Why an Economics Major is a Smart Choice
Economics Majors Get Good Jobs
The median salary for economics majors with 0-5 years of work experience is $48,100 a year. Most students who take their job search seriously get a number of interviews and several job offers. The average salary for top tier economics graduates in 2008 was $52,926.
Methodology Annual pay for Bachelors graduates without higher degrees. Typical starting graduates have 2 years of experience; mid-career have 15 years. See full methodology for more. |
Economics is a Interdisciplinary Major
Analytical skills, a strong quantitative background, and clarity and precision of expression are qualities developed in the economics major. Additionally, knowledge of the operations of a complex economic system and its institutions provides skills applicable to a wide variety of job responsibilities in a number of occupational areas.
The skills listed below are representative of those acquired from the study of economics, and may be applied in various occupations.
Financial
• Maintaining accurate records
• Tabulating figures
• Manipulating numerical data
• Developing budgets
• Performing cost/benefit analyses
• Creating and evaluating financial reports
Research/Analysis
• Designing projects
• Generating/developing ideas
• Organizing materials
• Computing data
• Analyzing results
• Testing an idea/hypotheses
• Using computer applications
• Applying statistical methods
Communication
• Writing reports/articles
• Summarizing
• Writing proposals
• Justifying a position
• Reading and interpreting reports
• Speaking persuasively
• Explaining ideas/goals
Problem Solving
• Assessing needs
• Defining problems
• Developing possible solutions
Job Titles of Recent Graduates
Account Manager
Analyst
Budget Analyst
Business Operations Specialist
Consultant
Credit Analyst
Economist
Financial Advisor
Financial Analyst
Functional Developer
Loan Officer
Management Trainee
Operations Research Associate
Risk Analyst
Teacher
Some Companies that have hired Economics Majors
Allegis Group, Inc.
Andersen Consulting
American Power Conversion Corporation
Arthur Andersen LLP
Black & Decker US, Inc.
Branch Banking and Trust Co. (BB&T)
Bureau of Labor Statistics
Capital One
Captech Ventures, Inc.
CarMax
Census Bureau
Central Intelligence Agency
Enterprise Rent-A-Car
Entensity
Fannie Mae
Ferguson Corporation
First Citizens Bank & Trust Co.
First Union Corporation
First Virginia
Frito-Lay, Inc.
H&R Block Financial Advisors, Inc.
Hulick-Meltzer & Associates
John Hancock Financial Services
Kroger
Kurt Salmon Associates
Lee Technologies Group
Lutron Electronics Co., Inc.
Maxim Healthcare Services
MetLife Financial Services
MicroStrategy, Inc
NAVAIR
Naval Criminal Investigative Service
Navy Officer Programs
Norfolk Southern Corporation
Northrop Grumman
Northwestern Mutual Financial Network
NVR, Inc./Ryan Homes
PeopleSoft
Pss/World Medical
SCC
Science Applications International Corporation (SAIC)
SNL Securities
State Farm Insurance Companies
Target
Volvo Commercial Finance LLC
Wallace
Wells Fargo Financial
Western Industries
Witt, Mares & Company