Economists Salary
In New Jersey, economists earn $167,550 at the median, or about $80.55 an hour. The range runs from $84K at the entry level to $195K for experienced workers. Adjusted for local prices (RPP 99.34), that's roughly $168,663 in purchasing power. Rent on a 2-bedroom averages $2,067/month, or 20.9% of estimated take-home pay.
Statewide average. This is an aggregate across all of New Jersey. BLS does not publish metro-level data for this occupation in this state.
Where the paycheck goes
What $168K actually covers in New Jersey, month by month
About economists
Sponsored links, AffordMap may earn a commission at no cost to you. Learn more
What this looks like in New Jersey
New Jersey sits well above the national pay line for economists, local pay runs about 34% higher than the U.S. median of $125K. Housing is manageable: a 2-bedroom at the HUD median costs $2,067/month, 21.3% of take-home, well inside the 30% guideline. Cost of living (RPP 99.34) is near the national average, so spending patterns here track the typical American budget fairly closely. Combined with manageable housing costs, New Jersey offers a genuinely strong financial position for economists at the median.
Compensation breakdown
Annual earnings by percentile, New Jersey
Entry-level economists (10th percentile) start around $84K. Mid-career wages sit at $168K. Top earners bring in $195K or more, a $111K spread from bottom to top.
Compare to other states
Track economists salary changes
BLS updates this data annually. We'll email you when New Jersey numbers change.
Related careers in Science
Quick answers
The stuff people actually ask about this job
Can a economist afford a 2BR apartment alone in New Jersey?
Yes — at the median salary of $168K, rent takes 21.3% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $2,067/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for economists in New Jersey?
The 10th-percentile wage — what new economists typically earn — is $84K/year. Take-home on that works out to about $5,354/month. At HUD’s $2,067/month FMR, rent would take 39% 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 New Jersey?
Local pay is 34% above the national median — $168K here vs. $125K nationally.
How does New Jersey compare to the national average for economists?
New Jersey pays $168K median vs. the U.S. average of $125K — that’s +34%. After adjusting for local cost of living (RPP 99.34), the purchasing-power equivalent is $169K — still ahead of the national median.
How much do economists make in New Jersey?
The median is $167,550 a year, that works out to about $81 an hour. But the range is wide: entry-level workers start around $83,990, and experienced economists can clear $195,190. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $168K enough to live in New Jersey?
On that salary, you'd take home roughly $9,727/month after taxes. A 2-bedroom here rents for about $2,067/month, which eats 21.3% 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 New Jersey?
New Jersey has a Regional Price Parity of 99.34 (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 $168,663 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.