How much does a economist make?
Answer: A typical economist in the United States makes $124,720 a year (median, May 2025, US Bureau of Labor Statistics).
Line up 100 people; this is the one in the middle (median). about 18,000 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
Economist 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 |
|---|---|---|---|
| $67,360 | $124,720 | $238,060 | about 18,000 |
| State | Typical person (median) | People in this job |
|---|---|---|
| District of Columbia | $167,590 | about 3,000 |
| Maryland | $144,680 | about 1,000 |
| Virginia | $137,590 | about 950 |
| New York | $136,660 | about 910 |
| Texas | $121,420 | about 560 |
Why does pay differ?
In the U.S., economists with more experience or advanced degrees may earn more. Pay also differs by employer and location, and longer workweeks can affect yearly earnings.
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 economist do?
Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods. Excludes “Market Research Analysts and Marketing Specialists” (13-1161).
What's a typical day like?
An economist may check new jobs, price, or sales data, then use statistics and computer models to spot patterns. They discuss what the numbers mean and turn their findings into charts, reports, or advice.
How to get this job
In the U.S., earn a college degree, often in economics or math, then usually a master’s; some government entry jobs accept a bachelor’s, while some roles need a Ph.D. Graduate programs may expect prior economics or math classes.
Graduate degree or long training (preparation level 5 of 5)
Good for people who like figuring things out and keeping things organized.
Did you know?
Some U.S. economists study unpaid chores and caregiving; this hidden work can affect how experts measure the nation's wealth.
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Life, Physical, and Social Science 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/life-physical-and-social-science/economists.htm
- www.bls.gov/careeroutlook/2015/article/wage-differences.htm
- www.bls.gov/blog/2017/why-do-we-ask-about-how-people-use-their-time.htm
Data: US BLS OEWS, May 2025 · 1 USD = 150 JPY