3 High Paying Careers in Economics

If you enjoy playing around with and making sense of data or analyzing policies, then you may be thinking of starting a career in economics. This is a great field to go into as this expertise plays a significant role in helping both governments and businesses effectively operate. There are several roles that you could decide to take that address your area of interest. While following your passion is important, it’s also key to choose a career path that pays well. If you’re presently studying an economics degree or thinking about doing so, you’ll find three high-paying careers to consider pursuing below.

Compensation and Benefits Manager

When looking for a high-paying job in economics, you should explore the idea of becoming a compensation and benefits manager. If you like human-resource related work, then this should be something that you enjoy. Regarding what you’d make it could be anything from $111,430 annually depending on where you work and your level of experience. To get such a role, you’d need the minimum of a bachelor’s degree in economics or any related field such as human resources, business administration, or finance.

Actuary

For those who like the idea of working with businesses to help them identify and lower potential risks, becoming an actuary may be ideal. This role is not only one that can be exciting and challenging, but it also pays relatively well with an average salary being between $97,000 to $136,000 every year if you’ve done your exams and gotten your certification. It may also interest you to know that this has been rated as one of the top jobs in the United States. To become an actuary, you need to earn an undergraduate degree in commerce or economics. If you opt to do an economics degree, Boston College applied economics degree can help develop the quantitative skills you need to form policy and strategy as well as how to understand industry trends.

Financial Analyst

In addition to the mentioned careers, perhaps think about becoming a financial analyst. You’ve likely at least heard about this job once or twice, and you can guess that its finance related. In case you don’t know, financial analysts examine financial data and use their finding to help organizations make decisions. These professionals usually earn around $80,000 annually and there are of course prospects to earn more. To take this path, you’re going to need a bachelor’s degree in business administration, finance, economics, statistics, or accounting. You’re also going to require licensure by the Financial Industry Regulatory Authority or certification as a Chartered Financial Analyst. You can then look for related work experience to boost your chances of getting a good position. After a few years working with a firm or even having an independent practice, you can move to starting your own firm or taking over a firm from the many accounting firms for sale. This would probably put you on the right path with regard to both financial independence as well as pursuing your ideal career choice.

Doing something that you love and being well paid for it can be a rewarding feeling. It gives you the chance to live a standard of life that you want as well as plan and save towards your future. In the process, you get to make an impact in your organization as well as help people through your contributions. On that note, hopefully, you’ve found the above career options ones that you can consider.