Economics is a popular field of study that offers graduates many job opportunities. Economics graduates have a unique skill set highly valued by employers, making them well-suited for various public and private roles. This blog will explore some of the job opportunities available for economics graduates.

• Economist: An economist is a professional who studies the production, consumption, and distribution of goods and services. Economists can work in various settings, including government agencies, corporations, and consulting firms. Their responsibilities typically involve analysing data, developing economic models, and making policy recommendations. Many economists specialise in a particular field, such as macroeconomics or environmental economics.
• Financial Analyst: Financial analysts work for companies or investment firms, analysing financial data and making investment recommendations. They use their knowledge of economics to evaluate the performance of companies, industries, and markets. Financial analysts often specialise in areas such as equity or fixed-income research.
• Management Consultant: Management consultants work with companies to help them solve business problems and improve their operations. They use their analytical and problem-solving skills to identify areas of improvement and make recommendations for change. Economics graduates are well-suited for this role, as they have a robust data analysis and problem-solving foundation.
• Data Analyst: Data analysts use large datasets to identify patterns and trends. They use statistical analysis tools and software to clean, transform, and model data. Economics graduates are well-suited for this role, as they have a vital statistics and data analysis background.
• Policy Analyst: Policy analysts work for government agencies, think tanks or non-profit organisations to analyse and develop policy recommendations. They use their knowledge of economics to evaluate policies' effectiveness and make improvement recommendations. Policy analysts often specialise in a particular area, such as healthcare or education policy.
• Research Analyst: Research analysts work in various industries, including market research, social science research, and academic research. They use their knowledge of economics to design and execute research studies, analyse data, and prepare reports. Research analysts often specialise in a particular area, such as consumer behaviour or labour economics.
• Government Economist: Government economists work for agencies like the Federal Reserve or the Department of Labor. They use their knowledge of economics to analyse economic data and make policy recommendations. Government economists often specialise in areas such as monetary policy or international trade.
• Non-Profit Economist: Non-profit economists work for non-profit organisations, such as think tanks or advocacy groups. They use their knowledge of economics to analyse policy issues and make recommendations for change. Non-profit economists often specialise in areas such as poverty or environmental policy.
• Investment Banker: Investment bankers work for investment banks, advising companies on mergers and acquisitions, raising capital, and issuing securities. They use their knowledge of economics to evaluate the financial performance of companies and industries. Investment bankers often specialise in areas such as corporate finance or capital markets.
• International Economist: International economists work for government agencies, multinational corporations, or international organisations, such as the World Bank or the International Monetary Fund. They use their knowledge of economics to analyse global economic trends and make recommendations for international economic policy. International economists often specialise in areas such as international trade or development economics.

Top Universities in the US for Economics

1. Massachusetts Institute of Technology (MIT): MIT is widely regarded as one of the top universities in the world for economics. Its Department of Economics is home to renowned scholars such as Esther Duflo, Abhijit Banerjee, and Bengt Holmström, who have received Nobel Prizes for their work in economics. MIT's economics program is known for its rigorous training in economic theory, empirical methods, and applied economics.
2. Harvard University: Harvard University is another top-ranked institution with an outstanding economics program. The university's Department of Economics has produced numerous Nobel laureates, including Paul Samuelson, Kenneth Arrow, and Amartya Sen. Harvard's economics program is known for its emphasis on economic theory and empirical research.
3. Stanford University: Stanford University's Department of Economics is known for its strength in microeconomics and game theory. The department has produced several Nobel laureates, including Alvin Roth, who won the prize in 2012 for his work in market design. Stanford's economics program is characterised by its interdisciplinary approach, with students having the opportunity to take courses in related fields such as political science and sociology.
4. Princeton University: Princeton University's Department of Economics is one of the oldest and most respected in the US. The department is home to numerous Nobel laureates, including Paul Krugman, who won the prize in 2008 for his work in international trade. Princeton's economics program is known for its emphasis on economic theory and econometrics.
5. University of Chicago: The University of Chicago's Department of Economics is known for its emphasis on economic theory and its rigorous training in econometrics. The department has produced numerous Nobel laureates, including Milton Friedman, Gary Becker, and Eugene Fama. Chicago's economics program is characterised by its focus on the "Chicago School" of economics, which emphasises free markets and individual decision-making.
6. Yale University: Yale University's Department of Economics is known for its strengths in macroeconomics and econometrics. The department has produced several Nobel laureates, including James Tobin, who won the prize in 1981 for his work in macroeconomics. Yale's economics program is characterised by its emphasis on empirical research and interdisciplinary approaches.
7. University of California, Berkeley: The University of California, Berkeley's Department of Economics, is known for its strengths in economic theory, empirical research, and public policy. The department has produced several Nobel laureates, including George Akerlof, who won the prize in 2001 for his work in behavioural economics. Berkeley's economics program is characterised by its emphasis on policy-relevant research and its commitment to diversity and inclusion.
8. Columbia University: Columbia University's Department of Economics is known for its strengths in macroeconomics and international economics. The department has produced several Nobel laureates, including Joseph Stiglitz, who won the prize in 2001 for his work in information economics. Columbia's economics program is characterised by its interdisciplinary approach and focuses on policy-relevant research.
9. New York University: New York University's Department of Economics is known for its strengths in economic theory, econometrics, and experimental economics. The department has produced several Nobel laureates, including Thomas Sargent, who won the prize in 2011 for his work in macroeconomics. NYU's economics program is characterised by its emphasis on experimental research and its commitment to global perspectives.
10. University of Michigan: The University of Michigan's Department of Economics is known for its strengths in econometrics and empirical research. The department has produced several renowned scholars, including Nobel laureate James Heckman, who won the prize in 2000 for his work in labour economics. Michigan's economics program is characterised by its focus on applied economics and public policy.

Salary of Economics graduates

The salary of economics graduates can vary greatly depending on their level of education, experience, and the industry in which they work. Economics graduates are in high demand across various industries and can earn competitive salaries.

According to data from the U.S. Bureau of Labor Statistics (BLS), the median annual wage for economists in 2020 was $108,350. However, the salary range for economists was quite broad, with the lowest 10% earning less than $64,930 and the highest 10% earning more than $204,470.

Entry-level economists typically earn lower salaries than those with more experience. For example, according to Payscale, the median salary for an entry-level economist with less than one year of experience is $60,000 annually. However, with five to ten years of experience, the median salary increases to $87,000 per year, and with more than ten years of experience, it can exceed $120,000 per year.

The industry in which an economist works can also have a significant impact on their salary. The BLS reports that economists working in the federal government earned a median salary of $123,070 in 2020, while those working in management, scientific, and technical consulting services earned a median salary of $107,670.