Economist salary phd reddit. Finance starting salaries are much, much higher than Econ.

Economist salary phd reddit I'm debating on getting a bachelor's in Environmental Economics or a Joint Honours of Economics and Environmental Studies (still figuring out the difference) With so many opportunities in the Economics field and salaries seeming to range a lot. Even the senior economists who earn ~ 200K have stayed 3 years as senior economists. Economics PhDs are one of the few doctoral degrees that still have high potential for a six-figure salary if you work in academia and especially if you work in the finance industry. PhD jobs were down 18% last year. These are net salaries, so they are fantastic. My plans are basically either econ or take my chances and go to an elite administrative academy where one could influence policy from the inside. I also like working at a research institute rather than a university, because then teaching becomes optional rather something you must do. Look under the Wiki of /r/economics "careers"; if you check all the boxes there for your application, you can't go wrong. We took a closer look at PhD in economics salaries, and here’s what we found: Early Career - $102,000 / year; Mid Career - $134,000 / year; Experienced - $150,000 / year; One problem is that PhD in economics salaries have high variance. I really don't mind what I do, but the salary is remarkably terrible. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The Fed employs about 450 PhD economists, mostly in money/macro, international finance, banking finance, and consumer finance. Took me about 3 months finding my first job. if you do a PhD on the economics of public transport, you could be hired to work on revamping the public transport system). Getting a PhD in Econ will not pigeon hole in necessarily. Generally speaking, an economics degree should be better because 1) economics has one of the "healthiest" job markets in academia (although heavily ranking-dependent) and 2) economics PhD opens up a lot of industry jobs, from consulting (e. Top 15 Best Paying Jobs For Economics Majors 2024 (Inc Salaries 1. If you are really good economist (i. Companies who pay people a lot of money want to hire a Stanford PhD. in environmental science involves studying the natural environment and conducting research about environmental issues like climate change. A salary is somewhere between 18-50k a year (better programs pay more, the ones that pay 18k tend to be in low cost of living areas). I imagine most people who graduate with an economics PhD pursue a career outside of tenure track positions, especially considering you can work at the Fed as well as NGOs while still doing research. GPA: 3. Good luck! Source: American Economic Association 2023–2024 Universal Academic Questionnaire Summary Statistics, AEA Papers and Proceedings 2024, 114: 712–716. Economist. In reality there aren't categories but sciences were you need a phd will pay less and social sciences pay garbage, rarely even e13 and never as much as 75. These are net Getting a fully-funded PhD in a field where PhDs do indeed lead to increased salaries, compared to sitting on your couch playing video games and wondering what to do We took a closer look at PhD in economics salaries, and here’s what we found: Early Career - $102,000 / year; Mid Career - $134,000 / year; Experienced - $150,000 / year; One problem is that PhD in economics salaries Economists’ core strength is in statistical modeling; thanks in part to the empirical turn in the profession since the 1990s, people with econ PhDs are some of the better applied statisticians out there. You should aim to have 2 letters from economics professors. They can struggle with academic conventions and expectations here in the UK. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. PHD is 5 years of your life, a massive amount of stress, and the time/money costs of preparing. Hello all, I my 2nd year of a PhD program. I am aware that switching from economics to sociology most likely means a pay cut in the future and I'm fine with that. This article will discuss both academic and non-academic (or “industry”) economists. To be honest, even with those salary differences I do sometimes wish I picked the compensation for Ph. First they teach you the theory behind economics in both macro and micro. You should aim to have 2 letters from But I would love to hear from someone who disagrees. You definitely want to get that quant up, 165 would be a nice minimum to reach, though 164 should still be fine, but you better have some fine application if applying to top 5 schools (though I guess there isn't one in NY). Rarely do you see people "place up" from PhD programs. The tech sector hiring bubble has burst, and a lot of colleges are under hiring embargoes after overspending during COVID. 16 votes, 33 comments. No one can tell you if a PHD in economics is worth it as it depends on individual specific preferences. As for the jobs, Ateneo's Economic degree is one of the best in the country. It can be hard to break into good money starting off. "- Glassdoor Guess as much. I submitted tons of job application (eg. As teachers, economists play an Getting to L7 in 6 years post phd also seems really really hard to me in FAANG where typical promo comitees would say this is too fast and not enough experience. This requires some luck. PhD's outside of education are a little more rare. While a graduate degree can significantly enhance your qualifications and open up more Thinking of becoming an Economist? Learn more about the role including reviews from current Economists tasks and duties, how much Economists earn in your state, the skills employers are looking for and career pathways. Ph. Glassdoor salaries are powered by However, if you are some PhD with 5 years from some other places, including academia, you come in as economist (F level) and negotiate of salary between 100K and 130K. I'm working retail management and currently make enough that taking an entry level position in my field of education (and what I actually want to do) would likely mean a pay cut. So, it depends on how economic you For non-PhD engineers, going from L3 (fresh out of college) to L5 is definitely not as easy. Not having a higher-level degree isn't problematic because they'll train you to be successful technically in your job. , economic-analysis-related jobs, financial risks, credit ratings and many others) during the last 6 months and got very few response. For guys who have a phd from a top program and you have some experience with all the DS stuff like sql, stats, ML and programming, you can start off with a total compensation >$200k/year. A PhD in Econ is a 3 part process. Please read the rules before posting, as we remove all comments which break the rules. There is a significant jump in Math, especially in macroeconomics. Opportunity cost: Masters is 1 to 2 years of life are the cost of tuition which could range in total from about 20,000 to over 100,000. Huge companies like Uber and Apple and big banks all have economist openings. Environmental science National average salary: $87,560 per year A Ph. Plus you got all the possible networks from your professors and friends so finding a good job might be the least of your worry. He went to Singapore, then Sri Lanka. Can't be mere economist salary. Chemists, Specificially the line that „economics doesn‘t really change policy“ (paraphrasing) hits hard. Mainly office based. students on 9-month appointments is lower than at NYU So I was reading the email in response to Katznelson’s email and they claimed that NYU PhD students are paid more. Basically when you have had no opportunity to grow. It's worthwhile if what you're interested in is academic research. Talk to your economics professors. 12 votes, 19 comments. Having said that, it's possible to make a starting PhD salary as a college graduate within 6 - 8 years so the monetary advantage of a PhD isn't obvious. He is now working/studying abroad. So they’re a perfect fit for The typical T. Half of those are at the Board in DC, the other half are scattered in the 12 regional banks' research departments across the country. Having hired people from academic posts the norm is certainly discounting non-industry experience heavily. Like I said, it depends on goals. McKinsey. /r/Statistics is going dark from June 12-14th as an act of protest against Reddit's treatment of 3rd party app developers. what is your starting salary? /r/Statistics is going dark from June 12-14th as an act of protest against Reddit's treatment of 3rd party app developers. Starting salary was around 30k that was 2014. I know of a many people who have started off with such salaries but it is not the norm. Economics grad here. Better than many private sector jobs as I have come to know. So, I had to live with that salary for 3 people, for the initial few months. Hey! Thank you for your answer! I am a fellow Eastern European, and yeah these salaries seem enourmous compared to what we can get at home. economists working in data science) tend to have significantly higher wages Related: 9 Careers After a PhD in Biology (With Salaries) 3. true. g. I am an economist. Academia the healthy-life-balance-9-5-edition. there will come a time towards end of your PhD program where you will have to choose academic life (which is always tentative, unless u luck out and get tenure, but likely not happening unless you go to top 5 school in your field) vs the underwhelming security of gov work. There are some who aren't up to doing the PhD and end up dropping out. Many Nov 25, 2024 · The average Economist base salary at US Census Bureau is $97K per year. I graduated 2017 with a BS in Economics. ). The main thing that you give up by being Read on to learn more about which employers pay economists the most, regional differences in economist salaries, and more. In computer science and engineering it is hard to find a position that does not pay 100%. Entry level phd economist (fr-28) makes 180k with locality, add a 20% bonus and you get to 200k "The typical Federal Reserve Board Senior Economist salary is $195,117 per year. My wife didn't have a job for 2 months. The average Economist salary in the United States is $126,246 as of December 01, 2024, but the salary range typically falls between $107,902 and $146,903. Finance (private sector). I like my job. Academic economists at PhD granting institutions play leading roles in the development of new ideas in economics and publish their work in journals like those published by the AEA. Finance starting salaries are much, much higher than Econ. This would amount to something like 5000 CHF when you do the math (3270*CH_conversion_rate + 500 + 600). The starting salary was 12000, and I have been working for this company for 1. Econ PhDs like candidates with strong math backgrounds. Regarding 'climbing the salary ladder', if you wish to stay in academia then you would need a PhD. McKinsey) to tech (Google). The private sector typically won't hire an 'economist' unless you have a masters/PhD in the field, but you may find work in the private sector as an analyst (I-III) and with relevant experience make the jump to economist. Mostly, people with a PhD finance (or financial economics) spend their time working on research for publication in journals like the Journal of Finance, the Review of 11 votes, 16 comments. They are all in the Bay Area where salaries are inflated. For example in Hungary I would earn the tenth of the Standard PhD salary (~ 340 chf), which is clearly not enough for make a decent living. With more The estimated total pay for a Graduate Economist is £33,576 per year, with an average salary of £31,589 per year. An Economist is a professional who studies and analyzes the production, distribution, and consumption of goods and services to understand and explain how economies function. I work at an economic research institute, doing economic research. 5 years, the salary does not change and it seems that it won't change in a couple of years. For a matter of comfort, I'd like to settle in a city where I can pursue my PhD there too, therefore, I'm wondering what could be the best departments of Economics in Europe for a PhD (especially renewed for Macroeconomics), excluding the UK Basically yes. That salary was enough for us to live a comfortable life, with good food, and clothes. Visit PayScale to research economist salaries by city, experience, skill, employer and more. I’ve seen a lot of job postings and posts here on Reddit that a starting salary for a ms grad is around 70-80k and around 80-110k after 4-5 years. Anyway, but in your post it seems like your salary is that of a normal PhD project in Switzerland, right? How is that even possible? Are all MSCA-ITN projects paid according to Swiss PhD salary pay or was yours an exceptional case? Lastly, you could find a very specific function related to your PhD subject (e. Many NL university postdoc salaries are not negotiable. Google professor salary and your local university to find it. 83. A little bit about my background: Did a BA in Economics in the US at a decent liberal arts school. You can see exactly what PhD's at public universities earn because it is all part of the public record. can hit AER-level journals consistently) the salary differential will go away over time. so there's an instrumental value to the PhD in that sense: it brightens your CV markedly and opens a lot of doors for you. Hi, I'm majoring in economics and I'm on a class about what economist do professionally speaking. Position titles across economic consulting firms vary widely. Private industry jobs (e. For many jobs labeled "Economist" you just need a masters, but the positions open to PhD's tend to be more varied and pay a bit better. The salaries on Glassdoor are pretty good to, average of $120k or so. They know what it takes to get into Economics PhD programmes. e. I have a close friend who is an Economics grad from UP. A terminal economics masters on your resume will probably not add much value to your future career aspects or salary. I work in the Big 4 and those firms place a lot of value on having a bachelors. I am a good student and I live in Europe in case that information helps. Outside academia (pharma, consultancy, independent research organisations), a PhD doesn't count for much. The day-by-day of these other options really depend on Sure - it was a few years ago that I interviewed at the Fed but the offer I got from the Board was $57k salary + $3k signing bonus. The estimated additional pay is £1,987 per year. I was wondering if you could tell me what my chances are for getting into top 20-30 Economics PhD programs in the US. It's about money 😞 Here is my perspective after graduating with an Econ PhD (2015). Now I'm in BPO working as a bilingual research analyst. I’m not saying it’s all about money but for perspective, you can get an MS, work for 5-10 years at a consulting firm, and be way ahead salary wise of a PhD economist at the Fed. The Americanized schools like the Stockholm School operate just like econ departments here in the states Places offer PhDs without funding as they want you to pay for it. We almost exclusively deal with matrix algebra at the PhD level in econometrics and macroeconomics. Difference in PhD in Europe vs USA Most of the time, you gotta pay for your own tuition, have to have a master first and the program only lasts three or more years. My general advice for masters degrees is to track down their placements* for the last ~3-5 years and work backwards from whether they're sending their students to the kinds of jobs that (to you) would justify whatever tuition you would be paying. Goldman Sachs, NASA, etc. Am I missing something here? Are Unemployment rates for PhD economists usually hover at around 1% and salaries are generally over 100,000 ( both stats are in the US, not sure about other countries, and the salaries are What are your experiences with finding industry jobs and their pay? I've heard a lot about how PhD is a bad decision, but I'm seeing lots of people with Econ PhDs at Amazon/Google/tech However, if you are some PhD with 5 years from some other places, including academia, you come in as economist (F level) and negotiate of salary between 100K and 130K. 25 votes, 15 comments. So if someone can answer Finance PhDs will command higher salaries 99% of the time and we are seeing the top econ PhD programs send a lot of job market candidates to the finance job market. This. . The economy affects everyone, so most companies are willing to pay top dollar for good economists. You can easily get an interview with your credentials for a GS-7 position and start working your way up the pay schedule. The wonderful part about economics is the vast applications of the theory and tools that you learn. I wanted your guys' input on whether I should apply for an economics PhD program. These top 10 schools pump out as many as 200 graduates a year combined, so most of the good academic jobs will go to one of these graduates. We never ate outside in a restaurant. My biggest problem is they use salary of fresh grads. Never liked the idea of settling down abroad so I have no idea about the job prospects there. TSE is fantastic if you do environmental or theory, if you do IO, you will most likely be better educated after a PhD than most US candidates that focus on IO. Whether you want to be in academia, public or private sector. A central repository for questions about economic theory, research, and policy. We have some self funding PhD students and they're all international students. If you do Macro, Warwick and UPF are fantastic, UPF even better (also good in timeseries). On the contrast, PhDs starting salary is easily around 130-160k starting and can approach 180 185 votes, 59 comments. View community ranking In the Top 5% of largest communities on Reddit. D. However, it’s important to keep in my that at this point your letters will be everything. For consulting, my first year salary was $75k, and my total compensation for my first year was about $100k when you include bonuses. The comp varies a lot because the stock appreciation plays a big role. You’re wasting your time then working for govt. I must have missed the part where she said she wanted to be an economist at the fed or at a think tank. Google wants Stanford PhDs, for example. Hi everybody, I'm looking at some European Universities where to start my MSc in Economics to get a solid foundation for an eventual PhD. In alignment with economic thinking, I should be considering whether or not the I am going into 2nd year at a well known University. The “Most Likely Range” reflects values within the 25th and 75th percentile of all pay data available for this role. I'm in a business school PhD program and take all of the classes that finance phd students take (I'm in Real Estate) so if you have specific questions feel free to message me. For example, if your initial salary was $120k cash and $130k stock, and the Your coursework puts you in an excellent position. students may study the challenges affecting humans, animals, plant Sep 24, 2024 · The average salary for an Economist in Philippines is ₱405,884 in 2025. The average additional pay is $0 per year, which could include cash bonus, stock, commission, profit sharing or tips. Zürich is worth considering (it is not the best, but at least they pay you are fortune). Many UK universities do not allow salary progression beyond entry-level without a PhD. These people are probably “passion workers” who want to stay in academia no matter what, leading to very inelastic demand for these positions. For many jobs, like jobs with the US federal government (which are typically open to just US citizens and nationals), you can either have a PhD or a masters and several years of experience. I suspect companies will pay new grads shit because they can get away with it. We didn't travel by train either. students may study the challenges affecting humans, animals, plant I want to do a PhD after that and my goal is to be a professor one day. After 3 - 5 years seems more appropriate. I was a teaching and research assistant for Economics. Econ is very hierarchical. Probably to the higher end of that scale. Last year's AACSB salary survey showed that the 90th percentile for Econ new hire assistant professors was about $115k but for finance it was right around $190k. Went into private equity research which surprisingly was not very number heavy bc all the models are spoonfed to us and we only needed to make minor tweaks to the assumptions :)) Pay was above average but I resigned after a year bc of long work hours. Apr 18, 2024 · Related: 9 Careers After a PhD in Biology (With Salaries) 3. I could save a few 100's euros too. But some would pay fresh grads even lower than that now so manage your expectations. Super dependent on the field. _This community will not grant access requests during the protest. For example at the UvA, within each faculty there are policies, like in social sciences postdocs are appointed at scale 11 with points based on years since PhD (natural sciences are at scale 10 I think). hrns ckdzafy chasoylj egwf imbju wru cqzkfn slbw eoeimk wckkp