Economics : Career areas

In 2008, destinations information collected six months after graduation showed that just over half of all economics graduates were in full-time employment and over a quarter were undertaking further study either as a full-time option or by combining work with study. Only 5.8% of economics graduates were assumed unemployed.

Economics as a degree places emphasis on numerical and problem solving skills. This is reflected in the destinations of economics graduates, who were in full-time employment, with almost half entering professions which fall within the category of business, finance and associate professions. A further 14% of economics graduates went into commercial, industrial and public sector management and 7% went on to become numerical clerks and cashiers.

Where are the jobs?

Economists are employed in a variety of settings in both the public and private sectors. The largest employer of economists is the Civil Service through the Government Economic Service (GES) . The Bank of England also provides vacancies through the Analyst Career Training (ACT) Program (see Bank of England Jobs).

Economics graduates also find employment in the following areas:

• other government departments and think tanks;
• banks (high street and city);
• insurance and accountancy firms.

The following sectors are also typical areas of employment for economics graduates:

• Government and public administration: As well as the Civil Service, this sector includes every government department and local government council in the UK.
• Banking, investment and insurance: Covers a wide range of employers including investment and commercial banks, building societies, broking firms, independent financial advisers, insurance and reinsurance companies
• Accountancy and business services: Covers firms that provide advice and accounting services to clients in both the public and private sectors and as well as accountants employed in-house in an organisation.

See industry insights for further information on possibilities in other employment areas.

Statistics are collected every year by the Higher Education Statistics Agency (HESA) to show what HE students do immediately after graduation. These can be a useful guide but, in reality, with the data being collected within just six months of graduation, many graduates are travelling, waiting to start a course, paying off debts, getting work experience or still deciding what they want to do. For further information about some of the areas of employment commonly entered by graduates of any degree discipline, check out what do graduates do? and your degree...what next?