The INOMICS Salary Report 2018 provides a key understanding of the average salary levels for economists in both academia and the private sector. The findings should be helpful to give a general understanding for those considering an academic or private sector career in economics.
Key findings include:
The highest average salaries for almost all positions in both academia and the private sector, are in the United States of America, Switzerland and in Canada.
Both in academia and the private sector a "glass ceiling", making it difficult for female economists to get into senior positions, was observed.
When comparing 2017 to 2016, in academia, a positive tendency towards less gender pay gap worldwide was observed for several positions, particularly PhD candidates and full professors.
In 2017, bachelor’s and master’s degree holders earned 35% and 27% more, respectively, than in 2016.