Business & Finance Springfield, IL Pop. 114,394

Economist Salary in Springfield, Illinois

The median economist salary in Springfield, IL is $103,685 per year, which is 9% below the national median and 9.9% below the Illinois state average.

City Median
$103,685
vs State Avg
$-11,394
vs National
$-10,255
Cost of Living
85%

Economist Pay in Springfield: What to Expect (2026)

Springfield offers a median economist salary of $103,685, which is $11,394 below the Illinois state average of $115,079. Compared to the national median of $113,940, Springfield pays below the national benchmark for this role.

One of Springfield's biggest advantages is its low cost of living at 85% of the national average. This means the $103,685 salary stretches further here — equivalent to roughly $121,982 in an average-cost city. This makes Springfield an attractive option for economists seeking strong real-dollar compensation.

The salary range for economists in Springfield spans from $56,420 at the 10th percentile to $180,180 at the 90th percentile — a $123,760 spread. Entry-level professionals start around $59,150, while senior economists with 8+ years of experience can earn up to $168,350. With a population of 114,394, Springfield is a mid-sized metro with a growing job market.

Economist Salary in Springfield by Experience

In Springfield, an entry-level economist earns around $59,150, while experienced professionals earn up to $168,350 per year. The local cost of living index is 85% of the national average.

Entry Level (0-2 yrs)
$59,150
$-5,850 vs national
Mid Level (3-7 yrs)
$104,650
$-10,350 vs national
Senior Level (8+ yrs)
$168,350
$-16,650 vs national

Salary Percentiles in Springfield, IL

Percentile Springfield
10th Percentile $56,420
25th Percentile $74,620
Median (50th) $103,685
75th Percentile $141,050
90th Percentile $180,180

Economist Salary in Other Illinois Cities

Naperville, IL
$129,892
Pop. 149,540
Chicago, IL
$128,752
Pop. 2,693,976
Aurora, IL
$115,079
Pop. 197,757
Rockford, IL
$100,267
Pop. 148,655

How to Become a Economist in Springfield

Education

Most economist positions require a master's degree. Springfield and the surrounding Illinois area have institutions offering relevant programs.

Key Skills

EconometricsStatistical AnalysisR/PythonEconomic ModelingResearch MethodsPolicy Analysis

Job Outlook

Nationally, economist employment is projected to grow 6% over the next decade (faster than average). Demand in Springfield may vary based on local industry and population growth.

Find Economist Jobs in Springfield

Browse open economist positions in Springfield, IL:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Economist Salary in Springfield

How much does a Economist make in Springfield, IL? ▼
The median economist salary in Springfield, Illinois is $103,685 per year, which is 9% below the national median of $113,940. Salaries range from $56,420 (10th percentile) to $180,180 (90th percentile).
How much does a Economist make per hour in Springfield? ▼
Based on the median annual salary of $103,685, a economist in Springfield earns approximately $50 per hour assuming a standard 2,080-hour work year.
How does Springfield compare to the Illinois state average for economist pay? ▼
Springfield's median economist salary of $103,685 is 9.9% below the Illinois state average of $115,079. The local cost of living index is 85% of the national average.
What is the cost of living in Springfield, IL? ▼
Springfield has a cost of living index of 85% compared to the national average. This means a economist salary of $103,685 in Springfield has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a economist in Springfield? ▼
Most economist positions in Springfield require a master's degree. Key skills include Econometrics, Statistical Analysis, R/Python, Economic Modeling. The job market is projected to grow 6% nationally over the next decade.