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Job outlook for economics professors in the United States
Are economics professor jobs in demand?
Economics Professor job and salary trends over time
Economics Professor jobs over time
Economics Professor job growth rate over time
Year  | # Of Jobs | % Of Population |
|---|---|---|
| 2021 | 1,656 | 0.00% |
| 2020 | 1,838 | 0.00% |
| 2019 | 1,864 | 0.00% |
| 2018 | 1,791 | 0.00% |
| 2017 | 1,794 | 0.00% |
Average economics professor salary over time
Economics Professor salary by year
| Year | Avg. Salary | Hourly Rate | % Change |
|---|---|---|---|
| 2025 | $104,547 | $50.26 | +2.8% |
| 2024 | $101,730 | $48.91 | +2.8% |
| 2023 | $98,913 | $47.55 | +3.2% |
| 2022 | $95,862 | $46.09 | +2.7% |
| 2021 | $93,347 | $44.88 | +1.9% |
Economics Professor jobs by state
Most common states for economics professors
| Rank | State | Population | # of Jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 76 | 11% |
| 2 | Vermont | 623,657 | 60 | 10% |
| 3 | West Virginia | 1,815,857 | 104 | 6% |
| 4 | South Dakota | 869,666 | 51 | 6% |
| 5 | Virginia | 8,470,020 | 410 | 5% |
| 6 | Colorado | 5,607,154 | 287 | 5% |
| 7 | Oregon | 4,142,776 | 216 | 5% |
| 8 | Utah | 3,101,833 | 146 | 5% |
| 9 | Nebraska | 1,920,076 | 91 | 5% |
| 10 | New York | 19,849,399 | 796 | 4% |
| 11 | Kentucky | 4,454,189 | 177 | 4% |
| 12 | Mississippi | 2,984,100 | 122 | 4% |
| 13 | Rhode Island | 1,059,639 | 38 | 4% |
| 14 | Alaska | 739,795 | 32 | 4% |
| 15 | Pennsylvania | 12,805,537 | 432 | 3% |
| 16 | New Jersey | 9,005,644 | 259 | 3% |
| 17 | Wisconsin | 5,795,483 | 180 | 3% |
| 18 | Alabama | 4,874,747 | 151 | 3% |
| 19 | Louisiana | 4,684,333 | 142 | 3% |
| 20 | Maine | 1,335,907 | 44 | 3% |
Most common cities for economics professors
| Rank | City | # of Jobs | Employment/ 1000ppl | Avg. Salary |
|---|---|---|---|---|
| 1 | Coral Gables | 1 | 2% | $79,608 |
| 2 | East Lansing | 1 | 2% | $93,724 |
Economics Professor job outlook: Expert opinions
Our panel of economics professor experts
North Carolina State University
Skidmore College
Washington and Lee University
Southern Connecticut State University
What general advice would you give to an Economics Professor?
Alex Holte PhD: My advice for someone new to the field of academia is to learn time management skills early and learn what type of service work you find interesting and would like to contribute to. From there, learn how to say “no” to opportunities that may not align with your goals as well. I feel a lot of new professors tend to find the need to be involved in everything, which can result in burning out later in their career.
What Economics Professor skills would you recommend for someone trying to advance their career?
Alex Holte PhD: I would say being able to work with AI may be something that is more important in the next 3-5 years. Right now it’s a new technology and people are just now learning how to integrate it in the workplace, but I feel it is possible the future workforce of tomorrow will necessitate some form of being able to use AI technology.
What will help Economics Professors increase their earning potential?
Alex Holte PhD: When you are starting out at any career, it is important to negotiate your salary. Many candidates feel that they have to accept their first offer, but in reality, at many jobs, there is some room for negotiation. Be mindful however, to not request a salary that is much higher than what is being offered as they may feel like a compromise would not be possible and move on to the next candidate.
What general advice would you give to an Economics Professor?
Justin Whitehill Ph.D.: Perseverance pays off. Its worth it to pursue the career you want and not settle and be unhappy.
What will help Economics Professors increase their earning potential?
Justin Whitehill Ph.D.: I wouldn’t know, I’m a professor.
Jane Kuandre
Associate ProfessorWhat general advice would you give to an Economics Professor?
Jane Kuandre: My advice for someone looking to pursue a career in academia would be to focus on building a strong publication record, developing a network of collaborators, and continuously seeking opportunities for professional development.
What will help Economics Professors increase their earning potential?
Jane Kuandre: Networking is crucial for career advancement in academia as it allows individuals to establish collaborations, gain access to resources, and stay updated on the latest research trends.
Aurelie Matheron
Assistant Professor of FrenchSkidmore College
Romance Languages, Literatures, And Linguistics
What will help Economics Professors increase their earning potential?
Aurelie Matheron: Do some research online about how much someone earns at your stage of the career. If there is a significant gap, point out (diplomatically) that, because of your extensive experience in XYZ, you would like to get a X% increase in your salary. Be reasonable: if you want a 3% increase, ask for 5% (not 10% or more). Justify your negotiation: why should they pay me more? What experience can I show them to justify my request? If you have a higher offer from another place, you can say that “I have received another generous offer and would like to know about the possibility for matching that offer.” Salary is not the only thing you can negotiate: office space, computer/laptop, sabbaticals, course release, etc. Again, be reasonable: if you think you are entitled to XYZ requests, you also have to show why.
Chantal Smith
Assistant Professor of EconomicsWashington and Lee University
Economics Department
What skills will help Economics Professors earn the most?
Chantal Smith: I think my institution and I found each other at the perfect time. They were looking for a professor passionate about teaching and research, and I was looking for a place that would let me be free to research non-conventional topics and fulfill my love of teaching (I was formerly a K-12 teacher).
Jia Yu Ph.D.
Associate Professor of EconomicsSouthern Connecticut State University
School of Business
What skills stand out on Economics Professor resumes?
Jia Yu Ph.D.: -Sufficient teaching experience
-Flexible office hours
-New course/program development
-Outstanding teaching evaluation
-Efficient classroom management
What skills will help Economics Professors earn the most?
Jia Yu Ph.D.: Economics instructor is not the job that can earn a lot. The skills that may help an economics instructor earn the most is the ability to teach and delivering data analysis and statistical software applications, which is a transferrable skill fitting students in a varied career path in the future. So, the demand for this type of instructor is high, which may result in higher pay.