The annual salary statistics of economists in Madison, Wisconsin is shown in Table 1. The wage data of economists in Madison 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 | $47,840 |
| 25th Percentile Wage | $54,230 |
| 50th Percentile Wage | $70,370 |
| 75th Percentile Wage | $82,140 |
| 90th Percentile Wage | $130,400 |
Table 1 shows the average annual salary for economists in Madison, Wisconsin in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $130,400. The median (50th percentile) annual salary is $70,370. The average annual salary for the bottom 10 percent earners is $47,840.
The table and chart below show the trend of the median salary of economists from 2012 to 2021.
| Year | Median Salary | Yearly Growth | 9-Year Growth |
|---|---|---|---|
| 2021 | $70,370 | 11.10% | -16.85% |
| 2018 | $62,560 | -2.80% | - |
| 2017 | $64,310 | -27.87% | - |
| 2016 | $82,230 | 15.46% | - |
| 2015 | $69,520 | 4.57% | - |
| 2014 | $66,340 | -23.95% | - |
| 2012 | $82,230 | - | - |
From Table 3 we note that with a median annual salary of $70,370, Madison is the second highest paying city for economists in state of Wisconsin, following the highest paying city Minneapolis-St Paul-Bloomington (median annual salary of $101,500). Compared with Minneapolis-St Paul-Bloomington, the median annual salary of economists in Madison is 30.7 percent (30.7%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Minneapolis-St Paul-Bloomington | |
| Madison | |
| Milwaukee-Waukesha-West Allis | |
| Green Bay | |
| Eau Claire |