subject: Majors In Economics Can Open Doors To A Fantastic Career Ahead [print this page] People with Masters in economics get a wider choice when it comes to job opportunities. An individual may choose to work as an Economic Consultant at a consulting firm or even Research and development Companies. The primary task of the individual will be to provide best advice to the company as far as business strategies are concerned.
Most of the people who do pursue a graduate diploma in economics end up at law schools. As an economic lawyer, an individual gets an opportunity to influence many decisions of the company. Hence, it is an extremely responsible position. The individual also has to tackle with a number of government agencies as well as firms. Many people also choose to work directly with different government agencies with the medium of non-profit organizations.
Earning opportunities for a Economics Degree Holder
There is no doubt that an individual with graduate diploma in economics would start with a slightly lesser pay package as compared to someone who has a masters in economics. Companies and firms around the world prefer hiring individuals who have completed their masters in this subject. However, this does not mean that there are no job opportunities for individuals holding a graduate degree.
Every job vacancy has its own requirements. Incase a person is not able to enroll in a masters degree due to some reason; he/she can always opt for a post graduate diploma in economics. As compared to a masters degree, the post graduate diploma will only consume one year of the student.
As far as pay packages are concerned, a person with graduate diploma in economics can expect an average annual income of around $48,000. This is usually a package that is offered to a fresher. If a person happens to hold a business economics degree, the package may go upto $55,000 per annum for starters. However, if you happen to be a Masters in economics, your starting pay package can be a whooping $100,000 per annum.
Choice of Employment
Economists play a vital role in public sector as well as private sector. Hence, the choice remains open for degree holders. It has been observed that private sectors tend to offer a good starting package to economists as compared to government agencies and other public sector firms. The best packages are offered by International agencies. For instance organizations like International Monetary Fund, World Bank and United Nations offer economists some of the most tempting packages. These organizations are also global in their structure and hence hire economists from different parts of the world.
How to become a good economist?
People who have a habit of paying attention to every single detail usually go onto become successful economists. In the field of economics, the individual has to spend most of time analyzing data and other material. Hence, a keen eye for details matters a lot.
