How much does an Economics Analyst I make in Illinois? The average Economics Analyst I salary in Illinois is $97,209 as of February 26, 2024, but the range typically falls between $81,339 and $111,243. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

Economics Analyst I Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Economics Analyst I Salary $66,890 IL February 26, 2024
25th Percentile Economics Analyst I Salary $81,339 IL February 26, 2024
50th Percentile Economics Analyst I Salary $97,209 IL February 26, 2024
75th Percentile Economics Analyst I Salary $111,243 IL February 26, 2024
90th Percentile Economics Analyst I Salary $124,020 IL February 26, 2024
25% $81,339 10% $66,890 90% $124,020 75% $111,243 $97,209 50%(Median) Didn’t find job title? Click
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What skills does an Economics Analyst I need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.

Forecasting: Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term. Both might refer to formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods. Usage can differ between areas of application: for example, in hydrology the terms "forecast" and "forecasting" are sometimes reserved for estimates of values at certain specific future times, while the term "prediction" is used for more general estimates, such as the number of times floods will occur over a long period. Risk and uncertainty are central to forecasting and prediction; it is generally considered good practice to indicate the degree of uncertainty attaching to forecasts. In any case, the data must be up to date in order for the forecast to be as accurate as possible. In some cases the data used to predict the variable of interest is itself forecasted.

3.

Computer science: Computer science is the study of computation, automation, and information. Computer science spans theoretical disciplines (such as algorithms, theory of computation, information theory, and automation) to practical disciplines.

Analysis 1.66%
Forecasting 0.19%
Computer science 0.12%
Others 98.03%

Job Description for Economics Analyst I

Economics Analyst I conducts research and analysis on economic data/trends and produces forecasts, interpretive reporting, and media used for risk assessment, communication, and decision making. Collects economic data from established datasets and other sources utilizing data collection and data science protocols. Being an Economics Analyst I utilizes statistical analysis, mathematical methodologies, and modeling techniques to develop data. Designs and organizes data into unique report models and graphical illustrations to present economic information used for decision making and solution development. Additionally, Economics Analyst I requires a bachelor's degree in economics or equivalent. Typically reports to a manager or head of a unit/department. The Economics Analyst I occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be an Economics Analyst I typically requires 2-4 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Economics Analyst I in Illinois

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Location Avg. Salary Date Updated
Location Cicero, IL Avg. Salary $99,801 Date Updated February 26, 2024
Location Mount Prospect, IL Avg. Salary $99,461 Date Updated February 26, 2024
Location Abingdon, IL Avg. Salary $89,727 Date Updated February 26, 2024
Location Adair, IL Avg. Salary $90,814 Date Updated February 26, 2024
Location Addieville, IL Avg. Salary $92,394 Date Updated February 26, 2024
Location Addison, IL Avg. Salary $99,461 Date Updated February 26, 2024
Location Akin, IL Avg. Salary $88,852 Date Updated February 26, 2024
Location Albany, IL Avg. Salary $88,189 Date Updated February 26, 2024
Location Albers, IL Avg. Salary $92,394 Date Updated February 26, 2024
Location Albion, IL Avg. Salary $86,879 Date Updated February 26, 2024

Career Path for Economics Analyst I

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Economics Analyst I, the first career path typically starts with a Business Data Analyst III position, and then progresses to Business Data Analyst IV.

Additionally, the second career path typically starts with an Economics Analyst II position, and then progresses to Economics Analyst III.

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Economics Analyst I Salary in Illinois
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