Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

How Much Can Economics Graduates Earn?

Higher Education Articles November 1, 2012

How much salary can a college graduate earn depends on several factors that includes the company, location, job title, and degree level. The field of study can influence the amount you earn. For instance, the wage levels of a Bachelor of Arts in Economics and a Bachelor of Science are likely to be different.

In 2008, there were 14,600 economists employed in the United States with over fifty percent working in governmental jobs. The average annual salary drawn by economist graduates in May 2012 was $96,320. In March 2012, the average annual salary drawn by economists working in federal government jobs were in the region of $108,810 (source: www.bls.org).

An economics major can build a career as a regional sales manager, financial advisor, statistician, bank manager, sales director, securities trader, or financial analyst. The wage level of these professionals is influenced primarily by the education level and location.

How Much Can You Earn with a Bachelor Degree in Economics

While a bachelor degree will likely attract a relatively lower salary, income levels differ depending on your college degrees. For instance, in 2012, an individual with a Bachelor of Arts in Economics could earn between $34,800 and $137,000 per annum, on average. Compare these figures with the wages earned by those with a Bachelor of Science degree, the earnings average are around $42,566 to $80,984.

Bachelor of Arts degree holders earned differently depending on the position they occupied. For instance, while a financial controller with a Bachelor of Arts in Economics earned $86,800, a financial analyst with the same degree took home $54,300, a credit analyst with the same qualifications earned $45,200, and a bank manager earned $58,100.

Compare the above figures with those who received a Bachelor of Science degree and you would see a slight decline in earnings. A financial controller with a Bachelor of Science in Economics earned $80,984, a financial analyst with the same degree took home $51,057, a credit analyst with the same qualifications earned $42,566, and a bank manager earned $45,198.

Salary Differs by Location for Bachelor Degree Holders

According to PayScale.com, the location of an employee will make a difference on their salary. Below are a list of most popular cities and salaries earned for graduates with an economics degree based on PayScale.com’s 2012 data.

Location influences the salary earned. For instance, in 2012 a Bachelor of Arts economist in Chicago took home $60,746, economist in Washington, D.C. earned $61,085, and economist in Boston earned $61,342. The respective figures for Bachelor of Arts degree holders in Los Angeles, Seattle, New York and San Francisco were $64,494, $67,830, $68,210 and $79,499.

Similarly, a Bachelor of Science in economics will earn $54,239, $55,495, $58,838, $60,521, $60,689, $61,269 or $64,123, depending on whether they were in Houston, Dallas, Chicago, San Francisco, Washington, D.C., Los Angeles, or New York, respectively.

A master degree holder in economics are usually employed as a corporate economist or a general economist. In 2012, a general economist earned an average annual salary of $52,072 while the average annual salary for a corporate economist was $55,000.

As in the case of bachelor degree holders, master degree holders’ salaries tend to vary according to the location. The annual median wage figures for Boston, Dallas, Washington, Chicago, New York, Los Angeles and San Francisco in 2012 were $64,199, $69,500, $72,644, $76,125, $78,108, $80,000 and $82,266 respectively.

In 2012, an individual holding a doctorate degree in economics earned an average annual salary between $71,216 and $116,288. The average annual salary varied according to occupation. Those employed as an assistant professor earned $71,216 while associate professors took home $73,000; economists earned $92,636 while corporate economists drew $97,684; statisticians earned $105,000 while professors took home $116,288.

As in the case of bachelor and master degree holders, salaries of doctorate degree holders tend to vary according to the location. The annual median wage figures for doctorate degree holders in Los Angeles, Boston, Houston, San Francisco, New York, Washington, and Chicago in 2012 were $69,400, $78,108, $80,131, $93,191, $99,157, $111,649 and $125,000 respectively.

(Statistics source: PayScale.com)

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
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
  • 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
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!