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A bachelor's degree in economics is enough for an entry-level position, but high-earning jobs in competitive industries may require a master's degree in finance or business administration. ing to the BLS, average salaries vary widely depending on the industry.
The role of an economist includes analyzing data that includes economic indicators, such as gross domestic product and consumer confidence surveys. Economists might research the distribution, accessibility, and reach of goods and services, in order to identify potential trends or make economic forecasts.
The national average salary for economists is $101,813 per year , but the salary you may earn depends on factors like your education, experience level and employer. Some geographical areas also pay economists more than others. Here are the average salaries for an economist by state, starting with the highest.
Last updated on September 6, 20231, the BLS reports that the number of positions for economists from 2022 through 2032 is expected to grow at a rate of 6% over the decade. This is roughly twice as fast as the economy-wide average; the BLS states that ?The average growth rate for all occupations is 3 percent?.
For others, it's an opportunity to jump into numbers as an exciting career field. Working in economics means diving into data, trends, and policies to offer smart insights and suggestions. Economists can focus on different areas and find jobs in various places like government, schools, companies, and research groups.
There is strong demand for highly numerate graduates throughout the global labor market, and the widely transferable analytical and problem-solving skills developed by economics students means that careers in economics are extremely wide ranging and diverse.
Economists typically do the following: Research economic issues related to education, the labor force, international trade, and other topics. Conduct surveys and collect data. Analyze data using mathematical models, statistical tools, and other software. Interpret and forecast trends, such as of financial markets.