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As of August 01, 2026, the average salary for an Economic Development Specialist in New Mexico is $89,183 per year, which breaks down to an hourly rate of $43.
However, an Economic Development Specialist's salary can vary significantly. Here’s a look at the typical salary range:
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Economic Development Specialist Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $94,860 | $7,905 | $1,824 | $46 |
| Average | $89,183 | $7,432 | $1,715 | $43 |
| 25th Percentile | $80,679 | $6,723 | $1,552 | $39 |
Village of Ruidoso, NM - Ruidoso, NM
State of New Mexico - Santa Fe, NM
State of New Mexico - Bernalillo, NM
Confidential - Las Cruces, NM
An Economic Development Specialist's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of an Economic Development Specialist's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here’s how the average salary grows at different career stages:
| Levels | Salary |
|---|---|
| Economic ... Level Economic Development Specialist | $88,765 |
| Economics... Level Economic Development Specialist | $117,228 |
| Economics... Level Economic Development Specialist | $138,744 |
| Economics... Level Economic Development Specialist | $159,177 |
| VP of Eco... Level Economic Development Specialist | $292,036 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Economic Development Specialists. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
For Economic Development Specialist roles, the industry you choose can affect earning potential by as much as 80% (the gap between the highest and lowest paying industries). Data shows that the Software & Networking and Financial Services sectors offer the strongest compensation, at 30% above the average. In contrast, Economic Development Specialist positions in Transportation or Hospitality & Leisure typically offer lower base pay, as these industries often view Economic Development Specialist as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Software & Networking | $115,938 | $56.0 | 30% |
| Financial Services | $114,154 | $55.0 | 28% |
| Energy & Utilities | $107,019 | $51.0 | 20% |
| Pharmaceuticals | $107,019 | $51.0 | 20% |
| Internet | $104,344 | $50.0 | 17% |
Understanding how an Economic Development Specialist's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $94,860 | $7,905 | $1,824 | $46 |
| Average | $89,183 | $7,432 | $1,715 | $43 |
| 25th Percentile | $80,679 | $6,723 | $1,552 | $39 |
Ready to take the next step in your career? Browse thousands of current Economic Development Specialist job openings on our job board. Use the search bar below to find your perfect match.
Confidential
Las Cruces, NM
Confidential | Las Cruces, NM
Vice President for Research, Creativity, & Economic Development. About the Company. Leading higher education institution. Industry. Higher Education. Type.... more
2 Months Ago
Milton Hershey School
Alameda, NM
Milton Hershey School | Alameda, NM
Milton Hershey School, a cost-free pre-K through 12th grade residential school, is seeking a Youth Development Specialist in the Education, Training & E-Le... more
13 Days Ago
Milton Hershey School
Clovis, NM
Milton Hershey School | Clovis, NM
Milton Hershey School, a cost-free pre-K through 12th grade residential school, is seeking a Youth Development Specialist in the Education, Training & E-Le... more
13 Days Ago
Milton Hershey School
Oil, NM
Milton Hershey School | Oil, NM
Milton Hershey School, a cost-free pre-K through 12th grade residential school, is seeking a Youth Development Specialist in the Education, Training & E-Le... more
13 Days Ago
Milton Hershey School
La Cienga, NM
Milton Hershey School | La Cienga, NM
Milton Hershey School, a cost-free pre-K through 12th grade residential school, is seeking a Youth Development Specialist in the Education, Training & E-Le... more
13 Days Ago
Milton Hershey School
Five Points, NM
Milton Hershey School | Five Points, NM
Milton Hershey School, a cost-free pre-K through 12th grade residential school, is seeking a Youth Development Specialist in the Education, Training & E-Le... more
13 Days Ago
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