The Survey of the Labor Market for New Ph.D. Hires in Economics 2011-2012, published by the University of Arkansas Center for Business and Economic Research, found that 191 of the responding educational institutions hired 132 new PhD graduates for the 2010-2011 academic year, starting them with an average salary of $87,596.
Specialized foci among new hires were distributed as follows:
- 16.1 percent in macro/monetary economics
- 11.3 percent in microeconomics
- 11.3 percent in general economics
- 10.5 percent in math and quantitative methods
- 9.7 percent in international economics
- 8.9 percent in labor and demographic economics
The survey also reported the following mean salaries among economics professors for the 2010-2011 academic year:
- Senior Assistant Professor – $102,177
- Associate Professor – $127,096
- Full Professor – $191,778
The mean annual salary for economists was $100,270, as of May 2011, according to the Bureau of Labor Statistics. The top paying industries were:
- Depository Credit Intermediation, at an average of $141,190
- Monetary Authorities-Central Bank, at an average of $135,120
- Pharmaceutical and Medicine Manufacturing, at an average of $120,790
The industries that employ the most economists and the respective average salary for each are as follows:
- The Federal Executive Branch, at an average of $109,380
- Management, Scientific, and Technical Consulting Services, at an average of $119,180
- State Government, at an average of $62,030
- Local Government, at an average of $74,770
- Scientific Research and Development Services, at an average of $105,460
The National Association for Business Economics (NABE) 2010 salary survey showed the median base salary among NABE members to be $120,000, and a median base salary of $58,000 among entry-level survey respondents. The highest base salary was in the manufacturing sector, where the median was $152,500, followed by the securities and investment sector, where the median salary was $150,000. The lowest base salaries were found among economists in non-profit research, where the median was $93,000.
By function, the survey found that the highest median base salary was for general administrative/economics positions ($155,500), followed by macroeconomic forecasting ($150,000).
The median base salary among NABE members with a master’s degree was $100,380, compared to $91,000 for the bachelor’s degree sampling, and $150,000 among PhD holders. The survey also found that the median salary for graduates of “top-ranked” economics programs was 46 percent more than what graduates of other programs earned.
Budget Analyst Salaries
Area Name
Employment
Hourly mean wage
Annual mean wage
Hourly median wage
Hourly 75th percentile wage
Hourly 90th percentile wage
Annual median wage
Annual 75th percentile wage
Annual 90th percentile wage
Alabama
950
35.27
73350
34.52
42.63
49.31
71810
88680
102550
Alaska
340
37.05
77060
34.36
43.14
57.70
71460
89730
120010
Arizona
970
31.39
65290
30.49
36.39
43.67
63410
75690
90840
Arkansas
550
23.76
49420
21.33
29.43
36.59
44370
61220
76120
California
10830
37.75
78510
37.42
45.18
54.17
77840
93970
112670
Colorado
1210
35.63
74110
34.58
42.47
49.87
71920
88330
103730
Connecticut
1000
37.12
77210
36.95
42.40
47.70
76860
88190
99210
Delaware
150
31.56
65640
31.27
38.23
43.48
65050
79510
90430
District of Columbia
1960
41.55
86420
42.00
48.51
54.86
87360
100900
114100
Florida
2500
30.27
62960
28.92
36.21
44.26
60140
75320
92070
Georgia
1670
32.60
67800
31.28
39.63
47.20
65060
82440
98180
Guam
50
23.76
49410
22.65
27.84
34.39
47110
57910
71530
Hawaii
340
33.61
69910
32.70
38.25
45.07
68010
79560
93740
Idaho
160
31.66
65850
30.35
36.38
44.58
63140
75680
92730
Illinois
1460
33.48
69630
33.01
40.58
46.23
68650
84400
96170
Indiana
370
30.81
64080
29.47
37.08
43.88
61290
77120
91270
Iowa
270
31.65
65830
30.53
36.44
42.19
63510
75800
87760
Kansas
600
30.76
63990
30.96
37.43
42.98
64390
77850
89390
Kentucky
1230
26.97
56100
25.23
30.42
38.59
52480
63270
80280
Louisiana
410
29.36
61060
27.60
34.95
43.00
57420
72700
89440
Maine
160
29.48
61310
29.07
34.02
39.50
60470
70750
82170
Maryland
2220
38.31
79680
37.34
47.06
55.34
77670
97890
115110
Massachusetts
1740
35.42
73680
34.19
42.54
50.79
71120
88480
105650
Michigan
820
34.36
71470
33.37
40.43
47.95
69400
84100
99730
Minnesota
510
34.27
71280
33.95
41.27
47.73
70620
85840
99280
Mississippi
280
28.23
58720
27.60
33.45
40.79
57410
69570
84850
Missouri
1210
31.80
66150
30.44
37.29
44.54
63320
77550
92640
Montana
250
26.66
55450
25.86
30.24
35.88
53780
62900
74620
Nebraska
250
30.46
63350
29.37
36.00
42.78
61090
74880
88990
Nevada
320
34.06
70850
33.09
38.71
46.13
68830
80520
95950
New Hampshire
150
35.87
74620
33.64
42.44
52.71
69970
88260
109630
New Jersey
1470
36.26
75420
35.53
43.01
51.14
73900
89470
106370
New Mexico
610
32.46
67510
31.01
38.59
44.59
64510
80270
92740
New York
2590
32.93
68490
31.64
39.06
45.83
65810
81250
95320
North Carolina
940
31.32
65150
29.97
36.90
43.91
62340
76740
91340
North Dakota
140
30.19
62790
30.16
35.84
40.82
62720
74540
84900
Ohio
1560
34.28
71300
34.10
41.20
46.74
70930
85700
97210
Oklahoma
650
28.90
60100
28.51
35.77
40.64
59310
74400
84540
Oregon
760
31.20
64900
30.59
35.14
41.14
63620
73100
85580
Pennsylvania
1670
33.10
68840
31.74
39.20
46.58
66030
81540
96880
Puerto Rico
570
21.88
45510
20.05
26.52
34.88
41710
55160
72550
Rhode Island
270
28.58
59440
27.20
35.77
45.03
56570
74410
93660
South Carolina
470
30.68
63810
29.44
35.92
43.25
61230
74720
89960
South Dakota
120
26.35
54820
25.62
29.66
36.48
53280
61680
75880
Tennessee
660
31.17
64840
30.34
37.36
44.51
63100
77700
92590
Texas
3990
31.98
66520
30.35
37.91
45.19
63130
78850
93990
Utah
450
33.53
69740
33.93
38.71
43.38
70580
80520
90220
Vermont
90
27.66
57530
26.57
33.09
37.64
55260
68820
78290
Virginia
2850
38.60
80290
37.50
45.66
54.54
78000
94960
113440
Washington
2180
34.93
72650
34.20
40.88
46.07
71130
85030
95820
West Virginia
160
30.30
63030
28.90
38.59
43.50
60110
80270
90490
Wisconsin
560
31.27
65040
30.19
35.74
42.66
62790
74340
88740
Wyoming
100
29.49
61350
28.51
34.03
37.45
59300
70780
77900
Economist Salaries
Area Name
Employment
Hourly mean wage
Annual mean wage
Hourly median wage
Hourly 75th percentile wage
Hourly 90th percentile wage
Annual median wage
Annual 75th percentile wage
Annual 90th percentile wage
Alabama
60
45.57
94780
37.09
52.51
82.45
77140
109220
171490
Alaska
90
39.16
81460
40.22
44.87
51.26
83660
93320
106630
Arizona
360
67.92
141260
38.23
*90.00
*90.00
79510
*187199
*187199
Arkansas
90
30.53
63500
27.61
35.48
45.12
57430
73800
93850
California
2320
51.93
108000
45.70
62.47
85.09
95060
129930
176980
Colorado
160
43.96
91450
44.15
53.21
61.53
91830
110680
127980
Connecticut
230
44.49
92540
41.95
45.53
59.78
87250
94700
124340
Delaware
30
35.48
73790
32.51
41.81
48.24
67620
86970
100330
District of Columbia
3770
54.54
113440
53.01
65.91
74.76
110250
137090
155500
Florida
190
40.89
85060
35.93
45.46
73.66
74720
94550
153220
Georgia
250
45.24
94100
44.88
53.76
63.42
93350
111820
131920
Hawaii
60
30.06
62520
28.49
34.70
44.07
59270
72180
91670
Illinois
440
47.12
98020
42.78
57.32
73.64
88980
119230
153170
Indiana
60
43.88
91260
43.49
51.50
56.98
90460
107110
118520
Iowa
80
28.23
58710
25.32
35.24
42.76
52660
73290
88940
Kansas
40
34.05
70820
30.07
47.23
53.74
62540
98230
111770
Kentucky
130
29.68
61730
27.34
33.63
44.87
56880
69940
93340
Louisiana
60
38.31
79690
38.06
48.77
54.33
79160
101440
113000
Maine
40
Estimate Not Released
Estimate Not Released
Estimate Not Released
Estimate Not Released
Estimate Not Released
Estimate Not Released
Estimate Not Released
Estimate Not Released
Maryland
370
51.03
106130
51.37
63.11
71.49
106850
131260
148690
Massachusetts
430
43.44
90350
35.80
55.02
71.14
74470
114450
147970
Michigan
180
39.94
83070
38.03
44.34
60.58
79110
92240
126000
Minnesota
260
32.55
67710
28.85
34.90
47.84
60000
72600
99510
Missouri
160
42.54
88480
39.70
48.52
66.83
82570
100930
139000
Montana
50
37.84
78710
35.29
47.81
54.17
73390
99450
112680
Nebraska
50
37.07
77100
36.14
45.18
55.73
75170
93980
115910
Nevada
50
35.20
73210
34.25
43.01
52.74
71240
89470
109700
New Jersey
220
45.96
95600
44.35
56.17
68.99
92250
116820
143500
New Mexico
80
29.51
61380
28.76
32.53
39.95
59830
67660
83090
New York
470
50.12
104240
45.28
58.52
81.29
94170
121720
169080
North Carolina
210
40.95
85170
37.67
50.86
65.10
78360
105800
135410
Ohio
150
47.25
98270
44.28
57.26
72.46
92100
119090
150710
Oklahoma
120
31.27
65040
30.63
35.26
41.85
63720
73340
87050
Oregon
230
45.43
94500
36.57
49.06
71.21
76060
102040
148120
Pennsylvania
510
46.74
97210
43.53
55.49
70.69
90540
115420
147040
South Carolina
100
33.19
69040
30.49
39.98
50.19
63430
83160
104390
Tennessee
60
39.86
82920
39.41
48.31
61.86
81970
100490
128680
Texas
860
46.38
96480
41.13
60.60
82.19
85550
126050
170950
Utah
40
36.92
76790
36.61
43.25
51.14
76140
89960
106370
Vermont
60
39.55
82270
34.42
42.97
77.11
71590
89370
160380
Virginia
470
56.59
117700
52.26
68.04
88.18
108700
141520
183410
Washington
240
39.01
81140
37.66
44.32
54.96
78330
92180
114310
West Virginia
100
22.33
46440
17.13
21.87
44.59
35630
45480
92740
Wisconsin
170
37.69
78400
29.89
43.28
59.11
62170
90010
122950
Financial Examiner Salaries
Area Name
Employment
Hourly mean wage
Annual mean wage
Hourly median wage
Hourly 75th percentile wage
Hourly 90th percentile wage
Annual median wage
Annual 75th percentile wage
Annual 90th percentile wage
Alabama
240
36.32
75550
33.00
47.23
56.70
68650
98230
117930
Alaska
Estimate Not Released
28.03
58300
27.58
33.96
41.44
57360
70640
86190
Arizona
330
35.48
73810
33.22
43.01
57.02
69090
89470
118590
Arkansas
200
33.45
69570
32.41
39.98
54.26
67410
83160
112870
California
Estimate Not Released
41.96
87280
37.26
52.02
69.59
77510
108200
144740
Colorado
430
41.30
85910
38.22
50.36
67.09
79490
104750
139550
Connecticut
310
43.89
91300
41.70
49.24
72.48
86730
102410
150750
Delaware
140
42.42
88220
37.53
51.10
70.45
78060
106280
146530
District of Columbia
420
62.59
130180
65.14
79.13
87.52
135480
164590
182050
Florida
670
42.14
87660
40.27
54.24
63.95
83770
112810
133020
Georgia
1020
40.42
84080
36.44
53.83
66.20
75790
111970
137700
Hawaii
60
34.85
72490
29.73
41.51
51.72
61830
86350
107590
Idaho
60
28.45
59180
24.51
34.45
42.06
50990
71660
87480
Illinois
1560
44.20
91940
42.94
54.21
67.61
89320
112750
140640
Indiana
370
35.51
73870
30.04
47.53
59.32
62480
98870
123390
Iowa
640
36.71
76350
33.43
44.87
58.97
69540
93330
122660
Kansas
260
36.85
76650
30.06
48.93
62.17
62520
101770
129320
Kentucky
220
38.73
80560
31.81
49.39
61.28
66160
102740
127470
Louisiana
200
38.10
79250
34.67
51.92
60.81
72110
107990
126480
Maine
90
30.62
63680
29.47
36.04
45.04
61300
74960
93680
Maryland
510
34.08
70880
29.72
39.57
54.61
61820
82300
113590
Massachusetts
1410
40.82
84900
38.28
47.31
66.96
79620
98400
139270
Michigan
350
33.21
69080
30.21
42.20
56.69
62850
87770
117910
Minnesota
780
37.01
76990
33.47
45.15
60.60
69610
93910
126060
Mississippi
170
31.92
66390
28.60
40.08
54.95
59500
83360
114300
Missouri
770
38.68
80460
35.41
48.76
65.24
73650
101410
135700
Montana
80
30.26
62940
26.33
35.40
50.01
54770
73620
104020
Nebraska
500
32.77
68160
30.33
40.50
54.16
63090
84240
112660
Nevada
60
35.07
72950
33.61
42.33
56.98
69910
88050
118510
New Hampshire
150
37.84
78700
34.43
43.22
61.63
71610
89890
128190
New Jersey
860
45.42
94480
41.10
54.95
71.83
85480
114300
149420
New Mexico
60
38.43
79940
36.72
54.65
60.77
76380
113680
126410
New York
2010
49.47
102900
43.46
63.90
85.16
90410
132910
177140
North Carolina
920
40.74
84730
37.06
52.60
66.04
77080
109400
137370
North Dakota
80
36.59
76110
30.95
45.72
59.96
64370
95100
124710
Ohio
920
36.49
75900
32.59
45.21
60.42
67790
94030
125670
Oklahoma
370
36.29
75490
31.80
52.04
61.70
66140
108240
128330
Oregon
270
33.46
69600
31.52
39.54
49.60
65560
82250
103170
Pennsylvania
1390
37.98
79000
34.09
50.02
62.06
70900
104040
129080
Puerto Rico
170
25.80
53650
21.95
31.09
43.67
45660
64670
90840
Rhode Island
210
35.33
73490
31.72
42.50
60.82
65980
88400
126510
South Carolina
Estimate Not Released
35.66
74180
33.32
45.14
55.85
69310
93900
116170
Tennessee
450
36.62
76180
33.36
47.58
62.67
69390
98960
130350
Texas
2060
40.38
83990
35.76
53.97
67.99
74380
112260
141420
Utah
350
35.39
73610
32.07
43.61
57.64
66700
90720
119900
Vermont
50
29.69
61750
29.68
35.25
40.67
61730
73320
84600
Virginia
880
38.39
79850
34.32
50.66
66.58
71390
105370
138490
Washington
640
33.69
70070
30.36
39.30
51.12
63160
81750
106330
Wisconsin
340
41.05
85390
31.38
53.26
68.08
65280
110790
141620
The U.S. Department of Labor, Bureau of Labor Statistics made the earnings information contained within these tables available in May 2011.
* Earnings are equal to or more than $90.00 per hour or $187,199 per year.
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