Average Economists Salary in Albany-Schenectady-Troy, NY
The average salary for Economistss in Albany-Schenectady-Troy, NY is $101,250. While this is lower than the national average, the cost of living in Albany-Schenectady-Troy, NY may offset the difference, preserving real purchasing power. Notably, Albany-Schenectady-Troy, NY is a key hub for this profession, with a job concentration 1.58x higher than average.
Executive Summary
- Average Salary: $101,250 per year.
- Growth Trend: Salaries have shifted 18.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $157,810.
- Outlook: The current demand for Economistss is stable, with a local workforce of approximately 70 professionals. This role remains a specialized component of the broader Albany-Schenectady-Troy, NY economy.
Salary Overview
The average Economists in Albany-Schenectady-Troy, NY earns-30.5%below the national average.
$48.7
$1,947
$8,438
Economists Salary Trends (2020-2024)
Over the past 4 years, Economists salaries in Albany-Schenectady-Troy, NY have shown healthy growth of 18.7%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Economists Salary Distribution in Albany-Schenectady-Troy, NY
The earning potential for Economistss in Albany-Schenectady-Troy, NY varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 2.9x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $54,920, while highly experienced professionals can command wages upwards of $157,810.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $54,920 | $26.4 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $75,938 | $36.5 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $94,520 | $45.4 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $126,563 | $60.8 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $157,810 | $75.9 |
Detailed Economists Market Analysis
Relocation Context
Nominal Salary
$101,250
Gross Pay
Real Wage (Purchasing Power)
$101,250
Adjusted for COL (100)
In Albany-Schenectady-Troy, NY, the Cost of Living Index is 100. This increases your effective purchasing power from $101,250 to $101,250.
Job Market Context
70
Total Jobs
0.163
Per 1K Jobs
1.58
Location Quotient
Albany-Schenectady-Troy, NY has 1.6x the national concentration of Economists jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
70 people work as Economists in Albany-Schenectady-Troy, NY.
Only 0.163 out of every 1,000 local jobs are Economists roles — this is a niche profession in the area.
Nearby Job Markets
Hiring Economistss?
Frequently Asked Questions
How much does a Economists make in Albany-Schenectady-Troy, NY?
The median annual salary for a Economists in Albany-Schenectady-Troy, NY is $101,250. This typically ranges from $54,920 for entry-level positions to $157,810 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Albany-Schenectady-Troy, NY is 30.5% lower than the national median of $145,650.
Is Albany-Schenectady-Troy, NY a good place for Economistss?
Yes, Albany-Schenectady-Troy, NY is highly recommended due to strong job demand. While salaries are competitive ($101,250), the area is particularly notable for its high job density for Economistss. See distinct detailed breakdown below.
Is Albany-Schenectady-Troy, NY a good place to live for Economists?
The Cost of Living Index in Albany-Schenectady-Troy, NY is 100. While higher than average, this often correlates with higher wages.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 70 employees in the Albany-Schenectady-Troy, NY area with a job density of 0.163 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Economists • Data source: BLS OEWS 2024 •Jobs in Albany-Schenectady-Troy, NY