Top Skills for This Career
BLS identifies these as the three highest-rated skills for this detailed occupation. TrustInEd adds the plain-language explanations so visitors understand what each skill means.
Understanding written information and communicating ideas clearly in writing.
Using numbers, measurements, formulas, quantitative reasoning, and mathematical concepts.
Examining information carefully, recognizing patterns, and using evidence to reach sound conclusions.
How Do You Prepare for This Career?
BLS describes the typical preparation for this occupation. Requirements can vary by employer, state, licensing rules and individual circumstances.
How to Become One
Economists typically need at least a master’s degree to enter the occupation. However, some economists—primarily in government—qualify for entry-level positions with a bachelor’s degree. Others need a Ph.D. PayThe median annual wage for economists was $124,720 in May 2025. Job Outlook Employment of economists is projected to grow 5 percent from 2025 to 2035, faster than the average for all occupations. About 1,100 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. State & Area Data Explore resources for employment and wages by state and area for economists. Similar Occupations Compare the job duties, education, job growth, and pay of economists with similar occupations. More Information, Including Links to O*NET Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Your Next Step
Compare colleges and education options that can support the typical entry-level education for this career.
Pay
The median annual wage for economists was $124,720 in May 2025. Job Outlook Employment of economists is projected to grow 5 percent from 2025 to 2035, faster than the average for all occupations. About 1,100 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. State & Area Data Explore resources for employment and wages by state and area for economists. Similar Occupations Compare the job duties, education, job growth, and pay of economists with similar occupations. More Information, Including Links to O*NET Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Job Outlook
Employment of economists is projected to grow 5 percent from 2025 to 2035, faster than the average for all occupations. About 1,100 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. State & Area Data Explore resources for employment and wages by state and area for economists. Similar Occupations Compare the job duties, education, job growth, and pay of economists with similar occupations. More Information, Including Links to O*NET Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
What They Do
Economists conduct research, prepare reports, and evaluate issues related to monetary and fiscal policy. They also may collect and analyze statistical data.
Work Environment
Economists typically work in an office setting, either independently or collaborating with a variety of other workers. Most economists work full time, and some work more than 40 hours per week.
How to Become an Economist
Economists typically need at least a master’s degree to enter the occupation. However, some economists—primarily in government—qualify for entry-level positions with a bachelor’s degree. Others need a Ph.D.
Pay
The median annual wage for economists was $124,720 in May 2025.
Job Outlook
Employment of economists is projected to grow 5 percent from 2025 to 2035, faster than the average for all occupations.
About 1,100 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
State & Area Data
Explore resources for employment and wages by state and area for economists.
Similar Occupations
Compare the job duties, education, job growth, and pay of economists with similar occupations.
More Information, Including Links to O*NET
Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Work Environment
Economists typically work in an office setting, either independently or collaborating with a variety of other workers. Most economists work full time, and some work more than 40 hours per week.
How to Become an Economist
Economists typically need at least a master’s degree to enter the occupation. However, some economists—primarily in government—qualify for entry-level positions with a bachelor’s degree. Others need a Ph.D.
Pay
The median annual wage for economists was $124,720 in May 2025.
Job Outlook
Employment of economists is projected to grow 5 percent from 2025 to 2035, faster than the average for all occupations.
About 1,100 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
State & Area Data
Explore resources for employment and wages by state and area for economists.
Similar Occupations
Compare the job duties, education, job growth, and pay of economists with similar occupations.
More Information, Including Links to O*NET
Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
State & Area Data
Explore resources for employment and wages by state and area for economists.
Similar Occupations
Compare the job duties, education, job growth, and pay of economists with similar occupations.
More Information, Including Links to O*NET
Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
More Information
Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Take the Next Step
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Start with ED →Career data and occupational profile text are sourced from the U.S. Bureau of Labor Statistics Occupational Outlook Handbook and Employment Projections program. Education requirements are typical entry-level requirements and may vary by employer, state, occupation or individual circumstance. View the official BLS profile.