Making Money With Economics
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A college degree can go a long way to helping you gain a successful career you will love. That being said it can be difficult to know what to major in. What kind of career can you get with your degree? What kind of growth exists in your field? Doing some career research in advance can help you decide what to major in today. We have looked at jobs with a math and sociology degree, now let’s look at a degree in economics.
While it may not initially sound like it, a degree in economics is a versatile tool that can open up numerous doors for you. Economic graduates can go on to work in numerous fields including business, consulting and even government. In fact, one recent report showed economic majors ranked 4th out of 16 academic majors in starting salaries behind computer science, mathematics and engineering. Here are some possible fields.
Business Careers
The most common field for economic majors to work in is the business and corporate world. While an economics degree doesn’t prepare you for a specific role it does help you understand business from a bigger picture which gets your foot in the door. Economics teaches reasoning and problem solving skills which are a valuable asset and can open doors to, management, marketing, finance and consulting. It is also a good foundation for those who want to pursue a MBA. Pay various depending on education but a degree in economics has an average starting salary of $48,000 while the median salary for senior economist is $83,000.
Government Careers
Another huge employer for economic majors is the government on the state, local and federal level. They often hire economic majors to help forecast economic conditions and evaluate their effect on budgets, monitor and evaluate agency operations and budgets and analyze different types of data. The Department of Labor and Commerce and weirdly enough the CIA, are all amongst the largest government economic employers. The added benefit is that you work on the government pay scale, which includes numerous holidays, time off and great benefits. The average government salary in this field is $108,010.
Public Policy Careers
If you love debating public issues and dissecting approaches to problem solving in areas ranging from health to national defense then a policy analyst position may be for you. Policy analysts compare and evaluate a wide range of public policy options to aid decision makers in the government. While you may think this involves working for the government most analyst work for private firms, often called think tanks that are hired out by the government. Many of these positions require a post graduate degree but a bachelor’s may get your foot in the door. Analysts can make anywhere from $40,000 to $65,000 depending on experience and education.
So there you go. Three thrilling fields to work in with an economics degree. Check with online bachelor’s degrees for available courses.
Jeff Jordan writes in lives in Southern California. He writes about education and schools such as Trident University.
