Training Requirements for Economists

Economists need a master's degree.

Degrees for Economists
Percent
Less than High School 0.0
High School 0.0
Some College 0.0
Associates Degree 0.0
Bachelors Degree 22.8
Masters Degree 47.7
Doctorate or Professional Degree 29.5

Employment Outlook for Economists

This represents about 21,000 people in the United States.

Over the next 10 years there will be aproximately 1,000 more economists but, because of expected growth and replacement needs in the United States, we will need 7,000 more.

Typical Income for Economists

Hourly Income

On average,economists make $54.26 per hour.

Bottom 10% Bottom 25% Median Top 75% Top 90%
Economists $26.51 $35.52 $48.58 $66.40 $87.05
Life, physical, and social science occupations $16.03 $21.67 $30.45 $43.78 $59.27
Social scientists and related workers $20.19 $26.84 $36.19 $47.75 $60.29
National Average $9.27 $11.60 $17.81 $28.92 $45.45

Annual Salaries

On average, economists make $112,860 per year.

Bottom 10% Bottom 25% Median Top 75% Top 90%
Economists $55,150 $73,890 $101,050 $138,120 $181,060
Life, physical, and social science occupations $33,350 $45,060 $63,340 $91,060 $123,280
Social scientists and related workers $41,990 $55,840 $75,280 $99,320 $125,400
National Average $19,290 $24,140 $37,040 $60,150 $94,540

This data is from the U.S. Bureau of Labor Statistics, Occupational Employment Statistics

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