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What does an Economist earn?
On average, economists earn around £48,871.84 per year in the UK. Economists study market activities and advise businesses and government bodies on financial decisions. They analyse trends, collect financial and socioeconomic data and build forecasting models to help others develop economic strategies.
How to earn more as an Economist
To be an economist, you will need a degree in statistics, mathematics, or similar. You can also complete a college course or a graduate training scheme. To earn more in this career path, you can work towards a senior role in a large organisation or set up your own business to become a consultant.
Min: £30,000.00 Max: £76,700.00
Average Economist Salary in UK : £48,871.84
Read about Economist salaries, related jobs and salary information across the UK
Economist Salary data from the ONS
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Median
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Age Group
Recommended Economist Jobs in UK
Average Salary for Economist compared to similar jobs
Related Jobs
View salaries for similar jobs.
| Job Title | UK Average |
|---|---|
| Finance Controller Salary in UK | £21,763.46 |
| Finance Manager Salary in UK | £23,551.28 |
| Finance Business Partner Salary in UK | £27,211.57 |
| Finance Officer Salary in UK | £32,962.08 |
| Branch Financial Manager Salary in UK | £40,210.25 |
| Costs Manager Salary in UK | £42,341.84 |
| Cash Manager Salary in UK | £42,604.76 |
| Financial Auditor Salary in UK | £47,228.48 |
| Financial Controller Salary in UK | £47,983.36 |
| Budget Manager Salary in UK | £51,247.84 |
| Risk Management Specialist Salary in UK | £52,296.44 |
| Financial Accounting Manager Salary in UK | £52,551.37 |
| Financial manager Salary in UK | £54,719.84 |
| Financial Regulator Salary in UK | £58,910.77 |
| Commercial Loan Officer Salary in UK | £59,529.00 |
Salary by Region
Compare Economist salaries across different regions
| Region | Salary |
|---|---|
| Scotland | £53,571.94 |
| Wales | £43,088.21 |
| Northern Ireland | £38,551.00 |
| East Midlands | £43,787.60 |
| Eastern | £36,849.92 |
| London | £51,322.78 |
| North East | £43,290.89 |
| North West | £46,865.50 |
| South East | £43,546.66 |
| South West | £43,216.33 |
| West Midlands | £83,206.80 |
| Yorkshire and the Humber | £42,383.00 |
Annual Job Ads by Region
Understanding the Average Economist Salary in the UK
As an economist in the UK, it is important to have a clear understanding of the average salary in this field. The average salary for economists in the UK is £48,900 per year. This figure can vary depending on factors such as experience, qualifications, and location. To get a better idea of the salary range for economists in the UK, you can refer to average Finance salaries.
Salary Expectations for Newly Qualified Economist
If you are a newly qualified economist in the UK, you may be wondering what salary you can expect. The starting salary for economists in the UK typically ranges from £30,000 to £76,700 per year. This can vary depending on the industry you work in and the location of your job. To explore job opportunities and find out more about the salary expectations for newly qualified economists, you can visit our job search page.
Salaries for Experienced Economist
For experienced economists in the UK, the salary range is generally higher than that of newly qualified economists. With several years of experience and a proven track record, you can expect to earn a salary ranging from £30,000 to £76,700 per year. The exact salary will depend on factors such as your level of expertise, the industry you work in, and the location of your job.
Creating an Economist CV
When applying for economist positions in the UK, it is crucial to have a well-crafted CV that highlights your skills and experience. To help you create a professional and effective CV, you can use our CV template. This template is specifically designed for economists and will guide you in showcasing your qualifications and achievements in the best possible way.
Career Development Opportunities for Economist
As an economist in the UK, there are various career development opportunities available to you. Whether you want to specialize in a specific area of economics or move into a managerial role, it is important to have a clear career path. To explore different career paths and get valuable career advice, you can visit our career advice section. This will provide you with insights and guidance on how to advance your career as an economist.
Comprehensive Compensation for Economist
As an economist in the UK, your compensation package may include more than just your salary. It is common for economists to receive additional benefits such as bonuses, pension schemes, and healthcare coverage. The comprehensive compensation package for economists can greatly enhance the overall value of your job. To learn more about the comprehensive compensation packages offered to economists in the UK, you can refer to our resources and industry insights.
Strategies for Increasing Your Salary as an Economist
If you are looking to increase your salary as an economist in the UK, there are several strategies you can employ. One approach is to continuously update your skills and knowledge through professional development courses and certifications. This will make you more valuable to employers and increase your earning potential. Additionally, networking and building strong professional relationships can open doors to higher-paying job opportunities. By staying proactive and continuously seeking growth opportunities, you can maximize your salary as an economist.
Professional Development and Earnings
Investing in your professional development as an economist can have a direct impact on your earnings. By staying up-to-date with the latest economic trends, theories, and methodologies, you can position yourself as an expert in your field. This expertise can lead to higher-paying job offers and consulting opportunities. Additionally, pursuing advanced degrees or certifications in economics can also significantly increase your earning potential. By continuously investing in your professional development, you can ensure long-term financial success as an economist in the UK.
Capitalizing on Extra Hours and Duties
As an economist in the UK, there may be opportunities to earn additional income by taking on extra hours or duties. Some economists choose to work on a freelance basis, offering their expertise to clients on a project-by-project basis. Others may take on teaching or consulting roles alongside their full-time job. By capitalizing on these extra hours and duties, you can boost your income and expand your professional network. However, it is important to strike a balance between your workload and personal life to avoid burnout.
