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Economics professor salary
Average economics professor salary
$104,547
Average Economics Professor Salary
The average salary for an Economics Professor stands at approximately $104,547 per year, or $50 per hour. This role typically requires a Ph.D. in economics or a related field, along with a strong commitment to teaching and research.
Where Can Economics Professors Earn More?
Geographic location plays a significant role in salary variation. States like California and New York often provide higher salaries due to the cost of living and demand for qualified educators. Further, professors with more years of experience generally command higher pay. According to salary estimates, the economic landscape in academia continues to evolve, making it essential for current and prospective professors to stay informed about trends and opportunities in their field.
Career Advancement
For those looking to enhance their earning potential, pursuing administrative roles, engaging in funded research, or publishing in reputable journals can be beneficial. Additionally, networking within academic circles can lead to prestigious positions that offer greater compensation.
- Consider geographical mobility for higher salaries.
- Continuing education and specialization can lead to career advancement.
- Engage with academic communities for networking opportunities.
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Where can an Economics Professor earn more?
Economics professor salary estimates from across the web
Average economics professor salary by state
The average economics professor salary in Rhode Island, Delaware, and Nevada are the highest in the U.S. The lowest average economics professor salary states are Texas, Wyoming, and New Mexico.
- State view
- County view
Highest paying states for economics professors
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $127,582 | $61.34 |
| 2 | Vermont | $120,041 | $57.71 |
| 3 | Rhode Island | $144,150 | $69.30 |
| 4 | District of Columbia | $135,716 | $65.25 |
| 5 | Mississippi | $108,863 | $52.34 |
| 6 | Delaware | $140,256 | $67.43 |
| 7 | Alaska | $111,492 | $53.60 |
| 8 | Maine | $105,987 | $50.96 |
| 9 | Connecticut | $121,512 | $58.42 |
| 10 | Pennsylvania | $102,854 | $49.45 |
| 11 | Massachusetts | $120,429 | $57.90 |
| 12 | Virginia | $104,610 | $50.29 |
| 13 | West Virginia | $94,387 | $45.38 |
| 14 | Nevada | $128,188 | $61.63 |
| 15 | Illinois | $112,310 | $54.00 |
| 16 | Maryland | $111,100 | $53.41 |
| 17 | Ohio | $99,849 | $48.00 |
| 18 | Oregon | $91,833 | $44.15 |
| 19 | Michigan | $95,452 | $45.89 |
| 20 | Kansas | $90,954 | $43.73 |
| 21 | Washington | $99,414 | $47.80 |
| 22 | New Jersey | $94,686 | $45.52 |
| 23 | Louisiana | $84,084 | $40.42 |
| 24 | Alabama | $84,362 | $40.56 |
| 25 | Arizona | $98,948 | $47.57 |
| 26 | Indiana | $91,931 | $44.20 |
| 27 | California | $102,964 | $49.50 |
| 28 | Wisconsin | $83,566 | $40.18 |
| 29 | North Carolina | $86,527 | $41.60 |
| 30 | Colorado | $83,074 | $39.94 |
| 31 | New Hampshire | $95,218 | $45.78 |
| 32 | Idaho | $91,076 | $43.79 |
| 33 | South Dakota | $78,064 | $37.53 |
| 34 | Tennessee | $80,697 | $38.80 |
| 35 | Montana | $81,844 | $39.35 |
| 36 | South Carolina | $81,628 | $39.24 |
| 37 | Iowa | $78,024 | $37.51 |
| 38 | Nebraska | $76,211 | $36.64 |
| 39 | Utah | $75,990 | $36.53 |
| 40 | North Dakota | $78,887 | $37.93 |
| 41 | Georgia | $81,990 | $39.42 |
| 42 | Texas | $73,064 | $35.13 |
| 43 | Florida | $80,202 | $38.56 |
| 44 | Minnesota | $77,385 | $37.20 |
| 45 | Missouri | $77,954 | $37.48 |
| 46 | Kentucky | $55,730 | $26.79 |
| 47 | Oklahoma | $73,702 | $35.43 |
| 48 | New Mexico | $72,065 | $34.65 |
| 49 | Wyoming | $73,006 | $35.10 |
| 50 | Arkansas | $66,418 | $31.93 |
| 51 | Hawaii | $69,790 | $33.55 |
Highest paying cities for economics professors
The highest-paying cities for economics professors are New York, NY, Chicago, IL, and Visalia, CA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York, NY | $129,292 | $62.16 |
| 2 | Chicago, IL | $113,199 | $54.42 |
| 3 | Visalia, CA | $104,087 | $50.04 |
| 4 | Tucson, AZ | $97,952 | $47.09 |
| 5 | East Lansing, MI | $93,724 | $45.06 |
| 6 | West Palm Beach, FL | $80,248 | $38.58 |
| 7 | Provo, UT | $75,526 | $36.31 |
| 8 | Oklahoma City, OK | $73,959 | $35.56 |
| 9 | Russellville, AR | $66,296 | $31.87 |
Economics professor salary details
An economics professor's salary ranges from $58,000 a year at the 10th percentile to $186,000 at the 90th percentile.
What is an economics professor's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $186,000 | $15,500 | $89 |
| 75th Percentile | $141,000 | $11,750 | $68 |
| Average | $104,547 | $8,712 | $50 |
| 25th Percentile | $77,000 | $6,417 | $37 |
| 10th Percentile | $58,000 | $4,833 | $28 |
Highest paying economics professor jobs
The highest paying types of economics professors are professor, economics department chairperson, and associate professor of economics.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Adjunct Professor | $98,821 | $8,235 | $47.51 | 22,488 |
| Professor | $157,570 | $13,131 | $75.75 | 21,861 |
Top companies hiring economics professors now:
Which companies pay economics professors the most?
Economics professor salaries at University of Arizona Foundation and Yeshiva University are the highest-paying according to our most recent salary estimates. In addition, the average economics professor salary at companies like University of Southern California and Michigan State University are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | University of Arizona Foundation | $121,469 | $58.40 |
| 2 | Yeshiva University | $119,299 | $57.36 |
| 3 | University of Southern California | $114,976 | $55.28 |
| 4 | Michigan State University | $106,732 | $51.31 |
| 5 | Brigham Young University | $99,406 | $47.79 |
| 6 | Loyola Marymount University | $96,991 | $46.63 |
| 7 | Florida State College at Jacksonville | $85,635 | $41.17 |
| 8 | Elon University | $80,249 | $38.58 |
| 9 | Arkansas Tech University | $69,057 | $33.20 |
| 10 | Voorhees College | $63,708 | $30.63 |
| 11 | Oklahoma City Community College | $41,745 | $20.07 |
Wage gap by gender, race and education
Economics professor salary trends
The average economics professor salary has risen by $21,395 over the last ten years. In 2014, the average economics professor earned $83,152 annually, but today, they earn $104,547 a year. That works out to a 12% change in pay for economics professors over the last decade.
Compare economics professor salaries for cities or states with the national average over time.
Average economics professor salary over time
Compare economics professor salaries for individual cities or states with the national average.
Economics professor salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $105,000 | $50.26 | +2.7% |
| 2025 | $102,000 | $48.91 | +2.8% |
| 2024 | $98,900 | $47.55 | +3.1% |
| 2023 | $95,900 | $46.09 | +2.6% |
| 2022 | $93,300 | $44.88 | +1.8% |
Recently added economics professor salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Clarkson University | Open Rank Professor of Economics | Potsdam, NY | 03/25/2025 | $110,000 |
| The Corporation of Mercer University | Professor of Economics/Business Analytics | Macon, GA | 01/30/2025 | $76,920 |
| Vancouverusa | Economics Professor-Continuous Pool | Vancouver, WA | 12/11/2024 | $188,811 |
| Collin County Community College | Professor, Economics 170 Spring 2025 | McKinney, TX | 09/15/2024 | $61,128 |
| Collin County Community College | Professor, Economics 170 Spring 2025 | McKinney, TX | 09/15/2024 | $61,128 |
| Boston College | Professor, Economics Department | Massachusetts | 07/03/2024 | $370,000 |
| Wichita State University | Teaching Professor In Economics | Wichita, KS | 04/30/2024 | $90,000 |
| Colorado Mountain College | Economics Professor | Glenwood Springs, CO | 04/17/2024 | $93,260 |
| Bay Atlantic University (Bau) LLC | Professor of Economics | Washington, DC | 04/10/2024 | $72,500 |
| Collins College | Professor, Economics (Fall 2024) | Allen, TX | 03/28/2024 | $56,697 |
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