10 Careers You Can Pursue with an Economics Degree.Economics is a difficult field of study, and its combination of complex topics such as statistics and political analysis can sometimes cause intimidated students to label it as “boring.”
However, the professions obtainable with an economics degree are everything but dull. People who are capable of tackling difficult theories, calculations, and projections are qualified for a wide range of jobs, including prestigious government positions.
While some occupations require additional education or certification, there are numerous entry-level employment with growth opportunities and excellent compensation. There are a few basic tips for getting the most of your education, but you may be surprised by the variety of additional professions available to you.Sit back and read on Careers You Can Pursue with an Economics Degree!
List of the Careers You Can Pursue with an Economics Degree
The following is a list of the Careers You Can Pursue with an Economics Degree:
1. Environmental Economist
Average salary: $93,070 / £52,500
Are you concerned about industrial pollution, ocean trash, and excessive deforestation? Do you wish you could alter policies to address these issues? You can do exactly that as an economist, especially since the majority of environmental economists work for the government.
This Careers You Can Pursue with an Economics Degree do research, analyze historical data, and evaluate the economic impact of environmental changes using statistical tools and complicated modeling systems.
You might also conduct cost-benefit evaluations of green technology to influence their deployment, as well as suggest economic incentives and trade regulations that support business practices favoring improvements to air quality, global temperature, plant life, and other environmental factors.
2. Personal Financial Adviser
Average salary: $88,890 / £57,500
After investing time, effort, and money in an economics degree, it is prudent to choose a career path with opportunities for progression and anticipated job growth over the next few years. This Careers You Can Pursue with an Economics Degree is also ideal for students who wish to blend their interpersonal talents with their newly acquired business, banking, and finance knowledge.
Personal financial counselors assist clients with their budgets, taxes, mortgages, insurance, investments, and retirement objectives. There are entry-level opportunities available, and additional training and certification in financial planning might earn you a six-figure compensation.
3. Chartered Accountant
Average salary: $70,500 / £62,500
The beauty of a career as an accountant is the variety of potential positions, as many types of businesses and individuals of varying income levels want aid with financial concerns. Depending on personal taste, you can pick between a straightforward work in a private tax practice and a high-pressure position with a large organization that involves dealing with intricate budgets and international financial rules.
This Careers You Can Pursue with an Economics Degree are ideal for individuals who enjoy precise work, number crunching, financial research, and forecasting.
Looking for more excitement? Consider a position as a forensic accountant, supporting law enforcement authorities with the tracking of money in embezzlement, corruption, and other criminal situations.
4. Analyst for Market Research
Average salary: $63,120 / £41,000
Your economics degree can help you gain a position as a market research analyst, as the rapid evolution of technology has made marketing careers more intriguing and difficult than ever. This is yet another Careers You Can Pursue with an Economics Degree and also with a favorable employment outlook, as organizations increasingly want reliable information to inform their business decisions.
You will evaluate economic and industrial trends, as well as collect surveys and information, in order to advise businesses on what products will sell well, to which consumer group, and at what price. A background in psychology and proficiency with social media analytics can give you an advantage over other applicants for a job.
5. Business Reporter
Average salary: $43,490 / £32,000
Consider pursuing a career as a business writer if you enjoy the idea of using your newly acquired knowledge to inform and educate others. Your economics degree qualifies you as an expert, but your success as a freelancer, columnist, or television correspondent depends on your capacity to explain difficult business and financial concepts to the ordinary Joe.
Creating a personal brand is one approach to distinguish yourself from other prospects and land an outstanding graduate job. This will be especially useful for landing a job as a business writer, as online magazines are particularly fond of recruiting candidates with an established social media presence and following.However, it is another Careers You Can Pursue with an Economics Degree.
Average salary: $102,880 / £50,000
Actuarial work include estimating risk, giving a monetary value to prospective events, and assisting organizations in planning for and, ideally, mitigating adverse consequences. This Careers You Can Pursue with an Economics Degree position is essential to the insurance and healthcare industries, but there are also opportunities in government, the stock market, and banking.
After receiving a degree in economics, if you find statistical analysis and predictive problem-solving addictive and you don’t mind potentially morbid aspects of the profession, becoming an actuary could be an ideal career choice. Apprenticeship and certification can lead to high-paying positions, particularly in the United States.
7. Financial Analyst
Average salary: $85,660 / £51,000
As you evaluate the various careers you might obtain with an economics degree, you may desire something with a high degree of daily diversity.
The fundamental function of a financial analyst is to provide investment recommendations to clients. To thoroughly analyze a company’s future, you will need to conduct study on previous financial data, stay abreast of continuously moving economic and business trends, and visit the company in person.
Some analysts specialize in particular industries or locations, which affords them the opportunity to travel and investigate a region’s culture, political climate, and impact on investments. A Master of Fine Arts degree will help you develop in your job.
Average salary: $64,120 / £74,500
If you’re searching for a job with constant excitement that needs rapid thinking, vigilant monitoring of financial markets, and a great deal of responsibility, you may want to consider becoming a stockbroker.
You will solicit clients and oversee their financial portfolios. In addition, you will purchase and sell stocks, bonds, and commodities such as oil and gold.
Your bachelor’s degree in economics can get you in the door for on-the-job training, but many brokers pursue an MBA to advance their careers. You must also be registered with the Financial Conduct Authority (FCA) in the United Kingdom and the Financial Industry Regulatory Authority in the United States (FINRA).
9. Academic Economist
Average salary: $104,340 / £62,500
One of this Careers You Can Pursue with an Economics Degree is Academic economist. After completing a Bachelor of Arts in economics, the role of economist may appear to be the initial step in a new profession. To pursue a career in research and teaching, however, you will require a master’s or doctoral degree.
As an academic economist, you will have the freedom to investigate the issues and topics that pique your interest, seek publication of your findings, and impart your knowledge to future economists. Communication skills are vital to your efficacy as a teacher and to your ability to raise funds for your study.
10. Economic Officer of the Foreign Service
Average salary: $86, 365 / £35,000
While you may have learnt a great deal about other countries while receiving your degree in economics, this diplomatic position will allow you to gain further firsthand information. Economic officers may represent their nation at a foreign position or serve as official negotiators based at home with regular travel abroad.
As a diplomatic officer in economics, you will examine financial and political trends and cultivate commercial contacts in the host country. Your job facilitates the commercial interests of your own country and can influence trade policies and mutually beneficial economic agreements. Advanced degrees will assist you attain a position at the executive level.
FAQs On Careers You Can Pursue with an Economics Degree
Is economics a good degree?
It's a subject that has major relevance in the solving of problems such as recession, unemployment, global warming and sustainable development, but it also has the potential to land you a lucrative career in banking and finance. This makes it competitive, but it's a degree very much worth having on your CV.
Is economics a hard major?
A college-level economics class can be challenging because you need to grasp new concepts like supply and demand, scarcity, diminishing returns, and opportunity costs. It requires you learn new vocabulary and to use critical thinking skills. But those theories, concepts, and terms build upon one another.
Can I do economics without maths?
Maths is one of the most important subjects for an economics application, but it's not always a requirement. There are normally only a couple of maths intensive modules, and less so for a BA as opposed to a BSc.
Do economists make good money?
Yes, economists typically make a lot of money.
What type of math is used in economics?
Calculus is the most common type of math found in economics. Calculus includes the use of various formulas to measure limits, functions and derivatives. Many economists use differential calculus when measuring economic information.
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