9 Economics Degree Jobs: Salaries, Duties, Requirements

By Indeed Editorial Team

Updated 29 September 2022

Published 29 September 2021

The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.

A degree in economics can provide many work opportunities in various industries. Pursuing a career in an economics-related field may give you a chance to face ambitious professional challenges and improve your analytical thinking or maths skills. To consciously choose a profession that you'd enjoy, you may want to understand the specifics of some of the most popular jobs that you can pursue with a degree in economics. In this article, we list nine interesting economics degree jobs and explore their salaries, primary duties and requirements.

9 economics degree jobs

Here's a list of nine economics degree jobs that you may consider pursuing:

1. Business reporter

National average salary: £27,932 per year

Primary duties: Typically, business reporters are journalists who specialise in writing articles and delivering information about recent events and trends in the business and finance sector. As a business reporter with a degree in economics, you may have a chance of becoming an industry expert. For example, you may consider creating a media series where you'd interview influential investors or economists.

Although it's common for business reporters to be self-taught economics and finance aficionados, it's helpful for them to have a degree in a field related to their work. They also typically need excellent written and verbal communication and research skills. Most employers may require that they have at least a few years of experience in the media or business field before committing to a fully independent role, which is why you may consider an entry-level or assistant role first.

Related: 14 of the Best-Paid Jobs in Finance

2. Policy analyst

National average salary: £36,130 per year

Primary duties: Policy analysts are finance or legal employees whose responsibilities include reviewing and drafting company policies. They may also be responsible for proposing changes to existing policies and ensuring the compatibility between policies and other documents, such as employment contracts. It's common for more experienced analysts to help company leadership identify problems within the organisation and use their creative thinking skills to find innovative solutions to help the organisation run smoothly.

Many policy analysts benefit from holding a master's degree in statistics, public administration or economics. It's important that they gain experience in the field as interns before moving to a fully independent role. If you're interested in becoming a policy analyst, you may even consider looking for an internship while you're still working towards your degree. This may help you position yourself as a highly skilled and qualified graduate and quickly find employment.

Related: 8 Interview Questions and Example Answers for Business Analysts

3. Financial advisor

National average salary: £39,020 per year

Primary duties: As a financial advisor, you can work with individual or business clients, helping them perform complex financial analyses and advise making important business decisions. Your duties may also include helping clients achieve their financial goals by creating personalised financial plans and strategies. Daily, you may provide them with advice about investment plans, savings, budget or tax.

Most financial advisors hold bachelor's degrees in finance, economics or business and have at least five years of experience working in the finance world. This equips them with relevant knowledge and makes them more trustworthy to the different clients they work with. Many financial analysts are generalists, but they may choose to specialise in one area of finance, such as retirement.

Related: How To Become a Financial Advisor: The Complete Guide

4. Statistician

National average salary: £42,287 per year

Primary duties: Statisticians are typically responsible for collecting, analysing and interpreting data. Many employers look for statisticians to fill roles related to creating financial and economic processes, including data collection tools. As a statistician, you may help companies of your employer make important strategic decisions and support them by identifying data and organisational trends.

If you'd like to become a statistician, consider getting a degree in mathematics, statistics or a related field. An undergraduate degree may be enough for more entry-level positions, but if you're aiming for an independent or senior role, consider continuing your education by getting a relevant postgraduate field. To increase your chances of succeeding in this profession, it's important to improve your mathematical abilities, computer literacy and analytical skills.

Related: What is scarcity in economics?

5. Economist

National average salary: £44,927 per year

Primary duties: Economists are typically economy generalists who study and analyse the trends and changes within the industry, such as those related to stocks, bonds, spending or exchange rates. It's common for them to focus on the history, the present or the future of economics and how it influences other parts of society. Many economists are self-employed authors, consultants and commentators.

If you're interested in becoming an economist, you can start by getting a postgraduate degree in economics or a related field. It's also important that you keep improving your qualifications by obtaining a PhD and continuously working on research work. If your goal is to become a mainstream economic commentator, you may find employment on radio or television channels.

6. Product manager

National average salary: £51,634 per year

Primary duties: A product manager is typically a senior employee who works alongside company leadership to set product objectives and oversee the product team's work. It's important for them to have extensive knowledge of marketing, sales and production processes related to the industry or field they're working in. For example, a product manager working at a tech company may choose to specialise in the best management practices for developing digital products, such as software applications.

Employers may require that candidates for independent project management roles have at least a few years of experience in a product team and hold a relevant degree, such as a Master of Business Administration degree (MBA). If you're thinking about pursuing this career path, you may consider applying to a junior or assistant product manager role first and try to advance your career once you gain some work experience. It's also important that you keep improving your communication, marketing and business skills from day one.

Related: Product Manager Skills: 15 Essential Hard and Soft Skills To Develop

7. Compensation manager

National average salary: £63,599 per year

Primary duties: A compensation manager ensures fair and accurate compensation for a company's employees, including their salary, bonuses or stock options. Their daily duties involve determining pay levels for open positions and conducting pay research and studies. It's also possible for a compensation manager to be self-employed and work with multiple companies, providing advice on best salary and compensation practices and tools.

Many compensation managers hold at least a bachelor's degree in business, management, human resources or economics. To work in an independent role, they typically need a few years of experience in HR or a related department. It's also important for them to have some leadership experience.

8. Actuary

National average salary: £67,487 per year

Primary duties: An actuary is a professional whose daily duties include performing statistical and mathematical studies. Their primary goal is to determine and define the financial outcomes of a certain risk. It's common for them to find employment in private or public companies to do financial forecasting.

Most actuaries hold degrees in analytical fields, such as economics, actuarial science or mathematics. If you've got a degree in economics or are working towards one, you may also consider a postgraduate course in computer science or a related field to improve your qualifications for the role. If you're looking for an online course to strengthen your essential actuary skills, you may look into public speaking, communication or writing.

Read more: How Much Does an Actuary Make? (Tips on How to Earn More)

9. Corporate lawyer

National average salary: £71,734 per year

Primary duties: Cooperate lawyers are legal professionals who specialise in commercial law. Their primary responsibilities include ensuring a company's transactions and operations comply with local regulations, preparing documents and negotiating deals. Corporate lawyers with a background in economics may be especially valuable for employers in the banking field because they may adapt faster to finance-oriented roles.

If you're an economics degree holder and aspire to pursue a career as a corporate lawyer, you may consider taking the Legal Practice Course (LPC). It's also important that you obtain a training contract. Be sure to keep improving your written and verbal communication and negotiation skills, essential for a successful corporate lawyer.

Salary figures reflect data listed on Indeed Salaries at the time of writing. Salaries may vary depending on the hiring organisation and a candidate's experience, academic background and location. Please note that none of the companies mentioned in this article are affiliated with Indeed.

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