18 Top Economics Degree Jobs
Updated July 31, 2023
A degree in economics can provide a variety of job opportunities in nearly every industry, from local government and the sciences to finance and insurance. While some of these jobs might require additional certifications or education, others are available to those with a bachelor’s degree. And at every level, they offer excellent pay.
Let’s take a look at 18 of the top jobs that offer a competitive salary for economics majors.
Best economics degree jobs
National average salary: $57,327 per year
Primary duties: Credit analysts are responsible for evaluating client credit scores by accruing specific information. They might also help clients change their credit standing by coming up with improvement plans and providing information about various financial organizations. Their evaluations are used to make certain decisions regarding the client’s creditworthiness like credit card applications, loan applications and more.
National average salary: $65,526 per year
Primary duties: Personal financial advisors work with people to help them achieve certain short and long-term financial goals. They assess individuals’ financial standing and help them make personal decisions on items such as savings, loans, stocks, insurance and other investments. Financial advisors might work directly with their own clients or they might be employed by organizations like banks or investment firms.
National average salary: $66,462 per year
Primary duties: Policy analysts are responsible for studying national economic trends as it pertains to corporations and government bodies. They gather data from a variety of sources to forecast economic trends and outcomes.
National average salary: $67,947 per year
Primary duties: Supply chain analysts evaluate the processes that occur through the operations of a supply chain to expose inefficiencies and determine areas for improvement. They are ultimately responsible for increasing output at the lowest rates.
National average salary: $67,968 per year
Primary duties: Economic consultants often work with legal professionals and produce analyses, data, evidence and other materials in legal cases related to economics or finance. While paralegals often perform most of these duties, consultants might also be employed for larger, more complicated cases.
National average salary: $69,488 per year
Primary duties: Business reporters are journalists that focus on business trends and stories. They research and write about financial trends, economic policies, government actions and companies that might affect the nation’s finances.
7. Loan officer
National average salary: $75,911 per year
Primary duties: Loan officers work with applicants to arrive at an agreement that suits both the individuals and the loan institution. They are responsible for determining the credit standing of the applicants and determining a solution for the customer.
National average salary: $77,641 per year
Primary duties: Portfolio managers are responsible for managing funds or fund groups they are assigned to. They must research the economic climate, economic trends and perform other analytics to make the best decisions in favor of their fund.
National average salary: $82,108 per year
Primary duties: Management consultants work with both public and private organizations to assess areas for operational improvement. They develop plans to improve organizational functions for better, more efficient ways of working.
National average salary: $84,878 per year
Primary duties: Financial analysts closely study stock market and bonds trends as well as other investments. They use their research to help businesses and individuals make beneficial investment decisions.
National average salary: $88,426 per years
Primary duties: Statisticians can work in nearly any industry, using statistical calculations to answer questions for both public and private organizations. Statisticians can work on projects such as risk management, increasing efficiency in business and more.
12. Corporate lawyer
National average salary: $93,655 per year
Primary duties: Corporate lawyers are responsible for supporting and representing businesses in legal matters. Some of their duties include overseeing contracts, negotiations, advising in situations with legal ramifications and more.
13. Product manager
National average salary: $101,501 per year
Primary duties: Product managers define strategies and plans for developing, launching and testing new and existing products for organizations. They often manage teams that are dedicated to the various tasks involved in working on a specific product.
National average salary: $102,311 per year
Primary duties: Economists study financial trends related to stocks, bonds, spending, exchange rates, inflation and more. They conduct specific research to develop forecasts and inform organizations like corporations or government entities.
National average salary: $106,435 per year
Primary duties: Compensation managers develop and administer an organization’s compensation and benefits plans to employees including retirement plans, 401Ks, wellness programs and more. They research and negotiate the best possible plans for employees and might also be responsible for presenting and answering employee questions.
National average salary: $113,430 per year
Primary duties: Actuaries perform statistical and mathematical studies to define the financial outcomes of a certain risk. They might work with either public or private organizations to do risk analyses and financial forecasting.
National average salary: $115,166 per year
Primary duties: Market analysts research and study data about the sale of products and services. They might work for a specific organization to study consumers and competitors, or a market research firm.
National average salary: $141,375 per year
Primary duties: Quantitative analysts use a variety of mathematical and statistical methods to perform risk management and other finance-related studies. They might work with public or private organizations to research sales or purchasing habits to determine profitable opportunities.
Frequently asked questions
How hard is an economics degree?
Economics is a multifaceted degree that requires a significant level of mathematics, data analysis and critical thinking. Students also delve into psychology and sociology while studying economics. While economics can be challenging, it's often enjoyed by students with a keen interest in the economic system. Earning a degree in economics commonly requires individuals to complete 15 core courses and around eight advanced courses.
How long does an economics degree take to complete?
Students generally require four years to complete their bachelor's degree in economics. Individuals with a previous associate degree can finish their economics major in less time. It's also common for students to attain a dual degree, majoring in economics with business or finance, because this can create more job opportunities in the future.
What's the difference between economics and accounting?
While economics and accounting occupations involve advanced math, they have several key differences. Accounting professions primarily concern the analysis, reporting and recording of expenses and income on behalf of a company. In contrast, economics roles are less analytical and more theoretical, looking at societal elements, such as labor and consumption, to forecast trends and help develop strategic economic policies.
Those who pursue an economics degree are more likely to become policy analysts, business reporters and economists. Those with an accounting degree are more suited to becoming chartered accountants, bookkeepers and financial managers.
How many economics-related jobs are there?
Economics-related roles fall within the business and finance sector, which is predicted by the U.S. Bureau of Labor Statistics (BLS) to have around 980,200 job openings each year. By 2031, the BLS projects the overall employment within the business and finance sector to grow by 7%, with roughly 715,100 new occupations surfacing. The following industries fall within the business and finance sector and have the highest occupational demand:
Scientific and technical consulting services
Accounting, tax preparations, bookkeeping and payroll services
Credit intermediate and related services
Are economists in demand?
The BLS expects the employment of economists to increase by 6% as of 2031, with around 1,400 job vacancies each year. The BLS predicts that this is due to existing workforces retiring or transferring to different occupations, creating a need for positions to be replaced.
Do economics-related roles pay well?
Economics-related roles tend to offer high-paying salaries to those with a relevant degree. Economics-related roles fall within the business and finance sectors. In 2021, the BLS reported that occupations within this category pay a national average salary of $76,570 annually. This is $18,310 more than the national average salary of all occupations in the United States, indicating that economics-related roles pay above-average wages.
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