Economist Salary in Cape May, NJ
How much does a economist make in Cape May? Explore median, entry-level, and senior salaries adjusted for Cape May's cost of living.
Salary Breakdown by Experience Level
See how economist salaries break down across different pay periods in Cape May.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $78,481 | $132,437 | $181,488 |
| Monthly | $6,540 | $11,036 | $15,124 |
| Biweekly | $3,019 | $5,094 | $6,980 |
| Weekly | $1,509 | $2,547 | $3,490 |
| Hourly | $38 | $64 | $87 |
Cape May vs National Average
How Cape May's economist salaries compare to national figures.
Cost of Living in Cape May
About Economist
Overview
Research economic data and trends to inform policy and business decisions.
Education
Bachelor's degree in Economics; Master's or PhD common for research roles
Key Skills
Growth Rate
Expected job growth: +17% over the next decade
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Economist Salary in Cape May, NJ — Complete Guide
Median Salary Overview
The median salary for a economist in Cape May, NJ is $132,437 per year, adjusted for the local cost of living index of 120. This figure reflects typical earnings for experienced professionals in this role, considering Cape May's unique economic conditions.
Salary Range and Experience Levels
Entry-level economist professionals in Cape May can expect to earn around $78,481 annually. As professionals gain experience, salaries typically increase, with senior-level economists earning approximately $181,488 per year. This represents a 131% increase from entry to senior level.
Cost of Living Adjustment
Cape May's cost of living index of 120 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Cape May are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $91,970, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a economist's salary in Cape May typically goes toward housing. With a 1-bedroom apartment averaging $1,500 per month, housing represents about 13.6% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Economists are in growing demand across the United States, with an expected job growth of 17% over the next decade. In Cape May, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.