High Paying Career Options for Economics Degree Holders
Individuals who obtain a degree in economics are qualified for a number of high-paying jobs. Many of these career options are found in the financial and business industries. Below, we will discuss five different high-paying careers by focusing on what each job entails and how much salary is associated with each job.
|Job Title||Median Salary (2016)*||Job Growth (2016-2026)*|
|Personal Financial Advisor||$90,530||14%|
Source: *U.S. Bureau of Labor Statistics
Find schools that offer these popular programs
Information about High Paying Jobs with an Economics Degree
A degree in economics would allow you to find work as an economist, typically for the government, research and development, or some sort of consulting service. Economists are responsible for conducting research on various economic issues and providing their analysis so they can forecast trends in the market. With a bachelor's degree in economics, you would be qualified for entry-level positions and pursuing a graduate degree in economics would open up a number of other options. In 2016, economists made a median annual salary of $101,050, which is significantly higher than the national median of $37,040 for all occupations.
A budget analyst is employed by an organization or business and is responsible for helping the company develop and manage an annual budget. They may work closely with other company executives and managers in order to understand the financial needs of each department, as well as the expenditures. An economics bachelor's degree would be adequate preparation for a career as a budget analyst, though a certification may also be helpful for those who are working in the government. These professionals made a median salary of $73,840, though it is possible to make significantly more while working in this field as the top ten percent earned over $111,460 in 2016.
Top executives work in a number of different capacities for companies and organizations, like as operations managers, executive directors, and CEOs. While their responsibilities and job duties may vary depending on their specific role, top executives are often in charge of setting organizational goals, working with other company executives, analyzing sales and financial reports, and overseeing the daily operations of a company. With an economics degree and relevant work experience, you would be qualified for a position as a top executive. In 2016, top executives made a median annual salary of $103,950 and there is the potential to earn even more depending on your role, as the top ten percent of CEOs made over $208,000 in 2016.
Personal Financial Advisor
As a personal financial advisor, you will work closely with clients who are seeking financial advice in regard to their investments and savings. You may help them set up savings funds for retirement or for their children's future education, manage their investment portfolios, and navigate tax season. A degree in economics would provide an individual with a good foundation for a career as a personal financial advisor and certifications or licenses may provide an additional advantage. These advisors made a median annual salary of $90,530 in 2016, which is also much higher than the national median of $37,040 for all occupations.
Financial managers play a key role in businesses and organizations, as they are in charge of overseeing all of the business's financial activities and making important financial decisions. For example, a financial manager would be responsible for managing the finance department and all of its employees, producing financial reports and statements, making sure budgets are set and abided by, and reporting to top executives. Financial managers typically have a bachelor's degree in a relevant field, like economics, along with significant work experience in a related role. In 2016, financial managers earned a median annual salary of $121,750.