In an economics degree, you learn multiple subjects including the economy, business, statistics, and mathematics. The combination of these subjects allows you to become eligible for jobs in more than one field, hence improving your overall employability. As you study economics, you can apply for the position of economic expert, financial advisor, planner, and manager. You can also assume managerial positions in businesses that require knowledge of accounting, finance, and statistics. You also study basic business laws and laws on which economies are based, so, you can also become state or federal government employees such as auditors, actuaries, economic policy officers, and more. All of these positions are very high-paying and provide multiple other benefits. Career growth is one of the biggest benefits that you get from this degree, it allows you to evolve and improve during your career, hence helping you reach the top position in any organization. Here is a list of the top 12 career choices that you have after an economic degree. This list will help you select your career wisely.

Top 15 Career Choices After an Economics Degree:

These are the top fifteen career choices that you can make after your Economics degree.

• Economist
• Auditor
• Accountant
• Data Analyst
• Financial Planner
• Financial Manager
• Financial Advisor
• Financial Risk Analyst
• Budget Analyst
• Market Research Analyst
• Financial Consultant
• Investment Analyst
• Actuarial Analyst
• Teacher/Lecturer/Professor
• Economics Writer

Here are the details about each of these career choices in biological sciences.

1. Economist:

The modern-day economy is very complex, and we need experts who understand it. These experts are called economists. Their job is to understand the complex nature of the economy and make it understandable, and predictable for businesses, and governments, so that they can make future investments according to that. Economists study the financial patterns through statistical analysis and other techniques, this helps them determine the growing industries, and businesses and know about the ones that are becoming obsolete.

This reduces the risk of loss of investment, and businesses, investors, and governments hire economists for this purpose. After completing your degree, you can choose this career, but to reach the top level, you will need further education and training. According to the data from BLS, the median salary of Economists is about $108,350, while the top earners can make more than $200,000 per year. The total number of jobs in this profession is about 18,600, and the job outlook data shows 13% of growth.

2. Auditor:

Auditors also work for both government and private entities. They are financial experts and also know about the laws related to financial transactions. Auditors are responsible for auditing, or analyzing the financial statements of the companies, and making sure that their transactions are transparent. They also help companies in preparing their financial statements and make sure that their accounts are following the laws. Apart from this, they also work for businesses and governments and help them understand the risks related to a business or investment.

This job requires knowledge of accounting, financial analysis, business practices, mathematical and statistical analysis. You get all of these skills during your course of study in economics. This is also one of the high-paying jobs and you can get it soon after completing your degree. BLS data shows that the median salary of an auditor is about $73,560, while the top earners can make more than $128,680. The total number of jobs in this profession is about 1,392,200, and the job outlook data shows 7% of growth for the next ten years. 

3. Accountant:

You can also become an accountant after completing your degree in economics as a major. This job is also similar to the job of an auditor. You are responsible for recording, analyzing, and making sure that the financial transaction and financial reports of the company are by the financial laws. Accountants are also responsible for creating financial reports of the company, filing tax returns, and auditing the documents. There are opportunities in both the government and private sectors.

This job requires having some experience after completing your degree. There are a lot of career growth chances. According to the data from BLS, the median salary of Accountants is about $73,560, while the top earners can make more than$128,680. The total number of job positions for accountants is about 1,392,200, and the job outlook data shows 7% growth from 2020 to 2030. 

4. Data Analyst:

After completing your degree in economics, you can also become a data analyst. This job requires knowledge of statistics and mathematics. And you learn both of these subjects during your course of study in economics. This job is not only high-paying but also has multiple benefits as in the future, data analysis is what will drive the economies of the world. The job of a data analyst is to consider data, perform the required mathematical and statistical analysis, and create reports and predictions according to that data.

There are job positions in both government and private businesses. This job requires an advanced set of skills, so having an advanced degree in economics would improve the chances of your employability. According to the data from BLS, the median salary of data analysts is about $86,200, while the top earners can make more than $120,000 and the total number of jobs in this profession is about 104,100. The job outlook data shows 25% of growth which is one of the fastest growth rates in the current job market.

5. Financial Planner:

You can also become a financial planner after your degree. The job of a financial planner is to provide insight into future investments, analyze risks, and help investors and businesses to invest in risk-free and highly profitable assets. This job requires knowledge of financial markets, risk analysis, and the ability to predict the right results based on market data. These are the skills that you can learn during your course of study. At first, you will not be hired as a financial planner, you may have to work under other financial planners or supervisors.

Once you have gained sufficient experience and knowledge, you can be promoted to this position. This is a high-paying job because many financial planners make a six-figure salary.  According to the data from BLS, the median salary of Financial Planners is about $89,330, while the top earners can make more than $150,000. The total number of jobs in this profession is about 275,200. The job outlook data shows 5% of growth which is slow as compared to most other professions.

6. Financial Manager:

The job of a financial manager is also similar to that of a financial planner. Except that you will not be working as a personal planner, instead, you will be working for a company or a business. This job requires the knowledge of mathematics, statistics, financial laws, and risk involved in business or investments. With the help of this knowledge, you will plan the investments of your company. Financial managers are responsible for creating new investment opportunities, analyzing risks in the investments, and other tasks related to financial investments.

First, you will start as a junior or advisor, and will later be promoted to this position. It may also require some experience and advanced education. Having a Master’s or doctorate can further increase the chances of your employment. From this position, you can further progress to other job positions such as CFOs. According to the data from BLS, the median salary of Financial Managers is about $134,180, while the top earners can make more than $200000. The total number of jobs in this profession is about 681,700, and the job outlook data shows a 17% growth rate, which is among the fastest.

7. Financial Advisor:

After your degree in economics, you can also become a financial advisor. Financial advisors sometimes work for companies, governments, and they sometimes also work for individual clients. Their job is to communicate with their clients and tell them about future investment risks, and opportunities. Financial advisors help their clients make risk-free investments and make profits. Financial advisors are also aware of the financial laws and advise their clients in relevance to their business and laws.

This job also requires higher qualifications and some experience. You can work for individual clients, banks, investment firms and companies, and government agencies. It is one of the high-paying and very rewarding career choices that you can make. According to the data from BLS, the median salary of a Financial Advisor is about $89,330 per year. The total number of jobs in this profession is about 275,200. The job outlook data for this profession shows 5% of growth.

8. Financial Risk Analyst:

Financial investments always carry risks, and investors want to know about these risks before time so that they can make safe and profitable investments while avoiding risky investments. The job of a financial risk analyst is to find out about these risks, and communicate with the businesses and investors. They are not only hired by the investors, but also by the business that wants to know about the risk in their business practices. Their job is to take the available data and perform statistical, and mathematical analysis according to the financial laws.

This helps create accurate predictions about the business practices or investments that carry risks. Top financial risk analysts work for the government and business corporations and more. There are a lot of job opportunities in this profession. According to the data from BLS, the median salary of Financial Risk Analysts is about $83,660, while the top earners can make more than $100,000. The total number of jobs in this profession is about 492,100, and the job outlook data shows 6% of growth for the next ten years.

9. Budget Analyst:

After completing your education in economics, you can also become a budget analyst. This is a job that you can do in both the government sector and the private sector. The government needs budget analysts to create and analyze the budget according to their requirements. Companies also need budget analysts to help them cut extra costs. They take the budget data, analyze it and create reports according to that data. These budget reports are published so that the stakeholders can know what and where their budget is being used.

This job also requires an advanced degree and some experience. According to the data from BLS, the median salary of Budget Analysts is about $78,970, while the top earners can make more than $100,000. The total number of jobs in this profession is about 52,500, and the job outlook data shows 5% of growth which is slow as compared to other professions in the field of economics. 

10. Market Research Analyst:

After the degree in economics, you can also become a market research analyst. The job of a market research analyst requires research and analysis skills. You can acquire these skills from your course of study. Market research analyst is a very important job position. That is why most companies hire very highly skilled professionals who have Master’s or doctorate degrees and some experience. But you can get the job of junior analyst, you can later get a promotion to the level of senior research analyst.

According to the data from BLS, the median salary of Market Research Analysts is about $65,810, while the top earners can make six-figure salaries. The total number of jobs in this profession is about 740,900, and the job outlook data shows 22% of growth from 2020 to 2030. This is one of the fastest growth rates among the professions related to economics.

11. Statisticians:

You can also get the job of a statistician after completing your degree. This job requires skills in statistics. You will be responsible for creating and applying statistical methods, and models on real-world issues to help find a solution. Statisticians are hired by businesses and also government agencies for various roles. This is one of the highest-paying jobs that you can get after your degree in economics. Most statisticians have a six-figure salary per year.

Some experience and higher education are required by most companies, but you can join as a junior soon after your bachelor’s. According to the data from BLS, the median salary of Statisticians is about         $93,290, while the top earners can make more than $150,000. The total number of jobs in this profession is about 44,800, and the job outlook data shows 33% of growth which is among the fastest growth rates in the current job market.

12. Investment Analyst:

After your degree in economics, you can also become an investment analyst and advisor. The job of an investment analyst is similar to that of a financial advisor, and planner. But in this job, you are only focused on the investment part rather than overall financial management. You will communicate with your clients and know about their preferences. After that, you will analyze those preferences and find out about any risk. You will advise your clients about risk and tell them if they should invest or not. Investment analysts work in banks and other financial institutes that provide consultancy services.

With some experience and financial funding, you can also open your investment firm or investment analysis company where you offer your expertise to the businesses. This is a high-paying career choice that offers a six-figure salary and multiple career growth options. According to the data from BLS, the median salary of Investment Analysts is about $83,660, while the top earners can make a six-figure income. The total number of jobs in this profession is about 492,100, and the job outlook data shows 6% of growth.

13. Actuarial Analyst:

Actuarial analyst or actuary is also a job that you can get after completing your degree in economics. This job requires knowledge of financial risks, analysis techniques, and financial laws. The actuaries work with government departments and also in private firms where they work under financial managers and help them in the prediction of financial risks. They analyze the data of a company based on multiple events, theories, and models. This helps create actual results.

This is a job that offers a six-figure salary in most cases. You can get this job after completing your degree and getting some experience in the field. According to the data from BLS, the median salary of Actuaries is about $111,030, while the top earners can make more than $200,000. The total number of jobs in this profession is about 27,700. The job outlook data shows 22% of growth which is among the fastest for the next ten years.

14. Teacher/Lecturer/Professor:

If you are interested in the teaching profession, you can also pursue that as a career as well. You can become a high school teacher, a college lecturer, or a university professor. Each job requires a different set of skills and amount of knowledge. For example, you can teach in secondary school after a bachelor’s but for high school and college, you will need a Master’s degree. But if you want to become a teacher in university, that would require some experience, research, and a doctorate.

The salary for a teaching job is also different, it depends on where you work and at what level you are working. For example, high-school teachers are paid less as compared to college teachers, and university teachers have the highest salaries. According to the data from BLS, the median salary of postsecondary teachers is about   $80,560, while the top earners can make more than $100,000. The total number of jobs in this profession is about 1,276,900 and the job outlook data shows 12% of growth.

15. Technical Writer:

You can also become a writer after completing your education in economics. You can write books about the current economies and the future of the economy. You can also write research papers. Apart from that, you can also write for financial websites, newspapers, and companies. You can also help companies write their financial statements and reports.

As a technical writer, you can work on a freelance basis, and also with organizations such as news websites, newspapers, etc. According to the data from BLS, the median salary of a technical writer is about $74,650, while the top earners can make more than $100,000. The total number of jobs in this profession is about 52,300, and the job outlook data shows a 12% growth rate from 2020 to 2030.

Benefits and Salaries for Economics Related Jobs:

No.	Job Title	No. of Job	Minimum Education	Job Outlook	Salary
1	Economist	18,600	Bachelors/Masters/Doctorate	13%	$108,350
2	Auditor	1,392,200	Bachelors/Masters/Doctorate	7%	$73,560
3	Accountant	1,392,200	Bachelors/Masters/Doctorate	7%	$73,560
4	Data Analyst	104,100	Bachelors/Masters/Doctorate	25%	$86,200
5	Financial Planner	275,200	Bachelors/Masters/Doctorate	5%	$89,330
6	Financial Manager	681,700	Bachelors/Masters/Doctorate	17%	$134,180
7	Financial Advisor	275,200	Bachelors/Masters/Doctorate	5%	$89,330
8	Financial Risk Analyst	492,100	Bachelors/Masters/Doctorate	6%	$83,660
9	Budget Analyst	52,500	Bachelors/Masters/Doctorate	5%	$78,970
10	Market Research Analyst	740,900	Bachelors/Masters/Doctorate	22%	$65,810
11	Statistician	44,800	Bachelors/Masters/Doctorate	33%	$93,290
12	Investment Analyst	492,100	Bachelors/Masters/Doctorate	6%	$83,660
13	Actuarial Analyst	27,700	Bachelors/Masters/Doctorate	22%	$111,030
14	Teacher/Lecturer/Professor	1,276,900	Bachelors/Masters/Doctorate	12%	$80,560
15	Economics Writer	52,300	Bachelors/Masters/Doctorate	12%	$74,650

Note:(Bachelors for the job and Masters for further promotion) data source bls.gov

Types of Economics Degrees:

Here are the three most common Economics degrees that you can get.

1. Bachelors:

There are two types of Bachelor’s degrees that you can get in economics. The first one is BS economics, which is a science degree in which you study the concepts of economics as a science and it would involve a lot of mathematics, and statistics. The second is the BA economics degree, which is a degree in economics but from the perspective of arts. The basic difference is that BA economics does not require studying mathematics and statistics very deeply. Both of these degrees span over four years of college or university-level education. They require the completion of 120 credit hours of classwork. These degrees can cost up to $200,000. You can easily get a job after completing your degree but most of these jobs offer low salaries and require some experience. To get the jobs that offer good salaries, you need further education.

2. Masters:

The next degree that you can do after your bachelor’s in economics is the Master’s degree. You can also do this from both science and arts perspectives. This degree takes two or two and a half years to complete. It requires the completion of 30 to 40 credit hours of classwork. This degree offers more knowledge and advanced skills that you will need in any profession related to your major. This degree can cost between $60,000 to $100,000. It increases your chances of employment and helps you get higher salaries and better working conditions.

3. Doctorate:

Some jobs require the most recent knowledge and skills in the field of economics. To get these jobs, you will need a doctorate. You can do a Ph.D. in economics. It takes four to six years to complete. It requires the completion of 120 to 140 credit hours. Apart from that it also requires extensive research. This degree provides you the most recent knowledge and offers you the skills that can help you get a six-figure salary. Not only that it also offers multiple chances of growth in the research field. It also increases your chances of employability in both government and private sectors.

Skills You Will Learn from Economics Degree:

• Logical thinking
• Communication
• Problem-solving
• Predicting the results based on statistics
• Report writing
• Breaking the complex problems into small ones, so that they are easy to solve and predict
• Knowledge and skills related to economy
• Ability to work in groups, and teams.
• Knowledge of finance, statistics, mathematics

Conclusion:

Economics is one of the most dynamic degrees as you study a variety of topics in it. For example, you study topics like finance, finance-related laws, accounting, statistics, mathematics, writing, and communication. All of these topics combined with the study of micro and macroeconomics help you become a dynamic person. A person who knows all of these topics can join any profession. That is why this degree helps you get a job in multiple professions.

Apart from being dynamic, this is also one of those degrees that pay very well. Your education is like an investment into your future. So, if your education helps you get high-paying jobs, that means this investment paid off very well. The final decision about selecting this as a major or not is your choice. But if you look at the job data and facts about this degree, you should know that this is one of the best options that you have.

FAQs:

Question: How to become an Economist in the USA?

Answer: To become an economist in the USA or anywhere in the world, you will need to have at least a bachelor’s degree in economics. Having an advanced degree such as a Master’s or doctorate will be even better as it will increase the chances of your employment as an economist.

Question: What are the types of Economics degrees?

Answer: There are two types of Economics degrees based on the subjects. You can do an Economics degree in science and arts. BA economics, MA economics are the two degrees in the arts, and BS economics and MS economics are the two degrees in science.

Question: Is economics a good degree?

Answer: Yes, economics is one of the best degrees. This is one of the best degrees because it offers a lot of employment opportunities, and provides high-paying jobs and careers. You can enter multiple fields after completing your degree in economics. It also offers multiple six-figure career choices as well.