The human mind has always been drawn to art, culture and humanities. Amongst the humanities, it is subjects like English and economics that are most coveted. Hence, it is obvious that getting an admission to these courses is no child's play. Coming out of this course with flying colours is another challenge in itself.
Now if you are amongst those who have done justice to their field of study and have a decent academic record in economics, then the sky is your limit in terms of professional success. This article explores some of the career opportunities that are available for students with a graduate or postgraduate degree in commerce. Thus, if you are a student of economics, or know someone who is, go ahead and make the most out of this article.
Executive consultants, economists and economic advisers are roles that are available in any consultancy. These roles are amongst the highest paid jobs in a consultancy and are available to students of economics who have a flair for numbers and figures. If you are someone who is looking for a career where you can be self-employed, then this is the career for you.
The ideal course of action here would be to start off as a junior working under some senior (who is an established name in this field) and then set-up your own consultancy after you have gained enough experience and built the necessary connections.
2. Corporate Law
Technically speaking, any graduate is eligible to pursue a course in LLB (corporate) and make a career out of it. However, students from the economics background have an upper edge over that of others. This is because the fundamentals of corporate law are similar to that of economics and if your foundations are strong, this is one career where you are going to shine.
3. Government Jobs
Questions pertaining to economics form an essential part of the question paper for exams to organisations like the Reserve Bank of India, UPSC and for entrance exams to a number of PSUs. Thus, if you have a degree in economics, acing examinations like this will be easy.
If you are interested in getting a job in the government sector, you can also try for the Indian Economic Services. Jobs in this sector provide enormous amount of social security.
4. Economic Journalism
The main job role here would be to study and analyse the economic situation of the world. To analyse your ideas and describe your insights on the global and local economic scene and to bring the same to the notice of the general public would be your primary duty.
Needless to say that apart from a keen understanding of the concepts of economics, this job requires you be good at expressing your ideas (both in a verbal medium as well as through written communication).
5. Think Tank
In the Indian scenario, there are a number of organisations that work to evaluate economic issues and offer solutions to existing economic problems. Having a degree in economics makes you eligible for securing a job in think tanks such as Centre of Policy Research, Niti Ayog and Department of Industrial Policy and Promotion.
The combination of mathematics, statistics and economics is a royal one. If you are someone who has clubbed either of these two subjects with economics in your college days, then you can happily pursue a career as a statistician.
Not only will you be able to play with numbers and statistical figures for the rest of your life, but you will also be paid handsomely for the same. If you want to pursue a government job as a statistician from the economics background, you can consider appearing for the Indian Statistical Service Exam.
While planning for any project, proper monetary planning is necessary for the appropriate deployment of funds. A team comprising of a group of individuals with a firm understanding of economics, finance and audit is required for this.
With a degree in economics you can consider pursuing a career in this regard. The major attraction of this field is the fact that often this gives you the option to work from home for a major span of your career.
This is a career option that you can consider only if you have a master's degree or a PhD in this field. In case you have experience teaching students at any level it is an added advantage. Because of the sheer scope in the field of economics, there is a huge number of students studying the subject and an acute dearth of teachers in this field.
Thus, if you have good academic records and the required qualification, do not hesitate to enter this noble profession.
9. Financial Analyst
Irrespective of whether it is an MNC or a start-up, any firm will require a team of dedicated financial analysts who will be taking major decisions pertaining to the company's monetary dealing. Things like taking care of the company's investments and loans, paying money to employees and ensuring that the stakeholders get their due are the responsibilities of financial analysts.
This is one of the most coveted roles in any organisation and brings along a huge bag of responsibilities. In companies like Bain & Co, EY and Deloitte, financial analysts are the people who take away the fattest of pay packages.
10. Investment Banker
This is one profession that has been idolised by Bollywood. Keeping that aside and looking at it from a general man's perspective, we still see it as one of the highest paying jobs. In fact, if you are from the field of humanities and you want to pursue a high paying job in a foreign land, the career of an investment banker might be just the perfect one for you.
There are enormous opportunities in this field (both in India as well as abroad) and the same is expected to grow exponentially in the coming years.