Economics

 

Economists use and apply their understanding of micro and macro economics, econometrics and mathematical and financial economics to business situations. A wide range of employers value economists' skills of numeracy, their powers of analysis and the ability to understand and communicate broad socio-economic and political concepts to a wider audience.

Undergraduate and postgraduate Economics degrees are popular with a wide range of recruiters, e.g. strategy and management consultants and investment banks in general, as well as a broad range of other commercial enterprises, and public sector and not for profit employers.

However, transferrable skills are often just as important as an Economics qualification, eg. analytical, quantitative and modelling skills.

Listed in this website are a broad selection of organisations and firms which are interested in recruiting economists and in many instances they offer specific internships and career paths for economists.

Useful links

  • US Department of Labor - Economists
    Overview of the job market for Economists in the USA, produced by the US Department of Labor. In addition to specific US data it contains more broadly applicable information on developing a career as an Economist in the government, commercial and academic sectors.
  • Society of Business Economists
    UK based - information on working as an economist in a business environment.
  • National Association for Business Economics
    Useful sources of information for students or graduates interested in working as Economists in a business environment -US based.

Useful Information

Job roles

Entry level

Entry-level economists (associates and analysts), can expect to move in quick succession through several roles and departments within their first two years.

As an analyst, which is the most common entry level in the private sector, you would be expected to provide clear recommendations on a wide range of current economic issues affecting many different sectors including retail, postal communication, health, transport, utilities, and energy.

The Destinations of Leavers of Higher Education (DLHE) survey 2009 shows that the typical starting salaries for LSE graduates is £30,000 - £35,000 although graduate business analysts in investment banks may earn between £40,000 – £45,000.

With experience

After 4 or 5 years of service, economic forecasters and modellers in the public sector can expect to earn £60,000, while those working in consulting and banking can earn three to four times as much.

As legislation and business decisions are intricately connected, government and business welcome employees who are switching careers; they value the knowledge and expertise that career changes may bring when moving from one sector to another.

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