Economics Career Scope: Jobs, Placements, Salary 2024, Top Recruiters
Akansha BishtSenior Executive
Economics career scope is quite vast in our globalized world. We live in an era where the world has become smaller. There is an opportunity for trade between countries. Economics has become a very important field of study to help expand the growth and opportunities in a country.
Students who choose to pursue a career in Economics can look forward to a promising and stable career with a lot of job options. Students can pursue a career as a financial analyst, investment banker, policy analyst, business strategist, etc. A college fresher with an Economics course can expect a salary of around INR 8–15 LPA.
Students who complete the BA Economics course can choose to pursue higher education in MA Economics and Ph.D. in Economics. Most students choose to work in MNCs, universities, financial institutions, consultancies, etc. Some of the top recruiters after an Economics course are Cognizant Technology Solutions, McKinsey & Company, KPMG Boston Consulting Services, etc.
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Top Job Profiles for Economics Graduates
The Economics language is one of the most popular subjects across the world. Students can pursue so many jobs after completing an Economics course.
Government & Private Sector Jobs after Economics Courses
Students can get a job in both, the government as well as the private sectors after completing an Economics Course. Some of the top careers for economics graduate are listed below
|
Economics Job Profiles |
Job Description |
Average Salary |
|---|---|---|
|
Investment Banker |
Provides financial advice to corporates and helps them with acquisitions and mergers. |
INR 16.7 LPA |
|
Economist |
Analyses and prepares reports for improving the financial situation of a business |
INR 16.4 LPA |
|
Actuary |
Assess the present financial situation and plans for uncertain financial conditions. |
INR 7.5 LPA |
|
Financial Analyst |
Creates financial models that could be beneficial for investors and assesses stocks and investments. |
INR 5.9 LPA |
|
Stockbroker |
Enable the sale and purchase of stocks |
INR 2.8 LPA |
Note - The salaries given above have been taken from Ambitionbox.com.
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Economics Courses: Emerging Trends in Careers
- Behavioral Economics: Behavioral Economics is the study of consumer patterns and behaviors. It is a growing industry as it allows big corporations to understand their target audience and develop products and services that appeal to this targeted group. This can help companies grow and increase their revenue.
- Green Growth: Sustainability is a growing concern across the globe. As most governments change their environmental policies, companies are forced to grow more sustainable in their outlook towards growth, but without the cost of hampering their advancement.
- Technology and Advancement: The advancement in technology has made information accessible at the tip of the finger. This brings a large skill gap between the current workforce and the relevant skills required by companies to grow in an effective manner.
- Development of Smart Cities: Smart cities are equipped with transportation, energy, health, utilities, and governance infrastructures. These cities are essential to enable the growth of the country along with the SEZs, as they boost trade practices and opportunities in society.
Economics Courses Scope in India: Jobs, Salary, and Further Education
There is a lot of scope for students who wish to pursue a career in Economics. Students can choose to work in the creative industry, in education as well as in the hospitality sector. There are many options for Economics freshers to choose from. Read on to find out more about Economics career scope and opportunities.
Core Industries for Economics Career
An Economics graduate can find themselves working in various industries. Students can take a look at some of the commonly chosen job industries for a career in the Economics sector.
|
Economics Core Industry |
Average Salary |
|---|---|
|
Government Organisations |
INR 4 LPA |
|
Financial Institutions |
INR 4.5 LPA |
|
Corporations |
INR 3.5 LPA |
|
Consultancies |
INR 13 LPA |
|
Universities and Colleges |
INR 15.5 LPA |
Note- This info is taken from various sources and may vary.
Economics Course Careers Top Recruiters
The top recruiting companies for students who have completed Economics courses include companies like:
|
Economics Courses Top Recruiters |
||
|---|---|---|
|
Bain & Company |
Boston Consulting Services |
KPMG |
|
McKinsey & Company |
Deloitte Consulting Services |
JP Morgan |
|
EY-Parthenon |
Morgan Stanley |
CRISIL |
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Courses after Economics
There are many students who choose to go for higher studies after completing an UG or PG degree in Economics. You can check some top course options in the table below.
|
COURSE |
DESCRIPTION |
|---|---|
|
B.Ed |
A B.Ed degree equips a student with the necessary skills to enter elementary and secondary teaching positions. |
|
Law |
An academic degree that educates students about citizen rights, governance, legal knowledge, etc. |
|
MBA |
A 2-year professional management degree that instructs students on business management, administration, and operation. |
|
PhD |
A doctorate permits candidates to independently conduct and publish their research. |
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Economics Courses: Top Colleges for Placements In India
There are many colleges in India that offer Economics courses. Some of the top colleges, with the highest average placement packages have been mentioned in the table below:
|
Economics Colleges |
Average Placement Salary |
|---|---|
Indian Institute of Foreign Trade |
INR 26.5 LPA |
IIT Kharagpur |
INR 21.28 - 24 LPA |
BITS Pilani |
INR 18 LPA |
University of Mumbai |
INR 18 LPA |
IIT Bombay |
INR 17.92 LPA |
Xavier School of Economics |
INR 17.1 LPA |
IIT Delhi |
INR 17 LPA |
Note - The info is taken from the official website and can vary.
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Popular Economics Specializations
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- B.A. (Hons.) in EconomicsHansraj College, University of Delhi
- B.A. (History + Economics)Hansraj College, University of Delhi
- B.A. (Economics + Commerce)Hansraj College, University of Delhi
- B.A. (Hons.) in EconomicsHindu College, University of Delhi
- B.A. (Hons.) in EconomicsMiranda House, University of Delhi
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- Bachelor of Arts (B.A.)Kirori Mal College, University of Delhi
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146 Colleges
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12 Colleges
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News & Updates
Student Forum
Anything you would want to ask experts?Answered 19 hours ago
Both provide good career options. Careers in corporate finance, banking, accounting, and business management can be got with an MCom, which normally focuses on subjects like accounting, finance, marketing, and management.
Graduates with an MA in Economics are frequently prepared for positions in acad
P
Contributor-Level 7
Answered a week ago
For BA Economics students at Quantum University, the placement scenario is excellent. Many top companies visit campus every year offering roles in research, analytics, finance and consulting. The university's placement cell actively prepares us with training, mock interviews and industry connections
A
Beginner-Level 4
Answered a week ago
There are mainly two streams where you can opt for an Economics subject in Classes 11 and 12, i.e., Humanities and Commerce. If you're a Commerce student (with maths), you can pursue your career in Finance, accounting, business, etc. Being an Arts student, you can study policy, international relatio
A
Contributor-Level 10
Answered a week ago
The highest salary of an Economist may differ on the basis of the company. However, the senior level Economists are known to get high salaries based on their experience.
Sectors employing Economists | Average Salary of Senior Economists (in INR) |
|---|---|
Banking | 22.8 LPA |
Financial Services | 21.4 LPA |
IT Services & Consulting | 16.0 LPA |
Management Consulting | 15.4 LPA |
Analytics & KPO | 12.8 LPA |
A
Contributor-Level 9
Answered 2 weeks ago
Hi.
Christ University offers a B.A. (Honours) in Economics as a full‑time undergraduate degree.
The programme aims to train students in economic theory, quantitative analysis, social relevance, research methods; students learn to analyze economic problems, policies, and real‑world economic issues wit
h
Scholar-Level 18
Answered 2 weeks ago
Hi.
The programme is officially called BA Economics (Honours) at Christ University.
Eligibility: to apply you need to have passed Class 12 (10+2) with at least 55% marks, and you must have studied Economics or Mathematics or Statistics in Class 12.
Admission procedure typically includes an entrance t
h
Scholar-Level 18
Answered 2 months ago
MSc Economics course offered by Economics Department, University College London, recorded a career outcome rate of 94.2%. Following are the finer details:
- Salary: £42,184 (average) and £38,000 (median)
- Location: UK (67%), Overseas (26.4%), EU (6.6%)
- Industry: Consultancy, Accountancy & Financial Servi
R
Contributor-Level 10
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Which subject has the better career opportunities, an M.Com or an MA in economics?