One can venture into several careers with an economics degree, making it a lucrative course that students should consider taking in college. The global job market is rapidly opening up for economic graduates, and thus it is essential to take advantage of the current talent demand. The upside of taking an economics major is that it opens you up to diverse career opportunities. The diversity in this field makes it the best option for students who want to be open to more than just a specific niche. Let’s explore some occupations you can explore with an economics degree.
Accountant
Accountancy is another noble career you can pursue after completing your undergraduate economics course. Accountants are the backbone of most companies, big or small, since they conduct audits, tax analyses, and keep vital financial records. However, most firms can only run with an account, and those that cannot afford an in-house accountant go as far as outsourcing accountancy services, making it a lucrative career. The upside about pursuing accountancy is you can still open your private practice and get outsourced by companies that want audits, payroll setup, tax planning, and much more. Thus, you can venture into entrepreneurship or look for employment.
Financial Analyst
Financial analysts play a significant role in keeping companies running since they make vital investment strategies and decisions. These decisions involve intensive data research and mathematical permutations. So if you have been handling your research assignments without needing to buy an essay, you already have an edge in research. Financial analysts can work for individual companies or financial institutions. They are also tasked with looking at a company’s assets, stocks, shares, and tenders and coming up with the best financial advice to keep the company ahead of its competition.
Actuary
An actuary is the closest thing businesses have to predict the future. Companies often look into the unprecedented future to ensure their operation remains marketable. Thus, an actuary plays a significant role in helping firms manage risks. They leverage their economics and statistics knowledge to predict what the future market will look like. As a result, companies can take the necessary measures from their reports to mitigate future risks. Actuaries can work in any institution, from health care to financial institutions. This field has numerous opportunities since you can fit in any institution.
Data Analyst
Data analysts are primarily tasked with collecting and analyzing data that can be used in improving marketing strategies and other influential decisions in a company. In addition, the mined data can be used to predict client behavior or even future financial implications of the current decisions being made in the company. As a data analyst, you will also work for companies providing multiple services, from tech firms to financial institutions, laboratories, and much more.
Policy Analyst
After completing your economics degree, you can join the public or private sector. Whatever path you choose, you can still sit in the board rooms where meaningful decisions are made. As a policy analyst, you will be part of the team that develops laws and recommendations that can impact the operations of a private company or the entire public. Additionally, policy analysts play a primary role in investigating current policies and suggesting areas that should be amended to solve various social issues. Therefore, if you decide to pursue a career along this line, you can work for the government or private companies.
Business Consultant
The best part about studying economics is that you can become an entrepreneur by opening your consultancy firm. Sometimes we need to be more cut out for employment. Therefore, you can start your consultancy firm if you like working under your terms and setting your schedule. It may sound like a tall order, especially if you are fresh from college, but you can make it work with the right mentorship and attitude. Business consultants develop strategies for institutions by organizing various campaigns and projects. As a business consultant, you will also look into the current system of the companies you work with and develop recommendations for streamlining specific processes.
Bottom Line
Taking up an economics major may require total concentration since it can be challenging. Nevertheless, from the course, you can learn several skills and concepts that will be useful in the job market. Some of the skills you will learn are patience, problem solving, and analytical abilities. These skills will make you the ideal candidate for almost all jobs you will apply for in the economic niche. So if you’re looking for a versatile course that offers diverse job opportunities, you can opt for an economics major.
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