Economists Salary
In New York, economists earn $136,660 at the median, or about $65.7 an hour. The range runs from $82K at the entry level to $293K for experienced workers. Adjusted for local prices (RPP 98.21), that's roughly $139,151 in purchasing power. Rent on a 2-bedroom averages $1,917/month, or 23.8% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across New York. Jump to a metro for precise data:
So what does $137K get you in New York?
About economists
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What this looks like in New York
Economists pay in New York tracks closely to the national median, $137K locally vs. $125K nationwide, a 10% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,917/month, 23.7% of take-home, well inside the 30% guideline. Cost of living (RPP 98.21) is near the national average, so spending patterns here track the typical American budget fairly closely. Use the affordability calculator above to model your specific situation.
Compensation breakdown
Annual earnings by percentile, New York
Entry-level economists (10th percentile) start around $82K. Mid-career wages sit at $137K. Top earners bring in $293K or more, a $211K spread from bottom to top.
Economists salary by metro in New York
2 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| New York-Newark-Jersey City | $176K | +29% | 850 |
| Albany-Schenectady-Troy | $99K | -27% | 90 |
Compare to other states
Track economists salary changes
BLS updates this data quarterly. We'll email you when New York numbers change.
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Frequently asked questions
Can a economist afford a 2BR apartment alone in New York?
Yes — at the median salary of $137K, rent takes 23.7% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,917/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for economists in New York?
The 10th-percentile wage — what new economists typically earn — is $82K/year. Take-home on that works out to about $4,928/month. At HUD’s $1,917/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 York?
Pay here is roughly in line with the national average — $137K locally vs. $125K nationally, a 10% difference.
How does New York compare to the national average for economists?
New York pays $137K median vs. the U.S. average of $125K — that’s +10%. After adjusting for local cost of living (RPP 98.21), the purchasing-power equivalent is $139K — still ahead of the national median.
How much do economists make in New York?
The median is $136,660 a year, that works out to about $66 an hour. But the range is wide: entry-level workers start around $82,130, and experienced economists can clear $292,850. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $137K enough to live in New York?
On that salary, you'd take home roughly $8,084/month after taxes. A 2-bedroom here rents for about $1,917/month, which eats 23.7% 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 York?
New York has a Regional Price Parity of 98.21 (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 $139,151 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.