With an economics degree, you're not just learning about money; you're acquiring a powerful set of analytical skills that are in high demand across various sectors.
While many economists work in the public sector, assisting in identifying and addressing economic issues, there's also a significant demand for economists in the private sector. Private businesses and nonprofits rely on economists' analytical skills to better understand their markets, service areas, and customers.
Though most economist positions do require an advanced degree, there are many entry-level jobs available for those with bachelor’s degrees. Organizations will always need professionals who can conduct compensation, benefits, and job analysis specialists to help form job descriptions, determine appropriate salaries, and guide compensation and benefits programs. These core functions can often significantly influence the success and viability of a company.
Professionals in this field often work in companies’ human resources or payroll departments. They provide recommendations to management on decisions and help staff understand and manage their benefits.
Economics provides the theoretical foundations for various fields within business administration, much like biology and chemistry do for medicine. An economics graduate can excel not only in the financial department of a private business but also in the public sector, including local, state, and federal government.
Economics is a complex blend of business strategy, mathematics, research, analysis, and social science. You need to analyze how an international trade agreement will impact the global economy for decades, as well as predict consumer behavior and market trends.
With an economics degree, you’ll develop skills in data analysis, mathematics, reasoning, critical thinking, understanding general business operations and trends, and effective communication. These skills are invaluable in our increasingly globalized economy and are highly sought after by employers across industries.
- Economist (public and private sector)
- Financial analyst
- Market research analyst
- Data analyst
- Policy analyst
- Management consultant
- Investment analyst
- Actuary
- Statistician
- Risk analyst
- Business analyst
- Economic consultant
- Operations research analyst
- Compensation and benefits specialist
- Budget analyst
Economic Outlook
Median Salary - $79,880 (for Accountants and Auditors)
Job Growth - 6% increase between 2022-2032
