Economists Salary in Chicago, IL-IN

BLS Occupational Employment & Wage Statistics • May 2025 • Chicago-Naperville-Elgin, IL-IN

Median annual salary $123,140 +6.7% vs national
Median hourly $59.20
10th percentile $68,120
90th percentile $225,440
Employed locally 470
National median $115,440

Compare Economists salary & buying power

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Economists
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Chicago, IL-IN
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    Salary percentile breakdown

    10th
    $68,120
    25th
    $82,210
    50th (median)
    $123,140
    75th
    $168,230
    90th
    $225,440

    Chicago economic context

    Unemployment rate 5.10% 2024 annual avg • BLS LAUS
    Median household income $88,850 2023 • Census ACS
    Economists salary vs area income 139% Median Economists salary is 39% above the area median household income

    Top-paying metros for Economists

    Metro areaMedian salary
    New York-Newark-Jersey City, NY-NJ $168,850
    District of Columbia $162,610
    Washington-Arlington-Alexandria, DC-VA-MD-WV $157,980
    Virginia $148,010
    New York $142,300
    Maryland $137,610

    Nearby metros — Economists salary comparison

    Metro areaMedian salary
    Jacksonville, FL $136,990
    St. Louis, MO-IL $132,630
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $121,820
    Portland-Vancouver-Hillsboro, OR-WA $116,880
    Illinois $112,790
    Nashville-Davidson--Murfreesboro--Franklin, TN $111,830

    Related occupations in Chicago, IL-IN

    OccupationMedian salary
    Medical Scientists, Except Epidemiologists $78,560
    Clinical and Counseling Psychologists $98,240
    Chemists $100,720
    School Psychologists $80,600
    Occupational Health and Safety Specialists $98,780
    Physicists $131,260

    Frequently asked questions

    How much do Economists make per hour in Chicago?

    The median hourly wage for Economists in Chicago, IL-IN is $59.20, based on BLS OEWS 2025 data. Top earners (90th percentile) make $108.39 or more per hour.

    Is Chicago above or below average for Economists salaries?

    The median Economists salary in Chicago, IL-IN is 6.7% above the national median of $115,440. The national figure is from BLS OEWS 2025 data covering all US metropolitan areas.

    What is the entry-level salary for Economists in Chicago?

    Entry-level Economists (10th percentile) earn around $68,120 per year in Chicago, IL-IN. The 25th percentile — typically workers with 1–3 years of experience — earn approximately $82,210.