Economists Salary in U.S. (2024)
In U.S., economists earn $115,440 at the median — $55.5 an hour. The range runs from $62K at the entry level to $213K for experienced workers.
Updated
AffordMap analysis of BLS Occupational Employment and Wage Statistics, May 2024
So what does $115K get you in U.S.?
About economists
Compensation breakdown
Annual earnings by percentile, U.S.
Entry-level economists (10th percentile) start around $62K. Mid-career wages sit at $115K.Top earners bring in $213K or more - a $150K 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 U.S. numbers change.
Related careers in Science
Frequently asked questions
How much do economists make in U.S.?
The median is $115,440 a year - that works out to about $55.5 an hour. The range is wide: entry-level workers start around $62,340, and experienced economists can clear $212,710. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $115K enough to live in U.S.?
On that salary, you'd take home roughly $7,467/month after taxes. A 2-bedroom here rents for about $1,412/month, which eats 18.9% 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 U.S.?
U.S. 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 $115,440 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.