In the public sector, Maine has a great need for economic development professionals who understand environmental sciences. With business, tourism, scientific and environmental interests all competing for access to Maine’s ocean accesses, local governments, chambers of commerce, as well as economic and industrial development agencies have shown a great need for economists who are able to weigh the findings of environmental impact studies in their analysis.
In the private sector, Maine is home to several major industry-leading corporations that support jobs for professionals with backgrounds in economics. Economic analysts work for Todd-Bath Iron Shipbuilding Corporation and South Portland Shipbuilding Corporation. In the areas of IT and biotechnology, Fairchild Semiconductor and IDEXX Laboratories are among the state’s biggest employers of financial analysts with economics backgrounds.
Economics Salaries in Maine
Mid to late career private sector managerial economists who often hold graduate degrees such as MBAs with a concentration in managerial economics, represent the highest earners in the state with backgrounds in economics. Among budget analysts in Maine within the 90th percentile, the average salary was $82,170 in May 2011, while the top ten percent of Maine’s financial analysts earned an average of $95,220 that year.
Truly unique career opportunities abound throughout Maine for public sector professionals with backgrounds in economics.
According to the Bureau of Labor Statistics, about 40 economists are employed in the state; however, the Bureau has not released salary data for Maine’s public sector economists. Those in the private sector with backgrounds in managerial economics serve as vital members of corporate strategic and financial management teams. In Maine, this includes the 320 financial analysts in the state who earned an average of $66,430 as of May 2011, and the 160 budget analysts serving Maine’s business community who earned $61,310 on average that year.