Four Careers for Economists

As an economist, you will have detailed knowledge of data and statistics so that you can advise organizations on financial matters, helping to steer a company or the wider society, towards a brighter financial future. Economists are sought after regardless of the industry they work in, and as such you will never be out of a job. Furthermore, you are not simply restricted to an analyst role, as the types of job you would be suited to are wide ranging. Here are four career paths for an economist to go down.

1. Professional economist

Firstly – and perhaps most obviously – you could pursue a career as a professional economist. In this role, you will be involved in researching and analyzing economic data, issues and trends, as well as presenting these findings to clients so that you can advise on policy and business strategy accordingly. You can work for many employers, from local or national government and thinktanks to banks and large multi-national organizations. It is advisable for you to complete a Master’s degree in economics to further deepen and specialize your knowledge and skillset. An online economics degree gives you the flexibility to fit your further education around a full-time job and active family life.

2. Accountant

As an accountant, you will monitor the financial situation of the client by recording, interpreting and communicating financial data to help them make beneficial financial decisions. You have the freedom to work across multiple industries for clients as varied as large multi-national organizations, small businesses, or individuals wanting to get their personal finances in order. To become a Certified Public Accountant (CPA), you will have to complete a relevant Master’s degree before sitting the CPA exam, which will ensure that you are licensed to practise in your state. Once you have gained state licensure, and have worked under the supervision of a licensed CPA, you are ready to progress to senior accounting roles.

3. Banking 

With their analytical skills and knowledge of data economists are highly sought after by banks, who offer the potential for high earnings. Banking roles that you could pursue include financial planning and risk analysis, designed to help keep the financial requirements of individuals and businesses on track. You could specialize in providing financial support to businesses – enabling them to alter business strategy accordingly; or individuals – helping them to achieve their own financial goals such as pension planning for retirement or obtaining a mortgage for their dream home. 

4. Start your own business

With a highly sought-after background in economics, anything is possible; however, this does not mean that you are restricted to a financial or banking degree. Indeed, your in-depth knowledge of data and financial management places you in a perfect position to start your own successful business. You might have an additional skill that you want to use, for instance, if you are a skilled home baker you could set up a cake business and use your economy skills to guide you towards financial success. 

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