|Quick Facts: Economists|
$108,350 per year
$52.09 per hour
|13% (Faster than average)|
Economists collect and analyze data, research trends, and evaluate economic issues for resources, goods, and services.
Although the majority of economists work independently in an office, many collaborate with other economists and statisticians. Most economists work full time during regular business hours, but occasionally they work overtime to meet deadlines.
Most economists need a master’s degree or Ph.D. However, some entry-level jobs—primarily in the federal government—are available for workers with a bachelor’s degree.
The median annual wage for economists was $108,350 in May 2020.
Employment of economists is projected to grow 13 percent from 2020 to 2030, faster than the average for all occupations.
About 1,600 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Explore resources for employment and wages by state and area for economists.
Compare the job duties, education, job growth, and pay of economists with similar occupations.
Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.