What is a career in economics?
Economists use and apply their understanding of micro and macroeconomics, econometrics and mathematical and financial economics to analyse business situations and predict future economic developments. Their numerical and analytical skills and ability to understand and communicate broad socio-economic and political concepts to a wider audience are greatly appreciated by employers across the public and private sectors.
Undergraduate and postgraduate economics degrees are popular with a wide range of recruiters including strategy and management consultants and investment banks, as well as a broad range of other commercial enterprises, public sector and not-for-profit employers.
Driven by COVID-induced improvisation, we are seeing growth in innovation in the financial sector. The rise of FinTech and banking apps, ESG investments and issues concerning green energy and sustainability are creating new opportunities for those working in economics.
Where can I work and what can I do?
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Banks – institutions such as the Bank of England have an economist stream within their graduate development programmes. Investment banks also look to fill ‘Quantitative Analyst’ roles with graduates who have a blend of economics, maths and programming skills. These roles may involve structuring derivatives, developing risk models, or algorithmic trading. To find out more about the banking sector, visit our Careers in banking and investment page.
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Other financial services companies – including insurance and accountancy firms. To find out more about the financial services sector, visit our Careers in financial services page.
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Consultancies – if you’re looking for a role where you can apply your economic knowledge more directly, economic consultancy may be worth exploring. Professional services firms such as Deloitte and PWC have specific economic consulting streams, and within the UK there are many consultancies specialising solely in economics, including CEPA, Frontier and Cornerstone Research. To find out more about a consultancy career, visit our Careers in consultancy page.
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Economic consultancies – NERA, Oxera, Frontier Economics, Vivid Economics, RBB Economics, Alix Partners, Cornerstone Research, Oxford Economics, and Compass Lexecon, to name just a few. Economic consultancies often specialise in specific sectors, such as financial services, energy, or transport. They will also provide particular kinds of consultancy expertise, such as competition policy, regulation, or market analysis. For a brief introduction to these and other economic consultancies, please look at our Economic consulting overview.
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Government departments – the Civil Service is a major employer for economists and many work within the Government Economic Service, Financial Conduct Authority and HMRC. The Government Economic Service is the UK's largest recruiter of economists, recruiting over 100 new graduates into assistant economist posts each year.
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International organisations – to find out more about international organisations, visit our Careers in international organisations page.
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Research institutes and think tanks – typical employers include, Adam Smith Institute (ASI), CESifo Group, Deutsches Institut fuer Wirtschaftsforschung (DIW), Centre for Economic Policy Research, Institute of Economic Affairs, Institute for Fiscal Studies (IFS), International Institute for Environment and Development (IIED), National Institute of Economic and Social Research (NIESR), Overseas Development Institute (ODI), New Economics Foundation (NEF) and RAND Corporation.
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Data science and analytics – Many economics grads pivot to data-oriented roles in tech, retail, healthcare, and sustainability. Jobs include data analyst, data scientist, or operations research analyst and these roles help organisations derive insights from large datasets. To find out more about careers in data, visit our Careers in data page.
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Technology – Tech firms increasingly hire economists to drive pricing strategy, network effects optimisation, platform policy, and competition insights. These roles merge economics with product and strategy functions eg, Economists at Amazon
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Environmental economics and sustainability – As ESG considerations grow, roles evaluating carbon markets, natural capital valuation, or cost-benefit modelling for climate projects are gaining traction in both public and private sectors.
There are many different job roles in this sector. We've outlined those that are often of interest to LSE students, with links to where you can find more information. If you can, try to talk to someone who's doing the jobs you're interested in, so you can get a real flavour of what it's like:
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Actuarial analysts – use strong mathematical ability to analyse data and assess risk. As an actuarial analyst, you'll be required to understand and use complex mathematical formulas, particularly in advanced statistics and modelling and use spreadsheets or other specialist software to complete data analysis tasks. Check out the Prospects actuarial analyst job profile here.
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Chartered accountants – give advice, audit accounts, and provide trustworthy information about financial records. This might involve financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes. Chartered accountants work strategically with the aim to maximise profitability on behalf of their client or employer. You can find out more about chartered accountants here.
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Data analysts – are in high demand across all sectors, such as finance, consulting, manufacturing, pharmaceuticals, government, and education. The ability to pay attention to detail, communicate well and be highly organised are essential skills for data analysts. They not only need to understand the data but be able to provide insight and analysis through clear visual, written, and verbal communication. Learn more about what data analysts do here.
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Economists – carry out research and collect large amounts of information that can cover any aspect of economic and social policy, ranging from interest rates, taxation and employment levels to energy, health, transport, and international development. Economists analyse the information using specialist software and advanced methods in statistical analysis to produce forecasts of economic trends and make recommendations of ways to improve efficiency. Check out the Prospects economists job profile here.
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Auditors – examine financial records and other data to provide businesses, their investors and market regulators with a clear picture of how they're performing. They also make recommendations for improvement. Although essentially a qualified accountant, their auditing work will extend beyond financial audit as you are working with clients to help them identify and manage risks across all areas of their business is the norm. Check out the Prospects auditors job profile here.
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Investment bankers – provide a range of financial services to companies, institutions and governments with the aim of helping them to achieve their financial goals and implement long and short-term financial plans. Investment bankers manage corporate, strategic and financial opportunities, including acquisitions, bonds and shares, initial public offerings (IPO), lending, merger and privatisations. You can find out more about what an investment banker does here.
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Financial risk analysts – identify and analyse the areas of potential risk threatening the assets, earning capacity or success of organisations in the industrial, commercial or public sector. They are responsible for predicting change and future trends, as well as forecasting cost to the organisation. Risk analysts may work in sales, origination, trading, marketing, financial services or private banking, specialising in credit, market, operational and regulatory. Read a full risk analyst job description here.
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Stockbrokers – Stockbrokers buy and sell stocks, shares and other securities on behalf of private and commercial clients, through a stock exchange or over the counter, in return for a fee or a commission. You can find out more about what a stockbroker does here.
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Financial traders – buy and sell shares, bonds and assets for investors, including individuals and banks. They make prices and execute trades, seeking to maximise assets or minimise financial risk. Some specialise in a particular product, such as shares, fixed-interest bonds or foreign exchange (FX) markets. You can read more about what financial traders do on Prospects.
Insights from alumni and organisations
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AI and automation in modelling and forecasting
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Cross-disciplinary economists (economics and behavioural science, economics and climate science)
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Growth of private sector applied economics units within tech, transport, and energy companies eg, economists at Amazon
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Economists with data science + econometrics (Python, R, Stata, SQL)
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A combination of ‘soft’ and ‘hard’ skills – digital and AI literacy, adaptability, teamwork, and ethical reasoning are all valued alongside technical know-how
Cornerstone Research have also shared their advice on preparing for economic consulting interviews:
We understand that the interview process can be stressful but also look at it as an opportunity for you to get to know an employer. An important part of the process is for us to see how you approach and think about a problem, but it’s also for you to get a taste for what types of problems we think about in our work and whether you think you’d enjoy it. We’re not looking for specific technical knowledge so during the interview process just try to be yourself and show us your economic intuition.
Get involved in groups like LSESU's Economics Society to network and demonstrate commitment on your CV.
Use LinkedIn to search for and connect with LSE alumni and to join industry groups.
Consider student memberships for professional bodies. Professional bodies such as the Royal Economic Society and UK WEN (Women in Economics) who provide social networking resources and networking opportunities for members. Follow them on social media and LinkedIn to receive updates about events and networking opportunities.
Where can I find out more about working in this sector?
Interested in finding out more about a career in economics?
Here are some helpful links, including the ways LSE Careers can work with you on your journey.
LSE Careers events programmes:
External events: