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For Educators: Military Resources
For Educators: Military Resources

Overview

What are the responsibilities of this role?

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 sectors do they work in?

Private for profit

37%

Federal Government

29%

State and local government

15%

Private not for profit

14%

Self-employed

4%

What is the job outlook?

Employment of economists is projected to grow 5 percent from 2023 to 2033, about as fast as the average for all occupations. About 1,000 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

Compensation

What is the typical salary range?

$38,520

10%

$115,730

Median

$158,830

90%

How does location impact how much salary?

Education

What level of education do professionals in this role have?

Education Level

  • Master's degree

    50%

  • Doctoral degree

    25%

  • Bachelor's degree

    20%

  • Post-doctoral training

    4%

Which college majors best prepare you for this role?

  • Business/Managerial Economics
  • Economics, General
  • Econometrics and Quantitative Economics
  • Applied Economics
  • Agricultural Economics
  • Financial Mathematics
  • Environmental/Natural Resource Economics
  • Political Economy
  • Philosophy, Politics, and Economics
  • Development Economics and International Development
  • Economics, Other
  • International Economics
  • Pharmacoeconomics/Pharmaceutical Economics
  • Economics and Computer Science
  • Mathematical Economics
  • Economics and Foreign Language/Literature

Skills and Interest

Which skill sets are the most valuable to possess?

Skills

  • Verbal Skills

    High

  • Math and Science Skills

    High

  • Critical Thinking and Problem Solving

    High

  • Leadership

    Mid

  • Technology Design and Control

    Mid

  • Equipment Operation and Maintenance

    Low

What knowledge should you bring to the table?

  • Mathematics
  • Economics and Accounting
  • English Language
  • Computers and Electronics
  • Education and Training

What challenges will you likely face in the workplace?

Workplace

  • Level Of Competition

    High

  • Exposure to Job Hazards

    Low

  • Time Pressure

    Low

  • Repetitiveness

    Low

  • Responsibility

    Low

  • Decision Making

    Low

  • Physical Activity

    Low

What personality traits help people thrive in this role?

Investigative

You love figuring out how things work and researching subjects that interest you.

Conventional

You like structure, staying organized, and working with systems to get things done efficiently.

Enterprising

You love taking risks in business or personal projects — and have the leadership skills to back it up.

RIASEC represents six broad interest areas—Realistic, Investigative, Artistic, Social, Enterprising, and Conventional—helping individuals identify careers that match their skills and preferences.

Take the RIASEC Test

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Data supplied by Bureau of Labor Statistics, National Center of Education Statistics, Defense Manpower Data Center (View our update schedule). Contact any business, college or military service branch to answer additional questions.