A degree in economics will boost your employability in many areas, regardless of the industry you work in. High-skilled graduates are in high demand on the global job market, and there are many different economics occupations to pick from because economics majors develop highly transferable analytical and problem-solving skills.
With a degree in economics, you may research business trends, labor markets, individual company prospects, and economic dynamics.
Economics majors are taught how to collect, arrange, and evaluate data while doing computations using mathematical formulas and statistics. They develop models to forecast the effects of investments, policies, market trends, demographics, climate change, and many other things.
Here are the most paying jobs for economics graduates.
1. Economic Consultant
An economic consultant is a professional who provides advice and guidance on economic matters. They may work with businesses, governments, or individuals and help them make decisions about financial and economic issues.
An economic consultant may provide advice on a wide range of topics, such as business expansion, tax policy, market research, and cost-benefit analysis. They use their economic knowledge to help their clients make informed decisions.
Economic consultants typically have a background in economics, business, or finance. They use their skills and knowledge to help their clients make sound economic decisions.
Average Salary: The median salary of an economic consultant is $69,000 in the US.
2. Actuary
An actuary is a professional who assesses risk and manages uncertainty in the financial world. Actuaries use their skills in mathematics, statistics, and finance to help companies make sound financial decisions.
Some actuaries work in the insurance industry, helping insurance companies to determine how much to charge for premiums and to design insurance policies that minimize the company’s financial risk. Other actuaries work in the finance industry, where they may help financial institutions to assess the riskiness of loans and to design investment products that are suitable for their target markets.
The work of an actuary is essential to the functioning of the financial world. Without actuaries, companies would be unable to make informed decisions about how to manage their risks.
Average Salary: The average salary of an actuary professional is $111,000 per annum.
3. Credit Analyst
A credit analyst is a professional who is responsible for assessing the creditworthiness of individuals and organizations. A credit analyst may work for a bank, credit bureau, or other financial institution.
The duties of a credit analyst include evaluating financial statements, reviewing credit reports, and assessing the creditworthiness of borrowers. A credit analyst also may provide recommendations to lenders regarding loan approval and terms.
Some employers may require a credit analyst to have a professional designation such as the CFA (Chartered Financial Analyst) or CPA (Certified Public Accountant).
Average Salary: The average salary of a credit analyst in the US is $55,500 annually
4. Policy Analyst
A policy analyst is someone who is responsible for researching, evaluating and developing policies for a government or an organization. A policy analyst may also be involved in implementing and monitoring the effects of these policies.
The role of a policy analyst can vary depending on the size and type of organization, but typically includes researching and analyzing data, developing policy recommendations, presenting findings to decision makers and stakeholders, and monitoring the implementation of policies.
Policy analysts often work in teams, and their work may be interdisciplinary in nature. They may collaborate with economists, sociologists, political scientists, and other experts to develop comprehensive solutions to policy problems.
Average Salary: The average salary for a policy analyst is $76,000 per year in the United States
5. Portfolio Manager
A portfolio manager is a professional who helps investors select and manage investments. A portfolio manager has many responsibilities, including researching investment opportunities, making recommendations, and monitoring the performance of the portfolio.
Investors often seek the help of a portfolio manager to make sure their money is being well-spent. A portfolio manager can offer a great deal of insight and expertise that an investor may not have.
Portfolio managers typically work for investment firms or banks. They may also work as independent consultants. Before becoming a portfolio manager, many professionals have years of experience working in the financial industry.
Average Salary: The average Portfolio Manager salary in the United States is $101,000.
