Quick FactDue to economics being involved in virtually every field in the modern world, economics majors are in great demand. According to CareerBuilder economics majors have one of the highest starting median salary of all majors - approx. $55,000).
An economics degree can be your key to various high-paying jobs spread across a number of specializations. There are many careers that are available to you directly after completing your economics degree, while even more options open up if you complete your Master's degree. A Ph.D. in economics is the highest degree in economics, and opens the door to the very elite - and most lucrative - jobs.
Economics is a very important subject in the modern world. It connects various factions in global trade and, if utilized properly, can be an important tool for world peace.
A holder of an economics degree is not just skilled in his subject matter, but is likely to be adept at other aspects such as communication and presentation skills, and problem solving ability. This allows economics degree holders to apply for jobs not strictly related to commerce.
Here are the best avenues available for an economics degree holder.
NOTE: The jobs described in this list are not entry-level designations, and require considerable experience. The salaries are referenced from glassdoor and U. S. News, and are rounded off to the nearest thousand.
Best Jobs For Economics Majors
: approx. $55,000
Responsible for the general maintenance and optimum functioning of a branch of a bank, a bank manager has to be adept at human resource management, dealing with clients, the technology used by the bank, and at general bookkeeping. A bank manager is also responsible for staffing and training new employees.
Economists set the financial policy of a company. They study the trends in global economical policy-making to predict future developments, and adjust their own policies to align with the global trend.
Financial Research Analyst
Financial analysts - as is clear from the name - analyze financial data received from a client, and present their conclusions about the financial health of the client's enterprise. Their reports are used by the top brass of the company to make decisions about the company's future.
Management consultants review and, if need be, restructure a client company's remuneration system, structure, and staffing strategy in accordance to a given set of corporate objectives.
Market Research Analyst
Research analysts analyze the market research about a specialized area and present a conclusion about their client's place in that specific field.
Financial planners are described as sales persons of a variety of financial services.
: $60,000 (highly variable)
Policy analysts are responsible for the creation or restructuring of policies, governmental or private.
Chartered accountants hold a high rank when it comes to jobs related to commerce and economy. CAs have to do much of what everybody else on this list. To become a chartered accountant (Certified Public Accountant in the US), you have to pass the CPA exam.
Auditors, as is obvious from the title, carry out audits of a company's financial reports.
There are various other jobs that economics majors can do. Many of these designations come under the umbrella term financial adviser
Financial Adviser and Other Jobs
Average Salary: $70,000
Average Salary: $47,000 (depends on type of insurance)
Average Salary: $45,000
Average Salary: $69,000
Average Salary: $88,000
Average Salary: $50,000
Real Estate Agent
Average Salary: $50,000-$70,000 (highly reliant on commission)
Average Salary: $60,000
Health Policy Analyst
Average Salary: $70,000
Average Salary: $98,000
Economics degree holders can get a wide range of jobs due to the diverse training they receive. Economy majors can study law or the social sciences. They can also be good at hospitality and catering. More than the remuneration, it is more important to find your own niche, and enjoy what you do.