Pay for economists varies depending on experience, location, and the type of organisation they work for.
Graduate economists usually start on $40,000 to $65,000 a year.
Economists with two to five years' experience usually earn between $65,000 and $90,000.
Senior economists with over six years' experience may earn $90,000 to $114,000.
Pay for self-employed economists varies depending on the amount of work they get.
Economists in the private sector usually earn more than those in the public sector, and often earn bonuses and other benefits in addition to their salary.
Source : Business and Economic Research Limited (BERL), 2018; and Careers Directorate Tertiary Education Commission (TEC) research, 2018.
This information is a guide only. )
What you will do
Economists may do some or all of the following, depending on their area of specialisation :
collect, study and analyse information on the economy or a specific part of the economy
make predictions on the economy or parts of the economy based on their research
develop economic policies and plans
use computer software to predict economic behaviour
study and explain economic events
advise the Government and businesses
write reports and give presentations.
Skills and knowledge
Economists need to have knowledge of :
economic methods and theories
economic ideas and trends
maths, including statistics, for using methodologies to think about the world and specific issues.
usually work regular business hours, but sometimes have to work overtime to meet project deadlines
work in offices
may travel locally and around New Zealand to make presentations. They may also travel overseas to attend conferences or do contract work.
There are no specific requirements to become an economist. However, a Bachelor's degree in economics or maths may be useful, and a Master's degree in economics is preferred.
NCEA Level 3 is required to enter tertiary training. Useful subjects include English, economics, social studies, and maths.
Economists need to be :
accurate and organised
able to work well under pressure
able to keep information private
good at analysing and interpreting figures
excellent at communicating
excellent at problem-solving
able to write reports
able to present information.
Useful experience for economists includes :
work as a data analyst