What Type of Salary Can You Expect with an Economics Degree?

With an economics degree, you can not only expect a relatively high starting salary (even with just a bachelor’s degree), but you also have job security. Even in a down economy, those who understand economics are in high demand to help businesses, individuals, non-profits, governments, and more make sound financial and business decisions. Your salary as someone with an economics degree depends on the job you choose, along with a number of other factors, but let’s take a look at just what you can expect to earn in this field, on average.

Average Base Salary

According to the Bureau of Labor Statistics, the average salary for economists is $99,350 annually, which works out to around $47.77 per hour. The middle fifty percent earn between $63,790 and $122,760 annually, with the top ten percent averaging over $155,00 annually. So yes, a six-figure salary is definitely possible in this field!

Salary By Location

As you can imagine, an economist in a large city is going to make more money than an economist in a rural area. It’s not all about the size of the city though; it depends on the strength of the job market for economists, especially if you’re working in a specialized field. According to reports, the top states for economists, in terms of salary are as follows:

  • Arizona: $146,590
  • Virginia: $116,400
  • District of Columbia: $115,350
  • Maryland: $110,160
  • California: $102,850

More specifically, check out jobs in the following cities if you’re interested in a high salary as an economist: San Francisco, Bethesda/Frederick (Maryland), Austin, Washington D.C., Los Angeles, New York, Bridgeport/Stamford (Connecticut), St. Louise, Pittsburgh, and Baltimore. In all of these cities, the average salary for an economist is over $100,000 annually, and in the top three cities, it is above $120,000 annually.

Top-Paying Employers

The type of employer who hires you also plays a big role in what you can expect to earn with a degree in economy. According to studies, the top paying types of employers are:

  • Monetary Authorities/Central Banks: $125,790
  • Depository Credit Intermediation: $125,570
  • Scientific Research and Development Services: $122,210
  • Management, Scientific, and Technical Consulting Services: $121,350

You can also expect to make a fairly high salary working for the federal government, especially in and around the Washington D.C. metropolitan area.

Guide to 110+ Accredited Economics Degrees

Ashford University . Ashford University's MBA in Business Economics program is a specialty degree that expands on the traditional MBA to offer students an advanced exploration into analysis of business economics, markets, trends, and projections of the economy. Courses reinforce the relationship between economics and finance. Graduates work as economic analysts, strategists, and consultants. Ashford University is accredited by the WASC Senior College and University Commission, 985 Atlantic Avenue, Suite 100, Alameda, CA 94501, 510-748-9001, wascsenior.org.
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Grand Canyon University . Some of the most sought after business degrees are in Finance & Economics and Accounting. Grand Canyon University offers bachelor's degrees in both of these fields and is widely respected for their outstanding faculty. This school also offers an MBA in Accounting which provides the framework for critical decision making key to the success of top managers.
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Liberty University . Liberty University Online gives you the flexibility of earning degrees in prominent business areas with the flexibility of learning online. The degree offerings include a BS in Business Economics, an AA in Accounting, and BS in Accounting. These programs teach you vital functions necessary for corporate positions within companies allowing you to record and interpret company financial data.
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Kaplan University . Kaplan University has two exciting programs offered in Finance which are the bachelor's degree and MBA. The bachelor's degree teaches you the fundamental to make effective capital management decisions for a company while the MBA teaches you the skills necessary for critical decision making necessary for upper management. Kaplan also offers an AAS or BS in Accounting which teaches students how to properly record company transactions.
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