FAQ
Economist FAQ
Answers to the most common questions about working as an economist.
Straight answers to the questions people ask most about becoming an economist: pay, training time, degrees, certifications and whether it’s a good career.
9 questions about economists
Do economists need a Ph.D.?
Often, especially for research; some roles accept a master’s.
Where do economists work?
Governments, banks, consultancies, think tanks and businesses.
Is the field growing?
BLS projects about average growth.
How much does an economist make?
The median annual wage for economists was $124,720 ($59.96 per hour) in May 2025, according to the U.S. Bureau of Labor Statistics. The lowest 10% earned less than $67,360 and the highest 10% earned more than $238,060.
How long does it take to become an economist?
Most people need about 2–6 years after a bachelor’s of training. A master’s degree or Ph.D. in economics is typical.
Do you need a degree to be an economist?
Yes. BLS lists a master's degree as the typical entry-level education.
Is economist a good career?
It can be, depending on your goals. Employment is projected to change +4.7% from 2025–35 (about as fast as average), with about 1,100 openings each year. Upsides include high pay; a common challenge is that advanced degree usually required.
What skills does an economist need?
Key technical skills include econometrics, statistics, economic theory, and programming. Employers also value critical thinking, communication, and curiosity.
What certifications are available for economists?
Common credentials include Master’s or Ph.D. in economics, Certified Business Economist, CFA, and Programming certificates. Requirements vary by state and employer.
Still deciding?
Try the Economist fit quiz, compare with Statistician, or explore Economist training.
Sources
- U.S. Bureau of Labor Statistics, BLS Occupational Employment and Wage Statistics (OEWS), May 2025, SOC 19-3011 (Economists).
- U.S. Bureau of Labor Statistics, BLS Employment Projections, Table 1.2 (2025–35).
- O*NET OnLine summary for Economists (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.