Economist Salary in Australia: Minimum Wage vs Median Earnings
The median full-time economist earns $2,862 per week ($75 per hour), while the national minimum wage is $26.44 per hour ($1,004.90 per week) from 1 July 2026.
Understanding the Economist Salary in Australia
If you are researching the economist salary in Australia, you need to separate the legal minimum from what economists typically earn. The legal minimum is set by the Fair Work Commission and enforced by the Fair Work Ombudsman, while the typical earnings come from surveys by the Australian Bureau of Statistics (ABS) and Jobs and Skills Australia.
The Legal Minimum Wage for Economists
Most economists are not covered by a specific modern award. They may fall under the Professional Employees Award 2020 if their role involves professional engineering or scientific work, but many are award-free. For award-free employees, the national minimum wage applies: from 1 July 2026, that is $26.44 per hour or $1,004.90 per week for a full-time adult employee. Casual employees receive a loading of 25%, making the casual minimum $33.05 per hour.
If an economist is covered by an enterprise agreement or an individual contract, the rate must be at least the national minimum wage. Some employers pay above the minimum, but the floor is always the national minimum or any applicable award rate, whichever is higher.
Median Economist Salary from the ABS
According to Jobs and Skills Australia, which uses ABS data from May 2025, the median full-time economist earns $2,862 per week before tax. That works out to about $75 per hour based on a 38-hour week. This is significantly higher than the national minimum wage. The median age of economists is 35, and 90% work full-time. The top industries for economists are Public Administration and Safety, Professional, Scientific and Technical Services, and Education and Training.
Note that these figures are for full-time non-managerial employees paid at the adult rate. Part-time or junior economists would earn proportionally less, but still must receive at least the minimum wage for their age and employment type.
How Superannuation Fits In
All employers must pay the superannuation guarantee of 12% on top of ordinary time earnings. For an economist earning the median $2,862 per week, the employer would contribute an additional $343.44 per week to their super fund. This is not deducted from the employee's salary; it is paid on top.
Checking Your Own Rate
If you are an economist or hiring one, you can compare your hourly or weekly rate against the national minimum wage. Use our Rate tables to see the current minimums. For award-covered employees, check the Professional Employees Award or your enterprise agreement. Remember that the minimum wage is a floor, not a target. Most economists earn well above it.
For more detail on how these figures are calculated, see our How the figures work page.
Frequently Asked Questions
See the FAQs above for answers to common questions about economist pay and minimum wage obligations.
Questions people ask next
What is the minimum wage for an economist in Australia?
There is no specific award for economists; most are covered by the Professional Employees Award 2020 or are award-free. The national minimum wage of $26.44 per hour ($1,004.90 per week) applies as a floor. However, enterprise agreements or individual contracts may set higher rates.
How does the median economist salary compare to the national minimum?
According to the ABS (May 2025), the median full-time economist earns $2,862 per week, or $75 per hour. This is nearly three times the national minimum wage of $26.44 per hour. Part-time or junior economists may earn less, but must still receive at least the applicable minimum.
Does superannuation apply to economist salaries?
Yes. Employers must pay the superannuation guarantee of 12% on top of ordinary time earnings. For an economist earning the median $2,862 per week, the employer would contribute an additional $343.44 per week into the employee's super fund.
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