Economics has transcended every walk of life and, this list of 35 entry level job opportunities for economics majors would make you realize that there are varied and well-paid career opportunities available across industries. The primary objective of this article is to save you the effort of digging through scores of websites and give you all the information required about types of jobs for economics major in one single place (save for some unavoidable mouse clicks).
Before we start digging out what economic majors really do, let’s get a glimpse of what is Economics. Famous British economist Alfred Marshall interestingly defined Economics as a study of Man in the ordinary business of life in the context of his income and expenditure. He goes on stating that economics thus is a study of man himself. And how close this is to reality. Economics today deals with politics, business, social welfare, healthcare, international affairs, culture and last but not the least households.
Although Economics is essential, it is not so simple. It is full of complicated mathematical models and empirical methods. It involves in-depth of research encompassing raw materials, incomes, expenditure patterns, demographics depending upon the issue at hand. As such those who choose economics should have a flair for mathematics, and it should not be far-fetched to say a love for numbers. Proficiency in statistical modeling and computer programs which can create statistical models can be highly beneficial to an economics major. One has to be constantly in touch with the current affairs and should be an avid reader. Economists should be inquisitive by nature, and this necessity to know helps the economist to reach the root cause of many problems like slowing economic growth, stagnant incomes levels, high production costs, etc. They have to be good at analytical skills to make sense out of the available data. All the results of the data analysis need to be presented to the concerned audience in less complicated manner. Therefore, writings skills are equally essential characteristics of an economics major.
Candidates with economic majors are relevant and required in various fields of business, government operations as well as social endeavors. And as such, one can look at a number of possible careers in economics. Primary job activities for jobs relevant to economics majors involve data sourcing, structure it in systematic mathematical models, analyze the information and based on these the present their solutions, predictions or commentary on current situations.
These aspects have resulted in better job prospects for students having economic majors. According to United State’s Bureau of Labor Statistics, for economists alone, the demand is projected to grow at a pace of 6% annually. The opportunities are plenty and sky is the limit for the right candidates as is evident from this article on 12 Best Job Opportunities for Economics Majors, which lists out highest paying jobs for economics majors.
The methodology we used to compile this list of 35 entry level job opportunities for economics majors primarily focuses on ease of getting qualified for these positions. This would mean less than 1 year or no experience required while for the jobs. Though in this article we have used minimum salary as criteria to list down these jobs, salaries do not really matter when getting employed is a matter of serious concern, especially when you are a fresh graduate. Some wise has wisely said, “A bird in the hand is worth two in the bush.” However, we would still encourage you to have a look at entry level economics jobs salary as listed in 11 Best Paying Entry Level Jobs for Economics Majors, just in case you want to understand which bird, err, which job you would like to have in your hand. One important thing to note here is that though this article focuses on statistics for US job market, internationally, economics jobs at entry level would present similar trends as more or less the same skill sets would be essential across countries, although percentages, educational qualifications, and salary levels may vary.
Bureau of Labor Statistics’s (BLS) website has a vast amount of information about various occupations and the same has been referred to in compiling information on salaries and salient features for jobs in our list. Information on those jobs which were not listed in BLS database, we sourced the data from authentic sources like PayScale, indeed, Sokanu.
Based on these criteria, here is the list of 35 entry level job opportunities for economics majors. It is important to note here that most of these jobs require analytical skills which are not explicitly mentioned under important skills heading, an economics major should possess it nevertheless.