Prospect of studing economics honours
Answer (1)
11th Mar, 2019
Hello.
Here are the fields or domains that a person can work
1. Masters In Economics Or Finance/An MBA
A masters degree or an MBA, right after an economics undergraduate is a great way to pave a path for a successful career. A higher education degree would enable you to get high paying jobs, particularly in MNCs and KPOs in the private sector.
The average starting salary for MBAs in India: Rs 19.61 lakhs per year.
2. Consultancy
Consultancy firms offer economic graduates various opportunities like working as an executive consultant, an economist or even an economic advisor. Plus, these jobs are considered amongst some of the highest paying jobs out there.
The average starting salary for Consultants in India: Rs 7 lakhs per year.
3. Government Jobs
Various job positions open up after an Economics degree, in the government sector. The Indian Economic Services, the Reserve Bank of India and PSUs offer jobs with social prestige and a brilliant start to your career.
The average starting salary for Union Public Service Commission: Rs 4.2 lakhs per year
4. Ph.D. And Research
A Ph.D. in Economics after your undergraduate can provide you with a wonderful platform to apply for high-level research and teaching jobs, not to forget the high pay scales that come along with them! And it makes perfect sense for you if you feel passionate about the subject or feels inspired by people like Amartya Sen.
The average starting salary for Research Scientist in India: Rs 6.1 lakhs per year
5. Corporate Law
If Corporate Law is your area of passion, then it is not too late if you have an economics degree. A Bachelor in Economics followed by an LLB and you are set to become the next Harvey Specter from Suits! You know you've thought of it - well, it's actually attainable.
The average starting salary for Corporate Lawyers: Rs 7.5 lakhs per year
6. Economic Journalism
A flair for writing along with an Economics degree can take you places in the field of economic journalism. Basically, the job would involve studying and analyzing economic phenomenon world over and thereby drawing insights and inferences and have your ideas published in journals and magazines.
The average starting salary for Journalists in India: Rs 3.5 lakhs per year
7. Think Tanks
An undergraduate in economics gives you the perfect base for becoming a part of a think tank! These are bodies that primarily operate for the analysis of economic issues and offering recommendations. Niti Ayog, Department of Industrial Policy and Promotion and Center of Policy Research are among the top think tanks of India where you could apply.
8. Analysis
Financial or Investment analysis is the typical job profiles for an economics graduate. And if you have a good score in your undergraduate then you have excellent chances of getting to work for a big MNC like Deloitte, Bain & Co. or McKinsey!
The average starting salary for Financial Analysts in India: Rs 3.3 lakhs per year
9. Statistician
Loved statistics, figures and analysis during your undergraduate in Economics? Then applying to firms for the position of a statistician is the perfect career path for you to pick after graduation!
The average starting salary for Statistician: Rs 3.7 lakhs per year
10. Banking and Financial Services
There is always a dearth of economists in the banking and financial services industry, you just need to be smart while applying and showcase your skills and confidence at the interviews and the job shall be yours.
The average starting salary for Investment Bankers in India: Rs 9 lakhs per year
11. Professor
An economics degree gives you the requisite background to apply for teaching jobs at schools and universities. Furthermore, a basic teaching course along with further education would be a definite plus for your career prospects as a teacher!
The average salary for Professors in India: Rs 9.1 lakhs per year
Hope this is helpful.
Good luck.
Here are the fields or domains that a person can work
1. Masters In Economics Or Finance/An MBA
A masters degree or an MBA, right after an economics undergraduate is a great way to pave a path for a successful career. A higher education degree would enable you to get high paying jobs, particularly in MNCs and KPOs in the private sector.
The average starting salary for MBAs in India: Rs 19.61 lakhs per year.
2. Consultancy
Consultancy firms offer economic graduates various opportunities like working as an executive consultant, an economist or even an economic advisor. Plus, these jobs are considered amongst some of the highest paying jobs out there.
The average starting salary for Consultants in India: Rs 7 lakhs per year.
3. Government Jobs
Various job positions open up after an Economics degree, in the government sector. The Indian Economic Services, the Reserve Bank of India and PSUs offer jobs with social prestige and a brilliant start to your career.
The average starting salary for Union Public Service Commission: Rs 4.2 lakhs per year
4. Ph.D. And Research
A Ph.D. in Economics after your undergraduate can provide you with a wonderful platform to apply for high-level research and teaching jobs, not to forget the high pay scales that come along with them! And it makes perfect sense for you if you feel passionate about the subject or feels inspired by people like Amartya Sen.
The average starting salary for Research Scientist in India: Rs 6.1 lakhs per year
5. Corporate Law
If Corporate Law is your area of passion, then it is not too late if you have an economics degree. A Bachelor in Economics followed by an LLB and you are set to become the next Harvey Specter from Suits! You know you've thought of it - well, it's actually attainable.
The average starting salary for Corporate Lawyers: Rs 7.5 lakhs per year
6. Economic Journalism
A flair for writing along with an Economics degree can take you places in the field of economic journalism. Basically, the job would involve studying and analyzing economic phenomenon world over and thereby drawing insights and inferences and have your ideas published in journals and magazines.
The average starting salary for Journalists in India: Rs 3.5 lakhs per year
7. Think Tanks
An undergraduate in economics gives you the perfect base for becoming a part of a think tank! These are bodies that primarily operate for the analysis of economic issues and offering recommendations. Niti Ayog, Department of Industrial Policy and Promotion and Center of Policy Research are among the top think tanks of India where you could apply.
8. Analysis
Financial or Investment analysis is the typical job profiles for an economics graduate. And if you have a good score in your undergraduate then you have excellent chances of getting to work for a big MNC like Deloitte, Bain & Co. or McKinsey!
The average starting salary for Financial Analysts in India: Rs 3.3 lakhs per year
9. Statistician
Loved statistics, figures and analysis during your undergraduate in Economics? Then applying to firms for the position of a statistician is the perfect career path for you to pick after graduation!
The average starting salary for Statistician: Rs 3.7 lakhs per year
10. Banking and Financial Services
There is always a dearth of economists in the banking and financial services industry, you just need to be smart while applying and showcase your skills and confidence at the interviews and the job shall be yours.
The average starting salary for Investment Bankers in India: Rs 9 lakhs per year
11. Professor
An economics degree gives you the requisite background to apply for teaching jobs at schools and universities. Furthermore, a basic teaching course along with further education would be a definite plus for your career prospects as a teacher!
The average salary for Professors in India: Rs 9.1 lakhs per year
Hope this is helpful.
Good luck.
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