Job Potential
Some people think that the only employment opportunities for economics majors are with government agencies, where they will spend their days analyzing things like inflation, unemployment rates, interest rates, and tax rates. And though it’s true that some economics majors do go on to do these things, most choose not to. The truth is, the mathematical and analytical skills that economics majors develop in school are extremely valuable in just about every workplace, making economics one of the most versatile majors out there.
Most economics majors find employment in the business and finance industries, because their familiarity with economic laws and principles is directly applicable to their jobs. Graduates from economics programs are able to forecast financial trends and consumer spending habits, which helps organizations make smart financial, marketing, and product-related decisions.
If you’re interested in economics but you’re turned off by the idea of working in business or finance, we have good news for you as well. The analytical and mathematical skills that economics majors develop in school are applicable to many types of jobs in other areas. Some graduates spend their careers studying things like crime rates, mortality, marriage, divorce, and other types of demographic and behavioral data. This information can be used for many different purposes, including marketing efforts and urban planning.
Ultimately, economics majors have a greater number of career options than graduates from most other programs, and there are positions in virtually every industry that are well-suited to the education that a degree in economics provides. Remember, employers hire people, not degrees, and your career will only be limited by your own ambition, imagination, and interests.
The Hamilton Project's Major Decisions, Part 1 (derived from American Community Surveys, 2009–2012) found that economics degree holders far exceeded the mean of other majors' median lifetime earnings.
Note that some emerging occupations such as sustainability consultant/analyst or renewable energy analyst, or the broad range of consultant occupations, are not listed separately by the BLS. They typicall fall under broader management analyst and related occupations.