Economist Salary in Maryland
Based on 1K+ workers in Maryland
Median Annual Salary (MD)
$144,680
$69.56/hr
vs National Average
$111,296
+30.0% vs national median
Salary Range (10th–90th)
$94K – $195K
1K employed in Maryland
Economists working in Maryland earn a median salary of $144,680 per year, positioning the state well above the national average at 30% higher. With approximately 1,130 economists employed throughout Maryland, this represents a competitive compensation level for professionals in this field. The salary range spans from $93,710 to $195,190 annually, reflecting variation based on experience and specialization.
Economist salary in Maryland is influenced by several key factors, including years of experience, educational attainment, and specific industry focus. The state's concentration of federal agencies, research institutions, and policy organizations in the Washington, D.C. corridor contributes to higher demand and compensation for economic expertise. Additionally, individual qualifications, employer type, and geographic location within Maryland can significantly impact earning potential in this profession.
Salary Distribution — Economist in Maryland
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $93,710 |
| 25th percentile | $118,460 |
| Median (50th percentile) | $144,680 |
| 75th percentile | $178,780 |
| 90th percentile | $195,190 |
Top-Paying Industries for Economist (U.S.)
Which industries pay Economists the most — nationwide figures (industry-level data is not available by state). Economists in Maryland tend to follow these industry patterns.
| Industry (U.S.) | Median Salary | Employed (U.S.) |
|---|---|---|
| Mining, Quarrying, and Oil and Gas Extraction | $210,780 | 30 |
| Wholesale Trade | $207,400 | 40 |
| Manufacturing | $180,320 | 90 |
| Finance and Insurance | $173,990 | 2K |
| Management of Companies and Enterprises | $160,150 | 170 |
Source: U.S. BLS OEWS National Industry-Specific estimates, May 2025. National figures (not state-specific).
Historical Salary Trend — Economist in Maryland vs National
| Year | Median Salary (Maryland) |
|---|---|
| 2022 | $124,610 |
| 2023 | $134,410 |
| 2024 | $137,610 |
| 2025 | $144,680 |
| 2026 (projected) | $152,113 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Maryland Median | National Median |
|---|---|---|
| 2022 | $124,610 | $96,369 |
| 2023 | $134,410 | $98,241 |
| 2024 | $137,610 | $102,371 |
| 2025 | $144,680 | $111,296 |
| 2026 (projected) | $152,113 | $117,014 |
Economist Salary by Experience Level in Maryland
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $118,460 |
| Mid-level | 3-5 yrs | $144,680 |
| Senior | 6-9 yrs | $178,780 |
| Staff / Lead | 10+ yrs | $195,190 |
Economist Salary in Other States
Related Economist Salaries in Maryland
How other high-demand occupations in Maryland compare to Economist ($144,680 median).
| Occupation | Median Salary | vs Economist | Hourly |
|---|---|---|---|
| Financial Manager in MD | $158,750 | +9.7% | $76.32/hr |
| Actuary in MD | $126,950 | -12.3% | $61.03/hr |
| Budget Analyst in MD | $106,020 | -26.7% | $50.97/hr |
| Financial Examiner in MD | $102,980 | -28.8% | $49.51/hr |
| Tax Examiner in MD | $101,400 | -29.9% | $48.75/hr |
| Financial Analyst in MD | $100,370 | -30.6% | $48.25/hr |
| Personal Financial Advisor in MD | $99,880 | -31.0% | $48.02/hr |
| Accountant in MD | $89,370 | -38.2% | $42.97/hr |
| Compliance Officer in MD | $84,720 | -41.4% | $40.73/hr |
| Credit Analyst in MD | $75,390 | -47.9% | $36.25/hr |
| Loan Officer in MD | $73,580 | -49.1% | $35.38/hr |
| Securities Sales Agent in MD | $61,660 | -57.4% | $29.64/hr |
Frequently Asked Questions
How much do economists make in Maryland?
- Economists in Maryland earn a median salary of $144,680 per year, which translates to approximately $70 per hour. This is 30% higher than the national average for the profession, making Maryland a well-paid state for economists.
What is the salary range for economists in Maryland?
- The salary range for economists in Maryland spans from $93,710 at the lower end to $195,190 at the higher end. This wide range reflects differences in experience, education, and specific employer sectors.
Is Maryland a good state for economist salaries compared to the national average?
- Yes, Maryland offers significantly competitive economist salaries, with the median at $144,680 being 30% above the national average. This makes Maryland an attractive location for economists seeking above-average compensation.
How many economists are employed in Maryland?
- There are approximately 1,130 economists employed in Maryland. This represents a substantial job market for professionals in this field within the state.