Economists
Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.
Economists conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. The role reports a median annual salary of $115,440 in the US and is showing modest growth of 1% over the next decade. Entry typically requires a Master's degree, and shows moderate AI exposure (0.63 on a 0-1 scale) — some tasks are being automated but the role adapts. The most in-demand skills for the role include government policy implementation, public finance, economics, maintain relations with local representatives, liaise with local authorities.
Pay in the UK
UK: median £53,342 a year for Actuaries, economists and statisticians (ONS ASHE 2025, full-time)
Middle half of full-time jobs: £41,906 to £74,372 a year
UK jobs are grouped differently; this is the closest UK occupation group (ONS SOC 2020 2433). ONS rates this estimate reasonably precise. 2025 provisional figures; ONS revises them a year later. Source: ONS Annual Survey of Hours and Earnings (Open Government Licence)
Pay in India (occupation group)
Average monthly earnings of salaried employees in the occupation group “Professionals” in India, from the Government of India's Periodic Labour Force Survey (January–December 2025). It covers everyone in this group, not only Economists, and it is not US pay converted to rupees.
Source: MoSPI (Government of India), Periodic Labour Force Survey Annual Report 2025, Table 51 — average wage/salary earnings of regular wage/salaried employees, NCO-2015 division 2. Official India data gives one average per occupation group: there are no official India figures for single careers, experience levels or cities. Read the report
How to get here in India
The usual route into this career in India. Each step links to the official page it comes from.
- 1 · Qualification Postgraduate degree in Economics, Applied Economics, Business Economics or Econometrics[1]
- 2 · Entrance exam UPSC Indian Economic Service (IES) Examination[1]
- 3 · First role Officer in the Junior Time Scale of the Indian Economic Service[1]
Rules change: check the exam body's and regulator's current notice before you apply.
- UPSC — Indian Economic Service / Indian Statistical Service Examination 2026 notice (read on 2026-09-27)
Entrance exams on this route — Dates, eligibility and cut-offs for the exams on the way to this career:
Top skills
Knowledge you'll build
- Mathematics
- Economics and Accounting
- English Language
- Computers and Electronics
- Education and Training
- Communications and Media
- Law and Government
- Administration and Management
A day in the life
You start the morning reading the economic news and the latest data on prices, jobs and trade, updating the tables you track every week. Mid-morning you work on a forecasting model, testing how changes in interest rates might affect household spending over the coming year. After lunch you study a proposed tax change for the public agency you advise, estimating who gains, who loses and what it might do to jobs and prices. Later you review a colleague's draft report, checking the methods and suggesting clearer ways to present the results. You also answer questions from a journalist about rising food prices, trying to translate technical findings into plain language. Cleaning and checking large data sets can be slow and tedious. But when your analysis shapes a policy decision, or helps ordinary people understand what is happening to the economy around them, the effort feels worthwhile.
Illustrative: one typical day, written from the O*NET task statements for this occupation. Real days vary by employer and seniority.
What you'd actually do
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
- Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
- Explain economic impact of policies to the public.
- Review documents written by others.
- Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
Tools & technology you'd use
Frequently asked questions
What does Economists do?
Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.
What does a typical day look like in Economists?
You start the morning reading the economic news and the latest data on prices, jobs and trade, updating the tables you track every week. Mid-morning you work on a forecasting model, testing how changes in interest rates might affect household spending over the coming year. After lunch you study a proposed tax change for the public agency you advise, estimating who gains, who loses and what it might do to jobs and prices.
How much does Economists earn?
The median annual salary for Economists in the US is $115,440.
What is the job outlook for Economists?
The role is showing modest growth of 1% over the next decade. Current US employment is approximately 17,600 workers.
How do I become a economists?
The typical entry education is a Master's degree. Building a foundation in the top skills below will strengthen your application.
What skills does Economists need?
The most in-demand skills for this role include government policy implementation, public finance, economics, maintain relations with local representatives, liaise with local authorities, advise on economic development. These are the skills O*NET identifies as most important for competent performance.
Will AI replace Economists?
Our AI-durability model gives Economists a score of 0.63 on a 0-1 scale (higher = more exposure). That places it at moderate AI exposure — some tasks are being automated but the role adapts. Learning to work with AI tools rather than against them is the path forward.
How hard is it to enter this field?
Economists has high barrier to entry — highly gated — a graduate degree or extended training/apprenticeship is typically required.