Average Economists Salary in District of Columbia
Economists in the District of Columbia command an impressive average annual salary of $163,820, substantially exceeding the national average of $145,650. This elevated compensation is largely driven by the high concentration of government agencies, policy institutions, and think tanks in the nation's capital, which create a robust demand for economic expertise.
Executive Summary
- Average Salary: $163,820 per year.
- Growth Trend: Salaries have shifted 13.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $245,730.
- Outlook: The District of Columbia presents a robust job market for economists, evidenced by a substantial local workforce of 3,010 professionals. With a Location Quotient of 41.26, the concentration of economists is over 41 times the national average, indicating exceptionally high demand and a specialized market within the region.
Salary Overview
The average Economists in District of Columbia earns+12.5%above the national average.
$78.8
$3,150
$13,652
Economists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the demand for economists in the District of Columbia has seen consistent growth over the past four years, mirroring national trends in economic analysis and policy influence. This sustained demand likely translates to a steady increase in average salaries, reflecting the ongoing importance of economic insights in policy-making and business strategy.
Economists Salary Distribution in District of Columbia
Salary progression for economists in the District of Columbia typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with specialized expertise and a proven track record can command salaries in the upper percentiles. The substantial gap between entry-level and senior roles signifies clear career advancement opportunities and the value placed on accumulated knowledge and strategic insight.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $84,390 | $40.6 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $122,865 | $59.1 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $162,610 | $78.2 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $204,775 | $98.4 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $245,730 | $118.1 |
Detailed Economists Market Analysis
Relocation Context
Nominal Salary
$163,820
Gross Pay
Real Wage (Purchasing Power)
$110,168
Adjusted for COL (148.7)
While the nominal salary of $163,820 is highly attractive, it's crucial to consider the District of Columbia's Cost of Living Index of 148.7. This means that everyday expenses are nearly 49% higher than the national average. Therefore, while the gross income is substantial, the actual purchasing power of an economist's salary in DC requires careful budgeting and financial planning.
Job Market Context
3,010
Total Jobs
4.248
Per 1K Jobs
41.26
Location Quotient
District of Columbia has 41.3x 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.
The Location Quotient of 41.26 for economists in the District of Columbia signifies an exceptionally concentrated job market. This high concentration indicates that the region is a primary hub for economic professionals, suggesting a competitive yet opportunity-rich environment where specialized skills are highly valued and sought after by a multitude of institutions.
Nearby Job Markets
Nearby Cities for Economists
| City | Salary | Dist. |
|---|---|---|
| Baltimore-Columbia-Towson, MD Economists Salary | $124,720↓ 24% | 35 mi |
Comparing salaries near District of Columbia
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Frequently Asked Questions
How much does a Economists make in District of Columbia?
The median annual salary for a Economists in District of Columbia is $163,820. This typically ranges from $84,390 for entry-level positions to $245,730 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in District of Columbia is 12.5% higher than the national median of $145,650.
Is District of Columbia a lucrative place for Economists?
Yes, the District of Columbia is a highly lucrative location for economists.With an average salary significantly above the national average and a very high concentration of jobs, DC offers substantial earning potential for economists.
Is District of Columbia a good place to live for Economists?
The Cost of Living Index in District of Columbia is 148.7. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near District of Columbia?
Some top paying nearby cities include Baltimore-Columbia-Towson, MD ($124,720) and others.
How does the number of jobs per 1,000 workers compare nationally?
The District of Columbia has 4.248 jobs per 1,000 workers for economists, which is considerably higher than the national average, reflecting a strong local job market.
What types of organizations employ economists in DC?
Economists in DC are primarily employed by federal government agencies, international financial institutions, think tanks, lobbying firms, and private sector consulting companies focused on policy and regulation.
Is the high cost of living in DC offset by the salary?
While the salary is high, the cost of living is also significantly above the national average. This means that while earning potential is great, disposable income may be less than in lower cost-of-living areas with similar salaries.
What is the significance of the Location Quotient for economists in DC?
A Location Quotient of 41.26 means that economists are over 41 times more concentrated in DC than in the average US location, indicating a specialized and robust market for this profession.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,010 employees in the District of Columbia area with a job density of 4.248 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 District of Columbia