If you earn this type of degree, these are the kind of economic major jobs you will find waiting for you after graduating. Another common advanced degree for economics majors to pursue is an MBA. Salary: According to the BLS, the median annual earnings for actuaries in May 2019 was $108,350. While you don’t have to make your decision just yet, now is a great time to start learning more about the different opportunities available to you. If you're an economist and you're thinking about working in the field of international economics, you might be wondering what kind of career options are open to you. It’s also worth considering which kind of working environment is best for you based on your personality and work style. The curiosity that economics majors often possess about how the economic world functions is essential for success in this field. 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. It’s not! list for four years in a row. Are you an employer? Most economics majors know that there are plenty of job opportunities for them in finance and government, but don’t discount the private sector! You can use an economics degree to study industry trends, labor markets, the prospects for individual companies, and the forces that drive the economy. At their core, Data Scientists look at large volumes of data in order to identify trends and derive insights. The bottom 10% earned less than $34,350 and the top 10% earned more than $122,630., Job Outlook: The BLS projected that employment of market research analysts will grow 20% from 2018 to 2028, much faster than the average for all occupations.. Pricing Analysts combine analytical skills and market research to strategically determine the optimal price for products and services. This includes jobs like: If you’re majoring in economics, congratulations — you will likely be entering a lucrative field! Bureau of Labor Statistics. Not sure who to go to? Salary: The BLS estimated that compensation and benefits managers earned a median annual salary of $122,270 in May 2019. Salary: According to PayScale, policy analysts earn an average annual salary of $59,312. These analysts often … The two different types of degree will provide you with a rather different set of options upon graduating, and will require rather different paths to get there. Read on below! Bureau of Labor Statistics. At their core, Data Scientists look at large volumes of data in order to identify trends and derive insights. In today’s high tech, data-driven world, hard skills reign supreme. Their analyses often require the advanced quantitative skills possessed by many economics majors. Accessed June 25, 2020. However, they can be beneficial to those who are hoping to climb the ranks in financial services or consulting. Copyright © 2008–2020, Glassdoor. Job Outlook: The BLS predicts that financial analyst jobs will grow by 6% through 2028, about as fast as average for all occupations. This information is then used to influence business decisions. They create reports and present their findings to senior management, and might also work with their company's human resources department. Writing and public speaking skills are also necessary when writing reports and presenting recommendations to clients. Salary: According to the BLS, credit analysts earned a median annual salary of $73,650 in May 2019. Financial analysts research companies, industries, stocks, bonds, and other investment vehicles for finance departments. Economic consultants use analytical and research skills to carry out studies regarding economic scenarios. These analysts often use computer software and models to aid their analyses. Credit analysts prepare reports summarizing their findings and suggest interest rates that are appropriate to clients' risk profiles. If you're the analytical type, fascinated by the world around you, then an economics major might be a good choice for you. Average Base Pay: $117,345/yr Management Consultant Here's a List of the Top 10 Jobs for Marketing Majors. They must think critically about products and services and be adept at solving problems. Here are some job options to consider when you're choosing a career path with a degree in economics. 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. A list of the most popular jobs for economics majors. "Business Reporter Salary." "Management Analysts." Plenty of people still in college (and even after, for that matter) are still trying to figure out what their ideal career path is. In fact, Glassdoor found that economics was one of the highest-paying college majors. An economics major is a very worthwhile degree, as it provides several extremely useful skills that are transferable and valuable to the jobs market. Policy analysts rely on strong writing skills to present their research findings and convince legislators and the public of the viability of their recommendations. To choose the right career you will need to consider your other skills, interests, and values. MBAs typically take two years and cost in the tens of thousands of dollars range — however, MBAs often lead to higher salaries down the road. Median salaries have been included on this list. But there are a few things that economics majors should be particularly mindful of. Management Consultants are responsible for providing high-level recommendations on how a business should be run. The bottom 10% earned less than $43,430 and the top 10% earned more than $145,840.. The bottom 10% earned less than $49,700, and the top 10% earned more than $154,310., Job Outlook: The BLS predicts that jobs for management consultants will grow by 14% through 2028, faster than average for all occupations.. PayScale. Salary: According to the BLS, the median annual salary for management analysts in May 2019 was $85,260. Here are a few ideas to get you started. The skills you gain from studying economics are invaluable in an era where companies are increasingly looking for candidates with a quantitative background. In fact, Glassdoor found that economics was one of the highest-paying college majors. The Ultimate Job Interview Preparation Guide, 20 Most Popular Jobs for College Graduates, Chances are, there’s a data scientist behind every big successful company: Data scientists crunch data and numbers to find ingenious solutions to…, Financial analysts use their number-crunching prowess to help businesses and individuals make smart, strategic decisions about their investments. The bottom 10% earned less than $69,870 and the top 10% earned more than $208,000.. "Actuaries." A master’s in economics will usually take between one to two years to complete, and will cost in the tens of thousands of dollars range. Let’s take a look at 18 of the top jobs you can get with an economics degree. With a high job satisfaction rating, median base pay and number of open jobs, Data Scientist has earned the #1 spot on Glassdoor’s. Accessed June 25, 2020. They must be able to quantify results and present this information to clients. Specific tasks may involve conducting a competitive pricing audit, working with secret shoppers, monitoring the price of raw materials and collaborating with product marketing teams on pricing strategy and messaging. Focused on efficiency, improvement and profit maximization, these influential employees identify areas of risk and opportunity throughout a business’s operations in order to drive growth. Some of the most common jobs for economics majors include: Finding a job right out of college can seem challenging, but there are plenty of great options for new graduates who majored in economics. This information is then used to influence business decisions. If you’re majoring in economics, congratulations — you will likely be entering a lucrative field! "Lawyers." Thanks for finding us! Accessed June 25, 2020. These astute pros hone…. If you’re passionate about serving the public good, a career in government may be for you. to you. All wages were taken from PayScale which also takes in account bonuses, profit sharing, and commissions where applicable. "Average Economic Consultant Salary." Regardless of your major, many of the typical job search tips will apply — for example, it’s always a good idea to network with others in your field. Their analyses often require the advanced quantitative skills possessed by many economics majors. To aid you in your search, we’ve put together a guide that will help you identify your marketable skillsets and evaluate career paths. Salary: The Bureau of Labor Statistics (BLS) estimated that a market research analyst’s median annual salary was $63,790 in May 2019.