Top 15 Economics Degree Jobs

Benefits

• Commission-Based Earnings: Many loan officers earn a base salary, but the real financial opportunity often lies in commission-based earnings, which can significantly increase their income, depending on their performance and the number of loans they process.

• Robust Retirement Plans: Many financial institutions offer strong 401(k) or similar retirement plans, sometimes with matching contributions.

• Life and Disability Insurance: In addition to health benefits, many companies provide life and disability insurance, providing loan officers and their families with additional security.

• Employee Assistance Programs: These are work-based intervention programs designed to identify and assist employees in resolving personal problems that might be adversely affecting their performance. Such problems might include stress, financial concerns, or family issues.

Working Conditions

As a Loan Officer, you’ll usually operate within a bank or financial institution, though visiting clients’ homes or businesses could also be a part of your job. While regular business hours are standard, achieving lending targets or dealing with complex cases might require additional hours. Your workday will revolve around meeting with clients, assessing loan applications, and making lending decisions.

Further Studies

• Master’s Degree in Finance: To deepen your understanding of financial concepts and markets, a Master’s Degree in Finance can be a significant asset. You will delve deeper into topics such as investment analysis, corporate finance, financial modeling, and risk management, equipping you with skills to make informed lending decisions. Furthermore, advanced credentials could potentially position you for leadership roles in the banking sector.

• This program generally requires undergraduate coursework in statistics, calculus, and financial accounting. Some institutions might also require the GMAT or GRE for admission.

• NMLS Licensing Courses: Loan officers in the U.S. are required to be licensed through the Nationwide Multistate Licensing System & Registry (NMLS). Some states require pre-licensure education courses, and all states require a national exam. Maintaining this license may also require ongoing education courses, keeping you updated on the latest federal regulations, lending standards, and loan products.

Benefits

• High Earning Potential: Management consulting often comes with a lucrative salary, bonus structure, and sometimes even profit-sharing plans.

• Work-Life Balance Initiatives: While management consulting can be demanding, many firms are now emphasizing work-life balance, offering benefits such as flexible working hours, remote work options, or sabbaticals.

• Reputation and Prestige: Many of the top management consulting firms are recognized globally, which can add a significant boost to a professional’s reputation and resume.

• Career Advancement: Broad exposure to different business problems and industries can fast-track your career progression, both within and outside the consultancy field.

• Develop Business Acumen: Working on various projects helps develop a solid understanding of business operations, strategies, and management practices, enhancing your overall business acumen.

Working Conditions

Management consultants work in high-pressure environments, leveraging their deep understanding of market trends and economic principles to devise strategic solutions for diverse clients. Travel and long hours are common, especially during project deadlines. Yet, their work is intellectually stimulating and offers a chance to impact businesses across sectors, making it both challenging and rewarding.

Further Studies

• Master’s in Business Administration (MBA): Possibly the most highly recommended qualification for prospective management consultants is the Master’s in Business Administration (MBA). This degree provides a comprehensive understanding of business operations, strategic planning, and financial management. It also incorporates elements of economics, making it a valuable choice for those with a bachelor’s in economics. To prepare for an MBA program, it might be necessary to take prerequisite courses in areas like accounting, finance, and statistics if you did not cover these areas sufficiently in your undergraduate economics degree. Many MBA programs also require the GMAT or GRE exams, so preparatory courses for these tests could be beneficial.

Benefits

• Remote Work Options: Many economists can perform their research and data analysis tasks remotely, providing the potential for work-from-home or other flexible work arrangements.

• High Earning Potential: Economists, especially those in private sector roles, often command competitive salaries due to the specialized skills and knowledge they bring to an organization.

• Relocation Assistance: If the job requires a move, many organizations offer relocation assistance, making the transition smoother and more affordable.

• Healthcare Benefits: Economists typically enjoy comprehensive health benefits, including medical, dental, and vision insurance, as well as wellness programs.

Working Conditions

As an Economist, you will operate primarily in a tranquil office environment or potentially work remotely, spending substantial time analyzing complex datasets and market trends. The pace and hours can be quite typical, but expect to put in additional effort during significant economic events. 

The work involves a great deal of research, writing, and presentation, requiring a balance of solitary focus and team collaboration. International travel might be part of the job if involved in global economics.

Further Studies

• Master’s in Economics: A natural progression for economics majors, this advanced degree delves deeper into economic theory, quantitative methods, and specialized fields like health economics, labor economics, or environmental economics. With a Master’s in Economics, you’ll be more prepared for analytical roles in both the public and private sectors.

• Certified Business Economist (CBE): The National Association for Business Economics (NABE) offers this certification. It enhances credibility and demonstrates mastery of advanced economics and analytics as applied to business and policy issues. The certification process involves coursework and an exam.

Benefits

• Professional Development Opportunities: The industry offers numerous opportunities for professional development and specialization, such as certifications in financial modeling or private equity.

• Expensive Accounts: Investment bankers often have the ability to expense high-end dinners, travel, and entertainment for client relationship-building.

• Educational Reimbursement: Some investment banks offer educational reimbursement for further studies or certifications, contributing to personal growth and career advancement.

• Career Opportunities Post-Banking: Many ex-bankers find opportunities in private equity, hedge funds, or corporate roles due to their skills and networks developed in investment banking.

Working Conditions

An Investment Banker works in a high-energy, high-stress, and often high-reward environment. Working hours can be long and irregular, typically extending far beyond the standard 9-5 schedule, especially during deal closures. 

The atmosphere is fast-paced, driven by the ebbs and flows of global financial markets. Travel may be a frequent part of the job, meeting clients and investors. Despite the demanding nature of the work, it often comes with significant financial compensation.

Further Studies

• Master’s in Finance (MFin): The MFin is a specialized degree that focuses on developing expertise in finance theory and practices, including risk management, investment strategy, and financial analysis. It can provide a solid foundation for those seeking roles in investment banking, asset management, and financial consulting.

• • Pre-requisites: Depending on the program, you may need to complete courses in finance, calculus, and statistics.

• Certifications in Finance: The CFA charter is a globally recognized professional certification in investment management. It covers a broad range of topics and is invaluable for investment bankers. The FMVA certification, offered by the Corporate Finance Institute (CFI), provides practical skills for financial modeling, company valuation, M&A, LBO, and capital raising. These skills are directly relevant to the work of an investment banker.

Benefits

• Stable Job Market: The actuarial profession is known for its stability due to the ongoing demand for risk assessment in various industries, especially insurance and finance.

• Attractive Compensation: Actuaries often receive competitive salaries, which increase as they pass more professional exams and gain more experience.

• Work-Life Balance: Many actuarial roles offer a good work-life balance compared to other jobs in the finance industry.

• Exam Support: Many employers offer support for the rigorous actuarial examination process, including study materials, paid study time, and exam fee reimbursement.

Working Conditions

Actuaries, typically working in insurance, finance, or consulting firms, enjoy structured work hours, predominantly in office settings. Their work, rooted in assessing risk and uncertainty, often involves collaborating with other professionals. Despite the analytical nature of their work, periods of intensive effort may arise, especially during critical project phases.

Further Studies

• Master’s in Actuarial Science: This specialized degree deepens your understanding of the mathematics, statistics, and financial theory used in risk assessment. It prepares you for advanced actuarial roles, where you might be called upon to design insurance policies, pension plans, or investments. Depending on the program, you may need to complete courses in calculus, probability theory, and financial mathematics.

• Actuarial Exams: Actuaries need to pass a series of actuarial exams to obtain professional credentials. The exams are conducted by actuarial organizations such as the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS).The number of exams and their specific topics depend on the actuarial track you choose (life, health, pension, or property/casualty). Typically, candidates begin taking exams while still in school or shortly after graduation.

Benefits

• Comprehensive Insurance Coverage: Health, life, and disability insurance are often part of the comprehensive benefits package offered to Financial Managers.

• Equity or Stock Options: In some companies, especially startups, Financial Managers may receive stock options or other forms of equity compensation, which can be financially rewarding.

• Competitive Salaries: Enjoy attractive compensation packages, reflecting the value of your financial expertise.

• Career Progression: With experience, you can advance to executive roles such as Chief Financial Officer or Finance Director.

Working Conditions

As a Financial Manager, your primary workspace will be a corporate office setting. You’ll steer the financial direction of your organization, which may lead to extended hours beyond a standard workday, particularly during critical reporting periods or strategic planning phases. Your role will balance strategic thought, operational oversight, and team management, providing a dynamic and rewarding work environment.

Further Studies

• Master of Business Administration (MBA): An MBA, with a specialization in finance, is highly recommended for aspiring financial managers. It provides a broader understanding of business management while offering in-depth knowledge about financial planning, market behavior, risk management, and investment strategies.

• • Pre-requisites: MBA programs prefer work experience, relevant courses, and GMAT/GRE.

• Certified Management Accountant (CMA): The CMA is a professional certification that demonstrates expertise in financial planning, analysis, control, decision support, and professional ethics. It’s highly regarded among financial managers in the corporate world.

Benefits

• High Earning Potential: Stockbrokers often have the potential to earn significant income, especially through commissions on the transactions they facilitate.

• Corporate Discounts: As part of larger financial institutions, stockbrokers might have access to various corporate discounts, such as lower interest rates on mortgages or car loans.

• Financial Planning Services: Some firms offer their employees financial planning or wealth management services as a part of their benefits package.

Working Conditions

As a Stockbroker, you’ll be living in the fast-paced world of stock exchanges, which could mean working from a bustling trading floor or a quiet home office. Your hours might extend beyond the standard workday due to global market operations. Each day will bring new challenges as you monitor markets, execute trades, and advise clients, offering a high-energy work environment.

Further Studies

• Master of Business Administration (MBA): An MBA, particularly with a focus on finance, equips you with a comprehensive understanding of business operations, leadership skills, and advanced financial theory. This can be beneficial for stockbrokers, especially those looking to assume managerial or executive roles down the line.

• • Pre-requisites: Most MBA programs require applicants to have some work experience. Additionally, GMAT or GRE scores are typically required for admission.

• Licensing Exams: To work as a Stockbroker in the United States, you must pass the required licensing exams. The most common exams are Series 7 (General Securities Representative Examination) and Series 63 (Uniform Securities Agent State Law Examination). These exams are administered by the Financial Industry Regulatory Authority (FINRA).

Benefits

• Career Advancement Opportunities: Successful project management can lead to opportunities for advancement into higher managerial or executive roles.

• Professional Development: Many organizations support project managers in obtaining professional certifications like PMP (Project Management Professional) or Agile certifications, contributing to career growth.

• Employee Assistance Programs: Some companies offer employee assistance programs that provide resources for personal issues, like stress management, which can support a healthier work-life balance.

• Job Stability: Project management skills are in high demand across many industries, leading to a high degree of job stability for competent project managers.

Working Conditions

As a Project Manager, your time will be divided among office spaces, remote work, and potentially job sites. Your workday can extend beyond typical hours, especially when managing complex projects or dealing with tight deadlines. Your role will require you to coordinate with diverse teams, oversee project tasks, and ensure goals are met on time and within budget, making each day unique and dynamic.

Further Studies

• Master’s in Project Management: A Master’s degree in Project Management equips students with the knowledge and skills required to manage complex projects effectively. The curriculum often covers areas like project planning, execution, risk management, contract negotiation, cost control, and project quality management. Most programs require a bachelor’s degree for admission. Some may also require GRE or GMAT scores.

• Project Management Software: Familiarize yourself with project management software such as Microsoft Project, Asana, or Trello, which are commonly used for project planning and tracking.

Benefits

• Wide Range of Applications: The application of statistics is vast, providing an opportunity to work on diverse and exciting projects, from predicting economic trends to modeling pandemic spread.

• High Demand: Enjoy a strong job market, as data-driven decision-making becomes essential in various industry.

• Personal Growth: Develop critical thinking and problem-solving skills, enhancing your decision-making in everyday life.

• Paid Leave: Many employers offer generous vacation, sick, and personal leave policies.

Working Conditions

A Statistician typically operates in a calm, focused office environment, often within a specific sector like healthcare, government, or research institutions. Regular hours are typical, though deadlines may occasionally require extra effort. The work primarily involves analyzing and interpreting data to solve complex problems.

Further Studies

• Master’s Degree in Statistics or a Related Field: Most Statistician positions, especially in research and advanced analytics, require a master’s degree in Statistics or a related field. A master’s degree will provide in-depth knowledge of statistical theory, experimental design, and advanced data analysis techniques. Master’s in Statistics programs require a bachelor’s degree in Economics or equivalent, plus calculus, linear algebra, probability, and statistics.

• Regression Analysis: Familiarize yourself with regression analysis techniques, which are widely used in statistical modeling.

Benefits

• In-demand Expertise: As financial markets expand, your skills will be highly sought after, providing excellent job opportunities.

• Professional Development: Many companies support financial analysts in obtaining further qualifications, like the Chartered Financial Analyst (CFA) designation, contributing to career growth.

• Competitive Compensation: Financial Analysts often receive competitive salaries, which increase as they gain more experience and qualifications.

Working Conditions

Financial Analysts find themselves in dynamic, fast-paced corporate environments, where they’re tasked with analyzing financial data, forecasting trends, and helping guide strategic decisions. Typically operating during traditional business hours, these professionals should anticipate longer hours during busy reporting periods or during significant projects.

Further Studies

• Master’s in Finance (MFin): This is a more specialized degree that provides intensive instruction in finance, financial markets, and financial decision-making. MFin programs offer an in-depth exploration of subjects like corporate finance, financial modeling, and investment analysis.

• • Pre-requisites: You may need to have completed prior courses in finance, calculus, and statistics.

• Financial Markets and Investments Courses: Take courses that focus on financial markets, investment analysis, and portfolio management. Understanding different asset classes and investment strategies is valuable for a Financial Analyst.

Benefits

• Influential Role in Organizations: As a Budget Analyst, your insights and recommendations can have a significant impact on an organization’s financial planning and strategies.

• High Demand for Skills: Budget Analysts with a strong economics background are sought after in various sectors, including government agencies, corporations, and non-profit organizations.

• Transferability of Skills: The skills developed in budget analysis are widely applicable, providing opportunities to move into other areas of finance or management.

• Job Security: Every organization needs financial planning and budget management, making Budget Analysts indispensable and providing a stable career path.

Working Conditions

As a Budget Analyst, you’ll spend most of your time in a structured office setting, reviewing budgets and spending proposals, and making recommendations to management. Your hours will generally align with the typical workweek, though expect them to extend during peak budget-planning periods. 

While your role will require you to work independently much of the time, you’ll also collaborate with others across the organization, presenting findings and providing fiscal guidance. It’s a role with balanced periods of intense focus and steady work.

Further Studies

• Master’s Degree in Public Administration (MPA): An MPA degree can provide the public sector budgeting skills needed for positions in government. You’ll learn about financial management within the public sector, including how to plan and implement budgets and understand the implications of public financial policy.

• • Pre-requisites: A bachelor’s degree is required, and some programs may require the GRE.

• Certifications in Financial Management: While not always mandatory, certifications such as the Certified Government Financial Manager (CGFM) designation can enhance your credibility as a Budget Analyst.

Benefits

• Job Stability: Given the ongoing need for policy analysis in government, non-profit organizations, and private sector, job stability tends to be strong in this field.

• Relocation Assistance: If the job requires moving to a new city or country, some employers may provide relocation assistance.

• Opportunity to Influence Policies: Your research and analysis can directly influence policy decisions at local, state, national, or even international levels.

• Cross-Sector Opportunities: The skills and knowledge gained as a Policy Analyst can be transferred to roles in many other sectors, such as academia, journalism, or the corporate world.

Working Conditions

Working as a Policy Analyst, you’ll typically be based in an office environment, often within a government agency, think tank, or non-profit organization. Your work schedule will mostly align with standard hours, but be prepared for additional effort during critical policy development or legislative sessions. You’ll spend your time reviewing existing policies, crafting new ones, and evaluating their impact on your organization or community.

Further Studies

• Master’s Degree in Public Policy, Public Administration, or a Related Field: Many Policy Analyst positions, especially in government agencies, research organizations, or think tanks, require a master’s degree in Public Policy, Public Administration, Economics, or a related field. Pursuing a master’s degree will provide you with specialized knowledge in policy analysis and research methodologies.

• • Pre-requisites: Vary for a master’s in public policy. Economics bachelor’s is usually sufficient, but some programs require economics, statistics, math, or public policy coursework.

• Policy Writing and Communication: Develop strong policy writing and communication skills to effectively communicate policy recommendations to stakeholders. Learn about public policy and government operations to understand how policies are made and implemented.

Benefits

• Performance-Based Bonuses: Credit Analysts may be eligible for performance-based bonuses tied to their individual or team achievements, incentivizing productivity and excellence.

• Mentorship Programs: Some companies provide mentorship programs, pairing junior Credit Analysts with experienced professionals to foster skill development and knowledge transfer.

• Performance Reviews and Feedback: Regular performance reviews and constructive feedback help Credit Analysts understand their strengths and areas for improvement, contributing to their professional development.

• Career Progression: Experience in credit analysis can open doors to higher roles within financial institutions such as Portfolio Manager or Chief Risk Officer.

Working Conditions

As a Credit Analyst, you’ll be based primarily in an office environment within a bank or a financial institution. Your role will have you analyzing credit data and financial statements of individuals and firms to determine the risk involved in lending money or extending credit. 

While you can anticipate a regular work schedule, periods of high demand or complex cases might require you to put in additional hours. Your work will be a blend of independent analysis and client interaction, offering a dynamic workday.

Further Studies

• Master’s in Finance: A Master’s in Finance degree provides a deeper understanding of financial management, financial markets, and investment analysis, which are key to credit analysis. Prerequisites usually include coursework in basic economics, statistics, and calculus.

• Chartered Financial Analyst (CFA): The CFA designation is globally recognized and highly valued in finance and investment fields. The CFA program covers topics such as corporate finance, financial reporting, and equity valuation, which are directly applicable to credit analysis.

Benefits

• Professional Development Grants: Employers may provide economic development specialists with grants or budgets dedicated to attending workshops, conferences, and training programs to enhance their skills and knowledge.

• Sabbatical Leave: Some organizations offer sabbatical leaves after a certain period of service, allowing economic development specialists to take an extended break for personal growth or rejuvenation.

• Health and Wellness Programs: Employers may offer comprehensive health and wellness programs that encompass physical fitness, mental health support, and stress management resources.

• Professional Memberships and Associations: Companies may cover the cost of memberships in professional associations related to economic development, facilitating networking and knowledge-sharing opportunities.

Working Conditions

In the role of an Economic Development Specialist, you’ll split your time between an office setting and fieldwork. You’ll facilitate projects and programs that promote economic growth and create jobs in your community or region. Your schedule may extend beyond the typical nine-to-five as you meet with community stakeholders, businesses, and government officials, and address various community needs.

Further Studies

• Master’s Degree in Economics, Public Policy, or Urban Planning: Many Economic Development Specialist positions require a master’s degree in Economics, Public Policy, Urban Planning, or a related field. Pursuing a master’s degree will provide you with specialized knowledge and skills in economic analysis, policy formulation, and development strategies.

• Certified Economic Developer (CEcD): This globally recognized certification by the International Economic Development Council (IEDC) can be beneficial. It covers topics such as business retention and expansion, real estate, and credit analysis.

• Leadership in Energy and Environmental Design (LEED) Accreditation: For those interested in sustainable economic development, the LEED accreditation offered by the U.S. Green Building Council can be useful. It focuses on green building and sustainable development practices.

Benefits

• Professional Training and Workshops: Employers may offer regular training sessions and workshops to enhance the analytical and technical skills of Market Research Analysts.

• Clear Career Progression: Companies may have well-defined career paths and growth opportunities for Market Research Analysts, providing a clear trajectory for advancement within the organization.

• In-Demand Skills: Market Research Analysts, especially those with a background in economics, are highly sought after in various industries such as retail, healthcare, technology, and finance.

• Entrepreneurial Opportunities: Use market research to identify market gaps and launch new products or services.

Working Conditions

Management Consultants often find themselves traveling frequently to meet clients, working in various industries across different locations. This profession involves working in client-facing, team-based environments with high-pressure deadlines. 

While the working hours are generally full-time, they can extend due to project needs or travel requirements. The pace can be intense but it often provides diverse challenges and constant learning opportunities.

Further Studies

• Master’s in Market Research: This degree provides in-depth knowledge about market research methodologies, consumer behavior, and data analysis. These skills are crucial for Market Research Analysts who need to understand market trends and consumer preferences. A bachelor’s degree is typically required, and some programs may ask for GMAT or GRE scores.

• Professional Researcher Certification (PRC): Offered by the Insights Association, this certification demonstrates a high level of understanding of market research principles and adherence to industry standards.