Hiring guide · Business & Office
How to Hire an Economist
Pay benchmarks, qualifications, sourcing, screening and interview questions for hiring economists, plus a plan to get them productive fast.
Write a clear job description, offer competitive pay (the national median is $124,720), recruit through community college business programs and career centers, verify Master’s or Ph.D. in economics where applicable, run a structured interview with a practical skills check, and onboard with a 30-60-90 day plan.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
The hiring market for economists
There are about 18,600 economists employed in the U.S., with roughly 1,100 openings each year. Employment is projected to change +4.7% from 2025–35 (about as fast as average). Most openings come from replacing workers who retire or change careers, so a steady pipeline matters.
Pay benchmarks for offers
| Candidate level | Annual | Hourly* |
|---|---|---|
| Entry level (10th–25th percentile) | $67,360–$89,330 | $32.38–$42.95 |
| Typical / mid-career (median) | $124,720 | $59.96 |
| Experienced (75th percentile) | $174,720 | $84.00 |
| Top of market (90th percentile) | $238,060 | $114.45 |
*Annual ÷ 2,080 hours except median. National BLS data; adjust for your state and metro area. Many states and cities now require pay ranges in job postings.
What to look for
Must-haves
- Master's degree (typical entry level)
- Econometrics
- Critical thinking
Nice-to-haves
- Master’s or Ph.D. in economics
- Certified Business Economist
- CFA
- Experience with stata
Where to find economists
- Community college business programs and career centers
- Professional associations (such as SHRM, PMI and state CPA societies)
- LinkedIn and niche job boards
- Internal promotion from front-line roles
- Job postings that use common alternate titles: Research Economist, Policy Economist, Business Economist, Labor Economist
Screening checklist
- A skills assessment (Excel, writing or role software)
- Credential verification (CPA, PMP, SHRM-CP, paralegal certificate)
- Reference checks focused on reliability and accuracy
- A structured interview with a short work sample
Follow federal, state and local rules on background checks, drug testing and fair-chance hiring, and apply screening consistently to all candidates for the role.
Interview questions to ask
Ask every candidate the same questions and score answers on a structured scorecard.
1. “Describe your research.”
What a strong answer includes: Explain.
2. “What methods do you use?”
What a strong answer includes: List.
3. “How do you explain findings?”
What a strong answer includes: Share.
4. “What software do you use?”
What a strong answer includes: List.
5. “Describe a policy you analyzed.”
What a strong answer includes: Share.
Practical skills checks
A short demonstration beats a perfect resume. Ask candidates to talk you through, or perform under supervision, tasks such as:
- Write an Economic Policy Brief (see the steps)
- Run a Regression for Policy Analysis (see the steps)
- Build a Simple Economic Forecast (see the steps)
Red flags
- Can’t describe basic safety practices for the role
- Vague or inconsistent work history with no explanation
- Unfamiliar with core terms such as GDP, Inflation, CPI
- Negative talk about every past employer or coworker
Onboard for retention
The first 90 days decide whether a new hire stays. Use our Economist 30-60-90 day onboarding plan and give every new hire the same foundation with Economist training. Show them the path forward: Research Assistant → Economist → Senior Economist → Chief Economist.
Hiring economists: FAQ
How much should I pay an economist?
The U.S. median wage for economists is $124,720 per year ($59.96/hour), according to BLS May 2025 data. Entry-level offers often fall near the 25th percentile ($89,330), while experienced hires command closer to the 75th percentile ($174,720). Adjust for your local market.
What qualifications should an economist have?
BLS lists “master's degree” as the typical entry-level education. Look for Master’s or Ph.D. in economics and Certified Business Economist where relevant, plus skills such as econometrics, statistics, and economic theory.
How long does it take to train a new economist?
Becoming qualified typically takes 2–6 years after a bachelor’s. After hire, plan for a structured 30-60-90 day onboarding period; BLS classifies on-the-job training for this occupation as “none.”