The annual salary statistics of economists in Richmond, Virginia is shown in Table 1. The wage statistics of economists in Richmond 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 | $62,130 |
| 25th Percentile Wage | $80,310 |
| 50th Percentile Wage | $101,230 |
| 75th Percentile Wage | $173,970 |
| 90th Percentile Wage | $214,020 |
Table 1 shows the average annual salary for economists in Richmond, Virginia in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $214,020. The median (50th percentile) annual salary is $101,230. The average annual salary for the bottom 10 percent earners is $62,130.
The table and chart below show the trend of the median salary of economists from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 9-Year Growth |
|---|---|---|---|
| 2022 | $101,230 | 5.85% | 19.76% |
| 2021 | $95,310 | 3.56% | - |
| 2019 | $91,920 | 2.39% | - |
| 2018 | $89,720 | -4.67% | - |
| 2017 | $93,910 | 3.23% | - |
| 2016 | $90,880 | 6.64% | - |
| 2015 | $84,850 | 1.03% | - |
| 2014 | $83,980 | 3.27% | - |
| 2013 | $81,230 | - | - |
From Table 3 we note that with a median annual salary of $101,230, Richmond is the highest paying city for economists in state of Virginia, followed by Virginia Beach-Norfolk-Newport News (median annual salary $88,030). In comparison, the median annual salary of economists in Richmond is 13.0 percent (13.0%) higher than that in Virginia Beach-Norfolk-Newport News.
| Cities/Areas | Median Annual Salary |
|---|---|
| Richmond | |
| Virginia Beach-Norfolk-Newport News |