The average salary for an Economist is $75,109.
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What Do Economists Do?
Economists advise businesses and/or government organizations in different aspects of economics. Topics vary greatly, and they can include tax rates, health statistics, energy facts, transportation, international trade, and development.
Through the use of different computer programs, economists can gather and present data. Economists generally have a good understanding of different sampling or survey techniques to gain information. The evaluation of both past and present information in the fiel…Read more
- Design and conduct research to identify trends, formulate forecast models.
- Advise the government, agencies, corporations, and/or banks about the adoption of financial policies.
- Compile reports and illustrations of research findings.
- Devise methods for data collection, sampling, and processing in regard to finance, labor, agriculture, commodities, trade, etc.
Job Satisfaction for Economist
Popular Employer Salaries for Economist
The top respondents for the job title Economist are from the companies Research Triangle Institute (RTI), Bureau of Labor Statistics and Moody's Investors Service. Reported salaries are highest at Amazon.com Inc where the average pay is $132,000. Other companies that offer high salaries for this role include The World Bank Group and Bureau of Labor Statistics, earning around $116,744 and $88,850, respectively. Research Triangle Institute (RTI) pays the lowest at around $59,315. Moody's Investors Service and IHS Inc. also pay on the lower end of the scale, paying $59,682 and $59,941, respectively.
What Are Popular Skills for Economists?
Skills in Data Analysis, Econometrics, Statistical Analysis and Data Modeling are correlated to pay that is above average. Skills that pay less than market rate include Research Analysis.
What is the Pay by Experience Level for Economists?
An entry-level Economist with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $57,979 based on 156 salaries. An early career Economist with 1-4 years of experience earns an average total compensation of $67,864 based on 415 salaries. A mid-career Economist with 5-9 years of experience earns an average total compensation of $93,190 based on 181 salaries. An experienced Economist with 10-19 years of experience earns an average total compensation of $98,979 based on 123 salaries. In their late career (20 years and higher), employees earn an average total compensation of $119,559.
Pay Difference by Location
Employees with Economist in their job title in Washington, District of Columbia earn an average of 24.1% more than the national average. These job titles also find higher than average salaries in Chicago, Illinois (3.7% more) and Los Angeles, California (3.4% more). The lowest salaries can be found in Philadelphia, Pennsylvania (18.7% less), Boston, Massachusetts (12.0% less) and San Francisco, California (0.1% less).
Years of Experience
This data is based on 952 survey responses.