Economist Salaries in Australia: What to Expect in 2024 

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Economist Salary in Australia

Becoming an economist is one of the most attractive positions for students who want to kick-start their initial career. Salaries for economists are very attractive all across the world, hence one major reason why most students wish to become economists. The profession of an economist is probably the most secure; as long as an economist has a license, they can be employed anywhere in the world. To know the details about the salary range, we will discuss and add the description of an economist’s salary in Australia on the basis of different parameters. For more information, read this article. 


Here are the Factors Affecting the Average Salary in Australia 2024

How Much Do Economists Make Australia?

The field of economics offers a promising career path in Australia, with a range of earning potential. On average, economists in Australia can expect a yearly salary of 152,900 AUD, which translates to a comfortable monthly income of 12,741 AUD.  However, it’s important to remember that experience and other factors can significantly impact your earning potential. Entry-level economists might start around 79,800 AUD annually (6,650 AUD monthly), while highly experienced professionals can reach 232,500 AUD a year (19,375 AUD monthly). This highlights the exciting potential for salary growth within the economics profession in Australia.

Salary figures are based on information that was posted on Indeed Salaries at the time of publication. The hiring organization, a candidate’s experience, education, and geography can all affect their salary.

Explore the Highest Paying Jobs in Australia

Experience Wise Economist Salary in Australia

Being an economist is an extremely fascinating experience overall, which makes every day challenging but rewarding. The pay based on experience level is mentioned here. 

economist salary in australia

Education Wise Economist Salary in Australia

A bachelor’s or master’s degree in the same subject is required of applicants hoping to work as economists. Some of the courses people can choose from to become economists and get a decent compensation package are listed below.

Education LevelAverage Salary Per Year 
Bachelor’s Degree103,600 AUD
Master’s Degree164,100 AUD
PhD212,500 AUD

Check the Detailed Guide on Highest Paying Part-Time Jobs in Australia

Company Wise Economist Salary in Australia

A thorough breakdown of the economist’s pay based on Australia’s numerous organizations is provided below. 

Companies Average Salary Per Year 
Reserve Bank of Australia96,600 AUD
State of Victoria Department of Treasury & Finance88,222 AUD
Australian Government Department of the Treasury112,667 AUD
Deloitte79,667 AUD 
NSW Government99,927 AUD 
Australian Taxation Office85182 AUD 
Australian Government119,012 AUD 
New South Wales Government103,106 AUD 
Australian Government Department of Industry, Science, Energy and Resources89,000 AUD
BIS Oxford Economics76,320 AUD 
Department of Jobs, Precincts and Regions94,270 AUD 
Commonwealth Bank of Australia111,667 AUD 
Queensland Government88,000 AUD 
ACT Government99,226 AUD
Australian Securities & Investments Commission115,000 AUD
KPMG95,000 AUD-113,000 AUD
Jacobs62,000 AUD-70,000 AUD
South West Sydney Local Health District134,000 AUD-143,000 AUD
RPS Group78,000 AUD-74,000 AUD 
Queensland Treasury86,000 AUD-99,000 AUD
CSIRO80,000 AUD-128,000 AUD 

City Wise Economist Salary in Australia

Mentioned below is a detailed description of the Economist’s Salary based on the various highest-paying cities in Australia 

economist salary in australia

Different Position Similar to Economist in Australia

The following is a comprehensive overview of the Australian Economist’s Salary according to Position.

Job Roles Average Salary Per Year 
Economic Analyst99,305 AUD 
Economic Consultant83,653 AUD 
Research Associate93,310 AUD 
Economic Assistant64,564 AUD 
Policy Analyst110,658 AUD 
Research Analyst82,994 AUD
Professor166,763 AUD
Policy Officer108,675 AUD
Economist85,000 AUD
Economic Analyst75,000 AUD
Junior Economist62,112 AUD
Senior Economist119,109 AUD

Explore the Part-Time Jobs Melbourne: Best Jobs, Salary, Top Recruiters


Are economists in demand in Australia?

After graduation, economics students are in great demand, particularly those with honors degrees. Economists’ beginning incomes are comparable to those of most other business graduates, although they often rise at a faster rate.

Are economists highly paid?

Economists research the creation and allocation of wealth. They create and assess policies and forecast the direction of the economy using their understanding of economics. Entry-level economists can make between Rs 6 and Rs 12 lakhs annually.

Is economics a good career in Australia?

Obtain a degree in economics to maximize your earning potential and career. The Reserve Bank of Australia demonstrates in its paper “Does It Pay to Study Economics?” that graduates in economics fetch high incomes that outpace those of most other areas.

This is all the information about the Average Economist Salary in Australia, for more information on salary articles follow Leverage Edu and Jobs Abroad page for Job update

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