Top Jobs After an MSc in Economics: A Complete Guide for Your Job Hunt

A master’s degree in economics offers numerous benefits, providing graduates with a strong foundation in analytical thinking, quantitative skills, and a deep understanding of economic principles. This advanced education equips individuals to navigate complex economic environments and make data-driven decisions, essential in today’s fast-paced job market. Graduates gain access to an array of career opportunities, including roles such as investment banker, research economist, and financial analyst, which are critical in influencing business strategies and public policies. This blog delves into the promising jobs after an MSc in Economics, highlighting key roles, their unique responsibilities and salaries, and top companies hiring economics graduates.

List of Jobs After MSc in Economics with Salary

A master’s in economics opens up a range of opportunities, from data analyst to stockbroker. In this section, check out some successful career options after masters in economics:

1. Investment Banker

Investment banking is one of the most sought-after careers after MSc in Economics. Investment bankers provide consulting services for acquisitions and mergers of financial assets. They assist governmental bodies and companies in increasing their capital value by issuing bonds and stocks. The job demands evaluating economic conditions, financial data, and market trends to build strategies. The investment banker’s role acts as a bridge between businesses and investors looking for funds, to ensure smooth capital flow in financial markets.

i. Skills Required

Here are the essential skills required to get a job as an investment banker:

• Proficiency in analyzing financial statements, valuation models, and market trends to assess investment opportunities.
• Strong mathematical and statistical skills to perform complex calculations and financial modeling.
• In-depth knowledge of capital markets, investment products, and the regulatory environment.
• Ability to convey complex financial information clearly and persuasively to clients and stakeholders.
• Strong negotiation abilities to facilitate deals and manage client expectations effectively.
• Meticulousness in reviewing financial documents and ensuring accuracy in analyses and reports.

ii. Average Salary Range: ₹8 LPA to ₹25 LPA

2. Research Economist

A research economist delves into specific economic problems and gathers data to help companies make informed business decisions. They observe the production and distribution of services and goods, evaluate economic problems, and help government bodies understand how policies can affect the country’s economy. 

As a research economist, you will investigate specific economic issues, gather and analyze data, and develop economic models to forecast trends and evaluate policy impacts. Your work may involve studying labor markets, international trade, monetary policy, etc.

i. Skills Required

Here are the essential skills required to get a job as a research economist:

• Proficiency in applying advanced-level economic theories and quantitative methods to analyze data effectively.
• Proficiency in programming languages like Python, STATA, and MATLAB for data manipulation and analysis.
• In-depth understanding of research methodologies and the ability to design and implement effective data collection strategies.
• Ability to interpret and articulate intricate economic theories and findings to diverse audiences.
• Up-to-date knowledge of contemporary economic challenges and ongoing policy discussions to inform research.
• Proven experience in writing scholarly articles and successfully publishing research in academic journals.
• Strong ability to present research results effectively, using visual aids and clear narratives to engage and inform stakeholders.

ii. Average Salary Range: ₹6 LPA to ₹30 LPA

3. Public Policy Advisor

A public policy advisor formulates public policies by evaluating the impacts caused by the policies. They help organizational and governmental bodies with choosing the right policies and conducting economic research. Their primary responsibilities include analyzing data, working with stakeholders, and improving public policies and regulations for economic welfare.

i. Skills Required  

Here are the essential skills required to get a job as a public policy advisor:

• Strong ability to analyze complex data, policies, and legislation to evaluate their impact and effectiveness.
• Expertise in conducting thorough research to support policy recommendations and decisions.
• Excellent written and verbal communication skills to articulate policy positions and engage with stakeholders effectively.
• Knowledge of governmental structures, processes, and regulatory frameworks at local, state, and national levels.
• Capability to assess various perspectives, identify potential challenges, and develop innovative solutions.
• Skills in building and maintaining relationships with diverse stakeholders, including government officials, community organizations, and advocacy groups.
• Proficiency in negotiating and advocating for policy positions to influence decision-making processes.

ii. Average Salary Range: ₹8 LPA to ₹20 LPA

4. Financial Analyst

Financial analysts assist organizations in making informed investment decisions and optimizing financial performance. The key responsibilities include evaluating economic trends, analyzing company financials, and assessing market conditions to provide investment recommendations and financial forecasts. Moreover, financial analysts often specialize in specific sectors or types of investments, such as equity, fixed income, or alternative investments.

i. Skills Required 

Here are the essential skills required to get a job as a financial analyst:

• Advanced knowledge of financial modeling and valuation techniques.
• Proficiency in financial analysis software like Excel.
• Strong understanding of accounting principles and financial statements.
• Knowledge of investment theories and portfolio management.
• Ability to interpret and communicate complex financial data.
• Understanding of regulatory frameworks and compliance issues.

ii. Average Salary Range: ₹6 LPA to ₹35 LPA

5. Stockbroker

Stockbrokers act as intermediaries between investors and the stock market, facilitating the buying and selling of securities. This role represents one of the most promising job opportunities after MSc in Economics for those aspiring to build expertise in financial markets. As a stockbroker, key responsibilities include analyzing market trends, providing investment advice to clients, and executing trades on their behalf. Staying updated with economic news and company performance is essential for making informed recommendations.

i. Skills Required 

Here are the essential skills required to get a job as a stockbroker:

• A comprehensive understanding of various financial markets, investment vehicles, and economic indicators.
• Expertise in evaluating market trends and company performance to make informed investment decisions.
• Ability to convey complex financial concepts and foster strong relationships with clients.
• Proficiency in persuading clients and negotiating favorable terms to facilitate transactions.
• Strong skills in managing client relationships, understanding their needs, and providing tailored investment advice.

ii. Average Salary Range: ₹5 LPA to ₹15 LPA

Business analysts evaluate financial processes and requirements to devise impactful solutions. They analyze data, identify areas for improvement, and generate reports while collaborating with stakeholders to define project objectives and ensure successful execution. Their responsibilities encompass gathering data, creating comprehensive business and functional requirements, and supporting the implementation of new systems or processes.

i. Skills Required

Here are the essential skills required to get a job as a business analyst:

• Strong analytical and problem-solving abilities
• Proficiency in tools like Excel, SQL, and Tableau for data manipulation and visualization.
• Strong analytical and problem-solving abilities to assess data and identify solutions effectively.
• Knowledge of business process modeling techniques to document and improve business processes.
• Excellent communication and stakeholder management skills to engage with various stakeholders and convey information.
• Familiarity with frameworks that guide project execution and delivery.

ii. Average Salary Range: ₹5 LPA to ₹35 LPA

6. Data Analyst 

Data analysts help organizations make data-driven decisions by interpreting complex datasets. In this role, responsibilities include collecting, processing, and analyzing large sets of data to identify trends, patterns, and insights that inform business strategies. 

As one of the most lucrative jobs after MSc Economics, the work involves utilizing statistical techniques, creating data visualizations, and developing predictive models. Data analysts frequently collaborate with various departments to provide actionable insights that drive business growth and efficiency. Additionally, pursuing a data science course with a placement can help you get the right training and skills to apply for this job role.

i. Skills Required

Here are the essential skills required to get a job as a data analyst:

• Proficiency in data analysis tools and programming languages like Python, R, and SQL for data manipulation and analysis.
• Strong analytical skills to interpret data, identify trends, and provide actionable insights.
• Ability to create clear and effective visual representations of data using tools like Tableau and Power BI.
• Ability to clean, preprocess, and manipulate large datasets.
• Strong problem-solving skills to approach complex problems methodically and develop data-driven solutions.
• Ensuring accuracy and precision in data analysis and reporting.

ii. Average Salary Range: ₹4 LPA to ₹25 LPA

7. Economics Teacher/PGT Economics

A master’s degree in economics can help you enter the teaching field as a school teacher or a graduate professor. This career path is ideal for MSc Economics graduates with a passion for education and the ability to communicate complex economic concepts. As an economics teacher or PGT (Post Graduate Teacher) in Economics, responsibilities include designing and delivering engaging lessons on various economic theories, principles, and events. The role also involves creating curriculum materials, assessing student performance, and often participating in extracurricular activities related to economics. Opportunities may be available in secondary schools, colleges, or universities based on qualifications and career goals.

i. Skills Required

Here are some of the essential skills required to get a job as an economics teacher:

• Subject mastery of economic theories, principles, and current trends.
• Ability to explain complex economic concepts clearly and effectively.
• Skill in designing comprehensive and engaging lesson plans.
• Proficiency in evaluating student performance and providing constructive feedback.
• Knowledge of teaching methods that cater to diverse learning styles.
• Ability to maintain an organized and focused learning environment.
• Flexibility in adjusting teaching methods to meet student needs and curriculum changes.

ii. Average Salary Range: ₹4 LPA to ₹12 LPA

8. RBI Grade B DEPR 

Pursuing a career as an RBI Grade B officer in the Department of Economic and Policy Research (DEPR) is one of the most prestigious and rewarding jobs after MSc in Economics. This role offers the opportunity to directly influence national economic policy and contribute to crucial research that shapes India’s financial landscape. As an RBI Grade B officer, you will be involved in economic research, policy analysis, and providing critical inputs for monetary policy decisions.

To apply for the RBI Grade B DEPR position, candidates must monitor the official RBI website for notifications regarding the recruitment process. The selection process typically includes a written examination followed by an interview. 

i. Skills Required

Here are some of the essential skills required to apply for a job as an RBI grade B officer:

• Strong analytical and research skills to conduct in-depth economic analysis and research.
• Proficiency in econometric techniques and statistical software like R, SAS, or Stata for data analysis.
• Excellent writing skills to craft clear and concise policy briefs and research papers.
• Knowledge of monetary policy, fiscal policy, and financial markets.
• Ability to interpret and analyze complex economic data and trends.

ii. Average Salary Range: ₹5 LPA to ₹14 LPA

9. Trade Analyst

Trade analysts analyze global trade patterns, market trends, and economic policies to inform business strategies and government trade policies. The trade analyst researches and analyzes trade data, assesses the impact of trade agreements and tariffs, and recommends market entry strategies for businesses. The work may involve forecasting trade flows, conducting risk assessments, etc.

i. Skills Required

Here are some of the essays how the skills required to get a job as a trade analyst:

• Strong understanding of international trade practices.
• Proficiency in data analysis and statistical software.
• Knowledge of global economic trends and geopolitical factors.
• Familiarity with trade agreements, tariffs, and customs regulations.
• Excellent research and report-writing abilities.
• Analytical skills to interpret complex trade data and market trends.
• Understanding of supply chain management and logistics.
• Cultural awareness and ability to work in diverse international contexts.

ii. Average Salary Range: ₹4 LPA to ₹25 LPA

10. Investment Analyst

Investment analysts provide in-depth research and analysis to guide investment decisions. This job position entails researching and evaluating investment opportunities across various asset classes, including stocks, bonds, and alternative investments. The primary responsibilities will include analyzing financial statements, assessing industry trends, and developing financial models to forecast company performance. 

i. Skills Required

Here are some of the essential Skills required to get a job as an investment analyst:

• Advanced financial modeling and valuation techniques.
• Strong understanding of financial markets and investment theories.
• Certification in a personal finance course is beneficial.
• Proficiency in financial analysis software and databases.
• Excellent analytical and quantitative skills.
• Ability to synthesize complex financial information.
• Knowledge of accounting principles and financial statement analysis.
• Strong written and verbal communication abilities.

ii. Average Salary Range: ₹6 LPA to ₹50 LPA

11. Management Consultant

Management consultants provide expert advice to organizations to improve their performance, solve complex business problems, and develop strategies for growth. As a management consultant, you will work on a variety of projects across different industries, analyzing business processes, market trends, and financial data to provide strategic recommendations. Your role will involve conducting research, performing data analysis, and collaborating with client teams to implement solutions. 

To start a job after MSc in Economics, gaining relevant experience through internships or entry-level roles in consulting firms, financial institutions, or research organizations is crucial. Further education, such as an MBA or a specialized certification in management consulting, can enhance credentials and broaden business knowledge.

i. Skills Required

Here are some of the essential skills required to get a job as a management consultant:

• Ability to analyze complex data, identify trends, and derive actionable insights.
• Strong capability to approach problems methodically and develop effective solutions.
• Excellent verbal and written communication skills to convey ideas clearly and persuasively.
• Understanding of various industries, market trends, and business strategies.
• Ability to manage time, resources, and teams to ensure project success.
• Building strong client relationships and working effectively in teams.
• Familiarity with tools like Excel, PowerPoint, and data analysis software.

ii. Average Salary Range: ₹8 LPA to ₹40 LPA

12. Economic Analyst

Economic analysts work with governments, businesses, or financial institutions, helping them make informed decisions by interpreting complex data and predicting economic outcomes. They create reports, develop models, and offer recommendations on economic policies or business strategies.

i. Required Skills

Here are the skills required to pursue economic analyst jobs:

• Strong understanding of economic theories and principles, with the ability to apply them to real-world situations.
• Proficiency in data analysis and statistical software, such as Excel, R, or Stata, to analyze large datasets and produce meaningful insights.
• Ability to interpret complex economic data and present findings in a clear and concise manner for stakeholders.
• Excellent research skills to gather and assess relevant economic information from reliable sources.
• Strong written and verbal business communication skills to effectively convey economic concepts and analysis to both technical and non-technical audiences.
• Ability to work with large amounts of data and identify trends that can influence economic strategies and policies.

ii. Average Salary Range: ₹5 LPA – ₹10 LPA

13. Financial Planner

The field of finance offers some of the most lucrative jobs after MSc in economics. financial planner helps clients create strategies to manage their finances effectively, focusing on areas like investments, retirement planning, and tax management. They analyze financial data, assess clients’ needs, and provide personalized advice to achieve financial goals. Financial planners work closely with individuals and organizations, ensuring that financial plans are tailored to each client’s unique situation. 

i. Required Skills

Here are the skills required to pursue financial planner jobs:

• Proficiency in financial planning software, such as RedVision, FinEdge, or Arthayantra, to create and analyze financial plans.
• Strong understanding of tax laws and regulations to optimize clients’ tax liabilities within legal frameworks.
• A certification course in personal finance 101 can greatly enhance your prospects for securing lucrative positions in financial planning.
• Ability to analyze investment options using tools like Value Research or Moneycontrol to recommend the best strategies for clients.
• Excellent communication skills to explain complex financial concepts clearly to clients.
• Knowledge of estate planning tools and software to help clients plan for the transfer of assets.
• Understanding of insurance products and the ability to incorporate them into a comprehensive financial plan.

ii. Average Salary Range: ₹4 LPA – ₹9 LPA

14. Market Research Analyst

A market research analyst studies market conditions to help businesses understand what products or services customers want. They collect and analyze data on consumer preferences, competitors, and industry trends to identify opportunities and challenges in the market. 

Furthermore, they use surveys, focus groups, and other research methods, they gather insights that guide product development, marketing strategies, and business decisions. 

i. Required Skills

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

• Proficiency in statistical software and tools like SPSS, SAS, or R for analyzing market data.
• Experience with survey tools such as Qualtrics or Google Forms to design and conduct market surveys.
• Strong data analysis skills to interpret consumer behavior and market trends using tools like Tableau.
• Knowledge of database management systems such as Oracle to manage and query large datasets effectively.
• Ability to conduct competitive analysis using platforms like SEMrush or SimilarWeb to understand market positioning.

ii. Average Salary Range: ₹4 LPA – ₹7 LPA

15. Business Consultant

The field of consulting offers some of the most lucrative careers after MSc economics. A business consultant provides expert advice to help businesses improve their operations, solve problems, and achieve their goals. They analyze a company’s current practices, identify areas for improvement, and develop strategies to enhance efficiency, profitability, and growth. 

Business Consultants work closely with management to implement changes, such as optimizing processes, reducing costs, or entering new markets. They may specialize in specific areas like marketing, finance, or human resources. 

i. Required Skills

Here are the skills required to pursue business consultant jobs:

• Proficiency in business analysis tools like SWOT Analysis and Porter’s Five Forces to evaluate business environments.
• Experience with financial modeling software such as QuickBooks to analyze financial data and forecasts.
• Strong understanding of project management tools like Microsoft Project or Trello for planning and executing business strategies.
• Ability to conduct market analysis using tools like PESTLE Analysis to assess external factors affecting the business.
• Knowledge of CRM software like Salesforce to analyze customer data and improve client relationships.

ii. Average Salary Range: ₹5 LPA – ₹10 LPA

16. Statistical Analyst

A statistical analyst uses statistical methods to collect, analyze, and interpret data to help organizations make informed decisions. They work with large datasets, applying techniques like regression analysis, hypothesis testing, and probability modeling to uncover trends and patterns. 

Statistical analysts create reports and visualizations to present their findings in a clear and actionable way. They work in various fields, including finance, healthcare, marketing, and government, where data-driven insights are essential.

i. Required Skills

Here are the skills required to pursue statistical analyst jobs:

• Experience with statistical software, such as SPSS, STATA, or Minitab for performing complex analyses.
• Strong knowledge of statistical methods and techniques, including regression analysis, hypothesis testing, and probability theory.
• Ability to perform data cleaning and preprocessing using tools like Excel to ensure data quality and accuracy.
• Strong foundation in mathematics, including calculus and linear algebra, to support statistical analysis.
• Capability to identify trends, patterns, and anomalies in data to solve complex problems.

ii. Average Salary Range: ₹5 LPA – ₹9 LPA

17. Risk Analyst

Risk analysts have one of the best jobs after MSc in economics. They are responsible for assessing potential risks that could impact an organization’s financial health, operations, or reputation. Furthermore, they analyze data, market trends, and financial documents to identify possible threats and opportunities. 

Risk analysts evaluate the likelihood and impact of these risks and develop strategies to mitigate them. They create detailed reports and provide recommendations to help the organization make informed decisions and minimize potential losses. 

i. Required Skills

Here are the skills required to pursue risk analyst jobs:

• Proficiency in risk management software, such as RiskWatch or SAS Risk Management for assessing and monitoring risks.
• Experience with financial analysis tools like Excel and Bloomberg Terminal to analyze financial data and identify risk factors.
• Strong understanding of risk assessment methodologies, including Value at Risk (VaR) and stress testing.
• Ability to perform quantitative analysis using statistical software like R to model and predict risk scenarios.
• Knowledge of regulatory requirements related to risk management to ensure compliance with industry standards.
• Excellent analytical skills to evaluate risk data and develop effective risk mitigation strategies.

ii. Average Salary Range: ₹6 LPA – ₹11 LPA

18. Revenue Analyst

A revenue analyst helps an organization maximize its income by analyzing financial data and market trends. They monitor revenue streams, identify patterns, and forecast future earnings based on historical data. 

Revenue analysts assess the effectiveness of pricing strategies, sales performance, and customer behavior to recommend improvements that can boost profitability. They prepare detailed reports and present their findings to management, helping guide business decisions that enhance revenue growth. 

i. Required Skills

Here are the skills required to pursue revenue analyst jobs:

• Proficiency in financial analysis tools like Excel and SQL for managing and analyzing revenue data.
• Experience with revenue management software such as Revinate or Zoho Analytics to track and optimize revenue streams.
• Strong understanding of financial modeling and forecasting techniques to predict revenue trends and performance.
• Ability to analyze sales and financial data to identify patterns, opportunities, and areas for improvement.
• Knowledge of business intelligence tools such as Power BI to create detailed reports and visualizations.

ii. Average Salary Range: ₹5 LPA – ₹9 LPA

19. Economic Researcher

The field of research offers some of the most promising career options after masters in economics. An economic researcher studies economic trends, policies, and data to understand how economies function. They collect and analyze information on topics like employment, inflation, trade, and market conditions. 

Using this data, economic researchers identify patterns, make forecasts, and evaluate the impact of economic policies. They often work for governments, universities, think tanks, or private companies, providing insights that help shape economic strategies and decisions. 

i. Required Skills

Here are the skills required to pursue economic researcher jobs:

• Experience with software, such as R, STATA, or SAS for performing data analysis and modeling.
• Experience with econometric tools to model economic relationships and test hypotheses.
• Strong understanding of economic theories and principles to design and conduct relevant research studies.
• Ability to perform data collection and analysis using tools like Excel to manage and interpret large datasets.
• Strong writing skills to produce clear and comprehensive research reports and papers.
• Knowledge of research methodologies, including both qualitative and quantitative approaches to gathering and analyzing data.

ii. Average Salary Range: ₹5 LPA – ₹9 LPA

20. Operations Analyst

An operations analyst is a professional who examines a company’s processes to find ways to improve efficiency. They gather and analyze data to identify problems and suggest solutions. Their goal is to streamline operations, reduce costs, and enhance productivity. 

By reviewing workflows and performance metrics, they help businesses make informed decisions. They also work closely with different departments to implement changes and monitor their effectiveness. In essence, an operations analyst ensures that a company’s day-to-day activities run smoothly and effectively, helping it achieve its goals more efficiently. 

i. Required Skills

Here are the skills required to pursue operations analyst jobs:

• Proficiency in data analysis tools like Excel, SQL, and Python for evaluating operational data and identifying inefficiencies.
• Experience with process improvement methodologies, such as Lean Six Sigma to implement operational enhancements.
• Strong understanding of business operations and supply chain management to optimize processes and resource allocation.
• Ability to use project management software like Microsoft Project or Asana to track and manage operational projects.
• Knowledge of data visualization tools, such as Tableau or Power BI to present insights and performance metrics clearly.
• Excellent problem-solving skills to address operational challenges and develop effective solutions.

ii. Average Salary Range: ₹5 LPA – ₹8 LPA

Top Companies Hiring MSc Economic Graduates

As the global economy becomes increasingly complex, the demand for skilled economics professionals continues to grow. Economics graduates are in high demand in India across many top companies that hire individuals with specialized skills in this field. Let us explore some of the top companies in India that actively offer job opportunities after MSc in economics and the roles they offer.

i. Tata Consultancy Services (TCS):

TCS, a global leader in IT services and consulting, values the analytical skills of economics graduates. They offer roles such as:

• Economic Consultant
• Data Analyst/Scientist
• Business Analyst

ii. Reserve Bank of India (RBI):

India’s central bank offers prestigious positions for economics graduates, including:

• RBI Grade B Officer (DEPR)
• RBI Grade B Officer (DSIM)
• Economic Analyst

iii. Axis Bank:

Axis Bank provides opportunities for economics graduates to apply their skills in the financial sector and offer job openings like:

• Financial Analyst
• Credit Analyst
• Risk Analyst

iv. Capgemini:

This global consulting firm offers roles that allow you to combine your knowledge of economics and business. Here are some of the roles that the Capgemini hires for:

• Financial Analyst
• Risk Analyst
• Strategy Consultant

v. Goldman Sachs:

This leading investment bank values the analytical skills of economics graduates in roles such as:

• Market Research Analyst
• Project Manager
• Investment Banking Analyst

vi. McKinsey & Company:

This management consulting firm offers rewarding roles for economics graduates, such as:

• Quantitative Analyst
• Economic Research Analyst
• Data Analyst

vii. HDFC Bank:

One of India’s largest private banks offers diverse opportunities for economics postgraduates in roles like:

• Treasury Analyst
• Product Manager
• Economic Research Analyst

Conclusion

Graduates in economics can excel in roles such as economists, data analysts, policy advisors, and financial consultants, contributing to the public and private sectors. The analytical and problem-solving skills gained during the course are highly valued, enabling professionals to tackle complex economic challenges. With the increasing demand for financial expertise in today’s globalized world, jobs after MSc in Economics offer a great start to the professional journey. A degree in economics paves the way for lucrative careers in academia, government, international organizations, and the corporate world.

To learn more about the job roles, check out our guide on the best-paying jobs with an economics degree.

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