Explore national salary, projected growth, education requirements, and career opportunities across the United States.
A concise view of this occupation’s national scale, compensation, and projected demand.
National median annual wage for this occupation.
Estimated jobs currently supported nationwide.
Projected employment change through 2034.
Estimated openings created each year.
The typical education, prior experience, and on-the-job training associated with entry into this career.
Master's degree
None
None
These are the highest-rated capabilities associated with success in this occupation. Scores are derived from occupational skill analysis and are measured on a 100-point scale.
Based on skills, knowledge, and work activities, these occupations are the closest match to your current career.
Explore the states and metropolitan areas offering the strongest combination of salary, employment, demand, and long-term opportunity.
Discover metro markets where compensation, hiring demand, and long-term momentum align.
Understand the salary, outlook, education, and geographic opportunities shaping this career.
Economists study how resources are produced, distributed, and consumed, using analytical tools to interpret data and inform decisions. This career offers a combination of strong national earnings, a specialized skill profile, and defined educational expectations. With national median pay of $115,440 and employment of about 18,000, it is a relatively focused profession with a clear pathway for those who enjoy quantitative thinking and structured analysis. Projected employment growth of 1.2% and about 1,000 annual openings suggest a steady flow of opportunities rather than a rapidly expanding field. The work draws heavily on mathematics, critical and analytical thinking, and strong writing and reading abilities, supported by competence in computers and information technology. Economists also benefit from strengths in communication, problem solving, and decision making. For people who like working with complex information, constructing arguments, and supporting decisions with evidence, this occupation offers a structured and intellectually demanding career path with concentrated opportunities in select states and metro areas.
Economists earn a national median annual salary of $115,440, placing this occupation in a relatively high-paying tier. Pay varies noticeably by location. Among states, New York reports a median salary of $136,660, followed by Colorado at $121,410 and California at $119,410. Massachusetts and Washington also offer six-figure medians of $106,380 and $109,300, respectively. At the metro level, salary differences are even more pronounced. Economists in the New York-Newark-Jersey City area have a median salary of $176,090, while Washington-Arlington-Alexandria offers $156,750 and Los Angeles-Long Beach-Anaheim offers $151,510. San Francisco-Oakland-Fremont has a median of $142,400, and Boston-Cambridge-Newton stands at $108,140. These figures suggest that while earnings are strong nationally, choosing certain metro areas—particularly New York, Washington, Los Angeles, and San Francisco—can significantly increase earning potential for qualified economists.
Economists have a national employment level of about 18,000, reflecting a relatively small and specialized profession. Projected employment growth of 1.2% indicates modest expansion rather than rapid change. With approximately 1,000 annual openings, opportunities are likely to come from a mix of new positions and turnover in existing roles. This balance can support a steady but competitive job market, particularly for candidates who meet the typical education standard and bring the listed skills. The projected growth rate is consistent across the highlighted states and metro areas, each showing a 1.2% growth figure. For job seekers, this suggests that regional differences in opportunity may be driven more by salary levels, employment concentration, and opportunity scores than by differing growth rates. Overall, the outlook supports a stable career path for individuals who pursue the necessary education and develop strong quantitative, analytical, and communication capabilities.
Location plays a major role in shaping opportunities for economists. Among states, California, Massachusetts, and New York stand out with the highest CareerGPS opportunity scores: 67.38, 65.87, and 65.78, respectively. New York combines this strong score with a median salary of $136,660, while California offers $119,410 and Massachusetts $106,380. Colorado and Washington also appear as attractive options, with opportunity scores above 56 and six-figure or near–six-figure median salaries. At the metro level, differences are even clearer. The New York-Newark-Jersey City area has the highest opportunity score at 77.27 and the highest median salary at $176,090. San Francisco-Oakland-Fremont, Washington-Arlington-Alexandria, Boston-Cambridge-Newton, and Los Angeles-Long Beach-Anaheim all show opportunity scores above 62 and median salaries above $100,000. Washington-Arlington-Alexandria also has notably high employment at 4,570, indicating a large concentration of economist roles there.
The typical education level for economists is a master’s degree, indicating that this is an advanced profession with substantial graduate-level training. Students and career changers considering this path should plan for education that builds strong foundations in mathematics, critical and analytical thinking, and writing and reading. Because economists often rely on data and structured analysis, skills in computers and information technology are also important. Beyond technical strengths, the role benefits from speaking and listening skills, problem solving and decision making, and creativity and innovation to approach complex questions. Leadership, adaptability, and project management round out the profile, supporting work in collaborative and evolving environments. Together, the master’s degree requirement and this broad skill set reflect a career that blends quantitative rigor, clear communication, and the ability to manage projects and ideas from analysis through to implementation or recommendation.
Use CareerGPS Pro to compare markets, understand the tradeoffs, and focus on the places with the strongest potential.
