Top 12 Best Paying Jobs with Economics Degree: A Detailed Guide

Are you considering a degree in economics or already hold one? An economics degree can offer many career options in finance, banking, government, and international trade, among others. It opens up numerous career opportunities across various industries. Economics graduates are presently in high demand due to their strong data analysis abilities, problem-solving skills, and critical thinking. In this blog, we’ll go through the top 12 best-paying jobs with an economics degree, mentioning the skills, average salary, and top hiring companies required for success in each field.

List of Best Paying Jobs With an Economics Degree

This section will explore the best-paying jobs with an economics degree. Each role leverages the abilities developed through your studies in economics. Let’s explore these career options in economics and understand what each position has to offer.

1. Economist

Economists study how resources are produced, distributed, and consumed in economic activities. They analyze data, trends, and financial issues to provide insights and forecasts. Economists work for government agencies, research firms, and large corporations, helping them understand economic conditions and make informed decisions. They might study employment levels, inflation rates, or economic policies to predict future trends. Economists also publish research papers and may also get offered the opportunity to teach at universities.

i. Skills Required

Here are the skills required to pursue economist jobs:

• Ability to interpret complex data and trends to provide meaningful insights and forecasts.
• Strong proficiency in mathematics and statistics to analyze economic data effectively.
• Ability to critically evaluate economic theories and policies for developing economic recommendations.
• Proficiency in economic modeling software and data visualization tools like Tableau for presenting analytical results.

ii. Average Salary Range: ₹5 LPA – ₹30 LPA

iii. Top Hiring Companies: NITI Ayog, Reserve Bank of India, McKinsey Solutions, Deloitte India

2. Market Research Analyst

Market research analysts have one of the best-paying jobs with an economics degree. They gather and examine data about consumers and market conditions. They study what products people want, who will buy them, and at what price. Their findings help companies understand what products to sell, who their customers are, and how to market their products. They conduct surveys, analyze data, and prepare reports to guide business strategies. They also use various digital marketing tools to monitor and forecast marketing and sales trends and measure the effectiveness of marketing programs.

i. Skills Required

Here are the skills required to pursue market research analyst jobs:

• Digital marketing skills in collecting and interpreting consumer data to determine market trends.
• Proficiency in designing and conducting surveys and experiments to gather relevant information.
• Strong analytical abilities to evaluate data and draw actionable conclusions for business strategies.
• Expertise in using market analysis tools and software to interpret data and generate reports.

ii. Average Salary Range: ₹4 LPA – ₹15 LPA

iii. Top Hiring Companies: Nielsen India, Reliance Jio, ITC Limited, Airtel

3. Statistician

Statisticians use mathematical techniques to collect, analyze, and interpret data. They help solve real-world problems in areas, such as business, engineering, healthcare, and government. Statisticians work on preparing surveys, experiments, and opinion polls, and then analyze the results and present their findings. They work to ensure that data is accurately collected and interpreted. Statisticians also develop new statistical methods and advise on the best statistical techniques for specific problems.

i. Skills Required

Here are the skills required to pursue statistician jobs:

• Strong mathematical skills to develop and apply statistical methods for data analysis.
• Proficiency in using statistical software and tools to manage and interpret large datasets.
• Critical thinking for designing experiments and surveys to ensure data accuracy and validity.
• Experience with advanced statistical techniques and programming languages (e.g., R, Python) for complex analyses.

ii. Average Salary Range: ₹4 LPA – ₹20 LPA

iii. Top Hiring Companies: Acies Global, Tata Projects, Infosys, Accenture

Also Read: Career Options After BA Economics

4. Business Analyst

Business analysts evaluate business processes, identify areas for improvement, and implement solutions to enhance efficiency and profitability. The applications of business analytics require you to work closely with stakeholders to understand their needs, develop strategies, and support project management making it among the best-paid jobs in economics.

Business analysts help organizations streamline operations, reduce costs, and improve overall performance. They also document business requirements, conduct feasibility studies, and facilitate communication between business units and IT. You can go through the most commonly asked business analyst job interview questions to improve your chances of getting a business analyst job. 

Note: You can consider pursuing the following short-term courses offered by Internshala to improve your business analytics skills:

• Business analytics course
• Advanced Excel course
• Tally course

i. Skills Required

Here are the skills required to pursue business analyst jobs:

• Proficiency in identifying and documenting business needs and requirements.
• Strong problem-solving and recommendation skills to offer solutions that improve business processes.
• Proficiency in data analysis and modeling to assess the impact of proposed changes.
• Experience with business intelligence tools and software for data visualization and reporting like Excel and Power BI.

ii. Average Salary Range: ₹3 LPA – ₹12 LPA

iii. Top Hiring Companies: Boston Consulting Group (BCG), Amazon, Dentsu International, Bain & Company

5. Research Assistant

Research assistants support economists and other researchers by collecting and analyzing data. They conduct literature reviews, prepare reports, and assist in various research activities. Research assistants are essential in academic, government, and private-sector research projects, helping ensure that research is thorough and accurate. They also assist in the design and implementation of research projects and may co-author research papers. You can prepare a compelling research assistant cover letter to get some of the best-paying jobs with an economics degree.

i. Skills Required

Here are the skills required to pursue research assistant jobs:

• Proficiency in gathering and analyzing data to support research projects.
• Proficiency in conducting literature reviews and synthesizing information from various sources.
• Attention to detail for ensuring the accuracy and reliability of research findings.
• Familiarity with research databases like ScienceDirect and statistical analysis software for conducting thorough research.

ii. Average Salary Range: ₹3 LPA – ₹10 LPA

iii. Top Hiring Companies: Kantar, Delhi University, CSIR, Cube Reach

6. Investment Analyst

Investment analysts evaluate financial data and economic trends to help organizations and individuals make investment decisions. They analyze stocks, bonds, and other securities, prepare investment reports, and provide recommendations on managing investment portfolios. Investment analysts work for banks, investment firms, and other financial institutions. 

They also monitor financial news, meet company executives, and use financial models to predict future performance. A course in financial modeling and valuation can help you land the best-paying jobs in economics as an investment analyst effectively.

i. Skills Required

Here are the skills required to pursue investment analyst jobs:

• Ability to evaluate financial statements and market trends to make informed investment decisions.
• Ability to assess the performance and potential of various investment options.
• Proficiency in financial modeling and valuation techniques for developing investment strategies.
• Experience with investment analysis software and financial forecasting tools like Datarails and Anaplan for accurate evaluations.

ii. Average Salary Range: ₹4 LPA – ₹18 LPA

iii. Top Hiring Companies: Goldman Sachs, HDFC Securities, Kotak Mahindra Life, JP Morgan Chase

7. Accountant

Learning how to get an accounting job can prove to be a significant move for your career after completing your degree in economics. Accountants prepare and examine financial records to ensure accuracy and compliance with laws and regulations. They manage budgets, perform audits, and provide financial advice to organizations and individuals. 

Accountants help businesses track income and expenses, ensuring financial stability and accountability. They also prepare tax returns, develop financial plans, and ensure that financial reporting is accurate and timely. You can prepare an effective accountant cover letter to land a job easily. 

i. Skills Required

Here are the skills required to pursue accountant jobs:

• Deep understanding of accounting principles and practices for accurate financial reporting.
• Attention to detail for preparing and reviewing financial statements and tax returns.
• Proficiency in accounting software and tools for managing financial records and transactions.
• Experience with financial auditing software like Thomson Reuters and SAP with compliance management systems for accurate reporting.

ii. Average Salary Range: ₹3 LPA – ₹15 LPA

iii. Top Hiring Companies: Ernst & Young (EY), KPMG, PricewaterhouseCoopers (PwC), Genpact

8. Financial Consultant

Financial consultants advise clients on financial planning, investment strategies, and risk management. They assess the financial situations of clients, develop personalized plans, and help them achieve their financial goals. Financial consultants work with individuals, families, and businesses to provide comprehensive financial guidance. They also assist clients in retirement planning, estate planning, and wealth management. Many graduates consider this job to be among the top-paying jobs with an economics degree. 

i. Skills Required

Here are the skills required to pursue financial consultant jobs:

• Ability to assess the financial situations of clients and develop personalized financial plans.
• Ability to evaluate investment options and provide strategic advice.
• Proficiency in financial planning software and tools for creating and managing financial plans.
• Experience with portfolio management software like Investplus and financial analysis tools for effective planning.

ii. Average Salary Range: ₹4 LPA – ₹16 LPA

iii. Top Hiring Companies: HDFC Bank, Bajaj Allianz, ICICI Prudential, Axis Bank Limited

9. Actuary

Actuaries use mathematics, statistics, and financial theory to analyze and manage financial risk. They work primarily in the insurance industry, designing policies, assessing risks, and determining pricing strategies. Actuaries play a critical role in helping organizations minimize costs and ensure financial stability. They also develop pension and retirement plans and advise companies on risk management strategies.

i. Skills Required

Here are the skills required to pursue actuary jobs:

• Ability to use mathematical and statistical methods and models to assess and manage financial risks.
• Strong analytical skills to develop and apply models for predicting future financial outcomes.
• Proficiency in actuarial software and tools for analyzing data and calculating risk factors.
• Experience with risk management software and predictive analytics tools like Amazon QuickSight for accurate risk assessment.

ii. Average Salary Range: ₹4 LPA – ₹22 LPA

iii. Top Hiring Companies: HDFC Securities, Populus Management Services, Kapadia & Kochrekar Actuaries And Consultants, Edelweiss Financial Services

10. Insurance Underwriter

Insurance underwriters evaluate insurance applications and determine coverage amounts and premiums. They assess risks, analyze data, and make decisions on policy approvals. Insurance underwriters work for insurance companies, assisting them to ensure that policies are priced appropriately and that risks are managed effectively. They also review policy renewals, recommend policy changes, and ensure that insurance policies are aligned with all regulations.

i. Skills Required

Here are the skills required to pursue insurance underwriter jobs:

• Ability to evaluate insurance applications and determine appropriate coverage and premiums.
• Strong analytical skills to assess risks and make informed decisions about policy approvals.
• Proficiency in using underwriting software and tools for analyzing data and managing insurance policies.
• Familiarity with risk assessment models such as decision trees and insurance analytics platforms for effective underwriting.

ii. Average Salary Range: ₹3 LPA – ₹14 LPA

iii. Top Hiring Companies: Life Insurance Corporation of India (LIC), ICICI Lombard General Insurance, HDFC Ergo General Insurance, Bajaj Allianz General Insurance

11. Tax Advisor

Tax advisors provide guidance on tax-related matters to individuals and businesses. They prepare tax returns, advise on tax planning strategies, and ensure compliance with tax laws and regulations. Tax advisors help clients minimize their tax liabilities and navigate complex tax issues. They also represent clients in tax audits, provide advice on tax-efficient investments, and stay updated on changes in tax legislation. Skilled and experienced tax advisors get some of the best-paying jobs with an economics degree.

i. Skills Required

Here are the skills required to pursue tax advisor jobs:

• Deep understanding of tax laws and regulations for accurate tax advice and preparation.
• Attention to detail to evaluate clients’ financial situations and recommend tax-efficient strategies.
• Proficiency in tax preparation software and tools for managing tax returns and compliance.
• Experience with tax planning software and regulatory compliance tools for accurate and efficient tax management.

ii. Average Salary Range: ₹3 LPA – ₹18 LPA

iii. Top Hiring Companies: Grant Thornton, Taxmann, Vakilsearch, ClearTax.in

12. Compliance Officer

Compliance officers ensure that organizations adhere to legal and regulatory requirements. They develop compliance programs, conduct audits, and provide training to mitigate risks and maintain ethical standards. Compliance officers work in various industries, helping protect organizations from legal and financial penalties. They also investigate compliance violations, develop policies and procedures, and ensure employees understand and comply with regulations.

i. Skills Required

Here are the skills required to pursue compliance officer jobs:

• Proficiency in gathering and analyzing data to support research projects.
• Conducting literature reviews and synthesizing information from various sources.
• Attention to detail for ensuring the accuracy and reliability of research findings.
• Familiarity with research databases like ERIC and statistical analysis software for conducting thorough research.

ii. Average Salary Range: ₹4 LPA – ₹15 LPA

iii. Top Hiring Companies: Wipro Consumer, Flipkart, Kotak Mahindra Bank, InCred

Conclusion

With an economics degree, you can gain a versatile skill set that is highly valued across various industries. You will be well-equipped to analyze complex data, inform strategic decisions, and drive growth in various sectors that affect the economy of the country. By pursuing a career in economics, you’ll find many job opportunities in fields like finance, government, research, and consulting, with strong prospects for growth and competitive compensation. These best-paying jobs with an economics degree not only provide financial stability but also offer you the opportunity to make significant contributions to businesses, governments, and society. 

You can explore opportunities through the best job search apps in India and land your dream job with an economics degree. 

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