Economist
Also known as: Economic Analyst, Research Economist, Economic Consultant, Economic Advisor
Analyze data on production, distribution, and consumption of goods and services to advise businesses and governments on economic policy.
Salary Range
The highest-paid specialization or seniority level for economists.
About 1 in 500 reaches this level
About 18,600 economists in the US (BLS Employment Projections, SOC 19-3011, 2025). Chief Economist roles at major banks, hedge funds, or the Federal Reserve paying $400K+ total comp exist at maybe 30-40 firms (~0.2%).
Salary data based on 2025 BLS, Glassdoor, and industry reports. Actual compensation varies by location, experience, and employer.
How to Become One
This career typically requires a master's degree. Here are the top colleges for it:
Cost to Qualify
A terminal economics master's costs roughly $25K in tuition over two years at a public university — NCES puts average graduate tuition and fees at $12,596 a year at publics — and about $105K at an elite private: Duke charges $34,940 per semester for full-time research master's students and requires three full-time semesters. Before paying for this, check the specific job: many research-track economist roles actually prefer a PhD over a terminal master's, and a PhD in economics is almost always funded (stipend plus tuition waiver, real cost close to $0) — this credential is the right call mainly for policy/industry roles that don't require a doctorate.
Sticker price, not what most people pay — scholarships, aid and in-state status all move it. Room and board is shown separately on each college's page.
AI Risk Assessment
Economics is desk work built on data analysis, modeling and writing, which is exactly what AI tools are good at, and two independent measures agree the job is highly exposed. Anthropic's March 2026 study, which tracks how much of each job's tasks people already use its Claude AI for at work, puts economists at about 24%, in the top 13% of the 756 jobs it measured. Microsoft's 2025 study of Copilot conversations ranks economists 52nd of 785 jobs for how well AI fits their tasks.
But the government's outlook has turned positive. The Bureau of Labor Statistics (BLS) now projects economist jobs to grow 5% from 2025 to 2035, faster than the 3% average, driven by organizations using economists to analyze big data for pricing, advertising and forecasting. It is a small field, with about 18,600 jobs and 1,100 openings a year. About half of economists work for federal, state or local governments, and BLS warns that government budgets will affect hiring. Across all jobs, Anthropic found that more exposed jobs are projected by BLS to grow a little more slowly (0.6 percentage points less growth for every 10 points more AI coverage), but it calls that relationship slight.
We lower this from 4 to 3 (Moderate). The old 4 was built on a BLS projection of 1% growth, 'well below average', which the new projection reverses. High exposure is still a real risk: the data work and first drafts that junior economists and research assistants do are the kind of work AI handles well, so expect the entry level to demand more skill with AI. But we found no evidence of employers cutting economist jobs, which a 4 needs.
What would change the score: evidence that research departments, consultancies or agencies are hiring fewer junior economists or research assistants because of AI, or a BLS projection cut that names AI, would move this back to 4.
Sources
Ratings reflect a 10-year outlook based on 2025-2026 research, weighted toward entry-level impact. Individual outcomes will vary.
Related Careers
Is Economist right for you?
Take our free 20-minute assessment to find out if economist matches your personality, interests, and strengths.
Take the Free Assessment