9 Important Career Opportunities in Economics

Written By Dyuti George Jacob (MSc. Economics, Symbiosis School of Economics, Pune) Edited by Dr Balaji Niwlikar

Introduction

In an increasingly data-driven and globalized world, economics has emerged as a crucial discipline offering high-paying and intellectually rewarding careers. Whether in finance, government policy, data science, investment banking, or environmental planning, economics graduates are in demand across multiple sectors.

With AI and big data shaping industries, professionals with strong analytical skills in macroeconomics, econometrics, and policy formulation are highly valued. This article explores the top career opportunities in economics in 2025, covering job roles, salaries, and required skills.

In the modern day and age, Economics has emerged as a highly relevant career option. Pursuing a Post Graduation in Economics would give the individual an edge with their understanding of macroeconomics and financial analysis in a wide variety of avenues.

Career Opportunities in Economics

Read More- Career Opportunities in Psychology

Career Opportunities in Economics

Some of the career opportunities in economics include-

1. Professional Economist

As a professional economist, one will be exposed to situations of economic analysis which involves analysing economic data, deriving meaningful inferences and identifying opportunities and threats for institutions and clients. Employment opportunities can be seen in corporates, Governmental organisations and think tanks.

Educational qualifications: MA/MSc in Economics

• Key Skills: Data analysis, statistical modeling, critical thinking, and communication.
• Salary:

Top Employers:

• Government bodies (e.g., NITI Aayog, Ministry of Finance)
• Think tanks (e.g., Brookings Institution, RBI research departments)
• Financial institutions (e.g., World Bank, IMF, UNDP)

Salary Expectation:

• • India: ₹8–15 LPA
  • USA: $80,000–$120,000 annually. The median annual wage for economists was $113,940 in May 2022 (BLS).

2. Data Scientist

With the onset of AI, it is important for an economist to have data analytical skills. Gone are the days when theoretical knowledge was enough for making conclusive inferences about macroeconomic phenomenon. In a dynamic world, it is important to develop an expertise in data analytical skills Python, SQL, R Studio, Power BI among others which will help in modelling and forecasting which can be further be used for analytical purposes.

Educational qualifications: MSc Economics with specialisation in data analytics.

Top Employers:

• Google, Amazon, Microsoft (Data Science Teams)
• Consulting firms (McKinsey, BCG, Deloitte)
• Research firms (J-PAL, NBER)

Salary Expectation:

• India: ₹12–25 LPA
• USA: $100,000–$150,000 annually

3. Policy Formulation

Knowledge of economics is paramount in policy formulation. Economics gives an individual the required academic acumen to make sound policy decisions considering all aspects of the policy, its implementation, economic feasibility and consequences. Knowledge in specific domains like Urban Development, Trade, Agriculture etc. are required.

Educational Qualifications: MA/MSc Economics with relevant specialisation.

• Key Skills: Problem-solving, project management, and client communication.
• Salary: The median annual wage for management consultants was $95,290 in May 2022 (BLS).

4. Government Sector

Job opportunities exist in the Government sector in various ministries like Finance, Revenue, Internal Affairs and other governmental organisations like Niti Aayog. For this, one must clear the Indian Economic Services (IES) exam conducted by the Union Public Service Commission (UPSC). The UPSC also selects candidates to the Indian Statistical Services (ISS). Their job profile includes econometric modelling, policy formulation, data analysis. Along with this, multiple openings are available with the Reserve Bank of India.

Educational Qualifications: Post Graduation in Economics and must clear the qualifying examination.

Skills Required:

• Public policy formulation
• Economic impact assessment
• Quantitative analysis (SPSS, EViews)
• Legal and regulatory knowledge

Educational Qualifications:

• MA/MSc in Economics or Public Policy
• Indian Economic Services (IES) Exam (for government roles)

Top Employers:

• Government Ministries (Finance, Commerce, Planning Commission)
• International organizations (UN, World Bank, IMF)
• Regulatory bodies (SEBI, RBI, NITI Aayog)

Salary Expectation:

• India: ₹10–18 LPA (Post IES Exam)
• USA: $70,000–$110,000 annually

5. Investment Banking

This is probably the most lucrative and sought after career option. It includes a variety of financial roles dealing with client advisory, financial analysis, managing financial transactions, equity financing, IPO management, Mergers & Acquisitions etc.

Economics graduates with strong financial acumen can pursue careers in investment banking, equity research, and financial consulting.

Skills Required:

• Financial modeling
• Corporate finance & risk management
• Knowledge of SQL, Power BI, Python
• Equity research

Educational Qualifications:

• MSc in Economics with Finance Specialization
• CFA, FRM, or MBA (optional for advanced roles)

Top Employers:

• Investment banks (Goldman Sachs, JP Morgan, Morgan Stanley)
• Hedge funds & PE firms
• Multinational corporations (MNCs)

Salary Expectation:

• India: ₹15–30 LPA
• USA: $100,000–$200,000 annually

6. Asset Management

Asset management includes managing investments on behalf of clients like individuals, institutions or pension funds. An asset manager monitors investment strategy, asset allocation, security selections, risk management and performance monitoring. This will also include portfolio managers who focus on specifically managing and constructing securities to achieve specific investment objectives. This is a highly remunerating yet crucial role.

Educational qualification: MSc in Economics with a specialisation in Finance. Knowledge of data analytical tools like Power BI, SQL, Gretl, Python etc. are preferred.

• Key Skills: Financial modeling, market research, and proficiency in tools like Excel and Bloomberg Terminal.
• Salary: The median annual wage for financial analysts was $96,220 in May 2022 (BLS).
• Asset managers handle investment portfolios for institutions, pension funds, and individuals.
  

Skills Required:

• Portfolio analysis
• Risk management
• Financial forecasting
• Knowledge of Bloomberg Terminal, Python, Power BI

Educational Qualifications:

• MSc in Economics with Finance Specialization
• CFA, CFP, or related certifications

Top Employers:

• BlackRock, Vanguard, Fidelity
• Mutual funds & insurance companies
• Family wealth management firms

Salary Expectation:

• • India: ₹12–25 LPA
  • USA: $90,000–$150,000/ annum; The median annual wage for financial analysts was $96,220 in May 2022 (BLS)

7. Environmental Economist and Urban Planner

These are two upcoming and relevant fields associated with economics. In the rapidly urbanising world, it is important to design and develop sustainable and equitable communities. In the wake of rapid industrialisation, it is imperative to protect and preserve environmental resources for the future generations. This requires an economist who is trained in formulating policies which assure sustainable growth. Career opportunities would be available in Governmental agencies, NGOs and International organisations.

Educational Qualification: Post Graduation in Economics with a specialisation in Urban Development, Developmental Studies or any other relevant course.

These professionals create sustainable economic policies for climate change, urban planning, and resource management.

Skills Required:

• Climate finance & sustainability
• Econometric modeling
• GIS & spatial analysis
• Policy planning

Educational Qualifications:

• MSc in Environmental Economics/Urban Planning , 
• Specialization in Sustainability Studies

Top Employers:

• UNDP, World Bank, WWF
• City Planning Commissions
• Government sustainability departments

Salary Expectation:

• • India: ₹8–18 LPA
  • USA: $80,000–$130,000 annually

8. Academics

There are various openings available for an Economics post graduate in the field of academics. A Professor in Economics has opportunities in different institutes in India. In order to join a Government University, one must clear the qualifying examination conducted by the University Grants Commission (UGC). Research is another major aspect. Research in economics is multi-dimensional with various domains like agriculture, urban development, international relations, welfare economics etc.

Educational Qualifications: Post Graduation in Economics with PhD. Knowledge of any statistical or econometric software like Stata, SPSS is recommended.

• Key Skills: Research methodology, teaching, and publishing.
• Salary: The median annual wage for postsecondary economics teachers was $104,940 in May 2022 (BLS).

9. Behavioural Economics

Behavioural economics is a relatively upcoming field which combines principles of Economics and Psychology. It is mainly aimed at understanding Human decision making. A Behavioural Economist can contribute in various fields like Policy analysis, Human Resource Management, User Experience (UX) researcher, Risk and Wealth management, Marketing, Consultation etc.

Educational Qualification: Post Graduation in Behavioural Economics (Limited options in India)

Skills Required:

• Behavioral finance & psychology
• Experimental economics
• Data analysis & A/B testing
• Consumer behavior modeling

Educational Qualifications:

• MSc in Behavioral Economics (Limited in India)
• Specialization in Psychology & Decision Sciences

Top Employers:

• Google, Amazon (UX Research & Marketing Teams)
• Financial consulting firms

Salary Expectation:

• India: ₹12–20 LPA
• USA: $80,000–$140,000 annually

Institutes in India Offering Courses in Economics

Some insititutes offering courses in economics include-

1. Delhi School of Economics, Delhi University
2. Jawaharlal Nehru University
3. Gokhale Institute of Politics and Economics, Pune
4. Indira Gandhi Institute of Development Research, Mumbai
5. Centre of Developmental Studies, Thiruvananthapuram
6. Symbiosis School of Economics, Pune
7. Indian Statistical Institute, Kolkata and Delhi
8. Madras School of Economics, Chennai
9. Indian Institute of Technology, Delhi
10. Indian Institute of Foreign Trade
11. University of Culcutta, Kolkata
12. MIT, Pune
13. NMIMS, Mumbai

Emerging Trends in Economics Careers

1. The Rise of Behavioral Economics

Behavioral economics, which combines insights from psychology and economics, is gaining traction in fields such as marketing, public policy, and finance. Professionals with expertise in this area are in high demand.

2. Green Economics and Sustainability

As the world grapples with climate change, there is a growing need for economists who can analyze the economic impact of environmental policies and develop sustainable business models.

3. Digital Transformation and Fintech

The rapid growth of fintech and digital currencies is creating new opportunities for economists with expertise in blockchain, cryptocurrency, and digital finance.

4. Globalization and Geopolitical Risks

The increasing complexity of global trade and geopolitical risks is driving demand for economists who can analyze international markets and provide strategic insights.

Skills Required for a Successful Career in Economics

To thrive in the field of economics, you need a combination of technical and soft skills:

Technical Skills:

• Proficiency in statistical software (e.g., Stata, R, Python)
• Data analysis and visualization
• Econometric modeling
• Knowledge of economic theory and principles

Soft Skills:

• Critical thinking and problem-solving
• Communication and presentation skills
• Teamwork and collaboration
• Adaptability and lifelong learning

How to Prepare for a Career in Economics

1. Pursue a Degree in Economics or a Related Field

A bachelor’s degree in economics is the minimum requirement for most entry-level positions. For advanced roles, a master’s or Ph.D. in economics is often necessary.

2. Gain Practical Experience

Internships, research projects, and part-time jobs can provide valuable hands-on experience and help you build a professional network.

3. Develop Technical Skills

Take courses in data analysis, programming, and econometrics to stay competitive in the job market.

4. Stay Informed About Industry Trends

Read industry reports, attend conferences, and follow thought leaders to stay updated on the latest developments in economics.

5. Build a Strong Professional Network

Join professional organizations such as the National Association for Business Economics (NABE) or the American Economic Association (AEA) to connect with peers and mentors

Conclusion

Economics offers diverse career opportunities spanning finance, policymaking, research, and data analytics. With technological advancements, globalization, and policy shifts, the field is evolving rapidly. Whether you aim for a corporate career, academic research, or public sector role, an advanced degree in economics can open numerous high-paying and impactful career paths

The field of Economics offers a wide range of exciting and challenging career opportunities. Economics graduates develop strong analytical and problem-solving skills as well as the ability to think critically. So, if you are looking for a career that will challenge and inspire you, consider Economics.

References

1. U.S. Bureau of Labor Statistics (BLS). (2022). Occupational Outlook Handbook: Economists.
2. Payscale. (2023). Average Policy Analyst Salary.
3. World Bank. (2023). Careers in International Development.
4. American Economic Association (AEA). (2023). Career Resources for Economists.
5. McKinsey & Company. (2023). The Future of Work in Economics.

6. NITI Aayog (2024). India’s Economic Roadmap 2030

7. Harvard Business Review. (2023). The Rise of Behavioral Economics.

8. International Monetary Fund (IMF). (2023). Global Economic Trends Report.
9. Gurmukhani, N. (2024, December 04). Career Options in Economics: Top 12 Career Opportunities in India [2025]. Retrieved from upGrad: https://www.upgrad.com/blog/career-options-in-economics/
10. Hari, N. (2020, April 08). Top Indian Universities for Masters in Economics. Retrieved from Economiga: https://www.economiga.org/post/top-indian-universities-for-masters-in-economics
11. PhD, I. B. (2025, January 09). 12 Ideal Jobs for Economics Majors in 2025. Retrieved from Research.com: https://research.com/careers/jobs-for-economics-majors