Options with economics
A degree in economics provides you with a wide array of both subject-specific and transferable skills. All these skills are highly sought after by employers and include:
A degree in economics provides you with the ability to apply economic principles and models to a wide range of issues while also understanding the larger driving forces shaping social policy.
Consider the skills developed on your course as well as through your other activities, such as paid work, volunteering, family responsibilities, sport, membership of societies, leadership roles, etc. Think about how these can be used as evidence of your skills and personal attributes. Then you can start to market and sell who you really are, identify what you may be lacking and consider how to improve your profile. Take a look at job application advice for some useful tips.
In order to find out more about work in economics, you could consider applying for a place on the Government Economic Service (GES) summer vacation placement scheme, which offers work experience opportunities for between six and 12 weeks. Individual government departments may also be able to offer unpaid work experience and you should contact the department directly to find out more.
You could also consider unpaid work experience or work shadowing in areas such as accountancy and finance. Contact local employers to see if they can help you.
Any work experience is good experience as it allows you to build essential skills in a variety of areas. Contact your local volunteering bureau for more information, or you could try Do-it for volunteering opportunities.
Although some of the jobs listed here might not be first jobs for many graduates, they are among the many realistic possibilities with your degree, provided you can demonstrate you have the attributes employers are looking for. Bear in mind that it’s not just your degree discipline that determines your options. Remember that many graduate vacancies don't specify particular degree disciplines, so don't restrict your thinking to the jobs listed here. Look at your degree... what next? for informed advice on career planning and graduate employment, or login/register with My Prospects to find out what jobs would suit you, a helpful starting point for self-analysis.
Explore types of jobs to find out more about the above options and related jobs.
In 2010, destinations information collected six months after graduation showed that nearly 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.
Economics as a degree places emphasis on numerical and problem solving skills. This is reflected in the destinations of economics graduates as six months after graduation, nearly 40% entered professions which fall within the category of business, finance and associate professions. A further 13% of economics graduates went into commercial, industrial and public sector management and 6% went on to become numerical clerks and cashiers.
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:
The following sectors are also typical areas of employment for economics graduates:
See industry insights for further information on possibilities in other employment areas.
Statistics are collected every year to show what HE students do immediately after graduation. These can be a useful guide but, in reality, because the data is collected within 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?
Just under 20% of economics students who graduated in 2009 chose to go on to full-time further study and just over 10% chose to combine work with study.
Economics graduates may choose to undertake further study for a variety of reasons. Some wish to continue with the subject because of personal interest or they may choose a specialist area such as health, agriculture or regional economic development.
Graduates may also use postgraduate study as a means to change career focus or to gain professional qualifications required to practise in certain career areas, such as accountancy.
Although not essential, postgraduate study can offer an advantage to those wishing to seek careers in competitive areas. If you are unsure whether a postgraduate course will be an advantage, check with employers or speak to your career adviser.
These trends show only what previous graduates in your subject did immediately upon graduating. Over the course of their career - the first few years in particular - many others will opt for some form of further study, either part time or full time. If further study interests you, start by thinking about postgrad study and search courses and research to identify your options.
Look at funding my further study for details relating to finance and the application process.
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