Economist Salary in Minnesota
Based on 500+ workers in Minnesota
Median Annual Salary (MN)
$105,120
$50.54/hr
vs National Average
$111,296
-5.5% vs national median
Salary Range (10th–90th)
$58K – $198K
500 employed in Minnesota
The median economist salary in Minnesota is $105,120 per year, with approximately 500 economists employed throughout the state. This figure falls about 6% below the national average, reflecting regional economic differences. Salaries in the field range from $58,380 to $197,870 annually, demonstrating significant variation based on individual circumstances and career stage.
Several factors influence economist salary in Minnesota, including education level, years of experience, employer type, and industry sector. Economists working in government, research institutions, or large corporations typically earn more than those in smaller organizations. Advanced degrees and specialized expertise in areas like policy analysis or data science can also lead to higher compensation within the state's job market.
Salary Distribution — Economist in Minnesota
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $58,380 |
| 25th percentile | $63,980 |
| Median (50th percentile) | $105,120 |
| 75th percentile | $142,460 |
| 90th percentile | $197,870 |
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 Minnesota 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 Minnesota vs National
| Year | Median Salary (Minnesota) |
|---|---|
| 2022 | $93,660 |
| 2023 | $97,020 |
| 2024 | $107,470 |
| 2025 | $105,120 |
| 2026 (projected) | $105,120 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Minnesota Median | National Median |
|---|---|---|
| 2022 | $93,660 | $96,369 |
| 2023 | $97,020 | $98,241 |
| 2024 | $107,470 | $102,371 |
| 2025 | $105,120 | $111,296 |
| 2026 (projected) | $105,120 | $111,296 |
Economist Salary by Experience Level in Minnesota
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $63,980 |
| Mid-level | 3-5 yrs | $105,120 |
| Senior | 6-9 yrs | $142,460 |
| Staff / Lead | 10+ yrs | $197,870 |
Economist Salary in Other States
Related Economist Salaries in Minnesota
How other high-demand occupations in Minnesota compare to Economist ($105,120 median).
| Occupation | Median Salary | vs Economist | Hourly |
|---|---|---|---|
| Financial Manager in MN | $163,410 | +55.5% | $78.56/hr |
| Actuary in MN | $128,100 | +21.9% | $61.59/hr |
| Financial Examiner in MN | $104,260 | -0.8% | $50.13/hr |
| Financial Analyst in MN | $102,990 | -2.0% | $49.51/hr |
| Personal Financial Advisor in MN | $102,660 | -2.3% | $49.36/hr |
| Loan Officer in MN | $95,170 | -9.5% | $45.75/hr |
| Budget Analyst in MN | $85,970 | -18.2% | $41.33/hr |
| Compliance Officer in MN | $85,920 | -18.3% | $41.31/hr |
| Securities Sales Agent in MN | $83,350 | -20.7% | $40.07/hr |
| Tax Examiner in MN | $83,280 | -20.8% | $40.04/hr |
| Credit Analyst in MN | $82,630 | -21.4% | $39.73/hr |
| Accountant in MN | $81,600 | -22.4% | $39.23/hr |
Frequently Asked Questions
How much do economists make in Minnesota?
- The median salary for economists in Minnesota is $105,120 per year, or $51 per hour. This is about 5.5% below the national average for economists.
What is the salary range for economists in Minnesota?
- Economist salaries in Minnesota range from $58,380 at the lower end to $197,870 at the higher end, representing significant variation based on experience and specialization.
Is the economist salary in Minnesota higher or lower than the national average?
- Economist salaries in Minnesota are 5.5% lower than the national average, with the median at $105,120 compared to higher national figures.
How many economists are employed in Minnesota?
- There are approximately 500 economists currently employed in Minnesota according to recent employment data.