Some students choose to continue studying economics at the university level (e.g. a Masters of Economics), finding a good graduate job isn’t a requirement. It does not dissuade students from more studies if they are pursuing extremely technical positions (such as being a skilled economist), although it is important to realize that economics occupations in finance and other fields are generally open to anyone with a bachelor’s degree only.
As a professional economist, students will be involved in researching and analyzing economic data, issues, and trends. For the majority of economist careers, students need to study economics at the postgraduate level to gain the specialist skills required. To be a professional economist they 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.
Common career paths for economics graduates include:
- Financial risk analyst
- Data analyst
- Financial planner
- Economic researcher
- Financial consultant
- Investment analyst
- Public sector roles
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. A sound awareness of current affairs and economic contexts is essential in these roles.
- Economics careers in banking: Banking careers are very popular with economics graduates, offering scope for high earnings and have a high demand for economists. Graduates with a background in economics are particularly valued for roles in financial control, financial planning, risk analysis, data analysis, and consultancy.
- Economics careers in accountancy: These careers require strong analytical skills, mathematical proficiency, computer literacy, an understanding of all elements of company finances, and the ability to contextualize the data collected. 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.
- Economics careers in business and financial consultancy: Economists and economics experts are at the heart of the business world and financial consulting. Economics graduates will find positions in large and medium-sized organizations where economic research is required. The role of an economic researcher requires in-depth knowledge of economic theories and models, thorough analytical and problem-solving skills, and mathematical ability.
- Economics careers in the public sector: Economics will be valued in all areas of public and private spending, including roles within pricing and risk analysis, financial consultancy, and economic planning. Economist careers in the public sector are often involved in public taxation, transport, commercial and waste services, energy, and other forms of government spending.
- Actuarial and data analysis careers in economics: An actuary is a business professional whose role is to evaluate and advise on the impacts of financial risk and uncertainty. Using knowledge of both business and economics, actuaries provide reports and devise strategies on how to lessen these risks.
- Alternative economics degree jobs and careers: With a background in economics it seems anything is possible. Other common economics careers and roles include auditor, stockbroker, insurer, business manager, retail merchandiser, pricing analyst, statistician, financial consultant, and salesperson.
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