Economist Salary in Mitchell, SD
How much does a economist make in Mitchell? Explore median, entry-level, and senior salaries adjusted for Mitchell's cost of living.
Salary Breakdown by Experience Level
See how economist salaries break down across different pay periods in Mitchell.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $36,646 | $61,841 | $84,745 |
| Monthly | $3,054 | $5,153 | $7,062 |
| Biweekly | $1,409 | $2,379 | $3,259 |
| Weekly | $705 | $1,189 | $1,630 |
| Hourly | $18 | $30 | $41 |
Mitchell vs National Average
How Mitchell's economist salaries compare to national figures.
Cost of Living in Mitchell
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 Mitchell, SD — Complete Guide
Median Salary Overview
The median salary for a economist in Mitchell, SD is $61,841 per year, adjusted for the local cost of living index of 82. This figure reflects typical earnings for experienced professionals in this role, considering Mitchell's unique economic conditions.
Salary Range and Experience Levels
Entry-level economist professionals in Mitchell can expect to earn around $36,646 annually. As professionals gain experience, salaries typically increase, with senior-level economists earning approximately $84,745 per year. This represents a 131% increase from entry to senior level.
Cost of Living Adjustment
Mitchell's cost of living index of 82 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Mitchell 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 Mitchell typically goes toward housing. With a 1-bedroom apartment averaging $680 per month, housing represents about 13.2% 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 Mitchell, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.