TestMagic Forums - View Single Post - How Much Do Academic Economists Really Make?

VA_LAC · 09-04-2007, 01:28 AM

From Economist - Wikipedia, the free encyclopedia

"According to the United States Department of Labor there were 13,000 economists in the US with a median salary of roughly $72,780 with the top ten percent earning more than US$ 129,170 annually.[4] About 400 colleges and universities grant about 900 new Ph.D.s in economics each year. The type of academic degree, Bachelors, Masters or Doctorate degree had significant influence on an individuals job outlook and salary. While the overall expected job growth for economists remains below nation average, the demand for those with a Doctorate, especially those employed in the corporate sector, is expected to increase at a considerably faster pace.[5] Incomes were highest for those in the private sector, followed by the federal government with academia and high schools paying the lowest incomes. Median salaries ranged from $45,000 for those with a Bachelor to $85,000 for those with a Ph.D. in economics. A recent and continuous study by PayScale.com showed Economic consultants with a Ph.D. had the overall highest median income for any group making $116,250, the median salaries for an assistant professor was $63,500, for an associate professor it lay at $67,000 and $85,000 for a full professor. The overall median income for doctorates in academia was $75,000 compared to $125,000 in consulting and $87,000 in banking."

The median would be for an experienced economist.

09-04-2007, 01:28 AM	#14 (permalink)
VA_LAC Trying to make mom and pop proud Join Date: May 2007 Posts: 27	From Economist - Wikipedia, the free encyclopedia "According to the United States Department of Labor there were 13,000 economists in the US with a median salary of roughly $72,780 with the top ten percent earning more than US$ 129,170 annually.[4] About 400 colleges and universities grant about 900 new Ph.D.s in economics each year. The type of academic degree, Bachelors, Masters or Doctorate degree had significant influence on an individuals job outlook and salary. While the overall expected job growth for economists remains below nation average, the demand for those with a Doctorate, especially those employed in the corporate sector, is expected to increase at a considerably faster pace.[5] Incomes were highest for those in the private sector, followed by the federal government with academia and high schools paying the lowest incomes. Median salaries ranged from $45,000 for those with a Bachelor to $85,000 for those with a Ph.D. in economics. A recent and continuous study by PayScale.com showed Economic consultants with a Ph.D. had the overall highest median income for any group making $116,250, the median salaries for an assistant professor was $63,500, for an associate professor it lay at $67,000 and $85,000 for a full professor. The overall median income for doctorates in academia was $75,000 compared to $125,000 in consulting and $87,000 in banking." The median would be for an experienced economist.