SalaryNode

Average Economists Salary in Richmond, VA

The average salary for a Economists in Richmond, VA is $143,270. This compensation is in line with national standards, reflecting a balanced and stable local job market. Notably, Richmond, VA is a key hub for this profession, with a job concentration 2.44x higher than average.

Executive Summary

  • Average Salary: $143,270 per year.
  • Growth Trend: Salaries have shifted 21.9% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $214,905.
  • Outlook: The current demand for Economistss is stable, with a local workforce of approximately 160 professionals. This role remains a specialized component of the broader Richmond, VA economy.
2024 Market Data

Salary Overview

$143,270

The average Economists in Richmond, VA earns-1.6%below the national average.

BreakdownBased on 40h/week
Hourly

$68.9

Weekly

$2,755

Monthly

$11,939

Economists Salary Distribution in Richmond, VA

The earning potential for Economistss in Richmond, VA varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 3.1x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $68,590, while highly experienced professionals can command wages upwards of $214,905.

Experience LevelMarket PercentileAnnual WageHourly Rate
Junior / AssociateEntry level. Focus on learning core skills & codebase.10% (Entry)$68,590$33
Engineer IProficient contributor. Handles tasks independently.25% (Junior)$107,453$51.7
Senior EngineerSystem design, complex problem solving, mentoring.50% (Median)$118,610$57
Lead / StaffTechnical strategy, architecture, cross-team impact.75% (Senior)$179,088$86.1
Principal / ArchitectIndustry expert. Driving technical vision & innovation.90% (Expert)$214,905$103.3

Detailed Economists Market Analysis

Relocation Context

Nominal Salary

$143,270

Gross Pay

Real Wage (Purchasing Power)

$143,270

Adjusted for COL (100)

In Richmond, VA, the Cost of Living Index is 100. This increases your effective purchasing power from $143,270 to $143,270.

Job Market Context

160

Total Jobs

0.251

Per 1K Jobs

2.44

Location Quotient

Major Hub

Richmond, VA has 2.4x 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.

160 people work as Economists in Richmond, VA.

Only 0.251 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 Richmond, VA?

The median annual salary for a Economists in Richmond, VA is $143,270. This typically ranges from $68,590 for entry-level positions to $214,905 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Richmond, VA is 1.6% lower than the national median of $145,650.

Is Richmond, VA a good place for Economistss?

Yes, Richmond, VA is highly recommended due to strong job demand. While salaries are competitive ($143,270), the area is particularly notable for its high job density for Economistss. See distinct detailed breakdown below.

Is Richmond, VA a good place to live for Economists?

The Cost of Living Index in Richmond, VA 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 160 employees in the Richmond, VA area with a job density of 0.251 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Economists • Data source: BLS OEWS 2024 •Jobs in Richmond, VA