If you’re studying economics and don’t know what you want to do yet, don’t worry — you’re not alone! Plenty of people still in college — and even after, for that matter — are still trying to figure out what their ideal career path is.
While you don’t have to make your decision just yet, now is a great time to start learning more about the different opportunities available to you. To help you in your search, we’ve put together a list of jobs that leverage the skills and knowledge you gain while pursuing a major in economics. Although it’s not a comprehensive list — really, there’s no limit to what you can do in your career — it is a helpful starting point.
Read on below!
12 Great Jobs for Economics Majors
Average Base Pay: $102,339/yr
Let’s get the obvious one out of the way first! Economists interpret data, perform research, identify trends and make predictions based on the information that they gather. Contrary to popular belief, economists don’t just work for the federal government or think tanks — it’s one of the hottest jobs in tech right now, and many other mainstream companies are jumping on the trend as well.
Average Base Pay: $117,345/yr
With a high job satisfaction rating, median base pay and number of open jobs, Data Scientist has earned the #1 spot on Glassdoor’s Best Jobs in America list for four years in a row. At their core, Data Scientists look at large volume of data in order to identify trends and derive insights. This information is then used to influence business decisions.
Average Base Pay: $65,817/yr
Financial Analysts, as you might have guessed, work with money. More specifically, they gather financial data, analyze trends, perform financial modeling and often decide where money should be allocated. They may work for financial institutions such as banks, or work in the finance department at other organizations.
Average Base Pay: $52,598/yr
Whether in Business Operations, Marketing Operations, Sales Operations or another department, Operation Specialists aim to help departments and organizations run more smoothly. They achieve this by analyzing current processes and practices, identifying areas of improvement and suggesting changes that lead to greater efficiency.
Average Base Pay: $105,031/yr
Actuaries analyze the probability of certain events happening. Typically employed by insurance companies, they often look at the likelihood of risks like fires, accidents or flooding to help inform the financial strategy behind insurance policies.
Average Base Pay: $57,196/yr
Researchers, as their name suggests, conduct research — both quantitative and qualitative — in a wide variety of fields. This often means analyzing data, keeping up on the latest studies and producing written papers and reports. Different types of research include academic research, market research, user experience (UX) research, healthcare research and more.
Average Base Pay: $68,611/yr
Pricing Analysts combine analytical skills and market research to strategically determine the optimal price for products and services. Specific tasks may involve conducting a competitive pricing audit, working with secret shoppers, monitoring the price of raw materials and collaborating with product marketing teams on pricing strategy and messaging.
Average Base Pay: $62,658/yr
Underwriters are often employed by insurance companies and financial institutions, and are tasked with determining the risk and opportunity associated with a company investing money in somebody — whether through a mortgage, insurance policy or equity grant — as well as defining the financial parameters of that investment.
Average Base Pay: $67,490/yr
Compensation Analysts gather and interpret information in order to determine how much employees should be paid, often in terms of both base salary as well as cash bonuses, equity and benefits. To do this, they conduct compensation audits, perform market research, analyze a company’s financial performance and create compensation strategies and recommendations.
Average Base Pay: $104,245/yr
Strategy Consultants are responsible for providing high-level recommendations on how a business should be run. Focused on efficiency, improvement and profit maximization, these influential employees identify areas of risk and opportunity throughout a business’s operations in order to drive growth.
Average Base Pay: $76,383/yr
Investment Analysts are typically employed by financial institutions to gather and analyze data to provide guidance on investment choices. They may look specifically at assets like stocks, bonds, companies and commodities as well as larger economic trends to inform their recommendations.
Average Base Pay: $56,560/yr
Although it may require additional certification — many employers prefer accountants to have a Certified Public Accountant license — accounting is a field that leverages many of the quantitative skills you learn while studying economics. Accountants may work for accounting firms, or in-house in the accounting department. Regardless of where they work, accountants look at financial records, ensure their accuracy and prepare financial reports.