How Much Does An Economist Make?

Economists are actually paid very well for the work they do. Economists are employed in a variety of industries which also affect how much pay they received. They working in the federal government and even the postal service. There are those connected with the scientific research and development services industry. Economists also work in the management, scientific and technical consulting services industry. They work in state and local governments.

Economists work fulltime, with some devoting long hours to meet tight deadlines. To make the most of what the profession has to offer salary-wise, having a postgraduate degree, either a master’s or doctoral degree and related work experience would be needed. Those who only hold a bachelor’s degree will most likely not work as economists but as research assistants, market analysts, financial analysts and related occupations in the fields of business and finance. They will also find very tough competition for the jobs that are available. Economists who are very qualified and have already established a name for themselves also have ways to augment their income by taking on part-time consultancy work, teaching or writing.

Average Economist Salary

Economist Salary By State

Rank State Hourly Rate Annual Salary
#1 Virginia $60.80 $126,460
#2 Texas $60.38 $125,590
#3 District of Columbia $60.22 $125,260
#4 New York $60.09 $124,980
#5 California $57.53 $119,650
#6 Ohio $54.63 $113,640
#7 Maryland $54.29 $112,930
#8 Illinois $54.11 $112,550
#9 Louisiana $52.47 $109,130
#10 Massachusetts $51.68 $107,490
#11 Connecticut $50.36 $104,740
#12 Georgia $49.90 $103,800
#13 Missouri $49.72 $103,410
#14 Alabama $48.36 $100,590
#15 New Jersey $48.33 $100,530
#16 Idaho $47.94 $99,710
#17 Hawaii $47.64 $99,100
#18 Wisconsin $46.03 $95,740
#19 North Carolina $45.57 $94,780
#20 Colorado $45.45 $94,540
#21 Florida $45.14 $93,890
#22 Washington $43.44 $90,350
#23 Tennessee $42.80 $89,020
#24 Pennsylvania $41.52 $86,370
#25 Michigan $41.12 $85,520
#26 Alaska $40.63 $84,510
#27 Arizona $40.42 $84,060
#28 Montana $40.20 $83,610
#29 Nevada $39.72 $82,610
#30 Oregon $39.40 $81,960
#31 Utah $39.17 $81,480
#32 Iowa $39.12 $81,370
#33 Nebraska $39.05 $81,220
#34 Vermont $38.86 $80,830
#35 West Virginia $38.55 $80,190
#36 Oklahoma $38.27 $79,600
#37 Indiana $37.12 $77,200
#38 Delaware $36.36 $75,630
#39 Wyoming $35.38 $73,600
#40 New Hampshire $35.37 $73,580
#41 Minnesota $33.99 $70,700
#42 Kansas $33.13 $68,900
#43 Arkansas $32.88 $68,400
#44 South Carolina $32.10 $66,760
#45 Kentucky $31.03 $64,530
#46 New Mexico $29.75 $61,880
#47 Puerto Rico $19.93 $41,460

Career Spotlight: Economist

Leave A Comment