Economics Teachers, Postsecondary Salary Guide 2025: $123,920 Median
Economics professors earn a median $123,920 per year, according to the latest BLS data. That’s about $60 an hour. The top 10% bring in over $224,200, while those just starting out or at smaller schools average around $64,060. With only 11,560 positions nationwide, it’s a small but stable field.
How much Economics Teachers, Postsecondary earn
The median annual wage for postsecondary economics teachers is $123,920, but pay varies widely. The bottom 10% earn $64,060 or less, while the top 10% earn $224,200 or more. The mean salary is $138,850, reflecting that many professors are at the high end.
Most economics professors work at colleges and universities. Pay tends to be higher at research universities and lower at community colleges. Experience, tenure, and publications also influence earnings.
Pay by state
Where you teach matters. The highest-paying state is New Hampshire at $201,610, followed by Massachusetts ($164,410), District of Columbia ($161,860), Connecticut ($155,950), and California ($137,360).
On the lower end, South Dakota pays $85,700, Iowa $85,090, and Arkansas $76,610. These differences reflect cost of living, state funding, and the concentration of elite institutions.
How to become Economics Teachers, Postsecondary
The standard path is a Ph.D. in economics, which typically takes 5–6 years after a bachelor’s. Some community colleges hire master’s degree holders, but most four-year universities require a doctorate.
During grad school, you’ll need teaching assistantships and eventually your own courses. Post-Ph.D., you apply for assistant professor jobs. Strong research publications and teaching evaluations are key. No licensing or certification is required, but a record of research is essential for tenure-track roles.
- Earn a bachelor’s in economics or a related field (strong math background).
- Complete a Ph.D. in economics (5–6 years; dissertation on a specialized topic).
- Gain teaching experience as a TA or instructor during grad school.
- Publish research in academic journals to build your CV.
- Apply for assistant professor positions at colleges and universities.
Job outlook
Employment of postsecondary economics teachers is projected to grow 2.1% from 2024 to 2034, about as fast as the average for all occupations. That translates to roughly 1,200 openings per year, mostly to replace retiring professors. Competition is stiff at research universities, but community colleges may have more slots.
Frequently asked questions
What is the salary of an Economics Teacher, Postsecondary?
The national median is $123,920 per year. The typical range is $64,060 (10th percentile) to $224,200 (90th percentile). Source: BLS.
What degree do you need to be a college economics professor?
A Ph.D. in economics is standard for tenure-track positions at four-year colleges and universities. A master’s may be sufficient for some community colleges.
Is there demand for economics professors?
Moderate. BLS projects 2.1% growth (as fast as average) with about 1,200 openings each year. Competition is strong at top schools.
Which states pay the most for economics professors?
New Hampshire ($201,610), Massachusetts ($164,410), District of Columbia ($161,860), Connecticut ($155,950), and California ($137,360) top the list.
Salary figures are U.S. Bureau of Labor Statistics estimates (OEWS / Employment Projections). For informational purposes only; not career or financial advice. See the full Economics Teachers, Postsecondary data.