Economists Salary
In New York-Newark-Jersey City, NY-NJ, economists earn $176,090 at the median, or about $84.66 an hour. The range runs from $87K at the entry level to $298K for experienced workers. Prices run high here (RPP 112.56), so that salary is closer to $156,441 in real purchasing power. Rent on a 2-bedroom averages $2,910/month, or 28% of estimated take-home pay.
So what does $176K get you in New York-Newark-Jersey City?
Groceries, utilities, transportation, and healthcare scaled from national averages by New York-Newark-Jersey City’s Regional Price Parity (112.56). 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 New York-Newark-Jersey City
New York-Newark-Jersey City sits well above the national pay line for economists, local pay runs about 41% higher than the U.S. median of $125K. Rent runs $2,910/month for a 2-bedroom (HUD FMR), taking 28.7% of the median take-home. That's within the 30% rule, though not by much. Cost-of-living overall is 13% above the national average (BEA RPP 112.56), so groceries and services cost more too. Use the affordability calculator above to model your specific situation.
Compared to nearby metros
Median pay for economists in metros near New York-Newark-Jersey City, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Albany-Schenectady-Troy | $99K | $100K |
| Boston-Cambridge-Newton | $108K | $100K |
| Philadelphia-Camden-Wilmington | $140K | $136K |
| Harrisburg-Carlisle | $80K | $81K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, New York-Newark-Jersey City, NY-NJ
Entry-level economists (10th percentile) start around $87K. Mid-career wages sit at $176K. Top earners bring in $298K or more, a $211K 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 New York-Newark-Jersey City numbers change.
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Frequently asked questions
Can a economist afford a 2BR apartment alone in New York-Newark-Jersey City?
Yes — at the median salary of $176K, rent takes 28.7% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $2,910/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for economists in New York-Newark-Jersey City?
The 10th-percentile wage — what new economists typically earn — is $87K/year. Take-home on that works out to about $5,216/month. At HUD’s $2,910/month FMR, rent would take 56% 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-Newark-Jersey City?
Local pay is 41% above the national median — $176K here vs. $125K nationally. Keep in mind cost of living here is 13% above the national average, which offsets some of that premium.
How does New York-Newark-Jersey City compare to the national average for economists?
New York-Newark-Jersey City pays $176K median vs. the U.S. average of $125K — that’s +41%. After adjusting for local cost of living (RPP 112.56), the purchasing-power equivalent is $156K — still ahead of the national median.
How much do economists make in New York-Newark-Jersey City, NY-NJ?
The median is $176,090 a year, that works out to about $85 an hour. But the range is wide: entry-level workers start around $86,930, and experienced economists can clear $297,870. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $176K enough to live in New York-Newark-Jersey City?
On that salary, you'd take home roughly $10,133/month after taxes. A 2-bedroom here rents for about $2,910/month, which eats 28.7% 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-Newark-Jersey City?
New York-Newark-Jersey City has a Regional Price Parity of 112.56 (100 is the national average). Prices are above average here, so your dollar buys less than the same salary would in a cheaper metro. After cost-of-living adjustment, the median economists salary is worth about $156,441 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.