|Quick Facts: Economists|
$104,340 per year
$50.16 per hour
|6% (As fast as average)|
Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues.
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 $104,340 in May 2018.
Employment of economists is projected to grow 6 percent from 2016 to 2026, about as fast as the average for all occupations. Job prospects should be best for those with a master’s degree or Ph.D., strong analytical skills, and experience using statistical analysis software.
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.