FAQ
Economics Professor FAQ
Answers to the most common questions about working as an economics professor.
Straight answers to the questions people ask most about becoming an economics professor: pay, training time, degrees, certifications and whether it’s a good career.
9 questions about economics professors
Do economics professors need a Ph.D.?
Yes, in most cases.
Do they advise governments?
Some do.
Is the pay high?
Economics faculty are among the higher-paid postsecondary teachers.
How much does an economics professor make?
The median annual wage for economics professors was $123,920 in May 2025, according to the U.S. Bureau of Labor Statistics. The lowest 10% earned less than $64,060 and the highest 10% earned more than $224,200.
How long does it take to become an economics professor?
Most people need about 5–6 years after a bachelor’s of training. A Ph.D. in economics is typical.
Do you need a degree to be an economics professor?
Usually. BLS lists a doctoral degree as typical for postsecondary teachers. Universities generally require a Ph.D., while community colleges often hire instructors with a master’s degree.
Is economics professor a good career?
It can be, depending on your goals. Employment is projected to change +2.4% from 2025–35 (slower than average), with about 1,000 openings each year. Upsides include high pay for academia; a common challenge is that competitive job market.
What skills does an economics professor need?
Key technical skills include economic theory, econometrics, statistics, and data analysis. Employers also value clear explanation, critical thinking, and communication.
What certifications are available for economics professors?
Common credentials include Ph.D. in economics, Research grants, Teaching certificate, and Policy fellowships. Requirements vary by state and employer.
Still deciding?
Try the Economics Professor fit quiz, compare with Economist, or explore Economics Professor training.
Sources
- U.S. Bureau of Labor Statistics, BLS Occupational Employment and Wage Statistics (OEWS), May 2025, SOC 25-1063 (Economics teachers, postsecondary).
- U.S. Bureau of Labor Statistics, BLS Employment Projections, Table 1.2 (2025–35).
- O*NET OnLine summary for Economics teachers, postsecondary (U.S. Department of Labor).
- BLS Occupational Outlook Handbook.
Reviewed by the Career Education Institute Curriculum Team. Pay figures are national estimates; local pay varies. See our editorial policy.