Economists vs Financial Specialists salary

According to data from the US Bureau of Labor Statistics, the average salary for Economists is $120,830 per year, while Financial Specialists earn an average of $87,350 annually. As a result, Financial Specialists earn a much lower salary than Economists.

However, wages can vary depending on factors like location, experience, and the specific setting in which the employee works. For example, Economists who work in New York (with salary averaging $152,810) may earn more than those who work in Arkansas ($68,130).

Economists vs Financial Specialists overview

Economists and Financial Specialists are two important roles in the Professional, Scientific, and Technical Services industry. There is a common interest in understanding the differences between these job titles, as well as the average salaries for each.

Economist job description

Economists 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.

Economist education and experience

The majority of Economists (61%) hold a Doctoral Degree. However this occupation also includes some employees who have a Master's Degree (30%). Regarding experience, most of the Economist jobs require no previous experience. A smaller part of jobs (17%) require a previous experience of 1 to 2 years.

Economist average salary

According to data from the US Bureau of Labor Statistics, the number of Economists employed by the United States in 2021 was 15,640, and on average, they earned $120,830 per year. The bottom 10 percent had earnings of $62,460 or less, and the top 10 percent had earnings of $193,690 or more.

Do Economists make good money?

Economists are usually paid well, as their average salary is 107% higher than the average salary in the United States ($58,260). Moreover, they earn 78% more than the average pay of the Federal, State, and Local Government industry ($67,800).

Economists are usually paid well, as their average salary is 107% higher than the average salary in the United States ($58,260).

Economists job growth

Economists have seen a decrease in employment over the past two years. In 2021, there have been 1,880 less roles than the previous year nationwide, which marks a decrease of 10.7%. Over the past 3 years, job growth has averaged -5.5%.

Financial Specialist average salary

According to data from the US Bureau of Labor Statistics, the number of Financial Specialists employed by the United States in 2021 was 2.9M, and their average annual wage was $87,350. The bottom 10 percent had a salary of $43,720 or less, and the top 10 percent had a salary of $140,710 or more. The average salary has increased by 2.2% in comparison to the previous year.

Do Financial Specialists make good money?

The mean salary of Financial Specialists is about a half above the average pay in the United States ($58,260). On the other hand, they make 4% less than the mean earnings of the Professional, Scientific, and Technical Services industry ($91,150).

The mean salary of Financial Specialists is about a half above the average pay in the United States ($58,260).

Financial Specialists job growth

In 2021, there have been 145,370 more Financial Specialist job opportunities than the previous year across the nation, and that shows an increase of 5.3%. Over the past 3 years, job growth has averaged 2.5%.

FAQ

Do Economists or Financial Specialists make more?

The average earnings of Economists are 38% higher than those of Financial Specialists. On average, Financial Specialists make $87,350 per year, while Economists make $120,830.