Business Economics Career Center

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Below are links to profiles of some of our members, who work in diverse fields in organizations around the world. Find out how they got started in their careers, and check out some of the other features of the website that can help you in your career.

Profiles of people who use economics in their work

 

Salary Survey Highlights

NABE conducts a biennial salary survey. While the full results are for members only, entry level salary information, and highlights from the 2014 survey, are listed here.

Highlights

 

Compensation by Years of Experience

As might be expected, there is generally a direct correlation between experience and income. Income for those NABE members who have a year or less experience garnered the lowest median base salary—$58,000; those with 30 or more years reported the highest ($165,000). Base salary tends to rise steadily with years of experience until the 20-to-24- year mark. Data show that median base salary then declines slightly before increasing again. Those survey respondents with 25 to 29 years of work experience reported the largest amount of additional gross compensation. In fact, there was almost no difference in total compensation medians for workers with 20 to 24, 25 to 29, or 30 to 34 years of work experience.

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Compensation by Education

The educational level of respondents to the various NABE salary surveys has been fairly stable, with the share of respondents reporting an advanced degree (higher than a bachelor’s) remaining in the 90-94 percent range for the past eight surveys. That pattern has continued in the current survey, as 91 percent of survey participants indicated they hold some sort of post-graduate degree. Perhaps not surprisingly, those NABE members with more advanced degrees command higher compensation, and with each additional advanced degree, median base salary rises. Respondents with PhDs received a median base salary higher than that of all other respondents—those with a bachelor’s degree, a master’s or an MBA, or an ABD (all but dissertation). Those with ABDs earned almost twice the median base salary of those with just an undergraduate degree ($137,500 vs. $71,400). Undergraduate and ABD degree holders saw their median base salaries decline from two years ago. For those with just a bachelor’s degree, the decline was small—about one percent. But the median base salary of ABD holders decreased by 13 percent. All other categories reported increased base salaries. Those with an undergraduate or ABD also earned less additional gross compensation than did others with post-graduate degrees. Holding an MBA seems to have more potential in terms of earning additional gross compensation, with MBAs garnering a median of $50,000 in additional gross compensation. 

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BLS Occupational Outlook Handbook

For more information on the profession, visit the website of the Bureau of Labor Statistics to review the Occupational Outlook Handbook.

 

 

Visit the NABE Job center at

http://EconJobs.org