How to Start a Career With a Degree in Economics

How to Start a Career With a Degree in Economics

How to Start a Career:After graduation, you are faced with another journey – finding a suitable job. For economics graduates, most of the jobs they get do not come with ‘economist’ as the job title. This is a challenge because many potential employers feel that economics is all about monetary and fiscal policies or at most, determining the GDP of a country.

This slows down the chances of an average economics graduate getting a job offer. It takes smartness to major in economics and this is a strong one should leverage on. However, there are skills that you will need to look out for in any job opening. Since some job vacancies are not going to specify that an economist is needed to fill out a particular position, you need to outsmart the situation and get yourself a job.

How to Start a Career With a Degree in Economics

Not to sound out of place, there are common career paths that are open to economics majors and they include:

  • Pure economist
  • Economic analyst
  • Economic research assistant
  • Financial planner
  • Economic researcher
  • Financial risk analyst
  • Financial consultant
  • Investment consultant, and so on

If for any reason, you want a closely-related job in economics, you could look for jobs with the following skills.

How to Start a Career With a Degree in Economics

  1. Communication: If you have the ability to explain ambiguous situations in a very simple and concise term, you might consider job options with communication skills. You could also take a course in communications to master the skill better.
  2. Data analysis and statistics: Ability to manipulate data, statistics, and finding relationships between variables are very important to an economist. Your ability to analyze a situation and choose whether, for instance, to make a profit by selling your product at a cheaper rate to a large number of people or making the product more expensive and attract only a few high-paying clients could get you a job in a firm. So, you should know the factors that could lead to higher sales and lower costs.
  3. Learning about new products: Some firms try to test-run the market before launching out their products. This could be an opportunity for you to get a job. Fast-growing industries might be in need of such an ability.
  4. Other common job openings graduates with economic backgrounds could kick off their careers include auditing, stock brokerage, insurance, business management, price analysis, statistics, sales, financial consultancy, and a host of them. This is to tell you that there is virtually no job you cannot do.
  5. In some extreme cases, you may want to consider broader career options like international development, business intelligence, IT, journalism, public relations, politics, business law, human resources, management, marketing, researching, and many more. You could even consider entrepreneurial skills and build up your own business. In everything, you will need to acquire some relevant skills necessary to scale through.

Starting a Successful Career in Economics

To start a successful career with an economics major, you need to start the preparation, even while in your grad school. This will help you to make the best of your education and also become a hot cake after graduation. Like we pointed out, working with a degree in economics does not entail working in a government establishment only, there are other jobs you could do that have no business with your certificate. This is why you must brush up your skills in related fields so as to spread out the more.

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It is of utmost necessity for you to start early to sharpen your skills in relevant fields because you may not have time after graduation. This could put you in a tight corner when you have needed it. The following skills will be very useful for you to acquire. You may not have all of them, but a combination of them will give you an edge when applying for jobs. Similarly, you may not acquire them at once. Drip makes a mighty ocean. Just start with one and keep improving all along.

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  • Math skills: Knowing your way through numbers and ability to analyze data could help you secure a good position in one of the biggest firms in the world. If you lack math skills, you could take remedial courses to improve.
  • Software and programming skills: Computer skills like Word, Access, Tableau, Excel, and Powerpoint are compulsory. Data analysis is something an economist should not joke with. This is why you should not overestimate your knowledge of Excel. You could also consider enrolling in any spreadsheet course, as the skill will give you an edge over other applicants when you are applying for a vacant position. Knowledge of the computer is very important in any field because of the jet age. There is virtually nothing you can do without computer literacy. So, get yourself equipped ahead of time.
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  • Enroll in an internship: You may not get a paid internship, still, enroll in one. Getting the experience will pay you in the long run. If you are being offered some money for the internship, it means that you are being paid to acquire experience. Luck could shine on you too and you are hired afterward. You could see that internship is a very great option. Sadly, it is very difficult to get; every student is looking for one.
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  • Networking: Networking with people is the best connection nowadays. Getting some jobs in some countries is based on who you know versus who knows you. You could know someone but he does not know you. Networking helps to bridge this gap. Send mail to people. Get to know your professors and classmates. Go on a date with close friends who could also come with their other friends. Social media platforms could help you to reach out to quite a large number of people these days. Be polite while reaching out to people as it will help them to open up to you.
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  • Do not joke with your studies: You need your grades to scale up too. While in school, you could get distracted by the happenings around you. Don’t forget that if your grade is poor, other skills may not outshine it. Look forward to smashing your academic goals.
  • Do some part-time jobs: Part-time jobs help to build your resume. Getting some certifications will also add some beautiful feathers to the resume. So, start building up now.
  • Participate in some services: Community service, volunteering, organizing events, and so on, will help to boost your chances of starting your career with economics. They all provide you with opportunities to practice your leadership skills and also gain experiences.
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