The Best Career Paths for Economics Majors: Simple Guide
Are you an economics major wondering what to do with your degree? You’re not alone. Many students have a hard time figuring out the best career path for themselves. That’s why we’ve created this free, simple guide to career paths for economics majors. In this guide, we will discuss a variety of career options that are available to you and how to pursue them. We will also provide information on the skills and knowledge that you will need for each career path. So whether you’re still in school or just starting in your career, this guide is for you!
What career for economics majors can you do with an economics degree?
Most economists choose one of three career paths:
- Policymaking
- Academia
- Private Sector
Policymaking careers include working for government agencies at the local, state, or federal levels. These jobs are often in areas such as economic development, labor relations, or tax policy. Economics majors who pursue this career path often start as policy analysts for the government agency they are interested in working for.
Academia is the career path that most economics majors are familiar with. This career option includes becoming a professor at a college or university, conducting research, and publishing papers in academic journals. Many economists who pursue this career path started as graduate students.
The private sector includes a variety of careers such as jobs at banks, studying consumers and trends, working legal cases at law companies, underwriting insurance policies, or working at investment firms. Economics majors who pursue these careers often begin as analysts or associates for these organizations. Understanding the business and finance industry is essential for this career path.
There are also many career options for economics majors outside of the traditional career paths. These include working as a data analyst, economic development specialist, financial planner, and more. No matter what career path you choose, economics majors have a lot of options available to them.
While there are many different career paths that economics majors can pursue, these are the three most common ones. Each career path has its own set of skills and knowledge that you will need to succeed. So if you’re still undecided on what you want to do after graduation, don’t worry!
Entry-level jobs for economics majors
For economics students looking for job opportunities as recent graduates, there are a few avenues you can explore. The most common entry-level jobs for economics majors include working as a research assistant, economic analyst, or financial analyst.
These positions will give you the chance to work with data and learn more about the inner workings of the economy. If you’re interested in pursuing a career in economics, these entry-level jobs are a great way to get your foot in the door.
Advanced career paths for economics majors
Once you have some experience under your belt, there are many different career paths you can take. Some advanced career options for economics majors include working as an economist, financial planner, or data analyst.
If you want to continue working with data and researching economic trends, becoming an economist is a great option. Economists conduct research and analyze data to help businesses and governments make policy decisions.
If you’re interested in helping people save money and plan for their financial future, becoming a financial planner is a great career option. Financial planners provide advice on investing, saving, and managing money.
If you want to work with data but don’t want to conduct research, becoming a data analyst is a good career choice. Data analysts collect and analyze data to help businesses make better decisions.
No matter what career path you choose, there are many opportunities for economics majors to use their skills in the real world. If you’re interested in working with numbers and solving problems, pursuing a career in economics is a great choice for success as one of the top jobs!
Economics Jobs Near Me:
Mid-level jobs for economics majors
Once you have your bachelor’s degree and some analytical skills with experience to put on your resume, you can qualify for many different types of jobs in the field of economics. Here are some career options to consider:
– Data analyst
Similar to credit analysts with data analysis skills, you will be working with data to help make important business decisions. Services that this position also provides include statistical analysis, research, and preparing reports for clients. Many areas with statistics focus on a certain industry as well, such as healthcare or government.
Average salary per year: $60,000
– Budget analyst
This career is perfect for those who want to apply their economics knowledge in a business setting. Many businesses hire analysts to help with marketing strategies, competitive analysis, and business planning. You will also be responsible for analyzing data and presenting your findings to clients.
Average salary per year: $75,000
– Financial analyst
Companies will often hire financial analysts to help with investment decisions and risk management. As a financial analyst, you will be responsible for researching economic trends, analyzing financial statements, and forecasting futures, stocks, market risks, and conditions.
Average salary per year: $85,000
– Research assistant
Employers in sectors such as law demand analyses and the ability to communicate findings well. As a research assistant, you will be responsible for conducting literature reviews, data analysis, and writing reports.
Average salary per year: $50,000-$60,000
– Economic consultant
Consulting firms hire economic consultants to advise their clients on a variety of topics such as market entry strategies, pricing strategies, market research, and advising other investments. Similar to management consultants, studying economics and statistics creates many different job options in consulting even as business reporters.
Average salary per year: $80,000-$100,000
– Economist
An economist is someone that works in either government, organizations, or universities and uses their economic knowledge to research and advise on various topics such as inflation, market trends, and economic growth. Many economists also work as consultants.
Average salary per year: $50,000-$70,000
With a career in economics, you’ll have the opportunity to make a difference in the world by helping businesses and governments make sound decisions. If you’re looking for a challenging and rewarding career, consider pursuing a degree in economics!
How to further your career with economic trends
Economists use market research across many sectors and industries. The most common career path for an economist is to become a financial analyst, which involves working with businesses to make sound investment decisions.
A great way to stay knowledgeable about current market conditions is by visiting the NBER (National Bureau of Economic Research) website, plus there are all kinds of really helpful resources too!
To further your career as an economist, you’ll need to stay up-to-date on economic trends. You can do this by reading industry publications, attending conferences, and networking with other economists. Education in economics doesn’t end once you obtain an economics degree. The study of finance management and careers in economics always remain as economics students progress in their careers.
To qualify for a career as an economist, you’ll need at least a bachelor’s degree in economics. However, many employers prefer candidates with a master’s degree or higher. If you’re interested in pursuing a career in economics, there are many different paths you can take. The most critical thing is to stay positive and a position or career will find that energy and reflect it back.
Economics degree job resources from financial organizations
A lot of employees with careers in economics start their careers in government agencies. There are a lot of services for economics students working towards an economics degree to help focus on sectors or careers. The career paths for economics majors are not as different as one might think. There are career options for economics majors in the corporate sector, public sector, and nonprofit sector.
The most important thing that you can do if you’re interested in a career in economics is to get involved in research projects and internships while you’re still in school because companies look for a sign of improvement from graduates. Also, don’t forget to network! Get to know people in the industry and attend career fairs. Lastly, don’t be afraid to take risks. Many career options for economics majors are outside of the traditional career path. So explore your options and find what you’re passionate about!