The US Bureau of Labor Statistics has reported that Political Scientists have an average annual salary of $120,430, whereas Economists earn an average of $120,830 annually. This indicates that the salaries for these two jobs are similar.
Keep in mind, however, that factors such as location, experience, and the specific workplace can affect salary. For instance, Economists in New York may have higher earnings (averaging $152,810 per annum) compared to those in Arkansas ($68,130).
Political Scientists vs Economists overview
Political Scientists and Economists are essential to the Federal, State, and Local Government industry. People are often interested in learning about the differences between these jobs, as well as the average salaries for each.
Political Scientist job description
Political Scientists study the origin, development, and operation of political systems. May study topics, such as public opinion, political decisionmaking, and ideology. May analyze the structure and operation of governments, as well as various political entities. May conduct public opinion surveys, analyze election results, or analyze public documents.
Political Scientist education and experience
To become a Political Scientist, an individual usually must obtain a Doctoral Degree. But this field also includes some employees who have a Master's Degree (8%). When it comes to experience, about a third of Political Scientist occupations require a 6 months to 1 year of previous work-related experience. A smaller number of roles (24%) do not require any previous experience.
Political Scientist average salary
Based on data from the US Bureau of Labor Statistics, 5,650 Political Scientists were employed by the United States in 2021, and their average annual wage was $120,430. The lowest earning 10 percent made $61,480 or less, and the highest earning 10 percent made $172,490 or more per year. Compared to the previous year, the mean salary has declined by 3%.
Do Political Scientists make good money?
Political Scientists usually receive good salaries, since their mean salary is 107% above the average wage in the United States ($58,260). Furthermore, they make 78% more than the mean earnings of the Federal, State, and Local Government industry ($67,800).
Political Scientists usually receive good salaries, since their mean salary is 107% above the average wage in the United States ($58,260).
Political Scientists job growth
In 2021, there have been 360 less Political Scientist positions than the previous year across the nation, and that marks a decrease of 6%. The average job growth rate for the past 3 years has been 0.1%.
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, among employees in this occupation, there are also some with a Master's Degree (30%). In terms of 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
Based on data from the US Bureau of Labor Statistics, 15,640 Economists were employed by the United States in 2021, and their average annual salary was $120,830. The lowest earning 10 percent made $62,460 or less, and the highest earning 10 percent made $193,690 or more per year.
Do Economists make good money?
Economists generally earn good salaries, as their average salary is 107% higher than the average salary in the United States ($58,260). Furthermore, they earn 78% more than the average pay of the Federal, State, and Local Government industry ($67,800).
Economists generally earn good salaries, as their average salary is 107% higher than the average salary in the United States ($58,260).
Economists job growth
The demand for Economists in the workforce has decreased in the last two years. In 2021, there have been 1,880 less roles than the previous year nationwide, which marks a decrease of 10.7%. The average job growth over the past 3 years has been -5.5%.
FAQ
Do Political Scientists or Economists make more?
These two professions have salaries that are similar. On average, Political Scientists make $120,430 per year, while Economists make $120,830.
How long does it take to become a Political Scientist vs Economist?
Both Political Scientist and Economist occupations typically require a Doctoral Degree. Completing a Doctoral Degree most often takes between 4 years and 6 years of study. But, considering that a Master's Degree must be obtained first, the full educational program might take around 13 years to finish.
Is it harder to become a Political Scientist vs Economist?
The level of difficulty of achieving either occupation is similar, as they both require the same level of education.
Related Job Comparisons
- Public Relations Specialists vs Political Scientists salary
- Political Scientists vs Data Scientists salary
- Postsecondary Mathematical Science Teachers vs Economists salary
- Economists vs Financial Specialists salary
- Marketing Managers vs Economists salary
- Business Operations Specialists vs Economists salary