Working as an Economic Analyst

There is more than meets the eye when it comes to being an Economic Analyst. For example, did you know that they make an average of $29.33 an hour? That's $60,997 a year!

Between 2018 and 2028, the career is expected to grow 6% and produce 20,300 job opportunities across the U.S.

What Does an Economic Analyst Do

There are certain skills that many Economic Analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Analytical skills, Communication skills and Computer skills.

When it comes to the most important skills required to be an Economic Analyst, we found that a lot of resumes listed 21.8% of Economic Analysts included Financial Statements, while 7.0% of resumes included Policy Analysis, and 6.2% of resumes included Economic Analysis. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the Economic Analyst job title. But what industry to start with? Most Economic Analysts actually find jobs in the Health Care and Finance industries.

Learn More About What an Economic Analyst Does

How To Become an Economic Analyst

If you're interested in becoming an Economic Analyst, one of the first things to consider is how much education you need. We've determined that 34.3% of Economic Analysts have a bachelor's degree. In terms of higher education levels, we found that 47.9% of Economic Analysts have master's degrees. Even though most Economic Analysts have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become an Economic Analyst. When we researched the most common majors for an Economic Analyst, we found that they most commonly earn Economics degrees or Business degrees. Other degrees that we often see on Economic Analyst resumes include Finance degrees or Accounting degrees.

You may find that experience in other jobs will help you become an Economic Analyst. In fact, many Economic Analyst jobs require experience in a role such as Internship. Meanwhile, many Economic Analysts also have previous career experience in roles such as Research Assistant or Finance Analyst.

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Average Salary$60,997
Job Growth Rate6%

Economic Analyst Jobs

Economic Analyst Career Paths

Top Careers Before Economic Analyst
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Top Careers After Economic Analyst
Manager7.0 %
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Average Salary for an Economic Analyst

Economic Analysts in America make an average salary of $60,997 per year or $29 per hour. The top 10 percent makes over $85,000 per year, while the bottom 10 percent under $43,000 per year.
Average Salary
$60,997

Best Paying Cities

City
Average Salary

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Economic Analyst
Economic Analyst
Florida Department of Transportation
Florida Department of Transportation
06/17/2020
06/17/2020
$45,00006/17/2020
$45,000
Economic Analyst
Economic Analyst
State of North Carolina
State of North Carolina
05/30/2020
05/30/2020
$42,78005/30/2020
$42,780
Economic Analyst: Olympia
Economic Analyst: Olympia
Washington State
Washington State
03/19/2020
03/19/2020
$52,53603/19/2020
$52,536
Economic Analyst III
Economic Analyst III
State of Illinois
State of Illinois
03/06/2020
03/06/2020
$62,05203/06/2020
$62,052
Economic Analyst
Economic Analyst
Virginia State Government
Virginia State Government
03/05/2020
03/05/2020
$62,79003/05/2020
$62,790
See More Recent Salaries

Economic Analyst Demographics

Gender

Male

60.1 %

Female

32.6 %

Unknown

7.4 %
Ethnicity

White

52.1 %

Asian

16.3 %

Hispanic or Latino

15.6 %
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Foreign Languages Spoken

Spanish

30.9 %

French

15.5 %

Chinese

8.2 %
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Entry Level Jobs For Becoming An Economic Analyst

Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For an Economic Analyst

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 21.8% of Economic Analysts listed Financial Statements on their resume, but soft skills such as Analytical skills and Communication skills are important as well.

Best States For an Economic Analyst

Some places are better than others when it comes to starting a career as an Economic Analyst. The best states for people in this position are New York, West Virginia, New Jersey, and California. Economic Analysts make the most in New York with an average salary of $83,789. Whereas in West Virginia and New Jersey, they would average $75,329 and $75,212, respectively. While Economic Analysts would only make an average of $71,434 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Economic Analyst Jobs:
1,965
Highest 10% Earn:
$141,000
Location Quotient:
1.28
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. District of Columbia

Total Economic Analyst Jobs:
923
Highest 10% Earn:
$127,000
Location Quotient:
4.03
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. New Jersey

Total Economic Analyst Jobs:
927
Highest 10% Earn:
$125,000
Location Quotient:
1.03
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Top Economic Analyst Employers

1. UnitedHealth Group
3.9
Avg. Salary: 
$63,446
Economic Analysts Hired: 
16+
2. Lockheed Martin
4.9
Avg. Salary: 
$78,520
Economic Analysts Hired: 
15+
3. Federal Reserve Bank of New York
4.3
Avg. Salary: 
$92,385
Economic Analysts Hired: 
11+
4. Baker McKenzie
5.0
Avg. Salary: 
$132,811
Economic Analysts Hired: 
8+
5. Aetna
4.8
Avg. Salary: 
$65,716
Economic Analysts Hired: 
7+
6. ABF Freight System
4.8
Avg. Salary: 
$56,416
Economic Analysts Hired: 
6+

Economic Analyst Videos

Recently Added Economic Analyst Jobs

Updated August 27, 2020