Average Economists Salary in U.S.
Economists in the U.S. earn an average annual salary of $145,650. This figure precisely matches the national average, indicating that compensation in this state is aligned with broader economic trends. Factors such as the concentration of economic institutions, demand from specific industries, and the overall economic health of the region likely contribute to this equilibrium.
Executive Summary
- Average Salary: $145,650 per year.
- Growth Trend: Salaries have shifted 28.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $218,475.
- Outlook: With a local workforce of 7,090 Economists, the U.S. presents a substantial, though not exceptionally concentrated, market for these professionals. The absence of a specific Location Quotient (LQ) value, defaulting to the national average benchmark of 1.0, suggests that the density of Economists in this state is neither significantly higher nor lower than the national proportion. This indicates a stable, albeit not rapidly expanding, demand for economic expertise.
Salary Overview
The average Economists in U.S. earns-0.0%below the national average.
$70
$2,801
$12,138
Economists Salary Trends (2020-2024)
While specific historical data for the U.S. is not provided, it is reasonable to assume that salaries for Economists nationwide have experienced steady growth over the past four years, driven by increasing demand for data analysis and economic forecasting across various sectors. This general upward trend likely extends to the U.S., reflecting the evolving importance of economic insights in business and policy.
Economists Salary Distribution in U.S.
The career trajectory for Economists typically involves significant salary progression with experience. Entry-level positions might start at a lower percentile, perhaps around $100,000-$110,000, while seasoned professionals with specialized skills and extensive experience can command salaries in the top percentiles, potentially exceeding $180,000-$200,000. The widening gap between entry-level and senior salaries clearly signifies robust career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $68,120 | $32.8 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $109,238 | $52.5 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $121,820 | $58.6 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $182,063 | $87.5 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $218,475 | $105 |
Detailed Economists Market Analysis
Relocation Context
Nominal Salary
$145,650
Gross Pay
Real Wage (Purchasing Power)
$145,650
Adjusted for COL (100)
The average annual salary of $145,650 in the U.S. is perfectly balanced by the local Cost of Living Index of 100, which represents the national average. This means that the purchasing power of an Economist's salary in this state is equivalent to the national average. Individuals relocating here can expect their earnings to cover standard living expenses without a significant premium or discount compared to the rest of the country.
Job Market Context
7,090
Total Jobs
N/A
Per 1K Jobs
N/A
Location Quotient
The provided data indicates a Location Quotient of N/A, which we interpret as being at the national average (1.0). This suggests that the proportion of Economists within the local workforce is comparable to the national average. Consequently, the job market is neither oversaturated nor exceptionally scarce, presenting a balanced environment for both job seekers and employers.
Nearby Job Markets
Hiring Economistss?
Frequently Asked Questions
How much does a Economists make in U.S.?
The median annual salary for a Economists in U.S. is $145,650. This typically ranges from $68,120 for entry-level positions to $218,475 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in U.S. is 0.0% lower than the national median of $145,650.
Is U.S. a lucrative place for Economists?
Yes, the U.S. offers a lucrative environment for Economists.The average salary of $145,650 aligns perfectly with the national average, and the cost of living is also at the national benchmark, indicating strong earning potential and stable purchasing power.
Is U.S. a good place to live for Economists?
The Cost of Living Index in U.S. is 100. While higher than average, this often correlates with higher wages.
What is the average salary for an entry-level Economist in U.S.?
While specific data isn't provided, entry-level Economist salaries typically fall in the lower percentiles, likely ranging from $100,000 to $110,000 annually.
How does experience impact an Economist's salary in U.S.?
Experience significantly increases earning potential. Senior Economists with specialized expertise can earn considerably more than the average, potentially reaching the top salary percentiles.
Is the job market for Economists competitive in U.S.?
With a Location Quotient at the national average, the market is balanced, suggesting moderate competition and stable demand for skilled Economists.
How does the cost of living in U.S. affect an Economist's salary?
The Cost of Living Index is 100, meaning it's average. Therefore, the $145,650 salary provides average purchasing power, neither inflated nor diminished by local expenses.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 7,090 employees in the U.S. area with a job density of 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 U.S.