Spending two years in a master's program means having two fewer years to earn an income and build your career. The analytical problem-solving skills that come from studying economics will help you stand out as a candidate in many fields.
Will you have to take on additional student loan debt? Grad school might be a good option if you're reasonably certain of the career you want, and your odds of succeeding in that career will be better with an advanced degree. Knowing how to analyze data to predict future economically oriented events differentiates you from many other liberal arts graduates. These professionals analyze data from patient files, billing records, and hospital inventories to make projections and find inefficiencies. What can you expect from an MBA in sustainable leadership. Many areas of law such as corporate law, tax law, antitrust law, personal injury, and medical malpractice involve the application of micro- and macroeconomic analysis. However, the reality is that, in many cases, you will need to go beyond a bachelor's. The role of an economic researcher requires in-depth knowledge of economic theories and models, thorough analytical and problem-solving skills and mathematical ability. Well, you may want to also consider these broader options: business intelligence, international development, human resource management, IT, journalism, law, management, market research, politics, public relations, social research and taxation. Data entry jobs are exactly what they sound like! Actuaries should be skilled in mathematics and compiling statistics, but also able to communicate complex data effectively to non-experts. You might need to start the process of becoming a certified public accountant (CPA), which requires passing an exam. A bachelor's degree in economics (including some accounting courses) is a good foundation for this career. View more accountancy, banking and finance jobs, charitable and not-for-profit organisations. Economics graduates can cast a much wider net in their job search. 
"I recommend using Trade-Schools.net because you can find the program that you are interested in nearby or online.". in economics focuses heavily on math and statistics, and it will prepare you for jobs that require advanced data analysis or modeling. 9 Skills You'll Need to Succeed In a Post-Coronavirus Business World, 5 Reasons Why You Should Study an International Relations Masters, 7 Ways This University Is Helping Students Find Their Purpose, How to Answer the Most Common Job Interview Questions, 10 Great Graduate Careers You Can Get With Any Degree, Find your perfect University program with our matching tool. With a background in economics it seems anything is possible. A sound awareness of current affairs and economic contexts is essential in these roles. Future Skills Youll Need In Your Career By 2030. Mike Profita is a guest author for The Balance Careers who covers topics surrounding the hurdles of the job search and career transitions. After all, those who complete economics programs can find work in a variety of industries, from banking and insurance to real estate and public serviceand almost none of those jobs specifically ask for economists. They must gather facts and evidence to support a position. They must be able to quantify results and present this information to clients. A master's degree in economics typically takes two additional years after earning your bachelor's degree, and a Ph.D. takes even longer.
Lawyers must compellingly present their findings to convince a judge, jury, or opposing attorney of their position. Disclaimer, On a scale where 1 is dislike and 5 is like. What Can You Do With an Economics Degree? is part of our What Can You Do With series. LnRiLWZpZWxke21hcmdpbi1ib3R0b206MC43NmVtfS50Yi1maWVsZC0tbGVmdHt0ZXh0LWFsaWduOmxlZnR9LnRiLWZpZWxkLS1jZW50ZXJ7dGV4dC1hbGlnbjpjZW50ZXJ9LnRiLWZpZWxkLS1yaWdodHt0ZXh0LWFsaWduOnJpZ2h0fS50Yi1maWVsZF9fc2t5cGVfcHJldmlld3twYWRkaW5nOjEwcHggMjBweDtib3JkZXItcmFkaXVzOjNweDtjb2xvcjojZmZmO2JhY2tncm91bmQ6IzAwYWZlZTtkaXNwbGF5OmlubGluZS1ibG9ja311bC5nbGlkZV9fc2xpZGVze21hcmdpbjowfQ==, IC50Yi1ncmlkLC50Yi1ncmlkPi5ibG9jay1lZGl0b3ItaW5uZXItYmxvY2tzPi5ibG9jay1lZGl0b3ItYmxvY2stbGlzdF9fbGF5b3V0e2Rpc3BsYXk6Z3JpZDtncmlkLXJvdy1nYXA6MjVweDtncmlkLWNvbHVtbi1nYXA6MjVweH0udGItZ3JpZC1pdGVte2JhY2tncm91bmQ6I2QzOGEwMztwYWRkaW5nOjMwcHh9LnRiLWdyaWQtY29sdW1ue2ZsZXgtd3JhcDp3cmFwfS50Yi1ncmlkLWNvbHVtbj4qe3dpZHRoOjEwMCV9LnRiLWdyaWQtY29sdW1uLnRiLWdyaWQtYWxpZ24tdG9we3dpZHRoOjEwMCU7ZGlzcGxheTpmbGV4O2FsaWduLWNvbnRlbnQ6ZmxleC1zdGFydH0udGItZ3JpZC1jb2x1bW4udGItZ3JpZC1hbGlnbi1jZW50ZXJ7d2lkdGg6MTAwJTtkaXNwbGF5OmZsZXg7YWxpZ24tY29udGVudDpjZW50ZXJ9LnRiLWdyaWQtY29sdW1uLnRiLWdyaWQtYWxpZ24tYm90dG9te3dpZHRoOjEwMCU7ZGlzcGxheTpmbGV4O2FsaWduLWNvbnRlbnQ6ZmxleC1lbmR9QG1lZGlhIG9ubHkgc2NyZWVuIGFuZCAobWF4LXdpZHRoOiA3ODFweCkgeyAgLnRiLWdyaWQsLnRiLWdyaWQ+LmJsb2NrLWVkaXRvci1pbm5lci1ibG9ja3M+LmJsb2NrLWVkaXRvci1ibG9jay1saXN0X19sYXlvdXR7ZGlzcGxheTpncmlkO2dyaWQtcm93LWdhcDoyNXB4O2dyaWQtY29sdW1uLWdhcDoyNXB4fS50Yi1ncmlkLWl0ZW17YmFja2dyb3VuZDojZDM4YTAzO3BhZGRpbmc6MzBweH0udGItZ3JpZC1jb2x1bW57ZmxleC13cmFwOndyYXB9LnRiLWdyaWQtY29sdW1uPip7d2lkdGg6MTAwJX0udGItZ3JpZC1jb2x1bW4udGItZ3JpZC1hbGlnbi10b3B7d2lkdGg6MTAwJTtkaXNwbGF5OmZsZXg7YWxpZ24tY29udGVudDpmbGV4LXN0YXJ0fS50Yi1ncmlkLWNvbHVtbi50Yi1ncmlkLWFsaWduLWNlbnRlcnt3aWR0aDoxMDAlO2Rpc3BsYXk6ZmxleDthbGlnbi1jb250ZW50OmNlbnRlcn0udGItZ3JpZC1jb2x1bW4udGItZ3JpZC1hbGlnbi1ib3R0b217d2lkdGg6MTAwJTtkaXNwbGF5OmZsZXg7YWxpZ24tY29udGVudDpmbGV4LWVuZH0gfSBAbWVkaWEgb25seSBzY3JlZW4gYW5kIChtYXgtd2lkdGg6IDY1MHB4KSB7ICAudGItZ3JpZCwudGItZ3JpZD4uYmxvY2stZWRpdG9yLWlubmVyLWJsb2Nrcz4uYmxvY2stZWRpdG9yLWJsb2NrLWxpc3RfX2xheW91dHtkaXNwbGF5OmdyaWQ7Z3JpZC1yb3ctZ2FwOjI1cHg7Z3JpZC1jb2x1bW4tZ2FwOjI1cHh9LnRiLWdyaWQtaXRlbXtiYWNrZ3JvdW5kOiNkMzhhMDM7cGFkZGluZzozMHB4fS50Yi1ncmlkLWNvbHVtbntmbGV4LXdyYXA6d3JhcH0udGItZ3JpZC1jb2x1bW4+Knt3aWR0aDoxMDAlfS50Yi1ncmlkLWNvbHVtbi50Yi1ncmlkLWFsaWduLXRvcHt3aWR0aDoxMDAlO2Rpc3BsYXk6ZmxleDthbGlnbi1jb250ZW50OmZsZXgtc3RhcnR9LnRiLWdyaWQtY29sdW1uLnRiLWdyaWQtYWxpZ24tY2VudGVye3dpZHRoOjEwMCU7ZGlzcGxheTpmbGV4O2FsaWduLWNvbnRlbnQ6Y2VudGVyfS50Yi1ncmlkLWNvbHVtbi50Yi1ncmlkLWFsaWduLWJvdHRvbXt3aWR0aDoxMDAlO2Rpc3BsYXk6ZmxleDthbGlnbi1jb250ZW50OmZsZXgtZW5kfSB9IA==, Salarship.com is the sole proprietorship of. What Can You Do With a Psychology Degree? They design surveys, collect data, and communicate the results to policymakers and others. Lawyers draw on research and writing skills to carry out their work. Economics occupies a unique position at the intersection of arts, science, and math. Theyre jobs that involve entering data, such as: You are typically asked to perform on-demand tasks that computers are unable to do. They also assist students with homework, test preparation, and other academic duties. At the university level, economics students can tutor any courses they passed with flying colors. Like economics majors, they are trained to design studies and to gather and analyze data. In larger companies, the positions might be split in two. Operations research analysts examine data to help organizations solve problems like how to use resources, manage the supply chain, and set prices. They must think critically about products and services and be adept at solving problems. An internship experience is a big plus in this field. Actuariesapply advanced mathematical and statistical skills to determine the likelihood of events like fires, deaths, illnesses, and business failures. A Bachelor of Science (B.S.) The main role of an auditor is to review and verify the accuracy of an accountant's work. They look for financial mismanagement or inaccurate reporting, and identify ways to eliminate fraud. Make sure you focus your analytical eyes on your own situation. Economics grads made more than those with engineering, law, and computer science degrees. Management analysts help companies find new and better ways of doing business. Some companies prefer to hire candidates with a master's degree in accounting. Such skills apply to a wide range of jobs. Thanks in large part to the most recent global recession, and the tightening of economic regulation by governments across the globe, economics students are currently seeing an increase in demand in this sector. You need to be good at strategic planning and resource allocation to succeed in this field. Our expert teams can help start your academic journey by guiding you through the application process. Other common economics careers and roles include auditor, stockbroker, insurer, business manager, retail merchandizer, pricing analyst, statistician, financial consultant and salesperson.
Management consultantsanalyze business problems and research possible solutions to present to clients. Those who study economics will be valued in all areas of public and private spending, including roles within pricing and risk analysis, financial consultancy and economic planning. They find jobs like the ones listed in this article, and they enjoy median salaries that are generally higher than the ones listed for economists. A bachelor's degree is enough for entry-level positions, but you will need an advanced degree to move up in this field. Virtual assistants are administrative assistants from home. Most entry-level jobs in economics require at least a bachelor's degree. But what can you do with an economics degree if none of the above appeals to you? Economic consultants can also act as expert witnesses in legal cases to assess economic damages, analyze intellectual property and antitrust violations, and to address regulatory violations. For the majority of economist careers, youll need to study economics at postgraduate level to gain the specialist skills required. Economists and economics experts are at the heart of the business world and financial consulting. Join Over 1.5 Million People We've Introduced to Awesome Schools Since 2001, Trade Schools Home > Articles > Jobs for Economics Majors, By Publisher | Last Updated March 28, 2022. Gain economics knowledge that is not taught in the classroom. There are plenty of good jobs available to those with a bachelor's degree. You can start that process in your senior year of college. Good news: we gathered the best jobs for economics students. This article was originally published in February 2016 and has since been updated in November 2019. Many informatics companies need healthcare analytics specialists to study the performance patterns of different hospital departments and recommend ways to streamline and improve processes. You can use an economics degree to study industry trends, labor markets, the prospects for individual companies, and the forces that drive the economy. . They analyze industry trends to help organizations improve their performance. These professionals collect data on costs and productivity to evaluate shipping processes and identify problems. Manufacturing firms, retail businesses, and transportation service providers rely on supply chain analysts (also known as logisticians) to ensure that getting products from warehouses to end-users operates as efficiently as possible. Economics graduates are often able to make sense of complex data sets and identify the root of financial problems, making them good matches for accountancy roles. Statisticians gather and analyze data to detect trends and relationships.
Copyright 2022 Jisc.All rights reserved. It thus tends to incorporate more psychology or sociology in the mix. They're adept at manipulating data, recognizing linkages between trends, producers, and consumers, and understanding how daily transactions contribute to overall economic trends. Economist careers in the public sector are often involved in public taxation, transport, commercial and waste services, energy and other forms of government spending. While graduates with a degree in economics are masters of the chart and graph as tools for summarizing trends and results, the ability to write clear descriptions and present complicated information to others are also vital skills for the economics major. Answer these 3 easy questions to get started, how to decide if you need a graduate degree, 17 entry-level jobs for economics majors with a bachelor's degree, 3 jobs that require additional training or significant experience, How to decide if you need a graduate degree, Median salary: $104,280 per year (among all medical and health services managers), Median salary: $63,960 per year (among all loan officers), Median salary: $64,770 per year (among all securities, commodities, and financial service sales agents), Median salary: $49,300 per year (among all news analysts, reporters, and journalists). If you're the analytical type, fascinated by the world around you, then an economics major might be a good choice for you. To be a professional economist youll also need to be confident in producing economic forecasts and reports to present to clients (individuals, companies, financial organizations and public bodies) and to advise on policy and/or business strategy accordingly. Possible employers include local and national government, public and private banks, insurance companies, think-tanks, large multinational companies, financial consultancies, accountancy firms and local authorities. An undergraduate degree in economics can be a good starting point for law, consulting, and government service careers. The ability to write about economic issues in plain language that the average viewer or reader can comprehend is also vital. They typically work for private corporations, think tanks, or government agencies. Business/economics reporters research, write and broadcast stories about business leaders, companies, industry trends, economic developments, and financial markets. You need to be well versed in calculus, probability, survey methodology, and statistical theory to make it in this job. They take into account economic trends and factors impacting the region, industries, and competitors of prospective clients. One study in the U.K. found that 10 years after graduation, the average salaries of economics graduates were higher than those of every other major except medicine. Taking courses in business, finance, and accounting during your degree can be helpful. As a market research analyst, your job is to survey a business segment to determine what products will sell well, who will buy them, and how much companies can charge for them. Our process strives to ensure the highest-quality matches between schools and learners. However, many entry-level positions are open to those with a bachelor's degree in economics. Their work influences a company's policy decisions. Want more content like this? Financial management is considered a classic job for business economics majors. In essence, they are ongoing students of economics as applied to the modern world. Given the breadth of the major, there are many possible career choices for people with an economics degree. And while a bachelor's degree can open many doors, advancing to more senior positions might require a master's degree or even higher credentials.
It's equal parts creative and analytical, and it can be a very rewarding field. Economic knowledge is critical to understanding many of the issues and for creating affordable solutions. Keep in mind that unless otherwise noted, the salaries listed here are median numbers across the entire occupation and do not necessarily reflect what you would earn as a starting wage. An undergraduate degree is a minimum requirement, but most employers look for candidates with a master's degree and five-plus years of experience in the financial field. You need to keep up-to-date with happenings in the financial markets to make it as a securities trader. In accounting roles you can work across multiple industries, focusing on monitoring the financial situation of an organization, business or individual. An actuary uses numerical analysis to calculate and manage risk. Which Type of Engineering Should You Study? However, it looks more at the behavioral aspect of economics. Tochoose the right careeryou will need to consider your other skills, interests, and values. Insurance underwriters evaluate the risks involved in insuring a person or company. Common career paths for economics graduates include: While some choose to continue tostudy economicsat graduate level (e.g. They study the costs of policy or program decisions and recommend funding levels. These human resources professionals research compensation statistics and perform market analysis to determine appropriate salary and benefits packages for different jobs. At its heart, it's the study of behavior: how people choose to use limited resources to satisfy unlimited needs. Compensation and benefits managers research pay and benefits in similar organizations within their industry to establish a competitive structure for their companys pay and benefits. Wage information is current as of March 23, 2022. Guiding companies' investment decisions is the job of financial analysts. A Bachelor of Arts (B.A.) Their job involves: Teaching assistants support the professor in charge of the classroom. Most firms will make qualifying for the license a condition for hiring you. And an education in economics can lead to some pretty powerful positions: Several high-ranking judges, business executives, and world leaders started out with economics degrees. And if you're trying to decide if economics is right for you, you might find it helpful to read our section outlining some of the benefits of an economics education. It was last updated in January 2022. An actuary's job is to analyze the likelihood of future events and identify ways to minimize the risk of adverse outcomes. You will need to apply for membership in a professional actuarial society and pass a series of exams to be certified. They also analyze revenue and expenses to project future financial needs. They use sophisticated statistical modeling software to assess the likely consequences of process or organizational changes. Once you have at least three years of experience, you can apply for certification through the American Health Information Management Association. They study trends in the labor market and assess supply and demand for various classes of job. Your job is to make sure clients comply with the terms of their loan agreement. Want more content like this Register for free site membership to get regular updates and your own personal content feed. Financial analystsresearch companies, industries, stocks, bonds, and other investment vehicles for finance departments. The curiosity that economics majors often possess about how the economic world functions is essential for success in this field. Here are some job options to consider when you're choosing acareer pathwith a degree in economics. It involves analyzing market trends to find ways to reduce a business's costs and increase its profits. You can assess the risks of an investment opportunity, the benefits and costs of different career choices, and the potential impacts of public policies like health care and taxation. Develop a mentoring relationship with a faculty member. Writing and public speaking skills are also necessary when writing reports and presenting recommendations to clients. Do you love number crunching? All of these things will help you become a more responsible consumer. Trade-Schools.net works with schools and colleges in North America to find prospective students and is compensated for successful connections. Part of the role involves ensuring that borrowers are treated fairly and that the financial institutions are prepared to handle any unexpected losses. An economics degree will boost your employability in many areas, regardless of the industry you work in. A degree ineconomicscan help you get started in many areas, including public policy and finance. Handling the day-to-day financial transactions of companies is the job of accountants. To become a qualified accountant youll need further professional qualifications, but many accountancy roles are available to those who studied economics. Most entry-level job roles in this field are within pensions and insurance, but later on you may have the opportunity to move towards areas including banking, investment and healthcare. Your job is to make the worlds of economics and commerce understandable to the average person. The type of job you find will depend somewhat on the kind of degree you get. A graduate of Queen Mary University of London, Laura also blogs about student life. Individuals working in economics must be able to translate their complex findings into a format that business leaders, legislators, and everyday people can understand. They calculate payroll, file tax returns, and prepare year-end financial statements. Some positions require that you get a license from the Financial Industry Regulatory Authority (FINRA), but employers don't generally expect you to have that before you start. Spending time and money on more schooling might not make sense if you don't have an end goal. In addition to having a firm understanding of marketing, you need to be detail-oriented and have good quantitative abilities for this work. At the high school level, parents often hire economics students to teach algebra, calculus, trigonometry, statistics, accounting, and personal finance. main image, QS Master's Events in Middle East and Africa, Discover the top universities for economics. They analyze financial statements to understand a client's economic background, and determine appropriate insurance coverage amounts and premiums. Methodology: To rank these student jobs, we took into consideration criteria like training time, salary, career advancement for economics students, and flexibility (low minimum workload, work-at-home, and online jobs). They also create models to predict the impact of investments, policy decisions, industry trends, demographics, climate change, and much more.