Business & Finance Newark, NJ Pop. 311,549

Economist Salary in Newark, New Jersey

The median economist salary in Newark, NJ is $136,728 per year, which is 20.0% above the national median and 2.4% below the New Jersey state average.

City Median
$136,728
vs State Avg
$-3,418
vs National
+$22,788
Cost of Living
112%

Economist Pay in Newark: What to Expect (2026)

Newark offers a median economist salary of $136,728, which is $3,418 below the New Jersey state average of $140,146. Compared to the national median of $113,940, Newark pays above average for this role.

However, Newark's cost of living index is 112%, significantly above the national average. After adjusting for local costs, the $136,728 salary has an effective purchasing power of approximately $122,079. Housing, transportation, and food costs in Newark should be factored into any relocation or job-change decision.

The salary range for economists in Newark spans from $74,400 at the 10th percentile to $237,600 at the 90th percentile — a $163,200 spread. Entry-level professionals start around $78,000, while senior economists with 8+ years of experience can earn up to $222,000. With a population of 311,549, Newark is a mid-sized metro with a growing job market.

Economist Salary in Newark by Experience

In Newark, an entry-level economist earns around $78,000, while experienced professionals earn up to $222,000 per year. The local cost of living index is 112% of the national average.

Entry Level (0-2 yrs)
$78,000
+$13,000 vs national
Mid Level (3-7 yrs)
$138,000
+$23,000 vs national
Senior Level (8+ yrs)
$222,000
+$37,000 vs national

Salary Percentiles in Newark, NJ

Percentile Newark
10th Percentile $74,400
25th Percentile $98,400
Median (50th) $136,728
75th Percentile $186,000
90th Percentile $237,600

Economist Salary in Other New Jersey Cities

Jersey City, NJ
$154,958
Pop. 292,449
Edison, NJ
$140,146
Pop. 107,588
Elizabeth, NJ
$132,170
Pop. 137,298
Paterson, NJ
$128,752
Pop. 159,732

How to Become a Economist in Newark

Education

Most economist positions require a master's degree. Newark and the surrounding New Jersey 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 Newark may vary based on local industry and population growth.

Find Economist Jobs in Newark

Browse open economist positions in Newark, NJ:

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Frequently Asked Questions: Economist Salary in Newark

How much does a Economist make in Newark, NJ? ▼
The median economist salary in Newark, New Jersey is $136,728 per year, which is 20.0% above the national median of $113,940. Salaries range from $74,400 (10th percentile) to $237,600 (90th percentile).
How much does a Economist make per hour in Newark? ▼
Based on the median annual salary of $136,728, a economist in Newark earns approximately $66 per hour assuming a standard 2,080-hour work year.
How does Newark compare to the New Jersey state average for economist pay? ▼
Newark's median economist salary of $136,728 is 2.4% below the New Jersey state average of $140,146. The local cost of living index is 112% of the national average.
What is the cost of living in Newark, NJ? ▼
Newark has a cost of living index of 112% compared to the national average. This means a economist salary of $136,728 in Newark has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a economist in Newark? ▼
Most economist positions in Newark 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.