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ANZSCO 2241Skill level 1Business and finance

Economist

Research and advise on policy and business decisions through quantitative economic analysis.

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Salary

Cited figures from Job Outlook and QILT. ExamExplained does not publish predictive earnings or projections.

FigureAUDSource
Full-time weekly earnings$2500Job Outlook (2025-06-01)
Graduate starting salary$75,000QILT (2025-03-01)

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What a economist actually does

Economists split the day between data work, writing, and stakeholder briefings. A typical morning might be pulling ABS, RBA or APRA data, running an econometric model in R, Python or Stata, and sense-checking the output. The middle of the day is often a working group with policy colleagues, line-area economists or finance partners to align on assumptions. Afternoons go to writing the analysis up as a brief, research note, or paper for a minister, executive committee or regulator. Hours sit at 38-45 a week with peaks around Budget season, rate-decision cycles, big policy announcements or major industry reviews. Most roles are desk-based and hybrid in Canberra, Sydney or Melbourne, with travel for stakeholder consultations or conferences.

Typical tasks

  • Estimate econometric models.
  • Prepare policy and pricing advice.
  • Brief executive and ministerial audiences.

Skills you'll use

  • Microeconomic and macroeconomic theory
  • Econometrics and statistical modelling
  • R, Python or Stata plus advanced Excel
  • Reading and applying ABS, RBA and OECD data releases
  • Writing executive briefs and policy submissions
  • Presenting to non-technical decision-makers and committees
  • Project planning across long-cycle research

How to become one

  1. 1Finish Year 12 with English plus Maths Methods (Maths Advanced is the NSW equivalent); Specialist Maths helps for honours and research paths
  2. 2Complete a Bachelor of Economics, Bachelor of Commerce (Economics), or PPE (Politics, Philosophy and Economics) (3-4 years)
  3. 3Sit honours in economics or a research-focused fourth year to unlock graduate roles at the RBA, Treasury and Productivity Commission
  4. 4Apply for a graduate programme at the RBA, Treasury, the ACCC, a state Treasury, or a major bank or consulting firm
  5. 5Consider a Masters or PhD in economics if you want to push toward chief-economist or research-leader roles

Where you can work

  • Federal and state Treasury departments
  • The Reserve Bank of Australia
  • The Productivity Commission and the ACCC
  • The Australian Bureau of Statistics
  • Major banks, super funds and insurers
  • Big-four and specialist economic-consulting practices
  • Universities and policy-focused think tanks

Career progression

Typical stages and salary bands. Salary figures are sourced from Job Outlook, QILT or industry bodies; brackets are 25th-75th percentile not absolute floors or ceilings.

  1. Graduate economist
    0-2 years
    Typical roles: Graduate economist, Research analyst, Economic analyst
    Salary band: $75,000 - $95,000 per year (source, sourced 2026-05-21)
  2. Senior analyst
    3-6 years
    Typical roles: Senior economist, Senior research analyst, Policy adviser
    Salary band: $110,000 - $150,000 per year (source, sourced 2026-05-21)
  3. Manager / principal
    7-12 years
    Typical roles: Principal economist, Manager, economic analysis, Director, policy
    Salary band: $160,000 - $220,000 per year (source, sourced 2026-05-21)
  4. Chief economist / partner
    12+ years
    Typical roles: Chief Economist, Partner, economic consulting, Executive director, policy

Is this for you?

You might love this if

  • You like building arguments out of data
  • You're comfortable with maths-heavy university study and post-grad options
  • You can sit with messy real-world data and still produce a defensible answer
  • You can write a one-page brief that a minister could read in two minutes
  • You're patient with policy and regulatory timelines

This might not suit you if

  • You want to build, design or make something tangible at work
  • You hate spending most of the day in spreadsheets and statistical code
  • You want fast feedback loops on every decision
  • You dislike writing long reports or briefing notes

Three ways in

Uni, TAFE and trade routes for economist. Not every career has all three; we only list pathways that actually lead to this occupation.

University

Bachelor degrees that lead to this career.

TAFE / VET

Nationally accredited Certificate and Diploma qualifications.

No direct TAFE pathway to this career.

Apprenticeship trade

Earn while you learn through an Australian Apprenticeship.

Not an apprenticeship trade.

Sources

ExamExplained does not publish predictive salary figures. For current Australian earnings data check Job Outlook directly. Career classifications follow the ABS ANZSCO 2022 release.