Are you passionate about numbers and curious about how markets work? Are you interested in researching the economy to bring change for the better? If your answer is yes, then a Bachelor's degree in Economics can help you build a wonderful career in this field.
If you are wondering what job opportunities are available after completing a degree in Economics, you will be glad to know that a whole range of options awaits you.
Let’s take a closer look at some of the best economics jobs and the average salaries in the US, based on data from Glassdoor:
1. Financial Risk Analyst – 84,700 USD/year
Work for: insurance or trading companies, hedge funds, in the public sector
Financial risk analysts handle the process of risk management within an organisation. They evaluate and predict events that might negatively impact the financial stability of the organisation.
A financial risk analyst can manage business decisions in four major risk categories: credit risk, regulatory risk, operational risk, and market risk.
The duties of financial risk analysts include:
- Making suggestions to reduce or control potential risks
- Forecasting, monitoring, and staying up to date with market trends
- Collaborating with traders and assessing the risks associated with specific transactions
- Analysing the economic implications of factors such as natural disasters, weather, etc.
2. Auditor – 59,250 USD/year
Work for: financial consultancy companies, the government
An auditor is responsible for reviewing the financial status and accounts of companies and organisations. The work of an auditor is focused on collecting information and checking if all financial statements and records are valid, legal, or presented in a fair manner.
Some of the main tasks of an auditor are:
- Collecting financial data by inquiring the management and other employees
- Understanding the processes and policies of the organisations
- Analysing all types of financial documents, including account balances or classes of transactions
3. Economic Consultant – 82,900 USD/year
Work for: financial companies, research institutes, public and private agencies
Economic consultants study financial and statistical data in a certain area of specialisation, such as finance, labour, agriculture, etc. They also complete various studies regarding economic phenomena and possible scenarios.
Apart from conducting thorough research using mathematical and statistical methods, economic consultants make recommendations, policies, or strategies to solve economic problems or to interpret markets.
Economic consultants are in charge of:
- Analysing industry trends that will influence expansions and investments for corporate clients
- Assessing economic damages, analysing intellectual property and antitrust violations
- Reporting research on economic issues
- Studying the socio-economic impacts of new public policies (legislation, taxes, services, and regulations)
4. Financial Manager – 106,600 USD/year
Work for: any type of company, banks, insurance firms, in the public sector
A financial manager is a person who assists the leading managers of all departments within a company and makes sure the organisation reaches its financial goal.
Making use of excellent communication skills and analytical abilities, financial managers have to prepare financial reports, investment activities, and develop strategies to increase the revenues of a company.
Common duties of financial managers are:
- Preparing and reviewing the company's financial reports
- Making sure legal requirements are met for all financial details
- Supervising employees from the financial or budgeting department
- Finding opportunities for expansion or for acquiring other companies
5. Actuarial Analyst – 76,200 USD/year
Work for: most often, insurance companies
Actuarial analysts use their knowledge in Mathematics and Statistics to analyse data, evaluate risks, and establish policy premiums (how much people should pay for their insurance).
They use specific programmes, spreadsheets, and other tools which make their work easier and more efficient. You can either work alone or in a team with other actuarial specialists.
Actuarial professionals often specialise in one are of work, such as: finance, life insurance, healthcare, savings, etc.
These are some of the most common responsibilities for an actuarial analyst:
- Conduct research, gather and analyse data; use it to gain relevant insights
- Use spreadsheets and other software to analyse information, use complex formulas, and determine costs
- Create periodic reports based on your work and findings
Best universities for a Bachelor’s in Economics
The building block for a successful career in Economics is a great education. Here are some of the best universities in the world (from different countries) where you can study Economics, based on TopUniversities’ 2021 Rankings:
- Stanford University, the US
- The London School of Economics and Political Science (LSE), the UK
- Bocconi University, Italy
- National University of Singapore (NUS), Singapore
- University of British Columbia, Canada
- University of Melbourne, Australia
- Peking University, China
- Tilburg University, the Netherlands
- University of Tokyo, Japan
- University of Zurich, Switzerland
Keep in mind that, in addition to on-campus studies, there are a lot of online Bachelors in Economics you may consider checking out.
No matter which career you choose, studying a Bachelor’s or Master's degree in Economics will help you to develop key skills, like analytical problem solving and great communication abilities, as well as unmatched research-driven decision-making — all key qualities of a successful economist.