Free Economist Job Description Templates
Free economist job description templates: government, financial, applied, senior, and junior versions, with FLSA classification guidance. Download DOCX.
Economist Job Description Templates
6 templates for standard, government, financial, applied, senior, and junior roles, with the FLSA classification guidance no competitor includes. Download as DOCX.
The economist job description covers an umbrella title that spans several different jobs. The same posting word can mean a government economist analyzing policy, a financial economist forecasting markets, an applied economist running experiments at a technology company, or a senior researcher leading a team. What they share is the core: rigorous analysis of economic data, turned into reports and guidance.
At FirstHR, we build templates for the whole range, with two things no competitor offers: a downloadable DOCX and a clear note on FLSA classification, which most template sites skip. The six templates below cover standard, government, financial, applied, senior, and junior. Pick the one that fits, fill in the brackets, and post, and the guide to writing a job description covers the fundamentals.
What Does an Economist Do?
An economist conducts research, analyzes economic data, and prepares reports that inform decisions and policy. The work includes building and testing econometric models, forecasting trends like growth, inflation, and employment, evaluating the impact of policies or market changes, and translating complex analysis into clear reports, tables, and recommendations.
The federal definition maps to economists (SOC 19-3011), which the Bureau of Labor Statistics describes as conducting research, preparing reports, and evaluating issues related to monetary and fiscal policy. The emphasis shifts by sector: government economists focus on policy and official statistics, financial economists forecast markets, and applied economists at tech companies run experiments to guide business decisions. The templates split along those lines.
Economist Duties and Responsibilities
An economist's duties cluster into data and analysis, modeling and forecasting, reporting and communication, and rigor and standards. The mix shifts by sector, but these areas hold across roles.
The balance varies: a government economist leans toward policy evaluation, an applied economist toward experiments and large datasets. For a structured way to scope any role, the guide to defining job responsibilities walks through the process.
Which Template Should You Use?
Pick the template by your sector and seniority. The government, financial, and applied versions match different settings, and the senior and junior versions match the level you are hiring. Use this guide to choose.
6 Free Economist Job Description Templates
Download all six as a single Word document or copy individual templates. Each follows the same structure: position summary, key responsibilities, qualifications, an FLSA classification note, an EEO statement, and pay. Fill in the brackets and post.
Template 1: Standard Economist
The universal base: conduct research, analyze data, build models, forecast trends, and prepare reports. The starting point if no other version fits.
Template 2: Government Economist
For a federal, state, or local agency, the largest employer of economists. Policy analysis, official statistics, and program evaluation.
Template 3: Financial / Private-Sector Economist
For a bank, asset manager, insurer, rating agency, or consulting firm. Markets, forecasts, and commentary that inform business and investment decisions.
Template 4: Applied / Data Economist
For a technology company: economics meets data science, with experiments and causal analysis guiding product, pricing, and strategy.
Template 5: Senior / Lead Economist
For leading research, setting methodology, mentoring analysts, and owning the organization's economic view. Typically a PhD-level role.
Template 6: Junior / Entry-Level Economist
For an entry-level hire who supports the research team and learns the craft. Read the classification note, since some entry roles can be non-exempt.
FLSA: Is an Economist Exempt or Non-Exempt?
This is the question no competing template answers, and for an economist it has an unusually clean answer. The Department of Labor is clear that the title does not decide exempt status; the actual duties and salary do.
An economist is a textbook example of the learned professional exemption, which applies when the primary duty requires advanced knowledge in a field of science or learning acquired through a prolonged course of specialized intellectual instruction. Economics is exactly such a field, which is why the role typically requires a master's or PhD. A genuine research-and-analysis role, paid on a salary basis at or above the threshold, is exempt.
The practical rule: classify by the real duties and pay, document the basis, and give genuinely entry-level or routine roles extra scrutiny before treating them as exempt.
Types of Economist
One title, several real jobs. The sector, the methods, and the day-to-day differ enough that hiring the wrong type is a costly mismatch, and it is also why economist and economic analyst are not quite the same role.
| Type | Focus | Typical employer |
|---|---|---|
| Government | Policy analysis, official statistics | Federal, state, and local agencies |
| Financial / private-sector | Markets, forecasts, commentary | Banks, consultancies, think tanks |
| Applied / data | Experiments, causal analysis | Technology and data-driven firms |
| Academic | Teaching and original research | Universities (a separate BLS category) |
| Health economist | Health policy and outcomes | Pharma, public health, agencies |
| Economic analyst (adjacent) | Applied economic analysis | Broader or more junior, varies |
The last row is an adjacent, often broader or more junior title. Because organizations use these labels inconsistently, describe the actual work and degree rather than relying on the title alone.
Requirements and Qualifications
This is a credential-and-method role: the right degree plus quantitative skill matters most, and the specifics scale by sector and seniority.
| Requirement | What to know |
|---|---|
| Education | Master's typical; PhD for research and applied; bachelor's for some government entry roles |
| Core skills | Econometrics, quantitative analysis, modeling |
| Software | R, Stata, SAS, Python, SQL |
| By sector | Causal inference and scale (applied), markets (financial), policy (government) |
| Experience | Entry-level support up to 7+ years for senior |
| Communication | Translating complex analysis for varied audiences |
Separate the must-have qualifications, like the required degree and core methods, from the preferred ones, so you do not screen out strong candidates in a small talent pool. The guide to writing a job description covers how to structure the rest.
Pay and Hiring Outlook
Economists are well paid, and the occupation is small and growing slowly, which makes a clear posting matter for attracting scarce candidates.
Anchor your range to the sector, seniority, and degree. Among top industries, federal government roles paid a median around $141,590 and research and development around $129,430, while state government paid less. Technology and finance roles for PhD applied economists often reach the top of the range with bonus and equity.
Hiring an Economist
The honest picture: economist is an umbrella title, the FLSA call is clean but worth documenting, and it is a small, credential-heavy field where the posting has to do real work. Here are the three realities to get right.
After You Hire: Onboarding an Economist
Onboarding an economist is more than paperwork, because a research hire needs data access and clear standards to be productive. Send the offer stating the pay and classification, collect the signed offer, and complete Form I-9 and tax forms as part of the new hire paperwork.
Then handle the steps specific to a research role, which are the core of a clean start.
Keep the signed onboarding documents, including any confidentiality and data-use agreements, in one place. If you are setting up hiring without a dedicated HR team, the overview of small business HR covers the basics.
FirstHR fits this hire directly: e-signature for the offer, confidentiality agreements, and policy acknowledgments, document management to store signed records and data-use agreements securely, training modules to deliver and document standards and policy training, task workflows to grant and track data and systems access, and a simple HRIS with an org chart placing the economist in the research team. Because pricing is flat rather than per seat, an organization pays one rate as it grows. FirstHR does not run payroll or administer benefits, so pair it with a payroll provider or PEO. Applicant tracking is coming soon to FirstHR.
Frequently Asked Questions
What does an economist do?
An economist conducts research, analyzes data, and prepares reports that inform decisions and policy. The core work includes collecting and analyzing economic and statistical data, building and testing econometric models, forecasting trends such as growth, inflation, and employment, evaluating the impact of policies or market changes, and translating complex analysis into clear reports, tables, charts, and recommendations. The federal definition maps to economists (SOC 19-3011), which the Bureau of Labor Statistics describes as conducting research, preparing reports, and evaluating issues related to monetary and fiscal policy, along with collecting and analyzing statistical data. The emphasis shifts by sector: a government economist focuses on policy analysis and official statistics, a financial or private-sector economist forecasts markets and writes commentary, an applied or data economist at a technology company runs experiments and causal analysis to guide business decisions, and an academic economist teaches and publishes research. Across all of them, the throughline is rigorous analysis turned into guidance. It is a research-heavy, credential-heavy role: most positions require at least a master's degree, and many require a PhD.
Is an economist exempt or non-exempt under the FLSA?
An economist is generally exempt under the learned professional exemption, and it is one of the clearer cases. The exemption applies when an employee's primary duty requires advanced knowledge in a field of science or learning that is customarily acquired through a prolonged course of specialized intellectual instruction. Economics is exactly such a field, which is why the role typically requires a master's or PhD, so an economist performing genuine research and analysis, paid on a salary basis at or above the applicable threshold, is exempt. There is one place to look more carefully: an entry-level or junior role paid below the federal salary threshold, or a role limited to routine data collection and processing rather than advanced analysis, may not meet the tests and could be non-exempt and entitled to overtime. The Department of Labor is clear that the job title does not decide exempt status; the actual duties and salary do. Several states also set salary thresholds higher than the federal floor, and where a state standard is stricter, it controls. The practical approach is to classify based on the real duties and pay, document the basis, and treat genuinely entry-level or routine roles with extra care. This is general information, not legal advice.
What is the difference between an economist and an economic analyst?
The two roles overlap but differ in depth, scope, and typical credentials. An economist, in the federal occupational sense (SOC 19-3011), conducts original research, builds and tests econometric models, produces forecasts, and evaluates policy or market issues, usually with a master's or PhD and a high degree of independent analytical judgment. An economic analyst or economic research analyst is often a broader or more junior title that applies economic data and methods to support business, financial, or policy decisions, frequently with a bachelor's or master's and a more applied, less research-original focus. In practice, the line blurs by employer: some organizations call essentially the same work economist, others economic analyst, and others economic research analyst. There are also adjacent roles such as financial analyst, which centers on company and investment analysis rather than broad economic research, and econometrician, which is a specialist in the statistical methods. When you write the posting, the practical step is to describe the actual work, the methods, the seniority, and the degree you require, rather than relying on the title alone, since candidates and search engines interpret these titles inconsistently.
How much does an economist make?
Economists are well paid, with pay varying sharply by sector, seniority, and education. According to the Bureau of Labor Statistics, economists (SOC 19-3011) had a median annual wage of $115,440 as of May 2024, with the lowest 10 percent earning less than $62,340 and the highest 10 percent earning more than $212,710. Sector matters a great deal: among the top industries employing economists, the federal government paid a median around $141,590, scientific research and development services around $129,430, and management and technical consulting around $102,450, while state government roles paid less, around $74,520. Technology companies and financial firms hiring PhD applied economists often pay at or above the top of the range, sometimes well into the six figures with bonus and equity. For your posting, anchor the range to the sector, seniority, and degree you are hiring for, since an entry-level government analyst and a PhD applied economist at a tech company occupy very different parts of the pay scale. Listing a credible range also helps attract scarce qualified candidates in a small field.
Is the economist field growing?
The economist occupation is projected to grow slowly, with steady but limited openings. The Bureau of Labor Statistics projects employment of economists to grow about 1 percent from 2024 to 2034, slower than the average for all occupations, an increase of roughly 200 jobs over the decade. Despite that limited growth, about 900 openings for economists are projected each year on average, most resulting from the need to replace workers who move into other occupations or leave the labor force, such as to retire. So while the field is not expanding quickly, it does hire steadily, and demand is supported by the ongoing need for data analysis and forecasting across government, finance, consulting, and increasingly technology companies that employ applied economists. It is a small occupation overall, with roughly 17,600 jobs, which means qualified candidates are relatively scarce and a clear, specific job description matters for attracting them. The growth of applied and data economist roles in the private sector is one of the more notable recent trends, even though it does not change the modest topline projection.
What qualifications should an economist have?
An economist typically needs at least a master's degree in economics or a closely related field, and many roles, especially in research, applied data, and academia, require a PhD. Some entry-level positions, primarily in government, accept a bachelor's degree. Beyond the degree, the most important qualifications are strong econometrics and quantitative analysis skills, proficiency with statistical software such as R, Stata, SAS, or Python, the ability to build and interpret models, and excellent written and verbal communication to translate complex analysis for different audiences. The specific emphasis depends on the sector: an applied or data economist needs strong programming and causal-inference skills and experience with large datasets and experimentation, a financial economist needs macroeconomic and markets expertise, and a government economist needs policy knowledge and clear writing for public audiences. Experience requirements scale with seniority, from entry-level support roles up to senior economists with many years of research experience and a track record of published or applied work. When writing the posting, separate the must-have qualifications, such as the required degree and core methods, from the preferred ones, so you do not screen out strong candidates over a nice-to-have in a small talent pool.
Who hires economists?
Economists are concentrated in government, large organizations, and increasingly technology and finance, rather than in small businesses. Government is the largest employer, with federal, state, and local agencies together accounting for a large share of economist jobs, where they analyze policy, produce official statistics, and evaluate programs. Beyond government, major employers include management and technical consulting firms, scientific research and development organizations, banks and financial institutions, rating agencies, insurers, think tanks, universities, and central banks. A notable recent trend is the growth of applied economist teams at technology companies, which hire PhD economists to design experiments and guide product and pricing decisions. Because economist roles cluster in larger organizations and require advanced degrees, a small business rarely hires a dedicated economist; when a smaller company needs economic insight, it more often turns to a financial analyst, a consultant, or a fractional specialist. If you are hiring an economist, you are likely doing so within an agency, a research organization, a financial firm, a consultancy, or a data-driven company, and the templates on this page are organized around those settings.
What happens after I hire an economist?
Run a structured onboarding that covers standard employment paperwork plus the access and standards steps specific to a research role. Start with the basics: send the offer stating the pay and the FLSA classification, collect the signed offer, complete Form I-9 within the first days, and gather the W-4 and any state tax forms. Then handle the items specific to an economist. Grant access to the datasets, statistical software, and research repositories the role needs, with the right permissions, and make sure any required data-use agreements are signed before access to restricted or non-public data. Walk the new economist through your methodology, data-quality standards, documentation expectations, and review process so research is consistent and reproducible. Where the work touches sensitive or non-public data, have the new hire sign a confidentiality agreement and acknowledge research-integrity and conflict-of-interest policies. A clear, documented onboarding gets a research hire productive faster and protects the integrity of the work. FirstHR handles the onboarding layer: e-signature for the offer, confidentiality agreements, and policy acknowledgments, document management to store signed records and data-use agreements securely, training modules to deliver and document standards and policy training, task workflows to grant and track data and systems access, and a simple HRIS with an org chart placing the economist in the research team. FirstHR does not run payroll or administer benefits, so pair it with a payroll provider. Applicant tracking is coming soon to FirstHR.