[OPE] Dream of globalisation

US Economists held about 15,000 jobs in 2006. Government employed 52 percent of economists, in a wide range of agencies, with 32 percent in Federal Government and 20 percent in State and local government. The remaining jobs were spread throughout private industry, particularly in scientific research and development services and management, scientific, and technical consulting services. A number of economists combine a full-time job in government, academia, or business with part-time or consulting work in another setting. (...) Median annual wage and salary earnings of economists were $77,010 in May 2006. The middle 50 percent earned between $55,740 and $103,500. The lowest 10 percent earned less than $42,280, and the highest 10 percent earned more than $136,550. In the Federal Government, the starting salary for economists having a bachelor's degree was $35,752 in 2007. Those having a master's degree could qualify for positions with an annual salary of $43,731. Those with a Ph.D. could begin at $52,912, and some individuals with experience and an advanced degree could start at $63,417. Starting salaries were higher in selected geographical areas where the prevailing local pay was higher. The average annual salary for economists employed by the Federal Government was $94,098 a year in 2007. http://www.bls.gov/oco/ocos055.htm

However, many economics graduates are not employed as economists, but in related fields such as business management. In this sense, an economics degree still has a fairly good or even lucrative earnings potential, on average.

In the Netherlands, a starting economics graduate (five years study) would earn on average about US$37,000 and a financial economist would average about US$50,000.

Personally I earn about $35,000 gross or about $25,000 after tax (excluding some small tax credits) until I get laid off, so if I wanted to capitalize on my degrees I'll have to try something different.

Jurriaan

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Received on Wed Nov 12 13:56:40 2008