Economist Salary – Government of Canada (2026)
How much do federal economists make? Classification mapping, salary by level, and career path.
How Economist Roles Are Classified
The Government of Canada doesn't advertise positions as “Economist” — instead, each role is assigned a classification code that determines its pay scale. Here's how economist roles map to federal classifications:
What Federal Economists Do
Federal economists analyze economic data, build forecasting models, evaluate government programs, and advise on fiscal, trade, and social policy. They work at Finance Canada (federal budget), Statistics Canada (economic indicators), Bank of Canada (monetary policy), Global Affairs (trade analysis), ESDC (labour markets), and dozens of other departments. The EC classification covers economists alongside policy analysts and social scientists — but core economist roles are concentrated at EC-04 through EC-07.
Economist Salary Breakdown
A working-level federal economist (EC-04) earns $91,953–$100,265, while senior economists (EC-05) earn $100,265–$112,437. The chief economist level (EC-07) reaches $142,681–$159,046. Federal economist salaries are competitive with think tanks and NGOs but below what private-sector economists earn at banks, consulting firms, and tech companies. However, the pension, job stability, and quality of analytical work attract economists who prioritize intellectual challenge over maximizing income.
How to Get Hired
Economist positions almost always require a master's degree or PhD in economics. Finance Canada, Statistics Canada, and the Bank of Canada run dedicated economist recruitment campaigns. Entry is typically at EC-02 or EC-03. The most competitive positions (Finance, Bank of Canada, PCO) are among the hardest to land in the public service. Strong quantitative skills, knowledge of econometric methods, and bilingualism are critical for advancement beyond EC-04.