published data
BLS does not publish data for every state when sample sizes are too small
Track economists salary changes
BLS updates this data quarterly. We'll email you when Indianapolis-Carmel-Greenwood numbers change.
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Frequently asked questions
Can a economist afford a 2BR apartment alone in Indianapolis-Carmel-Greenwood?
Yes — at the median salary of $138K, rent takes 17.5% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,473/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for economists in Indianapolis-Carmel-Greenwood?
The 10th-percentile wage — what new economists typically earn — is $67K/year. Take-home on that works out to about $4,042/month. At HUD’s $1,473/month FMR, rent would take 36% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is economist a high-paying job in Indianapolis-Carmel-Greenwood?
Local pay is 11% above the national median — $138K here vs. $125K nationally.
How does Indianapolis-Carmel-Greenwood compare to the national average for economists?
Indianapolis-Carmel-Greenwood pays $138K median vs. the U.S. average of $125K — that’s +11%. After adjusting for local cost of living (RPP 95.7), the purchasing-power equivalent is $144K — still ahead of the national median.
How much do economists make in Indianapolis-Carmel-Greenwood, IN?
The median is $138,260 a year, that works out to about $66 an hour. But the range is wide: entry-level workers start around $67,360, and experienced economists can clear $170,280. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $138K enough to live in Indianapolis-Carmel-Greenwood?
On that salary, you'd take home roughly $8,420/month after taxes. A 2-bedroom here rents for about $1,473/month, which eats 17.5% 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 Indianapolis-Carmel-Greenwood?
Indianapolis-Carmel-Greenwood has a Regional Price Parity of 95.7 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median economists salary is worth about $144,472 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.