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The national median salary for Economists is $115,440 per year ($55.50/hr) according to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2024. The middle 50% of earners make between $82,264 and $166,026 annually. Top earners at the 90th percentile reach $212,722 per year. There are approximately 15,880 economists employed in the United States.
About This Role
BLS Standard Occupational Classification 2018
Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.
Career Outlook
BLS Employment Projections · 2024-2034
10-year growth
+1.2%
About as fast as average
Annual openings
900
per year, on avg
Workforce today
18K
as of 2024
Why those openings exist
2% from new growth98% from people leaving the role
Most openings come from replacement, not growth. Retention matters more than recruiting here.
Typical entry requirements
Education
Master's degree
Experience
None
On-the-job training
None
Industry Wage Breakdown
Top 5 industries by employment · median annual wage, sector-specific
Industry
Workforce
Median Pay
Federal Executive Branch (OEWS Designation)
NAICS 999100
5K
$141,590
State Government, excluding Schools and Hospitals (OEWS Designation)
NAICS 999200
2K
$74,520
Management, Scientific, and Technical Consulting Services
NAICS 541600
2K
$102,450
Local Government, excluding Schools and Hospitals (OEWS Designation)
NAICS 999300
1K
$92,440
Scientific Research and Development Services
NAICS 541700
1K
$129,430
Wage range across top 5 industries: $74,520 to $141,590 (90% spread)
Wage Percentiles
Hourly & annualized (2,080 hours)
Percentile
Hourly Rate
Annual Salary
P10
$29.97
$62,338
P25
$39.55
$82,264
P50MEDIAN
$55.50
$115,440
P75
$79.82
$166,026
P90
$102.27
$212,722
Market Context Signal
JOLTS · professional sector
Cooling
Openings Rate
4.2%
Quits Rate
2.0%
Professional & Business Services openings tumbled 318K in March -- the largest single-sector drop in this release. Openings rate fell from 5.5% to 4.2%. Layoffs jumped to 527K (+99K). White-collar demand has cooled abruptly.
Frequently Asked Questions
What is the average economists salary?
The national median salary for Economists is $115,440 per year ($55.50/hr) according to BLS OEWS May 2024 data. The middle 50% earn between $82,264 and $166,026 annually.
How much do top-earning economists make?
The 90th percentile salary for Economists is $212,722 per year ($102.27/hr). The 75th percentile is $166,026 per year.
What is the entry-level salary for economists?
Entry-level Economists (10th percentile) earn approximately $62,338 per year ($29.97/hr). The 25th percentile is $82,264 per year.
Wage figures on this page come from the U.S. Bureau of Labor Statistics (BLS) Occupational Employment & Wage Statistics (OEWS) survey, May 2024 release. OEWS surveys roughly 1.1 million establishments annually. It is the most comprehensive employer-reported wage dataset in the United States.
P10 through P90 percentiles represent the wage distribution across all surveyed employers (not self-reported by workers). Geographic adjustments use BLS-derived cost multipliers calibrated from regional wage variation.
Wages are estimates. Individual compensation depends on experience, education, employer size, industry, and negotiation. Use this as benchmark context, not absolute ground truth.
CompSignal is a free labor market intelligence tool built for HR, compensation, and talent acquisition teams. We make BLS data, the same primary source Mercer and Radford cross-reference in their paid surveys, searchable and actionable without an enterprise subscription.
Built and maintained by Falcon Incentives, a compensation strategy and incentive design consultancy.