According to the November 2003 National, State, and Metropolitan Area Occupational Employment and wage estimates produced by the US Bureau of Labor Statistics, the average economist earned $78,370 annually. The median economist earned $70,520. The average government economist earned $79,424. The average economist working in scientific research and development earned $102,320. The average economist working in management and technical consulting services earned $98,250. These figures do not include academic economists, a different occupational group.
The average post-secondary economics teacher earned $72,300. The median economics teacher earned $66,300. The average econ teacher at a junior college earned $52,160 while the average econ teacher at a college/university earned $76,780. In Minnesota, the average economics teacher earns over $85,000 per year. According to the BLS website, all annual salaries reflect a 12-month full time schedule, even for academic economists.
*** Addendum: here is a link I just ran across for a salary survey from AACSB.