Salaries of Econ PhDs in the US
New Ph.D Hires in Economics: Expected and Actual Offers for the 2010-11 Academic Year
Last month Arkansas University published a survey on the labor market for new Ph.D hires in economics 2011 – 2012. The survey, which was featured in Greg Mankiw’s Blog, offered a comprehensive overview of expected and real salaries for new PH.D. hires, based on a questionnaire response from 191 US academic institutions.
According to the responses from 90 institutions, the average expected salary in 2011-2012 is $89,155, which is 1.8 % more than an actual offer in 2010-11. The average expected offer by Ph.D. degree granting institutions is $99,269 and $115,000 by Top 30 institutions, whereas an average expected offer by Bachelor and Master degree granting institutions is $74,520.
Based on data from the survey from last year, “ … all doctoral degree granting programs made actual offers 1.6 percent below what was expected, Top 30 institutions made actual offers 4.0 percent above what was expected, and the actual offers of Master and Bachelor degree granting schools were 2.0 percent below average expected values. For all 109 respondents, the average actual offer was below the average expected offer.”
Some of the institutions that participated in the survey offer additional support to their candidates, often including relocation allowances (90.8 %), housing allowances (7.8 %), TIAA-CREF retirement plan (88.3 %), full vesting (58.3 %), or no-cost life insurance (72.2%).
To see the full report, click here
Source: Graphs are based on Survey of the labor market for new PH.D. hires in economics 2011 – 12, Sam M. Walton College of Business, University of Arkansas
- Making Money With Your Degree
High-Salary Career Options for Economists
Before you start considering what crazy lucrative job you are going to get with your economics degree, consider this fact: a lot of rich people don’t like their money. Many complain about not knowing what to do with it all, yet simultaneously having huge anxiety they’ll lose it. They moan about their friends treating them like walking bank accounts, being judged for not looking the part, and no longer being able to visit - how to put it delicately? - less refined establishments.
- Online Education
From University Campus to Remote Education: How Steep is the Learning Curve?
Universities around the world are currently experiencing a crash course in online education. The coronavirus pandemic has shaken the sector in a big way, leaving professors and students struggling to complete the academic year off campus and having to prepare for the next one under very uncertain circumstances.
- Corona Live Feed
How the Coronavirus is Affecting Economics
15:00 8 June 2020 As some countries begin to loosen their lockdowns to varying degrees of success, many universities are still playing it on the safe side. The University of Surey, for example, has moved its CIMS summer school course online. This will be from the 7th to 12th of September 2020.