Economics

2021 Highest Paid Economics Graduates in the Great Lakes Region

5,644 Bachelor's Degrees
$45,539 Avg Salary
$22,924 Avg Student Debt

Finding the Best Economics School for You

Highest Paid Economics Graduates in the Great Lakes RegionEconomics is the #14 most popular major in the country with 40,355 bachelor's degrees awarded in 2018-2019. Of those degrees, 5,644 went to students in the Great Lakes region of the United States. Since picking the right college can be one of the most important decisions of your life, we've developed the Highest Paid Economics Graduates ranking, along with many other major-related rankings, to help you make that decision.

For this year's Highest Paid Economics Graduates in the Great Lakes Region ranking, we looked at 36 colleges that offer a bachelor's in economics.

In this ranking, we use early career salaries - salaries 10 years from when a student started college. This is the salary typically earned 4-6 years after graduation, but may be different depending on how long a person takes to complete their degree.

Comparing Average Salaries of Economics Majors

The average economics major who graduates from a school in the Great Lakes Region earns about $45,539 per year during the early years of their career. This means that graduates with bachelor's degrees in this field make 14% more than the average college graduate salary of $39,802.

Nationwide, the average salary for graduates with a economics degree is $46,795. So, there's not much difference on that front.

Average Salary for Economics Graduates from Schools in the Great Lakes Region  45,539
0K
91,000
Average Salary for Economics Graduates from Schools Nationwide  46,795
0K
91,000
National Average Salary for All College Grads (Regardless of Major)  39,802
0K
91,000

College Combat

To further help you make the college decision, we've developed a unique tool called College Combat that allows you to compare schools based on the factors that matter the most to you. Go ahead and give it a try, or bookmark the link so you can check it out later.

2021 Highest Paid Economics Grads in the Great Lakes Region

Learn more about the colleges and universities that produce the highest paid economics graduates.

Top 10 Best Schools for Highly Paid Economics Graduates in the Great Lakes Region

#1

University of Chicago

Chicago, IL

University of Chicago earned the #1 spot in our 2021 rankings. Located in the city of Chicago, UChicago is a private not-for-profit school with a fairly large student population. Economics majors who obtain their bachelor's from the school make an average salary of $83,000.

While working on their bachelor's, economics majors at UChicago accumulate an average of around $17,390 in student debt. This translates to an average monthly loan payment of $187, based on a 10-year repayment plan.

Read More…

Request Information
#2

Northwestern University

Evanston, IL

Our rankings recognize Northwestern University as the #2 school in this year's rankings. Northwestern is a fairly large private not-for-profit school located in the small city of Evanston. The average salary for a student who gets a bachelor's degree in economics from the school is $69,200.

While working on their bachelor's, economics majors at Northwestern accumulate an average of around $15,151 in student debt. When it comes time to repay the loan, graduates who are on a 10-year repayment plan pay an average monthly payment of $148.

Full Economics at Northwestern University Report

Request Information
#3

University of Notre Dame

Notre Dame, IN

Our rankings recognize University of Notre Dame as the #3 school in this year's rankings. Notre Dame is a large private not-for-profit school located in the large suburb of Notre Dame. Students who receive their bachelor's in economics from the school go on to jobs that make an average salary of $64,300.

While working on their bachelor's, economics majors at Notre Dame accumulate an average of around $17,327 in student debt. Assuming that a graduate chooses a 10-year repayment plan, the average monthly loan payment is $197.

Full Economics at University of Notre Dame Report

Request Information
#4

Eastern Illinois University

Charleston, IL

The #4 spot in this year's ranking belongs to Eastern Illinois University. EIU is a moderately-sized public school located in the town of Charleston.

After completing their bachelor's degree, economics graduates from EIU carry an average student debtload of $25,197.

Read full report on Economics at Eastern Illinois University

Request Information

University of Michigan - Ann Arbor comes in at #4 in this year's ranking. U-M is a fairly large public school located in the midsize city of Ann Arbor. Economics majors who obtain their bachelor's from the school make an average salary of $57,200.

After completing their bachelor's degree, economics graduates from U-M carry an average student debtload of $16,182. When it comes time to repay the loan, graduates who are on a 10-year repayment plan pay an average monthly payment of $170.

Full Economics at University of Michigan - Ann Arbor Report

Request Information

#5

DePauw University

Greencastle, IN

DePauw University earned the #5 spot in our 2021 rankings. DePauw is a small private not-for-profit school located in the town of Greencastle. Economics majors who obtain their bachelor's from the school make an average salary of $52,900.

After completing their bachelor's degree, economics graduates from DePauw carry an average student debtload of $21,815. The average monthly payment of a loan this size is about $259, assuming that the borrower is on a 10-year repayment plan.

Full Economics at DePauw University Report

Request Information

Our rankings recognize Miami University - Oxford as the #6 school in this year's rankings. Miami University - Oxford is a large public school located in the fringe town of Oxford. Economics majors who obtain their bachelor's from the school make an average salary of $50,900.

After completing their bachelor's degree, economics graduates from Miami University - Oxford carry an average student debtload of $22,465. When it comes time to repay the loan, graduates who are on a 10-year repayment plan pay an average monthly payment of $249.

Read More…

Request Information

Indiana University - Bloomington landed the #7 spot in our 2021 rankings for highest paid economics school. Located in the city of Bloomington, IU Bloomington is a public college with a very large student population. Upon graduating with a bachelor's degree, economics majors make an average salary of $49,400.

Economics majors at IU Bloomington take out an average of $19,346 in student loans while working on their bachelor's degree. For students who choose a 10-year repayment plan, the average monthly student loan payment is $223.

Full Economics at Indiana University - Bloomington Report

Request Information

Our rankings recognize University of Illinois at Urbana-Champaign as the #8 school in this year's rankings. UIUC is a very large public school located in the small city of Champaign. Upon graduating with a bachelor's degree, economics majors make an average salary of $49,400.

Economics majors at UIUC take out an average of $19,996 in student loans while working on their bachelor's degree. For students who choose a 10-year repayment plan, the average monthly student loan payment is $218.

Read full report on Economics at University of Illinois at Urbana-Champaign

Request Information
#9

Kenyon College

Gambier, OH

Our rankings recognize Kenyon College as the #9 school in this year's rankings. Located in the town of Gambier, Kenyon is a private not-for-profit school with a small student population. Students who receive their bachelor's in economics from the school go on to jobs that make an average salary of $49,200.

The average amount in student loans that economics majors at Kenyon take out while working on their bachelor's is $16,770. Assuming that a graduate chooses a 10-year repayment plan, the average monthly loan payment is $197.

Full Economics at Kenyon College Report

Request Information

Best Economics Colleges by State

Explore the best economics colleges for a specific state in the Great Lakes region.

State Colleges Degrees Awarded
Michigan 255 1,154
Ohio 246 969
Illinois 231 1,749
Indiana 227 774
Wisconsin 209 998

Economics is one of 13 different types of Social Sciences programs to choose from.

Majors Similar to Economics

Related Major Annual Graduates
Political Science & Government 5,120
Sociology 2,898
International Relations & National Security 1,207
Criminology 1,106
Anthropology 1,018

View All Economics Related Majors >

Notes and References

  • The Integrated Postsecondary Education Data System (IPEDS) from the National Center for Education Statistics (NCES), a branch of the U.S. Department of Education (DOE) serves as the core of the rest of our data about colleges.
  • Some other college data, including much of the graduate earnings data, comes from the U.S. Department of Education’s (College Scorecard).
  • Credit for the banner image above goes to pixabay.

More about our data sources and methodologies.

Find Schools Near You