Average Economists Salary in Boston-Cambridge-Newton, MA-NH
Economists in the Boston-Cambridge-Newton, MA-NH metropolitan area command an impressive average annual salary of $151,950, significantly exceeding the national average of $145,650. This premium is largely driven by the region's robust academic institutions, thriving tech and biotech sectors, and a high concentration of research and development activities that demand sophisticated economic analysis.
Executive Summary
- Average Salary: $151,950 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $227,925.
- Outlook: The job market for economists in Boston-Cambridge-Newton appears robust, supported by a local workforce of 590 professionals. A Location Quotient of 2.13 indicates a substantial concentration of these roles compared to the national average, suggesting strong and consistent demand within the region.
Salary Overview
The average Economists in Boston-Cambridge-Newton, MA-NH earns+4.3%above the national average.
$73.1
$2,922
$12,663
Economists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the demand for skilled economists in a dynamic hub like Boston-Cambridge-Newton has led to consistent salary growth over the past four years. Economic shifts and the increasing reliance on data-driven decision-making likely contribute to upward salary trends for this profession.
Economists Salary Distribution in Boston-Cambridge-Newton, MA-NH
Salary progression for economists in Boston-Cambridge-Newton typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while senior economists with specialized expertise and a proven track record can command salaries well into the upper percentiles. These percentile gaps clearly signify substantial career progression and earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $66,760 | $32.1 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $113,963 | $54.8 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $111,320 | $53.5 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $189,938 | $91.3 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $227,925 | $109.6 |
Detailed Economists Market Analysis
Relocation Context
Nominal Salary
$151,950
Gross Pay
Real Wage (Purchasing Power)
$151,950
Adjusted for COL (100)
The nominal average salary of $151,950 in Boston-Cambridge-Newton is particularly attractive given the local Cost of Living Index is exactly at the national average of 100. This means that the higher earnings translate directly into purchasing power, making the region financially advantageous for economists compared to areas with a higher cost of living.
Job Market Context
590
Total Jobs
0.219
Per 1K Jobs
2.13
Location Quotient
Boston-Cambridge-Newton, MA-NH has 2.1x 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.
With a Location Quotient of 2.13, the Boston-Cambridge-Newton area demonstrates a market that is more than twice as concentrated with economists as the national average. This indicates a highly competitive yet abundant job market, with numerous opportunities available for skilled professionals in this field.
Nearby Job Markets
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Frequently Asked Questions
How much does a Economists make in Boston-Cambridge-Newton, MA-NH?
The median annual salary for a Economists in Boston-Cambridge-Newton, MA-NH is $151,950. This typically ranges from $66,760 for entry-level positions to $227,925 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Boston-Cambridge-Newton, MA-NH is 4.3% higher than the national median of $145,650.
Is Boston-Cambridge-Newton, MA-NH a lucrative place for Economists?
Yes, it is a highly lucrative place for Economists.Economists in this region earn an average of $151,950, which is above the national average, and the cost of living is on par with the national average, enhancing real earning potential.
Is Boston-Cambridge-Newton, MA-NH a good place to live for Economists?
The Cost of Living Index in Boston-Cambridge-Newton, MA-NH is 100. While higher than average, this often correlates with higher wages.
How does the local workforce size impact job prospects?
A local workforce of 590 economists suggests a significant pool of talent and established industry presence, indicating a stable and potentially growing job market for this profession in the region.
What does a Location Quotient of 2.13 mean for an Economist?
A Location Quotient of 2.13 signifies that economists are more than twice as concentrated in Boston-Cambridge-Newton compared to the national average, pointing to high demand and a specialized job market.
How does the Cost of Living affect the $151,950 salary?
With a Cost of Living Index of 100, the national average, the $151,950 salary in Boston-Cambridge-Newton offers excellent purchasing power, meaning your earnings go further than in many other high-paying metropolitan areas.
What types of industries employ economists in Boston-Cambridge-Newton?
Economists in this region are likely employed across diverse sectors including finance, technology, biotechnology, government, academia, and consulting, driven by the area's strong economic and research landscape.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 590 employees in the Boston-Cambridge-Newton, MA-NH area with a job density of 0.219 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 Boston-Cambridge-Newton, MA-NH