Economists Salary
In Maryland, economists earn $144,680 at the median, or about $69.56 an hour. The range runs from $94K at the entry level to $195K for experienced workers. Adjusted for local prices (RPP 98.76), that's roughly $146,497 in purchasing power. Rent on a 2-bedroom averages $1,795/month, or 21% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Maryland. Jump to a metro for precise data:
So what does $145K get you in Maryland?
About economists
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What this looks like in Maryland
Maryland sits well above the national pay line for economists, local pay runs about 16% higher than the U.S. median of $125K. Housing is manageable: a 2-bedroom at the HUD median costs $1,795/month, 21% of take-home, well inside the 30% guideline. Cost of living (RPP 98.76) is near the national average, so spending patterns here track the typical American budget fairly closely. Combined with manageable housing costs, Maryland offers a genuinely strong financial position for economistss at the median.
Compensation breakdown
Annual earnings by percentile, Maryland
Entry-level economists (10th percentile) start around $94K. Mid-career wages sit at $145K. Top earners bring in $195K or more, a $101K spread from bottom to top.
Economists salary by metro in Maryland
1 metro area with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Baltimore-Columbia-Towson | $153K | +6% | 110 |
Compare to other states
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BLS updates this data quarterly. We'll email you when Maryland numbers change.
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Frequently asked questions
Can a economist afford a 2BR apartment alone in Maryland?
Yes — at the median salary of $145K, rent takes 21% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,795/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for economists in Maryland?
The 10th-percentile wage — what new economists typically earn — is $94K/year. Take-home on that works out to about $5,623/month. At HUD’s $1,795/month FMR, rent would take 32% 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 Maryland?
Local pay is 16% above the national median — $145K here vs. $125K nationally.
How does Maryland compare to the national average for economists?
Maryland pays $145K median vs. the U.S. average of $125K — that’s +16%. After adjusting for local cost of living (RPP 98.76), the purchasing-power equivalent is $146K — still ahead of the national median.
How much do economists make in Maryland?
The median is $144,680 a year, that works out to about $70 an hour. But the range is wide: entry-level workers start around $93,710, and experienced economists can clear $195,190. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $145K enough to live in Maryland?
On that salary, you'd take home roughly $8,566/month after taxes. A 2-bedroom here rents for about $1,795/month, which eats 21% 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 Maryland?
Maryland has a Regional Price Parity of 98.76 (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 $146,497 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.