Economic Analyst Careers

An economic analyst may work for governmental agencies, investment firms, and other business organizations. Their job is to analyze economic data like demand and supply, the GDP, to help employers make quality decisions.

Economic analysts make forecasts based on data from multiple sources, conduct research, and run simulations. From there, they develop models and scenarios, adjust for their probability of occurrence and success, and make recommendations.

As an economic analyst, you may also be responsible for providing data to drive sales and marketing efforts in your organization. You'll require skills like analytical thinking, problem-solving, programming, and an acute understanding of statistical software.

You'll also require a bachelor's degree in economics, finance, statistics, and related fields. Employers favor advanced degrees and prior work experience when hiring to fill this role.

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 $33.24 an hour? That's $69,148 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 computer skills, math skills and detail oriented.

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 71.2% of economic analysts have a bachelor's degree. In terms of higher education levels, we found that 23.4% of economic analysts have master's degrees. Even though most economic analysts have a college degree, it's impossible 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 bachelor's degree degrees or master's degree degrees. Other degrees that we often see on economic analyst resumes include doctoral degree degrees or associate degree 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
$69,148
Average Salary
Job Growth Rate
6%
Job Growth Rate
Job Openings
61,360
Job Openings

Economic Analyst Career Paths

Top Careers Before Economic Analyst

Top Careers After Economic Analyst

Economic Analyst Jobs You Might Like

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Average Salary for an Economic Analyst

Economic Analysts in America make an average salary of $69,148 per year or $33 per hour. The top 10 percent makes over $108,000 per year, while the bottom 10 percent under $44,000 per year.
Average Salary
$69,148
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Best Paying Cities For Economic Analysts

City
ascdesc
Average Salarydesc
Washington, DC
Salary Range67k - 117k$89k$88,844
New York, NY
Salary Range60k - 112k$83k$82,916
Parker, CO
Salary Range62k - 106k$82k$81,782
Seattle, WA
Salary Range57k - 99k$76k$75,837
San Francisco, CA
Salary Range56k - 101k$75k$75,405
Minneapolis, MN
Salary Range55k - 96k$74k$73,576
Austin, TX
Salary Range53k - 95k$72k$71,902
Reston, VA
Salary Range52k - 91k$70k$69,705
Chicago, IL
Salary Range48k - 83k$63k$63,483
Winston-Salem, NC
Salary Range46k - 80k$62k$61,533
Atlanta, GA
Salary Range45k - 80k$61k$60,525
Las Vegas, NV
Salary Range43k - 77k$58k$58,202
Cambridge, MA
Salary Range42k - 79k$58k$58,071
Ann Arbor, MI
Salary Range41k - 74k$56k$55,850
Doral, FL
Salary Range38k - 79k$55k$55,251
San Juan, PR
Salary Range26k - 50k$37k$36,559
$26k
$117k

Recently Added Salaries

CompanyascdescCompanyascdescStart DateascdescSalaryascdesc
Dshs Altsa Regulatory Economic Analyst & Background Checks Policy Program Manager
Washington State
08/24/2021
$67,00008/24/2021
Senior Healthcare Economics Analyst-Telecommute
Unitedhealth Group
08/05/2021
$53,30008/05/2021
Healthcare Economics Analyst-Telecommute
Unitedhealth Group
08/05/2021
$53,30008/05/2021
Healthcare Economics Analyst-Telecommute
Unitedhealth Group
08/01/2021
$53,30008/01/2021
Senior Healthcare Economics Analyst-Telecommute
Unitedhealth Group
07/11/2021
$53,30007/11/2021
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Economic Analyst Demographics

Gender

male

60.1 %

female

32.6 %

unknown

7.4 %

Ethnicity

White

70.4 %

Asian

12.9 %

Hispanic or Latino

8.1 %

Foreign Languages Spoken

Spanish

30.9 %

French

15.5 %

Chinese

8.2 %
Show More Economic Analyst Demographics

Economic Analyst Education

Majors

Economics
40.4 %
Business
16.3 %
Finance
11.1 %

Degrees

Bachelors

71.2 %

Masters

23.4 %

Doctorate

2.1 %

Top Colleges for Economic Analysts

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

5. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

6. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

7. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

8. University of Notre Dame

Notre Dame, IN • Private

In-State Tuition
$53,391
Enrollment
8,568

9. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451

10. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083
Show More Economic Analyst Education Requirements

Online Courses For Economic Analyst That You May Like

Economics in 10 Principles
udemy
4.2
(377)

Learn how to apply 10 principles of economics to every day life decisions whether its professional or personal...

Introduction to Economic Theories
coursera

Wondering why economists have not predicted serious financial crises? Shocked by economic assumptions of human behavior as self-centered and focusing only on what can be measured? Asking yourself if there are no sensible economic alternatives to free markets? Then you are at the right place to learn economics! This is the first online course that teaches economics from a pluralist perspective. Economic pluralism means that a plurality of theoretical and methodological viewpoints is regarded as v...

Local Economic Development
coursera

Welcome to this MOOC on Local Economic Development (LED). Local economic development refers to the processes by which local governments, businesses, and civil society groups get together to raise income sustainably and improve their lives in a well-defined area. It's about creating jobs, securing livelihoods, improving infrastructure and managing local resources. What do I learn? We will be dealing with questions such as the following. Why does economic development take place in some areas of th...

Show More Economic Analyst Courses
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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, 14.7% of economic analysts listed sql on their resume, but soft skills such as computer skills and math 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 Alaska, Connecticut, New York, and Colorado. Economic analysts make the most in Alaska with an average salary of $125,999. Whereas in Connecticut and New York, they would average $82,902 and $82,185, respectively. While economic analysts would only make an average of $81,599 in Colorado, 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. District of Columbia

Total Economic Analyst Jobs:
555
Highest 10% Earn:
$148,000
Location Quotient:
3.46
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. New York

Total Economic Analyst Jobs:
2,108
Highest 10% Earn:
$146,000
Location Quotient:
1.72
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. Alaska

Total Economic Analyst Jobs:
80
Highest 10% Earn:
$204,000
Location Quotient:
1
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
Full List Of Best States For Economic Analysts

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Economic Analyst Videos

Updated August 18, 2021