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1 | Career Snapshot (2024–25 U.S. Figures)

• Median annual pay: $117,670 (May 2024, BLS)
• Employment, 2023: ≈ 17,500 economists
• Projected growth, 2023–33: +6% (≈ 1,100 new jobs) – “faster than average”
• Average openings/year: ≈ 1,200 (growth + retirements)
• Top-paying metros (2024): Washington DC $140k · San Francisco $133k · New York $128k

Why demand is rising: Global supply chain shocks, AI’s impact on labor markets, healthcare reform, climate policy economics, and financial risk modeling are all driving the need for economists who can translate data into forecasts and actionable policy/business strategies.

2 | What Economists Actually Do

Core domains & tasks

3 | Industries & Week-in-the-Life

Where They Work:

Typical workload: 40–50 hrs/week. Finance & consulting often push 60+. Academia and government tend to be more predictable. Hybrid is now common, with data modeling done remotely and in-person policy/board meetings.

4 | Salary Ladder (2025 estimates, base + bonus)

Finance & FAANG tech pay 20–30% above median; government roles pay less but offer pensions, job stability, and work-life balance.

5 | Education & Credential Path

• Bachelor’s in Economics / Math / Stats / Finance (4 yrs): Entry analyst roles.
• Master’s (2 yrs): Often required for government, consulting, applied econ.
• PhD (5–7 yrs): Mandatory for academia, many think tanks, Federal Reserve economists.
• Certifications: Chartered Financial Analyst (CFA), Certified Business Economist (CBE), Data Science bootcamps for coding/econometrics.

Recruiters prioritize: applied research experience, econometrics skills (R/Python), and published working papers over purely theoretical coursework.

6 | Core Competency Blueprint

Technical Skills:

• Econometrics: Regression, time-series, panel data, causal inference
• Coding & Data: R, Python, Stata, MATLAB, SQL
• Visualization: Tableau, ggplot, matplotlib, PowerBI
• Financial Modeling: Bloomberg Terminal, Excel VBA
• Survey & Experimental Design: RCTs, surveys, A/B testing

Soft Skills:

• Clear communication of complex data for non-experts
• Policy and business writing (briefs, memos, op-eds)
• Collaboration with policymakers, executives, academics
• Critical thinking & curiosity-driven questioning

7 | Trends 2025–2030

• AI-Augmented Economics: Machine learning applied to massive datasets (job ads, mobile data, satellite imagery).
• Climate & ESG Economics: Demand for carbon market modeling, sustainability metrics.
• Health & Aging Policy: Healthcare reform economics as populations age.
• Global Trade Shocks: Economists tracking reshoring, tariffs, and global supply chain dynamics.
• Behavioral Economics Expansion: Firms blending psychology and econ to model consumer decisions.

8 | Pivot Pathways

• From Data Scientist → Economist: Add econometrics + policy coursework.
• From Finance Analyst → Economist: Build stronger modeling + econometric theory.
• From Political Scientist → Economist: Shift focus to quantitative policy evaluation.
• To Tech Product Roles: Economists with coding skills pivot to product data science.

9 | Burnout Buffers

• Rotate between applied policy and pure research to prevent monotony.
• Publish in both academic and practitioner outlets to diversify recognition.
• Build GitHub repos or Substack newsletters for independence beyond employer deliverables.
• Prioritize roles with balanced deadlines (gov/academia) if finance consulting hours feel unsustainable.

10 | Is This Career Right for You? (MAPP Fit)

Economists thrive if you’re intrinsically motivated by puzzles, patterns, and the challenge of turning noisy datasets into actionable insights.

👉 Take the free MAPP Career Assessment to see if your intrinsic motivations align with investigative, quantitative, and policy-driven work.

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