The average annual salaries for economists in the state of New York are shown in Table 1. The comparison of the salary statistics of economists among New York metropolitan areas is shown in Table 2. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile bracket | Average annual salary |
|---|---|
| 10th Percentile Wage | $31,280 |
| 25th Percentile Wage | $77,420 |
| 50th Percentile Wage | $124,290 |
| 75th Percentile Wage | $184,130 |
| 90th Percentile Wage | $207,240 |
Table 1 shows the average annual salary for economists in New York in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $207,240. The median (50th percentile) annual salary is $124,290. The average annual salary for the bottom 10 percent is $31,280.
The table and chart below show the trend of the median salary of economists from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $124,290 | -5.98% | 21.85% |
| 2021 | $131,720 | 12.50% | - |
| 2020 | $115,250 | 4.69% | - |
| 2019 | $109,850 | 7.38% | - |
| 2018 | $101,740 | -1.74% | - |
| 2017 | $103,510 | -0.58% | - |
| 2016 | $104,110 | -2.38% | - |
| 2015 | $106,590 | 4.44% | - |
| 2014 | $101,860 | -1.50% | - |
| 2013 | $103,390 | 6.05% | - |
| 2012 | $97,130 | - | - |
Table 3 shows the median annual salary of economists in some New York cities and metropolitan areas. We note that the median annual salary of economists in state of New York ranges from $80,520 to $134,140. The highest paying area for economists in New York is New York-Northern New Jersey-Long Island with a median annual salary of $134,140. The second highest paying city/area in New York State is New York-White Plains-Wayne (mean annual salary $121,140). The lowest paying area is Albany-Schenectady-Troy with a median annual salary of $80,520.
| Cities/Areas | Median Annual Salary |
|---|---|
| New York-Northern New Jersey-Long Island | |
| New York-White Plains-Wayne | |
| Rochester | |
| Buffalo-Niagara Falls | |
| Syracuse | |
| Albany-Schenectady-Troy |