No matter what industry you are in, an economics degree can increase your job opportunities in many fields. The global job market is in great demand for highly skilled graduates, and the extensive analytical and problem-solving skills acquired by economics students make the economics career very diverse.
Below is a list of popular jobs that will help you to decide what can you do with an economics degree.
Business consultants use research and analysis skills to conduct business scenario research. They analyze industry trends to help companies improve performance. They can work for organizations in various industries, including business, finance, healthcare, education, government, etc. Business consultants can also act as legal witnesses to assess economic losses, analyze antitrust and intellectual property infringements, and eliminate rule violations.
Pay scale estimates that the average annual salary of business consultants is US$76,487, with the top 10 being up to US$59,000 and the top 10 being at least US$119,000.
Compensation and benefits managers
Like economists, compensation and benefits managers need to consider numbers when evaluating compensation and benefits options, examining labor market trends, and evaluating different types of supply and demand jobs.
Compensation and benefits managers study the compensation and benefits of similar organizations in their industries to create a competitive compensation and benefits structure for their companies.
They prepare the report and submit the results to the management. They can also cooperate with your company’s human resources department. Like economists, when analyzing the risk profile, they must consider various variables to create a profitable structure for the insurance policy.
BLS estimates that the average annual salary of compensation and performance managers is US$122,270, the bottom 10 earned less than US$69,870, and the top 10 earned more than US$208,000.
Actuaries often use analytical software. They create diagrams to communicate their decisions to members of the management team.
According to BLS data, the average annual income of actuaries this year was US$108,350. The bottom 10 earned less than US$64,860, and the top 10 earned more than US$193,600.
Credit analysts conduct microeconomic analysis of the outlook to assess the risks associated with lending to these individuals or legal entities. They take into account the economic trends, factors that affect the region, and potential customers of the industry and competitors.
Credit analysts generate reports summarizing their findings and recommend interest rates that match the risk profile of the client.
According to BLS data, the average annual salary of a credit analyst this year was $73,650. The bottom 10 earned less than US$43,430, and the top 10 income is more than US$145,840.5.
Financial analysts analyze companies, industries, stocks, bonds, and other investment tools for the financial department. Their analysis usually requires advanced quantitative skills they possess, applicable to many fields of economics.
These analysts often use computer software and models to assist their analysis. You will write reports and prepare presentations for colleagues and clients, who will make final decisions on investments, equity/bond placements, and mergers/acquisitions.
According to statistics from the US Bureau of Labor Statistics, the average annual salary of financial analysts this year is US$81,590, of which the bottom 10 earned less than US$47,230, and the top 10 income was more than US$156,150.6.
Policy analyst research and analysis impact the public and suggest that the law and government intervention to solve the problem. Business knowledge is essential for understanding many problems and finding affordable solutions.
Students majoring in economics usually have analytical skills on topics such as health, taxation, energy, environment, and international trade policy.
Policy analysts rely on strong writing skills to present their research results and convince legislators and the public that their suggestions are worthy.
According to pay scale data, the average annual salary of policy analysts is US$59,565. Among that, the bottom 10 earned less than US$43,000, while the top 10 earned US$84,000 or more.
Now, this article has helped you discover many popular economics degree jobs and decide if an economics degree is worth it. You can now easily decide what path is best for you.