How to Become an Environmental Economist: Does it Fit You?

Environmental Economist Career Video

As sustainability becomes increasingly crucial in shaping policies and business practices, Environmental Economics has emerged as a pivotal career path. Environmental Economists analyze the intersection of the environment and economic activities to help organizations and governments make decisions that balance economic growth and environmental stewardship. In this article, we’ll cover everything you need to know about becoming an Environmental Economist, including job responsibilities, working conditions, salary prospects, job market trends, related careers, and resources to help you determine the right path for you.

What Does an Environmental Economist Do?

Environmental Economists examine how economic activities impact the environment and how environmental policies influence the economy. Their primary goal is to develop strategies and solutions that promote sustainable development. Key responsibilities of an Environmental Economist include:

Skills and Qualifications

To succeed as an Environmental Economist, professionals need a combination of analytical, communication, and technical skills and a strong foundation in economics and environmental science. Key skills and qualifications include:

Analytical Skills: Ability to interpret complex data and assess the economic implications of environmental issues.
Quantitative Skills: Proficiency in statistical analysis, econometrics, and mathematical modeling to evaluate policy impacts.
Communication Skills: Capability to present technical findings clearly to non-specialist audiences, policymakers, and stakeholders.
Knowledge of Environmental Science: Understanding ecological processes, climate science, and natural resource management.
Project Management: Experience managing research projects, from data collection to final reporting.

Typical Work Environments

Environmental Economists work in a variety of settings, including:

Government Agencies: Developing and evaluating public policies to reduce pollution, manage natural resources, and promote sustainable practices.
Consulting Firms: Advising businesses and organizations on environmental compliance, sustainability strategies, and economic impact assessments.
Non-Governmental Organizations (NGOs): Researching and advocating for environmental policies to combat climate change and protect ecosystems.
Academic Institutions: Conducting research and teaching future environmental economists.
International Organizations: Collaborating on global environmental initiatives and policy frameworks, such as those led by the United Nations or World Bank.

Career Outlook and Salary

The demand for Environmental Economists is growing as environmental issues become more urgent and integrated into economic planning. The Bureau of Labor Statistics (BLS) projects a steady increase in employment opportunities for economists, including those specializing in environmental fields.

Salary Range: According to recent data, Environmental Economists can earn between $70,000 and $150,000 per year, depending on their experience level, education, and the organization they work for.
Job Growth: Increasing global focus on sustainability, climate change mitigation, and renewable energy is expected to drive demand for expertise in this field.

Challenges and Opportunities

Challenges: Balancing economic growth with environmental protection, dealing with political and regulatory constraints, and communicating complex data to diverse audiences.
Opportunities: Shaping public policy, contributing to corporate sustainability initiatives, and driving innovation in green technologies and sustainable development strategies.

Environmental Economics is a dynamic field that offers the chance to significantly impact both economic systems and the health of the planet.

What Is the Working Environment Like for an Environmental Economist?

Environmental Economists work in diverse settings, from government agencies and academic institutions to private corporations and non-profit organizations. Their work environments can vary significantly depending on their employer and the specific nature of their projects.

Typical Work Settings

Government Agencies: Many Environmental Economists work for federal, state, or local governments, analyzing public policies related to environmental protection, resource management, and climate change mitigation.
Research Institutions and Universities: Academics may focus on theoretical research, teaching, and publishing in academic journals.
Private Sector: Corporations hire Environmental Economists to assess their operations’ environmental impact and ensure compliance with regulations.
Non-Profit Organizations: These professionals may work with NGOs on sustainability initiatives, conservation efforts, and advocacy for environmental policies.

Work-Life Balance

While most Environmental Economists work standard business hours, deadlines and project-based work sometimes require overtime. Fieldwork, attending conferences, and engaging in public consultations can also be part of the job, adding variety to the work environment.

How Do You Become an Environmental Economist?

Education and Training

Bachelor’s Degree: The first step is a degree in economics, environmental science, or a related field. Coursework in microeconomics, macroeconomics, environmental studies, and statistics is essential.
Master’s Degree: Most Environmental Economists pursue a master’s degree in Environmental Economics, Environmental Policy, or Resource Economics. This advanced training focuses on applying economic principles to environmental issues.
Doctoral Degree (Optional): A Ph.D. is often required for research and academic positions or for high-level policy development roles.

Certifications and Skills

Certifications: While not always necessary, certifications in environmental management, policy analysis, or data science can enhance employability.
Key Skills: Critical skills include analytical thinking, statistical modeling, communication, and a strong understanding of environmental regulations.

Helpful Resources

American Economic Association (AEA): www.aeaweb.org – Offers resources for economists, including job postings and career advice.
O*NET Online Environmental Economist Profile: O*NET

What Is the Salary of an Environmental Economist?

The salary for Environmental Economists varies based on education, experience, and employer. According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for economists, including Environmental Economists, was $108,350 as of May 2023. Entry-level positions may start at around $63,000, while experienced professionals can earn upwards of $160,000 annually.

For the most recent salary information, visit the BLS Occupational Outlook for Economists.

What Is the Labor Market for an Environmental Economist?

Job Outlook

The demand for Environmental Economists is expected to grow steadily due to the increasing emphasis on sustainable development and climate change mitigation. According to the BLS, employment for economists is projected to grow 6% from 2022 to 2032, which aligns with the average for all occupations.

Visit the BLS Job Outlook for Economists for more details.

What Are the Pros and Cons of Being an Environmental Economist?

Pros

Impactful Work: Contribute to sustainable policies and environmental conservation.
Diverse Career Opportunities: Work in government, academia, private sector, or non-profits.
High Earning Potential: Competitive salaries, especially in senior roles.
Intellectually Stimulating: Engage in complex problem-solving and policy development.

Cons

Complex Decision-Making: Balancing economic and environmental considerations can be challenging.
High Education Requirements: Advanced degrees often require significant time and financial investment.
Policy Challenges: Implementation of recommendations can face political and societal resistance.

What Are Related Jobs for an Environmental Economist?

Below are related careers with links to more detailed information from O*NET:

Economist – Researches economic data, develops forecasts, and advises on economic policies.
Environmental Scientist – Studies environmental problems and develops solutions to protect the environment.
Urban and Regional Planner – Develops land use plans and programs to create sustainable communities.
Policy Analyst – Evaluates public policies and recommends legislative and program changes.
Natural Resource Manager – Manages the conservation and sustainable use of natural resources.

What Types of Jobs Can an Environmental Economist Pursue?

Environmental Economists can work in various roles, including:

Environmental Policy Advisor: Works with governments or organizations to develop eco-friendly policies.
Sustainability Consultant: Helps companies implement sustainable business practices.
Academic Researcher: Conducts studies and teaches environmental economics at universities.
Corporate Environmental Strategist: Develop strategies to minimize environmental impact while maximizing profitability.

How Do I Know if I Should Be an Environmental Economist?

Choosing the right career requires self-reflection and understanding your interests, skills, and values. Environmental Economics is a dynamic field where passion for the environment meets the practical world of economic policy and data analysis. Let’s identify critical areas to assess whether this path aligns with your career goals.

Interest in Economics and Sustainability

At the heart of Environmental Economics lies the desire to bridge economic growth with environmental stewardship. You’ll need to enjoy working with economic models, data, and statistics while being deeply committed to solving environmental challenges. This field requires curiosity about how economic activities—like manufacturing, energy production, and urban development—impact natural resources and ecosystems. If topics like climate change, renewable energy policies, or environmental regulations excite you, this career could be a natural fit.

Strong Analytical and Communication Skills

Success in this field relies on more than just number-crunching. While you’ll spend significant time analyzing data, interpreting economic models, and conducting cost-benefit analyses, your ability to translate these findings into actionable insights is equally critical. You’ll need to communicate complex information clearly to stakeholders, including policymakers, business leaders, and the public. Skills in writing comprehensive reports, delivering presentations, and collaborating across disciplines are essential to make an impact.

Problem-Solving Orientation

Environmental Economists often work on complex, multi-dimensional problems that require innovative solutions. Whether it’s developing market-based solutions for reducing carbon emissions or assessing the economic impact of conservation policies, your ability to approach problems creatively and strategically will set you apart. If you enjoy troubleshooting complex issues and devising long-term solutions, this field will offer plenty of opportunities to apply those strengths.

Career Aptitude Tests

Determining if your skills and interests match a career in Environmental Economics can be daunting. A career aptitude test can offer valuable insights into your strengths and help guide your decision-making. The Free Career Fit Test™ is an excellent tool for evaluating your suitability for a career in this field. This test assesses your top transferable, personal, and content skills, providing a comprehensive picture of how your abilities align with various jobs, including Environmental Economics.

Informational Interviewing: A Key Strategy

Informational interviews are one of the most effective ways to gain firsthand knowledge about a career in Environmental Economics. By connecting with professionals working in the field, you can learn about their day-to-day responsibilities, career paths, and advice for aspiring Environmental Economists.

How to Find Professionals for Informational Interviews

LinkedIn Networking: Use LinkedIn to search for Environmental Economists in various industries. Send personalized connection requests and express your interest in learning more about their career journey.
Professional Associations: Organizations like the National Association for Business Economics (NABE) or the Association of Environmental and Resource Economists (AERE) often have member directories or networking events where you can connect with industry professionals.
University Alumni Networks: If you’re currently a student or a recent graduate, reach out to your university’s career services or alumni network for connections in Environmental Economics. Alumni are often willing to offer guidance and insights to current students and graduates.

Questions to Ask in an Informational Interview

What does a typical day look like in your role as an Environmental Economist?
What skills and qualifications are most valuable in this field?
What are the biggest challenges and rewards in your job?
How did you get started in this career, and what advice would you give to someone entering the field?
Are there any emerging trends or opportunities in Environmental Economics that I should be aware of?

Taking the time to have these conversations can give you a clearer picture of whether this career is right for you and help you build a network of contacts that could lead to future job opportunities.

Should You Consider This Career?

If you find yourself drawn to solving big-picture issues involving economics, sustainability, and public policy, Environmental Economics may be rewarding. However, success in this field requires a combination of passion, analytical rigor, and effective communication skills. Consider taking the Free Career Fit Test™ to determine if your natural abilities align with this demanding yet impactful profession. Additionally, conducting informational interviews and seeking mentorship will provide invaluable guidance as you navigate this career path.

How Can I Learn More About a Career as an Environmental Economist?

Here are some valuable resources to further explore this career:

O*NET Online: Environmental Economist Profile
National Association for Business Economics (NABE): www.nabe.com
U.S. Environmental Protection Agency (EPA): www.epa.gov

Conclusion

Becoming an Environmental Economist offers the opportunity to make a meaningful impact on the economy and the environment. If you’re interested in a career that balances analytical rigor with sustainability, this could be the right path for you. A career test like the Free Career Fit Test™ can help determine if Environmental Economics aligns with your skills, interests, and long-term goals. Explore informational interviews and industry resources to understand this rewarding career better.

How to Become an Environmental Economist: Is It the Right Career for You?