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Average economics major salary
Average economics major salary
Updated September 14, 2023
$71,876
What is the average economics major salary in the US?
The national average salary for an economics major in the U.S. is $71,876 annually or $34.56 hourly.The top 10 percent make over $144,000 per year, while the bottom 10 percent make under $35,000 per year.The most abundant employment opportunities for economics majors are in finance companies and technology companies.The top 5 states when it comes to salaries for economics major graduates are New York, New Jersey, Connecticut, California, and Massachusetts.
Best paying cities
$84,368
$84,076
$81,571
Average economics salary by company
If you are an economics major graduate, you can expect good job security. However, keep in mind that some industries pay better than others.finance companies and technology companies have the most job opportunities for economics major graduates.Meta and Google are the highest paying companies.Companies like McKinsey & Company Inc and Apple also report very competitive wages for economics major graduates.
Average economics major salary by city
Across America, economics major graduates make on average $71,876 annually or $34.56 hourly.The city with the highest salaries for economics major graduates is San Francisco, CA at $84,368 per year.The average entry-level salary in San Francisco, CA is $42,000.Other cities that offer high paying job opportunities for economics majors are New York, NY, Jersey City, NJ, Hartford, CT, Washington, DC, Boston, MA, and Des Moines, WA.The top 5 states with the highest reported salaries for economics major graduates are New York, New Jersey, Connecticut, California, and Massachusetts.Utah, Wyoming, and Montana have the lowest wages for economics major graduates.
Average salary by location
| Rank | City | Average economics salary | Salary range |
|---|---|---|---|
| 1 | San Francisco, CA | $84,368 | $44k $120k |
| 2 | New York, NY | $84,076 | $44k $120k |
| 3 | Jersey City, NJ | $81,571 | $44k $120k |
| 4 | Hartford, CT | $80,425 | $44k $120k |
| 5 | Washington, DC | $80,322 | $44k $120k |
| 6 | Boston, MA | $79,149 | $44k $120k |
| 7 | Des Moines, WA | $76,224 | $44k $120k |
| 8 | Providence, RI | $75,288 | $44k $120k |
| 9 | Arlington, VA | $74,209 | $44k $120k |
| 10 | Baltimore, MD | $73,519 | $44k $120k |
| 11 | Philadelphia, PA | $72,549 | $44k $120k |
| 12 | Albany, OR | $69,317 | $44k $120k |
| 13 | Chicago, IL | $69,061 | $44k $120k |
| 14 | Raleigh, NC | $68,348 | $44k $120k |
| 15 | Portland, ME | $67,629 | $44k $120k |
| 16 | San Antonio, TX | $66,556 | $44k $120k |
| 17 | Saint Paul, MN | $66,411 | $44k $120k |
| 18 | Columbus, OH | $65,216 | $44k $120k |
| 19 | Phoenix, AZ | $64,763 | $44k $120k |
| 20 | Madison, WI | $64,671 | $44k $120k |
Average economics major salary by state
The darker areas on the map show where economics majors earn the highest salaries across all 50 states.
Average salary
Economics major average salary by state
| State | Average economics major salary | Average hourly rate |
|---|---|---|
| New York | $83,892 | $40.33 |
| New Jersey | $81,400 | $39.13 |
| Connecticut | $80,505 | $38.70 |
| California | $79,803 | $38.37 |
| Massachusetts | $79,200 | $38.08 |
| Washington | $75,537 | $36.32 |
| Rhode Island | $75,362 | $36.23 |
| Delaware | $73,377 | $35.28 |
| Maryland | $73,266 | $35.22 |
| Virginia | $72,999 | $35.10 |
| Pennsylvania | $72,261 | $34.74 |
| New Hampshire | $71,578 | $34.41 |
| Michigan | $69,157 | $33.25 |
| Oregon | $69,091 | $33.22 |
| Illinois | $68,946 | $33.15 |
| Nevada | $67,972 | $32.68 |
| North Carolina | $67,364 | $32.39 |
| Maine | $67,156 | $32.29 |
| Vermont | $67,058 | $32.24 |
| Minnesota | $66,479 | $31.96 |
| Texas | $65,910 | $31.69 |
| Ohio | $65,751 | $31.61 |
| Wisconsin | $65,377 | $31.43 |
| Arizona | $64,755 | $31.13 |
| Alaska | $64,692 | $31.10 |
| Colorado | $63,920 | $30.73 |
| Georgia | $63,248 | $30.41 |
| West Virginia | $62,719 | $30.15 |
| Indiana | $61,508 | $29.57 |
| Hawaii | $60,696 | $29.18 |
| New Mexico | $60,606 | $29.14 |
| North Dakota | $60,372 | $29.02 |
| Missouri | $60,203 | $28.94 |
| South Carolina | $60,164 | $28.93 |
| Louisiana | $60,114 | $28.90 |
| Kentucky | $60,094 | $28.89 |
| South Dakota | $59,584 | $28.65 |
| Tennessee | $59,521 | $28.62 |
| Idaho | $59,353 | $28.54 |
| Iowa | $59,193 | $28.46 |
| Florida | $59,046 | $28.39 |
| Alabama | $59,025 | $28.38 |
| Nebraska | $58,366 | $28.06 |
| Kansas | $58,182 | $27.97 |
| Utah | $57,867 | $27.82 |
| Wyoming | $57,644 | $27.71 |
| Montana | $57,365 | $27.58 |
| Arkansas | $55,631 | $26.75 |
| Mississippi | $55,485 | $26.68 |
| Oklahoma | $55,436 | $26.65 |
Average economics major salary by industry
Wages for economics major graduates can differ based on the industry they work in.By looking at our data, we can see that finance companies, technology companies, and professional companies pay economics major graduates well.finance companies pay economics major graduates an average salary of $84,503, technology companies pay $84,227, and professional companies come in at $66,266.At $43,378, the average salary for economics majors in the government industry is lower than other industries.
Average salary by industry
| Rank | Industry | Average economics major salary | Range |
|---|---|---|---|
| 1 | Finance | $84,503 | $32k $119k |
| 2 | Technology | $84,227 | $32k $119k |
| 3 | Professional | $66,266 | $32k $119k |
| 4 | Manufacturing | $62,943 | $32k $119k |
| 5 | Media | $58,012 | $32k $119k |
| 6 | Telecommunication | $54,259 | $32k $119k |
| 7 | Health Care | $50,719 | $32k $119k |
| 8 | Retail | $50,088 | $32k $119k |
| 9 | Education | $45,074 | $32k $119k |
| 10 | Government | $43,378 | $32k $119k |
Salary history for economics major graduates
This data shows the national average salary between 2011-2020 among Economics major graduates.
Economics major salary by experience level
Average salary by experience level salaries by experience level
The salary for an economics major graduate can range from $42,119 to $131,475 depending on the amount of work experience that the person has. Data on how experience level affects salary is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment.
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level average salary by experience level | $42,100 | $20.25 |
| Mid-level average salary by experience level | $61,600 | $29.63 |
| Senior-level average salary by experience level | $131,000 | $63.21 |
Salaries for related majors
| Rank | Major | Average salary | Range |
|---|---|---|---|
| 1 | International Relations | $60,634 | $28k $85k |
| 2 | Geography | $60,412 | $28k $85k |
| 3 | Sociology And Anthropology | $57,070 | $28k $85k |
| 4 | Political Science | $52,859 | $28k $85k |
| 5 | Urban Studies | $49,227 | $28k $85k |
| 6 | Anthropology | $46,800 | $28k $85k |
| 7 | Criminology | $46,597 | $28k $85k |
| 8 | Social Sciences | $42,879 | $28k $85k |
| 9 | Sociology | $40,376 | $28k $85k |