How much does a economist make?

The median pay is $59.96 per hour — roughly $124,500 a year, with the real range running from about $32.38/hr (10th percentile) to $114.45/hr (90th percentile). Source: U.S. Bureau of Labor Statistics.

Do you need a degree to be a economist?

The typical entry-level education is: Master's degree. Overall preparation level: extensive preparation (Job Zone 5 of 5).

What does a economist actually do all day?

Study economic and statistical data in area of specialization, such as finance, labor, or agriculture. Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques. Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.

Science

Economists

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.

What it pays
Economists earn a median of $59.96/hr — about $124,500 a year. The lowest-paid 10% earn $32.38/hr; the top 10% earn $114.45/hr. (Annual figures are approximate: hourly × 2,080.)

What you'd actually do

Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
Explain economic impact of policies to the public.
Review documents written by others.
Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.

How you get there

Typical entry-level education: Master's degree. Overall preparation: extensive preparation (Job Zone 5 of 5).

The feel of the work

Much of the day is spent working solo; it rewards working independently. (Compared against the other 818 careers in the guide.)

Working for yourself

About 3.7% of economists are self-employed.

Who it tends to fit

This work tends to fit people who are analytical, organized and detail-focused and take-charge.

Work a simulated shift in this job — freeMake the real decisions this job involves, then see what your choices say about you.

Related careers

Quick questions

How much does a economist make?: The median pay is $59.96 per hour — roughly $124,500 a year, with the real range running from about $32.38/hr (10th percentile) to $114.45/hr (90th percentile). Source: U.S. Bureau of Labor Statistics.
Do you need a degree to be a economist?: The typical entry-level education is: Master's degree. Overall preparation level: extensive preparation (Job Zone 5 of 5).
What does a economist actually do all day?: Study economic and statistical data in area of specialization, such as finance, labor, or agriculture. Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques. Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.

Wages: U.S. Bureau of Labor Statistics, OEWS. Tasks & interests: O*NET. Career pathways shown in the app are draft archetypes — verify before relying on them. Trailhead is a free career guide for students — honest numbers, no hype.

Trailhead is operated by FLEXVermont LLC. It is intended for high-school students age 13 and older, and the educators and families who support them, and is not directed to children under 13. Trailhead is provided for general informational and educational purposes only. It does not offer professional, financial, or career advice, and its wage figures and pathways are estimates that may not fit your situation — they should not be relied on as the sole basis for any decision.