The Indian Economic Service, or IES, is a government program within India which utilizes economists to direct economic activity across that country's government. Much like economists working for the U.S. government, they are responsible for collecting various pieces of financial data and analyzing them to determine how an agency can best promote the country's economy. IES officers typically make much less than economists working for various levels of American government.
Officers with the Indian Economic Service are responsible for developing and implementing economic policies to improve the overall Indian economy. According to "The Economic Times," the IES employed 500 economic officers as of September 2011. Top salaries for IES officers reach about 80,000 rupees or about $1,640 per month. Monthly salaries for entry level Indian Economic Service officers range from 15,600 rupees or $319, to 39,100 rupees or about $800.
U.S. Government Economists
The salary range for American economists working for government agencies varies by more than $40,000 per year. According to the U.S. Bureau of Labor Statistics, economists working for the federal government earned an average salary of $107,870 per year, or $51.86 per hour, as of May 2010. Local government economists earned the next highest average salary level, $73,770 per year as of 2010. Economists working for state governments only earned an average 2010 salary of $62,270 per year.
Officers working with the Indian Economic Service help to set economic policy within India's 55 different central government departments. Typically, one IES officer works as a principal adviser within a department and confers with lower-level officers to determine financial strategies for that department. Economists working in different levels of the U.S. government work to collect and analyze data pertinent to the level of government. For example, federal economists collect data on manufacturing, production and worker salaries, while state economists are more focused on demographic data, such as population age or unemployment rate.
In America, federal statistics indicate that job openings for economists will increase by about 6 percent between 2008 and 2018. However, the BLS predicts that most of this growth will happen in private companies and not in the public sector. Advancement for IES officers working in Indian government agencies is also very difficult; only a small percentage of these economists are allowed to reach leadership positions where they can set overall policy for a department.