Average Economists Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
Economists in the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area command an impressive average annual salary of $160,290. This figure significantly surpasses the national average of $145,650, reflecting the high demand and specialized nature of economic roles within this influential region. The concentration of government agencies, think tanks, and international organizations in the DC metro area drives this elevated compensation.
Executive Summary
- Average Salary: $160,290 per year.
- Growth Trend: Salaries have shifted 12.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $223,810.
- Outlook: The local job market for economists in Washington-Arlington-Alexandria, DC-VA-MD-WV appears robust, with a substantial workforce of 4,300 professionals. The exceptionally high Location Quotient of 13.38 indicates a significant concentration of economists relative to the national average, suggesting strong and sustained demand for their expertise in this specific geographic area.
Salary Overview
The average Economists in Washington-Arlington-Alexandria, DC-VA-MD-WV earns+10.1%above the national average.
$77.1
$3,083
$13,358
Economists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salaries for economists in the Washington-Arlington-Alexandria, DC-VA-MD-WV area have experienced consistent growth over the past four years. This trend is generally observed in high-demand professional fields, particularly in metropolitan areas with a strong economic base and a high concentration of specialized roles.
Economists Salary Distribution in Washington-Arlington-Alexandria, DC-VA-MD-WV
Salary progression for economists in this region typically scales with experience. Entry-level positions will naturally fall at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized knowledge can command salaries well above the average. The widening gap between entry-level and senior-level salaries signifies clear career progression opportunities and the increasing value placed on expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $84,400 | $40.6 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $120,218 | $57.8 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $157,980 | $76 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $200,363 | $96.3 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $223,810 | $107.6 |
Detailed Economists Market Analysis
Relocation Context
Nominal Salary
$160,290
Gross Pay
Real Wage (Purchasing Power)
$160,290
Adjusted for COL (100)
The nominal average salary of $160,290 in Washington-Arlington-Alexandria, DC-VA-MD-WV is particularly attractive when considered against the local Cost of Living Index of 100. This index indicates that the cost of living in this metropolitan area is precisely at the national average, meaning that the higher salaries translate directly into strong purchasing power and a comfortable standard of living for economists.
Job Market Context
4,300
Total Jobs
1.377
Per 1K Jobs
13.38
Location Quotient
Washington-Arlington-Alexandria, DC-VA-MD-WV has 13.4x 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.
The Location Quotient of 13.38 for economists in Washington-Arlington-Alexandria, DC-VA-MD-WV is exceptionally high, signifying a market that is heavily concentrated with these professionals. This indicates a very competitive environment, but also a deep pool of talent and a strong ecosystem of economic expertise, suggesting that employers actively seek and value economists in this region.
Nearby Job Markets
Nearby Cities for Economists
| City | Salary | Dist. |
|---|---|---|
| Baltimore-Columbia-Towson, MD Economists Salary | $124,720↓ 22% | 35 mi |
Comparing salaries near Washington-Arlington-Alexandria, DC-VA-MD-WV
Hiring Economistss?
Frequently Asked Questions
How much does a Economists make in Washington-Arlington-Alexandria, DC-VA-MD-WV?
The median annual salary for a Economists in Washington-Arlington-Alexandria, DC-VA-MD-WV is $160,290. This typically ranges from $84,400 for entry-level positions to $223,810 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Washington-Arlington-Alexandria, DC-VA-MD-WV is 10.1% higher than the national median of $145,650.
Is Washington-Arlington-Alexandria, DC-VA-MD-WV a lucrative place for Economists?
Yes, it is a highly lucrative area for economists.Economists here earn significantly above the national average salary, and the cost of living is on par with the national average, maximizing their earning potential.
Is Washington-Arlington-Alexandria, DC-VA-MD-WV a good place to live for Economists?
The Cost of Living Index in Washington-Arlington-Alexandria, DC-VA-MD-WV is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Washington-Arlington-Alexandria, DC-VA-MD-WV?
Some top paying nearby cities include Baltimore-Columbia-Towson, MD ($124,720) and others.
How does the local economist salary compare to the national average?
The average annual salary for economists in Washington-Arlington-Alexandria, DC-VA-MD-WV is $160,290, which is notably higher than the national average of $145,650.
What is the concentration of economists in this area?
The Location Quotient is 13.38, indicating that economists are over 13 times more concentrated in this region compared to the national average.
How does the cost of living affect the economist salary?
With a Cost of Living Index of 100, the local cost of living matches the national average. This means the higher salaries earned by economists in this area translate directly into greater purchasing power.
What is the total number of economists in the Washington-Arlington-Alexandria, DC-VA-MD-WV area?
There are approximately 4,300 economists employed within the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,300 employees in the Washington-Arlington-Alexandria, DC-VA-MD-WV area with a job density of 1.377 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Economists Salaries by State
Top Jobs in Washington-Arlington-Alexandria, DC-VA-MD-WV
- All Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Business and Financial Operations Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Management Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Office and Administrative Support Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Food Preparation and Serving Related Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Computer and Mathematical Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Sales and Related Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Educational Instruction and Library Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Transportation and Material Moving Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Healthcare Practitioners and Technical Occupations Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
- Browse All Jobs in Washington-Arlington-Alexandria, DC-VA-MD-WV →
Semantic Salary Analysis for Economists • Data source: BLS OEWS 2024 •Jobs in Washington-Arlington-Alexandria, DC-VA-MD-WV