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What Can You Do With an Economics Degree?
An economics degree is one of the most versatile across different industries and employment structures. The face-value answer to the question, “What can you do with an economics degree,” is simple: You can enter almost any business environment and contribute effectively to the success of that company or organization.
What Can You Do With an Economics Degree?
Whether you find a comfortable answer to your question, “What can you do with an economics degree,” within public service, the finance industry, the insurance industry, education or research, entry-level positions are harder to find than those that require advanced offline or online degrees, such as online master’s degrees or an online Ph.D. from one of the top, online universities across the nation.
According to the Bureau of Labor Statistics, figures for 2010 and 2011 indicate that the industries that currently claim the highest employment levels include: the Federal Executive Branch which pays a median salary of $107,870 per year; management, scientific, and technical consulting services which offer a median annual salary of $121,350; state government offering median annual wages of $62,270; scientific research and development services with a median wage of $122,210 per year; local government paying a median annual salary of $73,770. These industry figures include all levels of education and experience but do not include the self-employed economists but only those that work for businesses and organizations.
For best advancement opportunities in any industry, build your education pyramid and gain practical experience with a baccalaureate degree and then go back to school for a post-graduate degree if an extended period of education is not possible.
Specific Job Title Examples
If you are searching for more specific opportunities in answer to the question, “What can you do with an economics degree,” the exact job duties may be slightly different according to the employer, but many positions have job titles that include: Financial Analyst, Economist, Economics Analyst, Financial Advisor, Actuary Services Advisor or Analyst within the insurance industry.
Economists work in banks, financial firms, stock brokerages, “think tanks,” government positions at all levels and are self-employed consultants and trouble-shooters.
Often entailing a great deal of statistical analysis and writing reports, an economist can work either in a solo or team environment anywhere in the country.
Although the Bureau of Labor Statistics estimated in 2009 that job growth for economists were projected at only 8 per cent for 2010 and 2011 through 2018, which was far below the national average, those with higher education degrees have enjoyed both greater retention and expanded opportunities that have contributed to a growth rate that is currently slightly beyond government estimates for this field of employment.
So what can you do with an economics degree? Depending on the level of degree you earn, you might find a terrific position with solid opportunities and advancement in a consulting firm, a brokerage house, a bank, an insurance company, your local government, your state or federal government, or even in education, or as an independent consultant. The employment opportunities might be so varied that a better question might be, “What do you want to do with your economics degree?”
