The annual salary statistics of postsecondary economics teachers in Virginia Beach-Norfolk-Newport News, Virginia is shown in Table 1. The wage statistics of postsecondary economics teachers in Virginia Beach-Norfolk-Newport News is 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 | $49,790 |
| 25th Percentile Wage | $65,660 |
| 50th Percentile Wage | $81,180 |
| 75th Percentile Wage | $97,010 |
| 90th Percentile Wage | $161,260 |
Table 1 shows the average annual salary for postsecondary economics teachers in Virginia Beach-Norfolk-Newport News, Virginia in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $161,260. The median (50th percentile) annual salary is $81,180. The average annual salary for the bottom 10 percent earners is $49,790.
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 | $81,180 | -2.32% | 52.55% |
| 2021 | $83,060 | -20.62% | - |
| 2020 | $100,190 | 0.11% | - |
| 2019 | $100,080 | 5.82% | - |
| 2018 | $94,260 | 6.07% | - |
| 2017 | $88,540 | 5.70% | - |
| 2016 | $83,490 | 4.18% | - |
| 2015 | $80,000 | 28.57% | - |
| 2014 | $57,140 | 27.69% | - |
| 2013 | $41,320 | 6.78% | - |
| 2012 | $38,520 | - | - |
From Table 3 we note that the median annual salary of $81,180 in Virginia Beach-Norfolk-Newport News is in the middle of salary range for postsecondary economics teachers in state of Virginia. In comparison, the annual salary of postsecondary economics teachers in Virginia Beach-Norfolk-Newport News is 26.5 percent (26.5%) lower than that in the highest paying Northwestern Virginia nonmetropolitan area and 5.3 percent (5.3%) higher than that in the lowest paying Lynchburg.
| Cities/Areas | Median Annual Salary |
|---|---|
| Northwestern Virginia nonmetropolitan area | |
| Richmond | |
| Blacksburg-Christiansburg-Radford | |
| Virginia Beach-Norfolk-Newport News | |
| Lynchburg |