Economist Salary in Monroe, MI
How much does a economist make in Monroe? Explore median, entry-level, and senior salaries adjusted for Monroe's cost of living.
Salary Breakdown by Experience Level
See how economist salaries break down across different pay periods in Monroe.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $41,116 | $69,382 | $95,079 |
| Monthly | $3,426 | $5,782 | $7,923 |
| Biweekly | $1,581 | $2,669 | $3,657 |
| Weekly | $791 | $1,334 | $1,828 |
| Hourly | $20 | $33 | $46 |
Monroe vs National Average
How Monroe's economist salaries compare to national figures.
Cost of Living in Monroe
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 Monroe, MI — Complete Guide
Median Salary Overview
The median salary for a economist in Monroe, MI is $69,382 per year, adjusted for the local cost of living index of 82. This figure reflects typical earnings for experienced professionals in this role, considering Monroe's unique economic conditions.
Salary Range and Experience Levels
Entry-level economist professionals in Monroe can expect to earn around $41,116 annually. As professionals gain experience, salaries typically increase, with senior-level economists earning approximately $95,079 per year. This represents a 131% increase from entry to senior level.
Cost of Living Adjustment
Monroe's cost of living index of 82 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Monroe 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 Monroe typically goes toward housing. With a 1-bedroom apartment averaging $720 per month, housing represents about 12.5% 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 Monroe, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.