How Much Does an Economist Make in 2025?
An economist is responsible for collecting and analyzing data and researching market trends that can help companies create better financial stability. Additionally, economists conduct analysis on the potential impact of current laws and regulations and make sure that the company properly aligns with them.
Salary.com reports that the average salary of an economist is $150,543 as of September 19, 2025. This guide provides everything you need to know about an economist's salary - salary data from states and cities, factors within the industry that can affect earnings, as well as tips that can help increase an Economist's compensation.
What is the Average Economist's Salary?
Salary.com reports that the average salary for an economist as of September 19, 2025, in the United States is $150,543 per year. The average salary of an economist is $72 per hour, with rates ranging from $60 to $82.
2025 Average Economist Salary: $150,543 ($72 per hour)
Meanwhile, the monthly and weekly salary for an Economist is $12,545 and $2,895, respectively.
What is the Pay Range for an Economist?
Salary.com's data suggest that the salary for economists starts at $125,172 per year and can reach as high as $170,775, with most earning between $137,263 and $161,133.
However, it's important to note that this salary range for economists is heavily affected by key factors including education, level of experience, and geographic location.
Economist Salary Range: $125,172 to $170,775 ($60 to $82 per hour)
| Percentile | By Hour | By Week | By Month | By Year |
|---|---|---|---|---|
| 10th Percentile | $60 | $2,407 | $10,431 | $125,172 |
| 25th Percentile | $66 | $2,640 | $11,439 | $137,263 |
| 50th Percentile (Median) | $72 | $2,895 | $12,545 | $150,543 |
| 75th Percentile | $77 | $3,099 | $13,428 | $161,133 |
| 90th Percentile | $82 | $3,284 | $14,231 | $170,775 |
Economist Salary Factors
Similar to other jobs, several factors influence an Economist's salary. These include experience, location, and skills. See the figures below for more details.
Years of Experience
The average income for an Economist by years of experience ranges from $144,477 per year for entry-level Economist and expert-level Economist or those with more than 8 years of experience can receive $152,058.
| Level | Years of Experience | Average Salary per Year |
|---|---|---|
| Entry level Economist | <1 | $144,477 |
| Intermediate level Economist | 1-2 | $145,483 |
| Senior level Economist | 2-4 | $147,093 |
| Specialist level Economist | 5-8 | $149,105 |
| Expert level Economist | 8+ | $152,058 |
Skill Set
Directors of Manufacturing with certain in-demand skills are also in line to increase their salaries. For instance, the Real-time Job Posting Salary Data Report shows that economists with data analysis with business rules and financial markets knowledge can earn up to 7.86% and 7.34% more than those without.
On the other hand, an Economist with data analysis software and forecasting skills is more likely to land a job with a 10.80% and 10.70% demand increase, respectively.
| Skill | Demand increase | Salary increase |
|---|---|---|
| Business Rules | 10.40% | 7.68% |
| Financial Markets | 10.50% | 7.34% |
| Forecasting | 10.70% | 7.31% |
| Data Mining | 10.60% | 7.14% |
| Data Analysis Software | 10.80% | 6.94% |
| Programming Languages | 10.50% | 6.90% |
Economist Salary by City and State
The location you live and work in can greatly influence the salary of an Economist. Understanding how pay varies by city and state can help professionals in this field strategically select areas that maximize their earning potential and career opportunities, enabling them to take action to secure the best compensation.
Highest Paying States for Economist
Based on the Salary.com data, the salary of an Economist is the highest in the District of Colombia, at $166,683.
- District of Columbia: $166,683 (or $80 per hour)
- California: $166,043 (or $80 per hour)
- Massachusetts: $163,833 (or $79 per hour)
- Washington: $163,233 (or $78 per hour)
- New Jersey: $163,173 (or $78 per hour)
Economist Salary State by State
| State | Average annual salary |
|---|---|
| Alaska | $162,963 |
| Alabama | $138,303 |
| Arkansas | $136,003 |
| Arizona | $146,693 |
| California | $166,043 |
| Colorado | $153,593 |
| Connecticut | $160,883 |
| District of Columbia | $166,683 |
| Delaware | $152,453 |
| Florida | $142,443 |
| Georgia | $145,203 |
| Hawaii | $157,343 |
| Iowa | $144,073 |
| Idaho | $140,533 |
| Illinois | $153,443 |
| Indiana | $144,503 |
| Kansas | $143,343 |
| Kentucky | $141,663 |
| Louisiana | $143,133 |
| Massachusetts | $163,833 |
| Maryland | $155,223 |
| Maine | $146,783 |
| Michigan | $148,253 |
| Minnesota | $154,053 |
| Missouri | $143,033 |
| Mississippi | $134,253 |
| Montana | $142,123 |
| North Carolina | $143,063 |
| North Dakota | $148,703 |
| Nebraska | $141,823 |
| New Hampshire | $152,193 |
| New Jersey | $163,173 |
| New Mexico | $139,433 |
| Nevada | $148,993 |
| New York | $160,043 |
| Ohio | $146,583 |
| Oklahoma | $139,193 |
| Oregon | $152,873 |
| Pennsylvania | $149,863 |
| Rhode Island | $156,083 |
| South Carolina | $141,063 |
| South Dakota | $136,813 |
| Tennessee | $140,683 |
| Texas | $146,843 |
| Utah | $144,163 |
| Virginia | $151,593 |
| Vermont | $147,753 |
| Washington | $163,233 |
| Wisconsin | $148,093 |
| West Virginia | $135,563 |
| Wyoming | $144,373 |
Highest Paying Cities for Economist
Salary.com data also shows that San Jose, CA leads the salary for Economist with $189,873 per year.
- San Jose, CA: $189,873
- San Francisco, CA: $188,003
- Oakland, CA: $183,833
- New York, NY: $174,463
- Queens Village, NY: $173,333
- Paramus, NJ: $172,123
Ways to Increase Your Salary as an Economist
- Acquire a bachelor's degree: Having a Ph.D. in research, business, or international organizations can significantly boost an economists' salary moving forward. However, some bachelor's degree holders with significant credits in economics or statistics are welcome to apply, albeit with a smaller salary.
- Get the needed experience: Typically, economists would need 2 to 3 years of prior professional experience to be considered for the role. This can be done with the help of internships, and
- Develop better skills: Learning more about the systems included in an Economist's job description. For instance, having the aforementioned skills like business rules and financial market knowledge can help the Economist negotiate a higher salary.
- Moving to a different city: Seeking job openings in states and cities in the United States that compensate Economist better, like California or the District of Colombia and moving to these areas can increase your salary by an estimate of 10%.
- Know your worth: Negotiating your pay by researching market rates and showing how hard you work. As of this writing, the Economist earns between $125,172 to $170,775 per year.
Average National Salaries by Source
As of September 19, 2025, the following are the salaries for Economist from five top salary reporting sites, averaging $126,998 (unweighted) across these sites.
SALARY.COM AVG. SALARY
$150,543 / year
INDEED.COM AVG. SALARY
$120,256 / year
GLASSDOOR AVG. SALARY
$189,000 / year
PAYSCALE AVG. SALARY
$93,128 / year
ZIPRECRUITER AVG. SALARY
$82,064 / year
