Top High-Paying Jobs In Economics You Should Know About
Economics is regarded as the science of resource allocation and the study of how society produces, distributes, and consumes goods and services. is an impactful discipline that provides several lucrative opportunities. After graduating with an economics degree, aspirants can seek several professional opportunities in business, government and global markets.
If you are ambitious to build a career in Economics and want to learn which careers pay well, this article is for you. We will explore some of the top high-paying jobs in economics, including the required skills, top employers, and expected salary ranges.
1. Economist
Are you seeking career opportunities in banks, research firms, government institutions, private organisations and academia? If the answer is yes, becoming an economist could be an excellent career choice. As an economist, you should be skilled in predicting future economic conditions by analysing current data and trends. With these insights, economists advise governments, businesses, and organisations on policy decisions, market strategies, and economic planning.
Skills Required:
Statistical analysis
Macroeconomics
Forecasting
Research methodology
Top Employers: RBI, World Bank, NITI Aayog, IMF, research institutions, and financial consultancies
Average Salary: Rs 4.4 Lakhs - 38 Lakhs annually.
(Salary Source: Ambitionbox)
2. Financial Analyst
If you are passionate about working with financial markets, asset valuation and investment strategy, then a career as a financial analyst is a perfect fit for you. As a financial analyst, you will assist companies in portfolio management, equity research and financial planning. It is a suitable career option for those with a strong interest in data interpretation and financial modelling.
Skills Required:
Financial modeling
Data interpretation
Excel
Knowledge of financial instruments
Top Recruiters: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Deloitte, BlackRock.
Average Salary: Rs 2.2 Lakhs - 13.6 Lakhs annually.
(Salary Source: Ambitionbox)
Also Read: Master These Financial Analyst Skills to Land Your Dream Job
3. Actuary
Becoming an actuary is perceived as on of the msot promising and highest-paying jobs in economics. Actuaries focus on evaluation risk associated with insurance, finance, business and healthcare. This profession can be fruitful for those students with strong skills in maths, statistics, and data analysis. With the growing demand for actuarial professionals, the scope and earning potential of economic jobs is also increasing.
Skills Required:
Probability theory
Statistics
Financial theory
Insurance modeling
Top Employers: LIC, Swiss Re, ICICI Lombard, PwC, Aon
Average Salary: Rs 6 Lakhs - Rs. 11.5 Lakhs annually.
(Salary Source: Ambitionbox)
Also Read: Actuarial Science Courses, Subjects, Colleges, Syllabus, Scope, Fees, Eligibility
4. Investment Banker
If you are a candidate with strong analytical skills and an interest in high-stakes financial transactions, investment banking could be a great career option to consider. Investment bankers play an important role in helping organisations raise capital, manage mergers and acquisitions, and handle financial markets. This is a challenging field but for those who enjoy subjects like corporate finance can have a competitive edge.
Skills Required:
Valuation
Financial modeling
Capital markets
Communication
Top Recruiters: Goldman Sachs, JP Morgan, Citi, Barclays, HSBC
Average Salary: Rs 3 Lakhs - 60 Lakhs annually.
(Salary Source: Ambitionbox)
Also Read: Investment Banking Courses, Fees, Subjects, Syllabus, Colleges, Scope
5. Lecturer/ Assistant Professor of Economics
If you enjoy mentoring and providing academic support to others, you can pursue a career as a lecturer in economics. Students can work as lecturers only after clearing the UGC NET, which is a mandatory qualification. It is an excellent opportunity for those with subject knowledge in economics and wish to build a career in teaching.
Skills Required:
Subject expertise
Research skills
Academic writing
Communication
Top Institutions: IIMs, Delhi School of Economics, JNU, international universities
Average Salary: Rs 1.9 Lakh - 13.4 Lakhs annually.
(Salary Source: Ambitionbox)
Conclusion
Building a career in economics helps you land in a financially fulfilling and intellectually interesting role. Understanding your skills, passion and long-term goals is extremely important for the success of your career. By developing the right skills, pursuing the required education and gaining a relevant experience level, you can carve a niche for yourself.
Frequently Asked Questions (FAQs)
Students who prefer economic courses after 12th without maths can pursue the following courses:
BA in Economics
BA in Business Economics
BA in Economic Policy and Public Administration
Skilled Indian economic graduates with global certifications like CFA or masters from top tier institutions can find great opportunities in international organisations such as the World Bank, UN, OECD, and global banks.
After completing a degree in economics, students can pursue several job opportunities in the government sector, including:
Indian Economic Services (IES)
RBI Grade B Officer
UPSC Civil Services (IAS, IFS)
Research Officer in NITI Aayog
Economic Advisor roles in different ministries
The economist jobs salary in India differs with roles and experience. For instance, a professional working in the role of an economist in India earns around Rs 4.4 Lakhs - Rs. 38 Lakhs for 1 to 12 years of experience in the field of economics.
(Salary Source: Ambitionbox)
The highest-paying jobs in the discipline of economics are listed below:
Economist
Investment banker
Actuary
Professor in Economics
Financial analyst, and more