How much does a economics professor make?
Answer: A typical economics professor in the United States makes $123,920 a year (median, May 2025, US Bureau of Labor Statistics).
Line up 100 people; this is the one in the middle (median). about 12,000 people work in this job. Well above the US-wide typical pay ($50,980).
If 100 people had this job
Lowest at bottom-left, highest at top-rightHover over a person to see their yearly pay
Economics professor pay in the United States (May 2025, median and spread)
| Lower earner (10th from bottom) | Typical person (median) | Higher earner (10th from top) | People in this job |
|---|---|---|---|
| $64,060 | $123,920 | $224,200 | about 12,000 |
| State | Typical person (median) | People in this job |
|---|---|---|
| Massachusetts | $164,410 | about 750 |
| California | $137,360 | about 770 |
| New York | $127,500 | about 1,000 |
| Texas | $118,530 | about 770 |
| Pennsylvania | $117,970 | about 610 |
Why does pay differ?
In the United States, pay can differ with experience, academic rank, responsibilities, and the college’s type and location. Full-time and part-time jobs can pay differently, too, because people may work different hours.
What if you lived in a different state?
Pay varies a lot by state in the USTop 5 and bottom 3 states, typical (median) yearly pay.
What does a economics professor do?
Teach courses in economics. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.
What's a typical day like?
They prepare a lesson and teach a class about prices or markets, then grade assignments and meet students during office hours. Some days also include analyzing data and writing research papers.
How to get this job
In the United States, study economics in college and usually earn a Ph.D. in economics; four-year colleges typically expect a doctorate. Some community colleges or part-time posts may accept a master's degree or a doctoral student.
Graduate degree or long training (preparation level 5 of 5)
Good for people who like helping and teaching and figuring things out.
Did you know?
Some U.S. economics professors also consult for government agencies or businesses, using their expertise beyond the classroom.
Similar jobs
Jobs using similar skills (O*NET)Earn more in the same field
Educational Instruction and Library jobs that pay a bit moreSources and data
Source: US Bureau of Labor Statistics, OEWS May 2025 (bls.gov); descriptions and related jobs from O*NET 31.0. Figures as of May 2025, full-time yearly pay (hourly × 2,080 hours). bls.gov/oes · O*NET OnLine
Pages used for the text
- www.bls.gov/ooh/education-training-and-library/postsecondary-teachers.htm
- www.onetonline.org/link/summary/25-1063.00
- www.bls.gov/oes/2022/may/oes251063.htm
- www.nber.org/system/files/working_papers/w33005/w33005.pdf
Data: US BLS OEWS, May 2025 · 1 USD = 150 JPY