Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Wage Overview for Those Majoring in Economics

Career News May 13, 2014

Various factors, such as degree level, position, city location, and employer, determine the salary of economics majors. The level of education one gets may also change the salary.

Wage Levels of Economics Majors

In 2008, about 14,600 individuals were employed as general economists across the country (U.S. Bureau of Labor Statistics (BLS)). The government employed more than 50% of them. In May 2009, these professionals banked an average annual wage of $96,320. In March 2009, economists employed by the federal government took home an average annual wage of $108,810 (BLS).

However, economics majors can seek other job titles than that of an ‘economist’; these include regional sales manager, financial advisor, statistician, bank branch manager, sales director, securities trader, and business analyst. These individuals earn different salaries depending on their location and education level, among other things.

Salary Levels of Bachelor’s Degree Graduates in Economics

Lower salaries tend to be paid to bachelor’s degree graduates, with the level of pay varying with the type of bachelor’s degree. In 2010, for instance, Bachelor of Arts (B.A.) graduates in Economics took home an average annual wage ranging between $34,800 and $137,000, while Bachelor of Science (B.S.) graduates banked between $42,566 and $80,984.

The following shows typical salary levels for bachelor’s degree graduates by occupation:

Bachelor of Arts (B.A.):

•Credit analyst: $45,200
•Financial analyst: $54,300
•Banking branch manager: $58,100
•Financial controller: $86,800

Bachelor of Science (B.S.):

•Credit analyst: $42,566
•Banking branch manager: $45,198
•Financial analyst: $51,057
•Financial controller: $80,984

The following shows the typical salary levels for bachelor’s degree graduates in popular cities (2010):

Bachelor of Arts (B.A.):

•Chicago: $60,746
•Washington, D.C.: $61,085
•Boston: $61,342
•Los Angeles: $64,494
•Seattle: $67,830
•New York: $68,210
•San Francisco: $79,499

Bachelor of Science (B.S.):

•Houston: $54,239
•Dallas: $55,495
•Chicago: $58,838
•San Francisco: $60,521
•Washington, D.C.: $60,689
•Los Angeles: $61,269
•New York: $64,123

Salary Levels of Master’s Degree Graduates in Economics

Being a corporate economist or a general economist are among the popular options for master’s degree graduates in economics who seek occupations. In 2010, general economists took home an average annual wage of $52,072, while corporate economists banked $55,000.

The following shows the typical salary levels for master’s degree graduates in popular cities (2010):

•Boston: $64,199
•Dallas: $69,500
•Washington, D.C.: $72,644
•Chicago: $76,125
•New York: $78,108
•Los Angeles: $80,000
•San Francisco: $82,266

Salary Levels of Doctorate Degree Graduates in Economics

In 2010, graduates of a doctorate degree program in economics banked between $71,216 and $116,288.

The following displays the typical salary levels of doctorate degree graduates in economics by occupation:

•Assistant professor: $71,216
•Associate professor: $73,000
•Economist: $92,636
•Corporate economist: $97,684
•Statistician: $105,000
•Professor: $116,288

The following shows the typical salary levels for doctorate degree graduates in popular cities (2010):

•Los Angeles: $69,400
•Boston: $78,108
•Houston: $80,131
•San Francisco: $93,191
•New York: $99,157
•Washington, D.C.: $111,649
•Chicago: $125,000

Showing schools in your area

Matching School Ads
1 Program(s) Found
  • Ready to earn your business degree? If you identify with at least one of the statements below, GCU could be a good fit for you!
  • I have worked in the business field for a number of years and want to further my education in order to qualify for promotions, leadership positions, and salary increases.
  • I am graduating from high school and am interested in pursuing a career in a business field, but I first need the skills experience.
  • I am interested in a Bachelor's, Master's or Doctoral degree in my specialized business area of focus.
  • I want flexible course offerings, such as the option of 100% online, evening or campus classes.
  • I need a university that provides quality educational offerings through academic excellence and real-world relevance. Does this sound like you? Apply today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Our top-ranking program blends modern business theory with real-world experience
  • Institutionally accredited by SACSCOC with ACBSP graduate business program accreditation
  • High-quality, Christ-centered education with online and select on-campus & evening courses
  • Qualifying bachelor's students can transfer up to 90 credit hours into their degree program
  • 86% of Regent students receive some form of financial aid
  • Online Courses
3 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Showing schools in your area

Matching School Ads
1 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Our top-ranking program blends modern business theory with real-world experience
  • Institutionally accredited by SACSCOC with ACBSP graduate business program accreditation
  • High-quality, Christ-centered education with online and select on-campus & evening courses
  • Qualifying bachelor's students can transfer up to 90 credit hours into their degree program
  • 86% of Regent students receive some form of financial aid
  • Online Courses
3 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!