Economist Salary
Economists earn a median $124,720 a year nationally. Life, Physical, and Social Science Occupations
What economists 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.
- Typical education
- Master's degree
- Work experience
- None required
- On-the-job training
- None
- Job outlook, 2025–35
- +4.7% (about average)
- Openings per year
- 1,100
Employment of economists is projected to grow 4.7% from 2025 to 2035, about the same as the 3.5% average for all occupations. About 1,100 openings are expected each year, on average, including jobs left by workers who retire or switch careers.
Source: BLS Standard Occupational Classification and Employment Projections, 2025–35.
Economist take-home pay calculator
Starts at the national median. Pick your state to see your real paycheck.
- Federal income tax$18,667
- Social Security (6.2%)$7,733
- Medicare (1.45%)$1,808
- Texas income tax$0
- Take-home pay$96,512
Marginal rate: 24% federal + 0.00% state
Pay by experience
| Percentile | Salary | Hourly | Take-home (no state tax) |
|---|---|---|---|
| 10th percentile (entry level) | $67,360 | $32.38 | $56,218 |
| 25th percentile | $89,330 | $42.95 | $71,674 |
| Median (50th) | $124,720 | $59.96 | $96,512 |
| 75th percentile | $174,720 | $84.00 | $130,687 |
| 90th percentile (top earners) | $238,060 | $114.45 | $175,343 |
Best cities for economists (after tax & cost of living)
| # | Metro area | Median | Take-home | Real value* | Jobs |
|---|---|---|---|---|---|
| 1 | Washington, DC | $156,750 | $108,049 | $99,233 | 4,570 |
*Take-home pay in U.S.-average dollars (BEA Regional Price Parities).
Highest-paying cities
- Washington, DC — $156,750
Economist salary by state
| State | Median | 1-yr change | Take-home | Range | Jobs |
|---|---|---|---|---|---|
| District of Columbia | $167,590 | +3.1% | $114,537 | $98,350 – $239,200+ | 3,000 |
| New Jersey | $167,550 | +63.7% | $117,303 | $83,990 – $195,190 | 280 |
| Delaware | $159,120 | — | $110,864 | $74,690 – $214,000 | 70 |
| Maryland | $144,680 | +5.1% | $103,518 | $93,710 – $195,190 | 1,130 |
| Kansas | $138,790 | +20.6% | $99,184 | $67,610 – $238,990 | 80 |
| Virginia | $137,590 | −7.0% | $98,211 | $74,600 – $232,410 | 950 |
| New York | $136,660 | −4.0% | $97,650 | $82,130 – $239,200+ | 910 |
| North Carolina | $136,150 | +21.8% | $99,401 | $35,460 – $224,270 | 290 |
| Idaho | $131,270 | +66.6% | $95,140 | $55,180 – $173,560 | 130 |
| Alabama | $129,960 | +25.7% | $93,861 | $74,520 – $175,170 | 40 |
| Georgia | $122,570 | −3.7% | $89,304 | $78,190 – $187,330 | 260 |
| Oregon | $122,120 | +9.4% | $84,879 | $81,620 – $147,600 | 320 |
| Texas | $121,420 | +14.3% | $94,249 | $66,760 – $219,140 | 560 |
| Colorado | $121,410 | +8.8% | $89,608 | $73,450 – $193,480 | 240 |
| Ohio | $120,000 | +1.9% | $90,732 | $69,770 – $216,920 | 140 |
| California | $119,410 | +18.8% | $84,407 | $74,030 – $207,380 | 860 |
| Tennessee | $117,650 | +6.6% | $91,597 | $83,610 – $162,670 | 80 |
| Missouri | $117,010 | +1.3% | $86,584 | $73,260 – $229,510 | 280 |
| Pennsylvania | $115,000 | +1.5% | $86,202 | $64,500 – $164,650 | 560 |
| Alaska | $111,040 | +1.9% | $86,947 | $80,110 – $141,270 | 80 |
| Washington | $109,300 | −6.1% | $85,723 | $80,320 – $167,960 | 450 |
| Massachusetts | $106,380 | +3.1% | $78,569 | $74,080 – $222,610 | 1,030 |
| Michigan | $106,350 | +12.1% | $79,378 | $72,860 – $178,170 | 320 |
| Minnesota | $105,120 | −2.2% | $77,157 | $58,380 – $197,870 | 500 |
| Florida | $102,430 | +14.8% | $80,890 | $65,850 – $174,900 | 500 |
| Connecticut | $101,400 | −1.7% | $76,163 | $74,740 – $166,060 | 210 |
| Iowa | $96,310 | +3.8% | $73,576 | $59,980 – $144,750 | 70 |
| Arkansas | $91,560 | — | $69,884 | $55,130 – $136,990 | 50 |
| Maine | $91,480 | +13.4% | $68,141 | $69,140 – $132,950 | 70 |
| Nevada | $91,340 | +8.0% | $73,088 | $70,960 – $128,420 | 70 |
| Oklahoma | $89,980 | +9.3% | $68,627 | $67,490 – $171,650 | 80 |
| Montana | $89,340 | −6.9% | $67,994 | $69,850 – $116,210 | 90 |
| New Hampshire | $86,130 | — | $69,422 | $60,080 – $157,110 | 50 |
| Wisconsin | $84,000 | +9.2% | $64,853 | $53,340 – $132,270 | 280 |
| Hawaii | $83,050 | +1.6% | $62,474 | $66,370 – $120,270 | 50 |
| Indiana | $80,750 | −15.7% | $63,285 | $47,350 – $163,380 | 80 |
| Arizona | $79,610 | −17.4% | $63,054 | $75,000 – $138,990 | 340 |
| Nebraska | $75,880 | +13.8% | $59,639 | $45,000 – $135,300 | 90 |
| Louisiana | $73,050 | −17.9% | $58,415 | $60,680 – $136,970 | 140 |
| Kentucky | $71,400 | +9.1% | $56,679 | $59,810 – $124,380 | 100 |
Related jobs
| Job | Median salary | Education | Growth 2025–35 |
|---|---|---|---|
| Psychologists, All Other | $110,840 | Master's degree | +2.3% |
| Political Scientist | $142,080 | Master's degree | -2.0% |
| Sociologist | $106,030 | Master's degree | +3.8% |
| Geographer | $102,040 | Bachelor's degree | -2.1% |
| Social Scientists and Related Workers, All Other | $101,110 | Bachelor's degree | -0.2% |
| Clinical and Counseling Psychologist | $100,580 | Doctoral or professional degree | +11.7% |
| School Psychologist | $95,990 | Master's degree | +0.8% |
| Urban and Regional Planner | $89,320 | Master's degree | +3.9% |
| Historian | $76,750 | Master's degree | +3.0% |
| Anthropologist and Archeologist | $70,770 | Master's degree | +6.0% |
Frequently asked questions
How much does a economist make?
The national median salary for economists is $124,720 a year ($59.96 an hour). The lowest-paid 10% earn under $67,360 and the top 10% earn over $238,060. Source: BLS, May 2025.
Which state pays economists the most?
District of Columbia has the highest median pay at $167,590. After taxes and local prices, Washington, DC offers the best real take-home pay of any metro area.
How many economists are there in the U.S.?
About 17,790 people work as economists nationwide.