|Quick Facts: Economists|
|2012 Median Pay||$91,860 per year
$44.16 per hour
|Entry-Level Education||Master’s degree|
|Work Experience in a Related Occupation||None|
|Number of Jobs, 2012||16,900|
|Job Outlook, 2012-22||14% (As fast as average)|
|Employment Change, 2012-22||2,300|
What Economists Do
Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues.
Although the majority of economists work independently in an office, some collaborate with other economists and statisticians. Most economists work full time during regular business hours, but occasionally they work long hours to meet deadlines.
How to Become an Economist
Most economists need a master’s degree or Ph.D. However, some entry-level jobs—primarily in the federal government—are available for workers with a bachelor’s degree.
The median annual wage for economists was $91,860 in May 2012.
Employment of economists is projected to grow 14 percent from 2012 to 2022, about as fast as the average for all occupations. Job prospects should be best for those with a master’s degree or Ph.D., strong analytical skills, and related work experience.