|Quick Facts: Economists
$113,940 per year
$54.78 per hour
|6% (Faster than average)
Economists conduct research, prepare reports, and evaluate issues related to monetary and fiscal policy. They also may collect and analyze statistical data.
Economists typically work in an office setting, either independently or collaborating with a variety of other workers. Most economists work full time, and some work more than 40 hours per week.
Economists typically need at least a master’s degree to enter the occupation. However, some economists—primarily in government—qualify for entry-level positions with a bachelor’s degree. Others need a Ph.D.
The median annual wage for economists was $113,940 in May 2022.
Employment of economists is projected to grow 6 percent from 2022 to 2032, faster than the average for all occupations.
About 1,200 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.