Salary guide
Economics Professor Salary & Pay Scale (2026)
What economics professors earn per year, per hour and per month, with the full percentile range, the factors that move pay and how to earn more.
The median economics professor salary in the U.S. is $123,920 per year based on Bureau of Labor Statistics data for May 2025. The lowest-paid 10% earned under $64,060, while the top 10% earned more than $224,200.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
Economics Professor pay scale
| Percentile | Annual | Hourly* | What it usually reflects |
|---|---|---|---|
| 10th percentile | $64,060 | $30.80 | Typical for new workers, part-time markets and lower-paying settings |
| 25th percentile | $86,840 | $41.75 | Early career, a year or two of experience |
| Median (50th) | $123,920 | $59.58 | Mid-career: half earn more, half earn less |
| 75th percentile | $168,770 | $81.14 | Experienced workers, specialists and higher-paying employers |
| 90th percentile | $224,200 | $107.79 | Top earners: senior, specialized, supervisory or high-cost areas |
*Hourly figures are annual wages divided by 2,080 hours; BLS publishes annual wages only for this occupation. Percentile descriptions are general patterns, not guarantees.
Monthly and biweekly pay
| Pay period | At 25th percentile | At median | At 75th percentile |
|---|---|---|---|
| Per year | $86,840 | $123,920 | $168,770 |
| Per month | $7,237 | $10,327 | $14,064 |
| Every two weeks | $3,340 | $4,766 | $6,491 |
| Per week | $1,670 | $2,383 | $3,246 |
Gross pay before taxes and deductions.
What affects economics professor pay
- Public versus private schools and centers
- Degree level and state salary schedules
- Subject or specialty shortages (special education, STEM, career and technical education)
- Extra-duty pay for coaching, summer school and tutoring
- Geography and cost of living: metropolitan areas and some states pay well above the national median
How to earn more as an economics professor
- Get credentialed: Ph.D. in economics, Research grants, Teaching certificate.
- Build specialty experience: Tenure track.
- Move up: roles such as associate professor and professor or chair typically pay more.
- Negotiate: research local pay and use our salary negotiation guide.
Economics Professor pay vs. related careers
Job outlook
BLS projects employment of economics professors to change by +2.4% from 2025–35, slower than average compared with the 3.5% average for all occupations. About 1,000 openings are projected each year, on average, including openings to replace workers who retire or change occupations.
About this data
Figures come from the BLS Occupational Employment and Wage Statistics survey (May 2025), which covers wage and salary workers nationwide under SOC code 25-1063 (“Economics teachers, postsecondary”). Wages exclude self-employment income, overtime and most bonuses unless they are part of regular pay. We refresh these numbers when BLS releases new estimates each spring.
Economics Professor salary FAQ
How much does an economics professor make per hour?
BLS reports only annual wages for economics professors, because most are paid a yearly salary rather than by the hour. Spread over a standard 2,080-hour work year, the May 2025 median of $123,920 works out to about $59.58 an hour.
How much does an economics professor make a month?
At the median annual wage of $123,920, that works out to about $10,327 per month before taxes, or about $4,766 every two weeks.
What is the starting salary for an economics professor?
New economics professors often start near the lower end of the range. The 10th percentile was $64,060 and the 25th percentile was $86,840 per year in May 2025. Starting pay depends on location, employer and credentials.
How can economics professors earn more?
Common ways include earning Ph.D. in economics and Research grants, gaining specialty experience, taking shifts or roles with premium pay, and moving up the career ladder to roles such as associate professor.
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.