Jobs for the Major
How this major affects a job search
Unless you've been living under a rock, you know the economy is a pretty hot topic in the news. Hardly a day passes without hearing something about taxes, oil prices, or the national debt. This means that econ majors are in pretty high demand. If you're one of the few people who actually gets the whole production, distribution, supply-demand thing, then you're in luck. These are super valuable concepts to know in business, especially if you want to work in corporate finance or politics.
We obviously don't have the solutions to all of our economy problems. If we did, we'd probably be seeing some progress with stuff like the increasing cost of education, or our much-too-tiny middle class. Admittedly, positive changes don't happen overnight, but specialists in economics help us get there.
Common Career Fields
Accountant. Lots of econ majors end up as accountants. If you major in econ, chances are you'll be spending a lot of time staring at numbers during college. Not-so-coincidentally, that's exactly what CPAs (Certified Public Accountant) do all day long. After college, graduates of economics still need another year of experience working with a CPA firm, and they'll have to pass the CPA exam. Sure, it sounds like a lot of work, but once it's all over and done with, you'll have a snazzy little accounting license and everything.
Actuary. Have you ever heard some facts tossed around and wondered who comes up with those? Say hello to an actuary. These behind-the-scenes math whizzes are in charge of figuring out if the end justifies the means. They basically calculate the long-term risks and costs of big events, while taking into account things like inflation, medical bills, and cost of living. Actuaries can often be heard quoting the great Missy Elliott, "Is it worth it?"
Economist. Ah, an econ major becoming an economist…how original. In case you didn’t know, economists figure out the ongoing market trends and let everyone else in on it…from the government to college professors to you and me. They often work in the government, where they help politicians create economic policy. While you don't technically need grad school to become an economist, most places won't think about hiring you without a Ph.D. in hand.
Financial Analyst. Our friend Sid majored in economics in college for the love of it. However, Sid's not really feelin' the corporate vibe. If you're like Sid, consider a career as a financial analyst. They use their mad number-crunching skills to help out the little guys. Not all of us know which types of bonds or investments to buy without extensive Wikipedia research. Even then, the investment game can be tricky. Financial analysts look at individual's money and come up with the best investment options for them.
Insurance Agent. You can never be too careful—there are all kinds of insurance you can get for the "just in case." It's typical for people to buy medical, car, house, and life insurance. It probably won't be long before there's social network insurance in case you lose all your followers when your Twitter account is accidentally deleted. Oops. Insurance agents help people figure out which insurance plan is best for their clients. Econ majors do well in this line of work since they already know how to analyze numbers, and they can help you figure out if the end justifies the means or if you're totally being swindled.
Mergers and Acquisitions. This is just a fancy-pants term for buying and selling companies. When a big company wants to buy out a small, successful business, a team of M&A specialists rappell down from the ceiling, pen-n-paperwork in hand. Someone with an economics degree would figure out the economy of the sale and scope of the company. Since there are many factors that determine what a company is actually worth (based on stocks, cash flow, debt), econ specialists do their research before the sale of a company, or else they risk buying a house of cards.
Politics. A lot of econ majors head straight to Washington after graduation. There, they get into politics by either writing public policy or advising on it. Their opinions are especially valuable because they're what we like to call informed opinions. That's right, they're backed up by the numbers, and they've spent a bunch of time analyzing the outcomes of several possibilities. Americans can rest easy knowing that the lawmakers of our country actually do consult professional economists.
Current unemployment of the major
6%Percentage of majors who get a higher degree after college
40%Stats obtained from this source.