How much does an economist make?
a year · about $60 an hour
A typical economist in the United States makes $124,720 a year, about $60 an hour, about 2.4× a typical US worker (median, May 2025, US Bureau of Labor Statistics).
What do they do?
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.
Did you know? Some U.S. economists study unpaid chores and caregiving; this hidden work can affect how experts measure the nation's wealth.
Is that a lot?
Compared with jobs you knowIf 100 people had this job
Most earn between $67,360 and $238,060How do you become one?
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.
School needed: Graduate degree or long training
Good for people who like figuring things out and keeping things organized
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.
Where does it pay most?
Highest in District of Columbia ($167,590), lowest in Florida ($102,430).
See every state
Top 5 and bottom 3 states, typical (median) yearly pay.
Jobs like this
Data table and sources
| 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 |
Official definition: 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).
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