Economists: Salary, Job Outlook & How to Become One (2026 Parent Guide)
Life, Physical, and Social Science · SOC 19-3011 · O*NET 19-3011.00
Economists fall under the Life, Physical, and Social Science category in the U.S. occupational classification. Economists earn a median salary of $115,440 per year, ranking in the top 7% of all U.S. occupations. The Bureau of Labor Statistics projects +1.2% job growth through 2034, projected to grow slower than the US average. Entry into this field typically requires a bachelor's degree, with specific licensing or certification depending on the state and employer. For parents whose teenager is exploring this path, the most actionable step is mapping the education requirements to specific colleges and majors before junior year — not waiting until application season.
What do economists earn?
The median annual wage for economists is $115,440. That puts economists at #60 on the BLS ranked list of all U.S. occupations by median pay. Pay at this level is well above the U.S. median household income, signaling sustained demand and meaningful credential requirements. Actual pay varies meaningfully by state, employer type, and years of experience — entry-level salaries are typically 30–40% below the median, while top-decile earners often exceed it by 50% or more.
Is economists a growing career?
The 10-year outlook for economists is +1.2%, projected to grow slower than the US average. Employment is projected to move from approximately 17K positions in 2024 to 17K in 2034, a net change of 0K. Flat growth typically reflects a mature, stable field. Most openings will come from retirements rather than new positions, which can favor candidates with strong networks and willingness to relocate.
What education does my child need to become economist?
The standard path into economists begins with a bachelor's degree in a related field, followed by entry-level experience or internships during college. For parents helping a teen prepare, the highest-leverage step before junior year is identifying colleges and programs that feed reliably into this occupation — Solyo's college search lets parents filter by major and admissions data side by side.
Related careers your child might also consider
How parents help teens explore careers like this
Solyo helps parents map a teen's interests to specific careers, then back to the colleges and majors that lead there. Salary, outlook, and education data come from BLS and O*NET — the same sources high school counselors use — but presented for the parent's planning lens, not the student's exploration view.
Common questions parents ask about economists
What is the median salary for economists?
The median annual salary for economists is $115,440 according to the latest Bureau of Labor Statistics data.
Is economists a growing career?
BLS projects +1.2% growth for economists from 2024 through 2034, which is flat growth projected to grow slower than the US average.
What education does my child need to become economist?
The typical entry path requires a bachelor's degree, plus any state licensure or certification specific to the role. Programs that align well with this career can be filtered inside Solyo's college search.
What careers are similar to economists?
Related occupations within the Life, Physical, and Social Science category share education paths and skill profiles, so they're a useful starting set when a teen is uncertain. The "Related careers" section below lists nearby options.
Salary data sourced from the U.S. Bureau of Labor Statistics Occupational Employment Statistics program. Skills, tasks, and education distribution from the O*NET database. Job outlook from the BLS Employment Projections 2024–2034 release.