Social Scientists and Related Workers

How to become an Economist

Official title: Economists

Also called: Economic Advisor, Economic Analyst, Economic Consultant, Economic Development Specialist, Economist, Forensic Economist, Project Economist, Research Economist, Revenue Research Analyst, Tax Economist

Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

Main tasks

Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
Explain economic impact of policies to the public.
Review documents written by others.
Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
Supervise research projects and students' study projects.

How to become one

Economists typically need at least a master's degree to enter the occupation. However, some economists, primarily in government, qualify for entry-level positions with a bachelor's degree. Others need a Ph.D.

Typical education to start: Master's degree

Read the full guide from the U.S. Bureau of Labor Statistics

Ways in

College: Business & Commerce degrees, Offered by 35 universities in the US

Pay · Outlook · AI and this job

Median pay: $124,720 a year The middle half earn $89,330 to $174,720.
About 18,600 people work in this job now, and about 19,500 are projected by 2035. (+4.7%)
People already use generative AI for a good share of this work, which usually changes the job more than it replaces it. Microsoft Research rates its AI applicability as high.

Questions people ask

How do I become an Economist?

How much does an Economist earn in the US?

Median full-time pay is $124,720 a year (U.S. Bureau of Labor Statistics). The middle half earn $89,330 to $174,720.

Is an Economist a growing career in the US?

Yes. Employment is projected to grow 5% by 2035, from about 18,600 to about 19,500 people (U.S. Bureau of Labor Statistics).

Do you need a degree to become an Economist?

Usually. 100% of people in this job hold a bachelor's degree or higher.

Will AI change the work of an Economist?

People already use generative AI for a good share of this work, which usually changes the job more than it replaces it. Microsoft Research rates its AI applicability as high.

Sources

Microsoft Research: Working with AI: AI applicability by occupation (2025-12-22 (built on O*NET 29.0)), CC BY 4.0, retrieved 2026-10-03
U.S. Bureau of Labor Statistics: Employment Projections (2025-35 (released 2026-08-27)), Public domain (BLS), retrieved 2026-10-03
U.S. Bureau of Labor Statistics: Occupational Outlook Handbook (2025-35 edition (published 2026-08-27)), Public domain (BLS); photographs excluded, retrieved 2026-10-03
U.S. Bureau of Labor Statistics: Occupational Employment and Wage Statistics (May 2025), Public domain (BLS), retrieved 2026-10-03

Updated 2026-10-03

This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET is a trademark of USDOL/ETA.