Economy Major Salary in 2025

Pursuing a degree in economics can lead to diverse and rewarding career opportunities. As we enter 2025, the demand for skilled economists and economic analysts continues to rise. Whether you’re considering becoming a financial analyst, policy advisor, or economist, understanding the earning potential for an economics major is crucial. This article breaks down the average salary range for economy majors, factors that influence earnings, salary by experience, and job market trends, as well as the certifications and education that can impact your salary.

Average Salary Range for Economy Majors in 2025

Salaries for economy majors can vary widely based on the type of job, industry, geographic location, and level of experience. However, understanding the overall salary landscape can help you set realistic expectations for your career in economics.

United States

Entry-Level: For recent graduates with an economics degree, the average starting salary typically falls between $50,000 and $65,000 annually.
Mid-Level (3-5 years of experience): With a few years of experience, economics majors can expect to earn $65,000 to $85,000 per year, depending on their job role and industry.
Senior-Level (5+ years of experience): Senior professionals, such as economists or financial analysts with over five years of experience, can earn $90,000 to $120,000 annually. Those in top-tier firms or specialized roles can see earnings surpass $150,000.

United Kingdom

Entry-Level: In the UK, economics graduates can earn between £25,000 and £35,000 annually.
Mid-Level: Professionals with 3-5 years of experience typically earn £35,000 to £50,000.
Senior-Level: Experienced economists or analysts can make £55,000 to £75,000, with top earners making over £80,000 in major financial centers like London.

Other Countries

Canada: Economy majors in Canada generally earn between CAD 50,000 to CAD 70,000 annually for entry-level positions, with mid-career salaries ranging from CAD 70,000 to CAD 90,000.
Australia: In Australia, starting salaries for economics graduates range from AUD 55,000 to AUD 70,000, with mid-career professionals earning AUD 75,000 to AUD 100,000.

Factors Influencing Economy Major Salary

Several factors can impact the salary of an economics major, including:

Industry: The industry in which an economist works can have a significant impact on salary. Economists in finance, government, or tech tend to earn higher salaries compared to those in academia or non-profits.
Location: Salaries for economy majors can vary greatly depending on where you work. Major metropolitan areas or financial hubs like New York, London, and Toronto often offer higher salaries due to increased demand and higher living costs.
Job Role: Some roles in economics, like economists, financial analysts, or policy advisors, command higher salaries than others. Specialized positions that require technical expertise often pay more.
Education and Certifications: Advanced degrees, such as a Master’s or PhD in economics, can lead to higher-paying opportunities. Additionally, certifications in areas like financial analysis (CFA) or data analytics (like SQL or Python proficiency) can boost earning potential.

Salary by Experience

Experience is a crucial factor in determining salary. Here’s a breakdown of typical salaries based on years of experience:

Entry-Level (0-2 years): Economics majors just entering the job market typically earn $50,000 to $65,000 annually, depending on their role and industry.
Mid-Level (3-5 years): With a few years of experience, professionals can expect to earn $65,000 to $85,000, and the potential for salary growth continues as they gain more responsibility and experience.
Senior-Level (5+ years): Experienced professionals can earn $90,000 to $120,000 annually. Economists and senior financial analysts in top organizations can see salaries of $150,000 or more, especially if they specialize in high-demand areas like econometrics or financial modeling.

Job Market Trends in 2025

The demand for economists and related professionals is expected to continue growing in 2025 due to several key trends:

Increased Demand for Data Analytics: As more industries rely on data-driven decision-making, the demand for economists skilled in data analytics is rising. Understanding economic trends, big data, and machine learning can enhance earning potential in these roles.
Globalization of Economies: Economists who specialize in global markets, international trade, and policy analysis will continue to be in demand as businesses and governments seek professionals who understand the complexities of the global economy.
Technological Advancements: With the rise of artificial intelligence (AI) and automation, economists who can combine traditional economic analysis with new technologies will be highly sought after.

Benefits of an Economy Major Career

High Earning Potential: As seen from the salary ranges above, economics majors have the potential for lucrative earnings, particularly as they gain experience or specialize in high-demand sectors.
Job Stability: The demand for economic professionals remains strong in 2025, with plenty of job opportunities in both public and private sectors.
Diverse Career Paths: An economics degree opens doors to a wide range of careers, including roles in finance, government, policy analysis, academia, and business.
Intellectual Challenge: Economics majors enjoy solving complex problems and analyzing trends that shape the economy, making it an intellectually rewarding field.

Job Outlook for Economy Majors in 2025

The job outlook for economy majors is strong in 2025, driven by the growing importance of data, analytics, and economic expertise across various sectors. The U.S. Bureau of Labor Statistics forecasts a steady demand for economists and financial analysts over the next decade, particularly in finance, healthcare, and government sectors. Additionally, economists with expertise in data science or financial modeling will likely see increased opportunities and higher salaries.

Certifications and Education Impacting Salary

While a bachelor’s degree in economics is often sufficient to enter the field, higher education and certifications can significantly enhance earning potential:

Master’s or PhD: Advanced degrees in economics lead to higher-paying opportunities in research, academia, or senior-level roles in both private and public sectors.
Certified Financial Analyst (CFA): A CFA certification can be particularly beneficial for those entering finance or investment sectors, increasing credibility and salary potential.
Data Science and Analytics Certifications: Given the growing demand for data-driven economic analysis, certifications in data science, such as proficiency in Python, R, or SQL, are becoming increasingly valuable.

Conclusion

Economics remains one of the most versatile and financially rewarding fields to study in 2025. While salaries vary based on experience, location, and industry, an economics degree offers ample opportunities for career growth. With the right education, certifications, and specialization, economy majors can enjoy high-paying, stable careers that are in demand across the globe. Whether you choose a path in finance, government, or data analysis, the potential for success is significant.