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Economists

Typical education: Master's degreeLower pressure

What they do

Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

Kinds of work

  • Investigative: Science, research, figuring out how things work and solving complex problems.
  • Conventional: Organizing information, following clear procedures and working with data and details.
  • Enterprising: Leading, persuading, selling and starting new projects or businesses.

Lower pressure: How much pressure workers in this job report: deadlines, conflict, dealing with upset people, the cost of mistakes, responsibility for others' safety, competition and long hours. It varies a lot from one employer to the next. Source: U.S. Department of Labor worker surveys.

Pay, tasks and more

Salary

United States $124,720 Median per year · $59.96/hr Most earn $67,360–$238,060

BLS Occupational Employment and Wage Statistics, 2025.

What you might do

  • Explain economic impact of policies to the public.
  • Review documents written by others.
  • Teach theories, principles, and methods of economics.
  • Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.
  • Supervise research projects and students' study projects.
  • Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.

Job outlook

United States
5% more jobs by 2035, faster than average · about 1,100 openings a year

Openings include new jobs and jobs left by workers who retire or change careers. Projections: U.S. Bureau of Labor Statistics. "Bright Outlook": U.S. Department of Labor.

Where they work

  • Federal government, excluding postal service26.1%
  • Management, scientific, and technical consulting services21.5%
  • State government, excluding education and hospitals14.4%
  • Local government, excluding education and hospitals8.7%
  • Research and development in the social sciences and humanities5.1%

Share of all workers in this career. Source: U.S. Bureau of Labor Statistics, National Employment Matrix.

Experience before this job: 1 to 2 years

Career path

How people usually get into this career, from school to their first job and beyond.

Typical education: Master's degreeExperience before this job: 1 to 2 years

Economist is not usually an entry-level job. Most people earn a bachelor's degree, work 1-2 years in a related role, and then complete a master's degree before becoming economists, so the full path often takes about 7-8 years after high school.

  1. Bachelor's degree in economics or a related field

    4 years

    You build the foundation in economic theory, statistics, and math, and you can start looking for research or data work in your final year.

  2. Data Analyst or Research Assistant

    1-2 years

    You learn to clean data, run statistical analyses, and write up findings, which is the core work economists do and what master's programs look for.

  3. Master's degree in economics

    2 years

    You go deep on econometrics and policy analysis, and you usually complete a research project that shows you can do independent economic work.

  4. Economist

    Ongoing

    You conduct research, prepare reports, and advise on economic problems and policies, using the data and modeling skills you built in school and your earlier job.

Where it can lead

  1. Senior Economist

    3-5 years of experience first

    You take on bigger research projects, lead analyses, and may manage junior staff or present findings to decision-makers.

  2. Investment Fund Manager

    8-10 years of experience first

    You use economic analysis to make investment decisions and manage portfolios, which usually requires a strong track record and a master's degree.

What you can do now

Ideas for high school and college students.

In high school

  • Take the highest math you can, including statisticsStrong math skills are the base for economics, and statistics is directly used in economic research.
  • Take an economics or social studies courseA class on economics, government, or personal finance shows you whether you enjoy thinking about how markets and policies work.
  • Join a debate, Model UN, or similar clubThese groups build the research and argument skills you'll need to explain economic findings clearly.
  • Get a part-time job that involves money or numbersWorking a cash register, tutoring, or keeping track of store inventory helps you practice handling data and making sense of numbers.
  • Learn basic spreadsheet skillsUsing spreadsheets to sort, graph, and compare numbers is a practical first step toward the data work economists do.

In college

  • Major in economics, or pair a related major with economicsAn economics major gives you the theory and research methods that graduate programs expect to see.
  • Take statistics, econometrics, and calculusThese courses build the quantitative skills used every day in economic research and are what master's programs look for.
  • Learn a statistical programming toolSkills in R, Python, or Stata make you competitive for research assistant and data analyst jobs after graduation.
  • Seek a research assistant position with a professorHelping a professor collect or analyze data gives you real research experience and a reference for graduate school.
  • Apply for internships at banks, government agencies, or research groupsInternships show you how economists use data in real settings and help you decide which area interests you most.

Tips for getting started

  • Take as much math and statistics as you can, since econometrics and data work sit at the heart of this career.
  • Get experience with spreadsheets or a statistics tool like R, Python, or Stata, because employers look for these skills early.
  • Start reading economic news and reports, and practice explaining what the numbers mean in your own words.

Related jobs that often lead here

Related jobs a step up

Education, experience and related careers: U.S. Department of Labor. The step-by-step path, where it can lead and what you can do now were written by AI as typical examples; many people take other ways.

College majors that lead here

Majors: U.S. Department of Education and BLS (CIP–SOC crosswalk). Earnings and debt: College Scorecard, typical across U.S. colleges.

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