Over the years, Bachelors in Economics has gained popularity in India, especially among aspirants for banking and other financial sectors. However, a degree in this discipline not only opens the doors of job opportunities in these two sectors but also in other sectors or industries as this subject is valued both nationally as well as globally. There is a wide range of career options available after a B.A. or B.Sc. degree in Economics in our country. Some of the most lucrative ones are listed below.
A few high-paying career options available for Economics graduates
1. Financial Auditor
Financial Auditing is a well-paying job in India. As an auditor one may have to work under companies that provide financial consultancy. An auditor’s responsibility includes:-
- Checking the financial status and accounts of different companies by collecting data about financial records from employees and the company’s management
- Compare the collected data to check for validity, legality, and presentation
- Understand the company’s process and policies and analyze transactions as given in financial documents
2. Tutoring in Economics as a Subject Matter Expert
Just after completing graduation in Economics one may start a side income by giving tuitions in the subject. If you opt for college lectureship or university teaching job then a higher degree with a minimum of PhD is required. But it is not required if one wishes to start a small tuition house on his or her own.
Tutoring in Economics is quite a well-paying job for both offline and online mediums. Though offline mediums require a lot of travel and waste of time and money, online teaching mode provides the opportunity to earn a substantial amount of tuition fees from the comfort of your home.
Nowadays, a lot of digital platforms like Chegg have been formed that provide opportunities to build online tuition houses to impart knowledge in various subjects. All you have to do is to create an account on these platforms and start building reputation as a teacher. You can either teach online, a mode of teaching that is becoming popular day by day, or, you can teach offline. All you need is to have good marks and reviews. You will get a lot of students based purely on the feedback they got about you.
3. Academic Content Writing
If you have a knack for writing and have an Economics degree in your pocket, you can opt for Academic Content Writing job both as a full-timer as well as freelance. Content writing is one of the most popular freelancer job in India, and academic content writer is a part of it. Nowadays, this job role is gaining importance in India because of it’s high-paying nature. It is also a good way to earn extra during your spare time. All you need is to have a good command over the subject matter and English language so that you can explain the various questions or theory in an easily understanding way for the students.
Academic content writing is different from normal blog or website content writing. To become a professional academic writer and pursue a full-time career in the same you may need to learn the tricks of academic content writing from any institution and get certified as a content writer.
4. Actuarial and data analysis careers in economics
The role of an actuary is to evaluate and advise on the impacts of financial risk and uncertainty using the knowledge of both business and economics. They prepare reports and devise strategies on how to lessen these risks in business. One may find entry-level job roles within pensions and insurance sectors. Later on you may move towards areas including banking, investment and healthcare. Actuaries should be highly skilled in mathematics and compiling statistics, but also able to explain complex data effectively to non-experts.
5. Business Development Manager
A business development manager identifies new business opportunities in order to generate revenue, improve profitability and help the business grow. You may have to seek out the appropriate contact in an organisation to generate leads and cold call prospective customers. There are several types of business management. You may specialise in construction, education, finance, health care, IT, manufacturing, telecommunications.
Learning Economics is not about opting for the traditional job roles any more. There are several alternative economics degree jobs and careers available in the marketing. All you need is to identify which career opportunity after an Economics degree will be suitable for you.