The following page shows the career & education requirements, salary and job outlook for Economic Psychology around the country.
What We Do
An economic psychologist focuses on behavioral economics, which combines economic data with consumer behavior analysis. It is very much a research based field, through which psychologists can provide advice on the best economic policies. Behavioral economics and economic psychology are emerging fields, and not many of these professionals exist as of yet. It is strongly linked to sociology as well, and many economic psychologists have completed an undergraduate degree in that field.
Work Environment
Those who have completed a degree in economic psychology generally work in the field of research. Some of these professionals become academics and teach the next generation of psychologists. Because economic psychology is such a relatively new field of psychology, this is actually a very popular job for graduates. Some have now started working within specific industries, including educational institutions, federal government, technical consultancy, and scientific consulting services.
How to Become a Economic Psychology
To become an economic psychologist, you must first complete a four year bachelor’s degree. While this does not have to be in psychology, it is usually recommended to build a solid foundation of this particular subject area. After the bachelor’s degree, you must enroll in a two year master’s degree, where you can choose the medical psychology specialization. In order to call yourself a psychologist, you must also complete a doctoral degree, with is either the research based Ph.D., or the clinically based Psy.D. Because economic psychologists generally work as either researchers or academics, the Ph.D. degree is usually the most appropriate. Furthermore, as it is such a new field, many thesis options still exist.
Training & Certification Requirements
Each state has its own requirements in terms of licenses and certification for the economic psychologist. The American Psychological Association and the Association of State and Provincial Psychology Boards both list what the requirements within each state are. Certification is usually valid for a certain period of time only, and must be maintained either through proof of continuous education credits, or by retaking the examination.
Economic Psychology Related Job Titles
According to Indeed.com, the following career/job titles with salary figures are most closely related to Economic Psychology.
Career/Job Title | Average Salary |
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Online Trader | $20,000 |
Director Teacher Effectiveness Design | $69,000 |
Psych Social Wkr Pool | $54,000 |
Rehabilitation Instructor | $36,000 |
Operations Manager C Se | $56,000 |
Financial Administrator Se | $73,000 |
Child Protective Service Specialist | $34,000 |
Student Psychological Counselor | $61,000 |
Social Services Program Manager | $58,000 |
Marketing Hire | $39,000 |
Economic Psychology Earning Potential
According to the U.S. Bureau of Labor Statistics, all psychologists, regardless of their field of specialization, earned a median salary of $72,580 per year as of May 2015.
Economic Psychology Job Outlook
Job growth is predicted to be strong in the field of psychology, with the U.S. Bureau of Labor Statistics expecting a 19% growth between the years of 2014 and 2024, which is much faster than the national average for most other professions.
According to Indeed.com, the average national salary of jobs for Economic Psychology was $44,000.00 with a high confidence ranking based on over 250 sources. Average Economic Psychology salaries for job postings nationwide are 23% lower than average salaries for all job postings nationwide.
Economic Psychology Salary by State
The following lists Economic Psychology salaries in each state around the country. The figures are based on the total number of job postings by employers through Indeed.com. For example, DC had the largest quoted salary of $56,000 while Hawaii had the smallest quoted salary of $27,000.
Alaska – $33,000 (High Confidence (more than 250 sources)) |
Rank: 47th | ||||||||||
Average Economic Psychology salaries for job postings in Alaska are 26% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 47th among states in the country. There were also job openings from employers like Juneau School District, San Jose/Evergreen Community College District, and Chugach Alaska Corporation. |
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Alabama – $45,000 (High Confidence (more than 250 sources)) |
Rank: 12th | ||||||||||
Average Economic Psychology salaries for job postings in Alabama are 1% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 12th among states in the country. There were also job openings from employers like Brown Mackie College. |
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Arkansas – $45,000 (High Confidence (more than 250 sources)) |
Rank: 13th | ||||||||||
Average Economic Psychology salaries for job postings in Arkansas are 2% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 13th among states in the country. There were also job openings from employers like Arkansas Department of Human Services, The Salvation Army, and JB Hunt. |
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Arizona – $36,000 (High Confidence (more than 250 sources)) |
Rank: 44th | ||||||||||
Average Economic Psychology salaries for job postings in Arizona are 18% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 44th among states in the country. There were also job openings from employers like The Goddard School – Buckeye, Southwest Behavioral Health Services, State of Arizona, and Easter Seals Blake Foundation. |
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California – $48,000 (High Confidence (more than 250 sources)) |
Rank: 7th | ||||||||||
Average Economic Psychology salaries for job postings in California are 7% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 7th among states in the country. There were also job openings from employers like University of California Berkeley, Child Care Resource Center – Chatsworth, CA, Argosy University, and California State University. |
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Colorado – $39,000 (High Confidence (more than 250 sources)) |
Rank: 34th | ||||||||||
Average Economic Psychology salaries for job postings in Colorado are 11% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 34th among states in the country. There were also job openings from employers like Colorado Department of Human Services, The Goddard School – Washington Park, The Goddard School – Lakewood, and Mountain Family Health Centers. |
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Connecticut – $51,000 (High Confidence (more than 250 sources)) |
Rank: 4th | ||||||||||
Average Economic Psychology salaries for job postings in Connecticut are 15% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 4th among states in the country. There were also job openings from employers like The Goddard School – Farmington, CT, Child Guidance of Southern Connecticut, St. Vincent’s Health Services, and Adelbrook, Inc.. |
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DC – $56,000 (High Confidence (more than 250 sources)) |
Rank: 1st | ||||||||||
Average Economic Psychology salaries for job postings in Washington, DC are 25% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 1st among states in the country. There were also job openings from employers like The Goddard School, Deloitte, George Mason University, and PCORI. |
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Delaware – $39,000 (High Confidence (more than 250 sources)) |
Rank: 35th | ||||||||||
Average Economic Psychology salaries for job postings in Delaware are 12% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 35th among states in the country. There were also job openings from employers like The Goddard School – Chadds Ford, Goddard School, Fellowship Health Resources, and The Salvation Army. |
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Florida – $41,000 (High Confidence (more than 250 sources)) |
Rank: 27th | ||||||||||
Average Economic Psychology salaries for job postings in Florida are 7% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 27th among states in the country. There were also job openings from employers like PeopleFirst Florida HR, UnitedHealth Group, Children's Home Society of Florida, and BayCare. |
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Georgia – $51,000 (High Confidence (more than 250 sources)) |
Rank: 5th | ||||||||||
Average Economic Psychology salaries for job postings in Georgia are 14% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 5th among states in the country. There were also job openings from employers like Dynamic Counseling and Solutions, LLC, College of Coastal Georgia, Hearts & Science, and West Cobb Preparatory Academy. |
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Hawaii – $27,000 (High Confidence (more than 250 sources)) |
Rank: 51st | ||||||||||
Average Economic Psychology salaries for job postings in Hawaii are 38% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 51st among states in the country. There were also job openings from employers like State of Hawaii, Argosy University, Goodwill Industries of Hawaii, Inc, and University of Hawaii – West Oahu UH West Oahu. |
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Iowa – $44,000 (High Confidence (more than 250 sources)) |
Rank: 16th | ||||||||||
Average Economic Psychology salaries for job postings in Iowa are 2% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 16th among states in the country. There were also job openings from employers like The Goddard School (Waukee, IA) and Mercy Cedar Rapids. |
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Idaho – $29,000 (High Confidence (more than 250 sources)) |
Rank: 50th | ||||||||||
Average Economic Psychology salaries for job postings in Idaho are 34% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 50th among states in the country. There were also job openings from employers like Idaho National Laboratory. |
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Illinois – $50,000 (High Confidence (more than 250 sources)) |
Rank: 6th | ||||||||||
Average Economic Psychology salaries for job postings in Illinois are 13% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 6th among states in the country. There were also job openings from employers like University of Illinois at Chicago, The Goddard School, ZS Associates, and Mathematica Policy Research. |
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Indiana – $43,000 (High Confidence (more than 250 sources)) |
Rank: 20th | ||||||||||
Average Economic Psychology salaries for job postings in Indiana are 4% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 20th among states in the country. There were also job openings from employers like The Goddard School – Southport, IN, The Goddard School – West Carmel, The Goddard School – Fishers II, and Indiana Department of Child Services. |
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Kansas – $41,000 (High Confidence (more than 250 sources)) |
Rank: 28th | ||||||||||
Average Economic Psychology salaries for job postings in Kansas are 9% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 28th among states in the country. There were also job openings from employers like Dept for Children and Families, Home Credit US, and Miami County Kansas. |
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Kentucky – $38,000 (High Confidence (more than 250 sources)) |
Rank: 41st | ||||||||||
Average Economic Psychology salaries for job postings in Kentucky are 14% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 41st among states in the country. There were also job openings from employers like Bluegrass Community and Technical College, The Goddard School – Florence, Brown Mackie College, and Grace Community Health Center. |
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Louisiana – $40,000 (High Confidence (more than 250 sources)) |
Rank: 31st | ||||||||||
Average Economic Psychology salaries for job postings in Louisiana are 11% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 31st among states in the country. There were no current job openings from employers in this state. |
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Massachusetts – $54,000 (High Confidence (more than 250 sources)) |
Rank: 2nd | ||||||||||
Average Economic Psychology salaries for job postings in Massachusetts are 20% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 2nd among states in the country. There were also job openings from employers like THE GODDARD SCHOOL – MEDFIELD, MA, NFP, SMOC, and Smith College. |
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Maryland – $46,000 (High Confidence (more than 250 sources)) |
Rank: 10th | ||||||||||
Average Economic Psychology salaries for job postings in Maryland are 3% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 10th among states in the country. There were also job openings from employers like General Dynamics Information Technology, Child Trends, The Goddard School – Bowie, MD, and Johns Hopkins University. |
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Maine – $39,000 (High Confidence (more than 250 sources)) |
Rank: 36th | ||||||||||
Average Economic Psychology salaries for job postings in Maine are 12% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 36th among states in the country. There were also job openings from employers like YWCA of Central Maine and Goodwill Industries of Northern New England. |
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Michigan – $45,000 (High Confidence (more than 250 sources)) |
Rank: 14th | ||||||||||
Average Economic Psychology salaries for job postings in Michigan are 1% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 14th among states in the country. There were also job openings from employers like The Goddard School – Grand Rapids II, Sanctuary at St Mary's, Michigan State University, and Mathematica Policy Research. |
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Minnesota – $39,000 (High Confidence (more than 250 sources)) |
Rank: 37th | ||||||||||
Average Economic Psychology salaries for job postings in Minnesota are 13% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 37th among states in the country. There were also job openings from employers like RESOURCE, Saint Paul Public Schools, Argosy University, and Genesis10. |
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Missouri – $44,000 (High Confidence (more than 250 sources)) |
Rank: 17th | ||||||||||
Average Economic Psychology salaries for job postings in Missouri are 2% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 17th among states in the country. There were also job openings from employers like Hallmark, University of Missouri- Columbia, THE GODDARD SCHOOL, and Washington University in St. Louis. |
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Mississippi – $47,000 (High Confidence (more than 250 sources)) |
Rank: 9th | ||||||||||
Average Economic Psychology salaries for job postings in Mississippi are 5% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 9th among states in the country. There were no current job openings from employers in this state. |
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Montana – $37,000 (High Confidence (more than 250 sources)) |
Rank: 42nd | ||||||||||
Average Economic Psychology salaries for job postings in Montana are 17% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 42nd among states in the country. There were no current job openings from employers in this state. |
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North Carolina – $42,000 (High Confidence (more than 250 sources)) |
Rank: 25th | ||||||||||
Average Economic Psychology salaries for job postings in North Carolina are 5% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 25th among states in the country. There were also job openings from employers like THE GODDARD SCHOOL – MOORESVILLE, NC, The Goddard School – Indian Trail, The Goddard School – Huntersville, and The Goddard School. |
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North Dakota – $39,000 (High Confidence (more than 250 sources)) |
Rank: 38th | ||||||||||
Average Economic Psychology salaries for job postings in North Dakota are 11% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 38th among states in the country. There were also job openings from employers like Anne Carlsen Center. |
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Nebraska – $32,000 (High Confidence (more than 250 sources)) |
Rank: 49th | ||||||||||
Average Economic Psychology salaries for job postings in Nebraska are 27% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 49th among states in the country. There were also job openings from employers like Strategic Systems Technology, Inc., The Bridge Behavioral Health, WellCare, and TD Ameritrade. |
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New Hampshire – $44,000 (High Confidence (more than 250 sources)) |
Rank: 18th | ||||||||||
Average Economic Psychology salaries for job postings in New Hampshire are 1% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 18th among states in the country. There were also job openings from employers like RTI Health Solutions and Antioch University of New England. |
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New Jersey – $48,000 (High Confidence (more than 250 sources)) |
Rank: 8th | ||||||||||
Average Economic Psychology salaries for job postings in New Jersey are 8% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 8th among states in the country. There were also job openings from employers like ZS Associates, THE GODDARD SCHOOL – WEST WINDSOR, NJ, The Goddard School – Fanwood, and Mathematica Policy Research. |
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New Mexico – $39,000 (High Confidence (more than 250 sources)) |
Rank: 39th | ||||||||||
Average Economic Psychology salaries for job postings in New Mexico are 13% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 39th among states in the country. There were also job openings from employers like Gallup-McKinley County Schools, Western New Mexico University, and Eastern New Mexico University. |
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Nevada – $34,000 (High Confidence (more than 250 sources)) |
Rank: 46th | ||||||||||
Average Economic Psychology salaries for job postings in Nevada are 24% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 46th among states in the country. There were also job openings from employers like The Goddard School – Reno II, University of Nevada Las Vegas, Clark County, NV, and Truckee Meadows Community College. |
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New York – $54,000 (High Confidence (more than 250 sources)) |
Rank: 3rd | ||||||||||
Average Economic Psychology salaries for job postings in New York State are 21% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 3rd among states in the country. There were also job openings from employers like InSites Consulting, Metropolitan Transportation Authority, Lantern Community Services, and MDRC. |
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Ohio – $43,000 (High Confidence (more than 250 sources)) |
Rank: 21st | ||||||||||
Average Economic Psychology salaries for job postings in Ohio are 4% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 21st among states in the country. There were also job openings from employers like THE GODDARD SCHOOL – WESTLAKE, OH, Catholic Charities – Diocese of Cleveland, The Goddard School – Cincinnati, and THE GODDARD SCHOOL – Northeast OH. |
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Oklahoma – $41,000 (High Confidence (more than 250 sources)) |
Rank: 29th | ||||||||||
Average Economic Psychology salaries for job postings in Oklahoma are 8% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 29th among states in the country. There were also job openings from employers like THE GODDARD SCHOOL – JENKS, OK, Central Oklahoma Community Action Agency, Fair Dinkum Direct, Inc., and Brown Mackie College. |
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Oregon – $43,000 (High Confidence (more than 250 sources)) |
Rank: 22nd | ||||||||||
Average Economic Psychology salaries for job postings in Oregon are 3% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 22nd among states in the country. There were also job openings from employers like State of Oregon, Exceed Enterprises, Boys & Girls Aid-Oregon, and St. Charles Health System. |
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Pennsylvania – $43,000 (High Confidence (more than 250 sources)) |
Rank: 23rd | ||||||||||
Average Economic Psychology salaries for job postings in Pennsylvania are 4% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 23rd among states in the country. There were also job openings from employers like Congreso, County of York, Public Health Management Corporation, and The Goddard School. |
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Rhode Island – $40,000 (High Confidence (more than 250 sources)) |
Rank: 32nd | ||||||||||
Average Economic Psychology salaries for job postings in Rhode Island are 9% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 32nd among states in the country. There were also job openings from employers like THE GODDARD SCHOOL – SOUTH KINGSTOWN, RI and i3. |
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South Carolina – $44,000 (High Confidence (more than 250 sources)) |
Rank: 19th | ||||||||||
Average Economic Psychology salaries for job postings in South Carolina are 1% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 19th among states in the country. There were also job openings from employers like The Art Institutes, WellCare, YMCA of Columbia, SC, and TherapyTravelers. |
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South Dakota – $33,000 (High Confidence (more than 250 sources)) |
Rank: 48th | ||||||||||
Average Economic Psychology salaries for job postings in South Dakota are 25% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 48th among states in the country. There were also job openings from employers like South Dakota State Government and Dakota Counseling Institute. |
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Tennessee – $41,000 (High Confidence (more than 250 sources)) |
Rank: 30th | ||||||||||
Average Economic Psychology salaries for job postings in Tennessee are 7% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 30th among states in the country. There were also job openings from employers like Helen Ross McNabb Center, General Dynamics Information Technology, The Goddard School – Collierville, and The Goddard School – Franklin II. |
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Texas – $43,000 (High Confidence (more than 250 sources)) |
Rank: 24th | ||||||||||
Average Economic Psychology salaries for job postings in Texas are 3% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 24th among states in the country. There were also job openings from employers like The Goddard School – Katy, BCFS, The Goddard School – Houston III, and THE GODDARD SCHOOL – MCKINNEY, TX. |
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Utah – $35,000 (High Confidence (more than 250 sources)) |
Rank: 45th | ||||||||||
Average Economic Psychology salaries for job postings in Utah are 22% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 45th among states in the country. There were also job openings from employers like The Goddard School – Buckeye, University of Utah, Utah Valley University, and Qualtrics. |
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Virginia – $45,000 (High Confidence (more than 250 sources)) |
Rank: 15th | ||||||||||
Average Economic Psychology salaries for job postings in Virginia are 1% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 15th among states in the country. There were also job openings from employers like Therapeutic Alliance, LLC, Scientific Research Corporation, George Mason University, and Deloitte. |
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Vermont – $39,000 (High Confidence (more than 250 sources)) |
Rank: 40th | ||||||||||
Average Economic Psychology salaries for job postings in Vermont are 12% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 40th among states in the country. There were no current job openings from employers in this state. |
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Washington – $46,000 (High Confidence (more than 250 sources)) |
Rank: 11th | ||||||||||
Average Economic Psychology salaries for job postings in Washington State are 3% higher than average Economic Psychology salaries for job postings nationwide. The average salary ranks 11th among states in the country. There were also job openings from employers like State of Washington, The Goddard School – Snoqualmie, WA, Amazon Corporate LLC, and THE GODDARD SCHOOL – SNOHOMISH, WA. |
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Wisconsin – $40,000 (High Confidence (more than 250 sources)) |
Rank: 33rd | ||||||||||
Average Economic Psychology salaries for job postings in Wisconsin are 11% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 33rd among states in the country. There were also job openings from employers like The Goddard School – Brookfield, WI, Waukesha County, WI, University of Wisconsin System, and Milwaukee Area Technical College. |
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West Virginia – $42,000 (High Confidence (more than 250 sources)) |
Rank: 26th | ||||||||||
Average Economic Psychology salaries for job postings in West Virginia are 6% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 26th among states in the country. There were also job openings from employers like Burlington Unitied Methodist Family Services and Family Preservation Services of West Virginia. |
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Wyoming – $37,000 (High Confidence (more than 250 sources)) |
Rank: 43rd | ||||||||||
Average Economic Psychology salaries for job postings in Wyoming are 17% lower than average Economic Psychology salaries for job postings nationwide. The average salary ranks 43rd among states in the country. There were also job openings from employers like act team lead and Laramie County Community College. |
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