Economist Salary in Groton, CT
How much does a economist make in Groton? Explore median, entry-level, and senior salaries adjusted for Groton's cost of living.
Salary Breakdown by Experience Level
See how economist salaries break down across different pay periods in Groton.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $70,742 | $119,377 | $163,591 |
| Monthly | $5,895 | $9,948 | $13,633 |
| Biweekly | $2,721 | $4,591 | $6,292 |
| Weekly | $1,360 | $2,296 | $3,146 |
| Hourly | $34 | $57 | $79 |
Groton vs National Average
How Groton's economist salaries compare to national figures.
Cost of Living in Groton
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
Compare Cities: Economist Salary
See Economist salaries in other top cities.
Financial Tools to Explore
Use these Pulsafi calculators to understand your finances based on a economist salary in Groton.
Salary Breakdown Calculator
See exactly how your salary breaks down into taxes and take-home pay.
Cost of Living Calculator
Understand your expenses and purchasing power in Groton.
Budget Calculator
Create a personalized budget based on your income and expenses.
Rent vs Buy Calculator
Compare the true costs of renting versus buying in Groton.
Economist Salary in Groton, CT — Complete Guide
Median Salary Overview
The median salary for a economist in Groton, CT is $119,377 per year, adjusted for the local cost of living index of 110. This figure reflects typical earnings for experienced professionals in this role, considering Groton's unique economic conditions.
Salary Range and Experience Levels
Entry-level economist professionals in Groton can expect to earn around $70,742 annually. As professionals gain experience, salaries typically increase, with senior-level economists earning approximately $163,591 per year. This represents a 131% increase from entry to senior level.
Cost of Living Adjustment
Groton's cost of living index of 110 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Groton 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 Groton typically goes toward housing. With a 1-bedroom apartment averaging $1,200 per month, housing represents about 12.1% 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 Groton, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.