The average annual salaries for postsecondary economics teachers in the state of Tennessee are shown in Table 1. The comparison of the salary statistics of postsecondary economics teachers amongst Tennessee 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 | $40,340 |
| 25th Percentile Wage | $53,340 |
| 50th Percentile Wage | $98,680 |
| 75th Percentile Wage | $132,060 |
| 90th Percentile Wage | $196,660 |
Table 1 shows the average annual salary for postsecondary economics teachers in Tennessee in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $196,660. The median (50th percentile) annual salary is $98,680. The average annual salary for the bottom 10 percent is $40,340.
The table and chart below show the trend of the median salary of postsecondary economics teachers from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $98,680 | 5.67% | 19.24% |
| 2021 | $93,080 | -6.28% | - |
| 2020 | $98,930 | -8.98% | - |
| 2019 | $107,810 | -6.78% | - |
| 2018 | $115,120 | 5.20% | - |
| 2017 | $109,130 | 25.09% | - |
| 2016 | $81,750 | 7.25% | - |
| 2015 | $75,820 | 8.72% | - |
| 2014 | $69,210 | -18.64% | - |
| 2013 | $82,110 | 2.95% | - |
| 2012 | $79,690 | - | - |
Table 3 shows the median annual salary of postsecondary economics teachers in some Tennessee cities and metropolitan areas. We note that the median annual salary of postsecondary economics teachers in state of Tennessee ranges from $72,660 to $132,060. The highest paying area for postsecondary economics teachers in Tennessee is Knoxville with a median annual salary of $132,060. The second highest paying city/area in Tennessee State is Nashville-Davidson--Murfreesboro--Franklin (mean annual salary $100,680). The lowest paying area is Memphis with a median annual salary of $72,660.
| Cities/Areas | Median Annual Salary |
|---|---|
| Knoxville | |
| Nashville-Davidson--Murfreesboro--Franklin | |
| South Central Tennessee nonmetropolitan area | |
| Memphis |