Economics is often considered as the practical and theoretical method of production and distribution of wealth. Economics plays a major role in all industries of work and affairs. Due to its significant importance, a degree pursued in economics can certainly accelerate your chances of employability to a great extent.
Amongst the manifold career options after an economics degree, here are five typical professions you can opt for after an economics degree.
Economics Careers as Financial Consultant:
- Financial knowledge and planning are crucial to be known for an organization or individuals for the smooth administration of business or private spending. And for systematic management of finances, a financial consultant is undeniably necessary.
- Major responsibilities of a financial consultant are producing reports, introducing on business strategies, risk analysis, allocation of assets, budgeting and taxation.
- Individuals opting for financial consultancy should possess in-depth knowledge of industries, corporate finance, economic theories etc. Also, excellent mathematical and analytical skills will make this job much more fascinating!
Economics Careers as Policy Maker:
- Policymakers are responsible for creating ideas, plans for businesses or governments. The policy can be better defined as an action plan than a law which is followed by businesses or government.
- Policymakers play a role of acting as a funnel to gather information through research and consultation and conclude with a policy from that information. Thus, your knowledge in economics would be vital to determine the viability of the policy.
- Creative thinking, excellent analytical, futuristic thinking, decision making, and teamwork are some of the core skills required in this area.
Economics Careers as Data Analyst:
- Data analyst jobs can be found in a versatile range of industries and because of their high demand, they are quite lucrative even in the initial stage. If a company uses data to make the business work, then a data analyst is a must.
- Generally, data analysts survey significant amounts of data and extracts information which helps in making better business decisions and forecasting. Data analysts are literally everywhere and are hired by retailers, insurance companies, healthcare industries, big tech giants etc.
- Individuals heading towards this profession should make sure they enhance their skills like presentation, handling numbers and ability to organize multiple tasks.
Economics Careers as Economist:
- Another demanding profession in the economics field is an economist.
- A considerable percentage of economists are hired in the federal government and development services. The job of an economist consists of researching economic issues, presenting collected data in the form of tables, reports and charts, writing pieces for academic journals and analyzing data using statistical techniques.
- Economists should be capable of keenly observing data, patterns and determine logical conclusions. Also, the ability to deliver data orally and verbally in a simplified and fluent way is crucial.
Economics Careers as Investment Banker:
- A clever financial brain and an understanding of money generation and investment are important aspects for an investment banker.
- As a corporate investment banker, your duty is to offer various financial services to industries, government or institutions. Managing mergers, bonds and shares, acquisitions and privatization come under the roles of the investment banker.
- An investment banker is often asked for advising on scaling up of an organization due to his/ her work profile.
- An investment banker needs to effectively cope with stress, have good communication and interpersonal skills and time and project management skills.
While the list of professions doesn’t end here, accountant, insurance underwriter, contract specialist, securities trader, and many more jobs still continue to stretch the list.
In this way, this brings us to the conclusion that career options after an economics degree are countless and almost all of them are highly demanding and high paying.
The only thing you need to make sure is that the sector you enter is what you are genuinely interested in and curious about. This will help to build a successful career and make the most out of your economics degree.
Feel free to contact MeetUniversity.com to get clarity on various career options and make informed choices!