This article provides a list of jobs for economics major holders. Also, it provides a brief description of the jobs, the responsibilities, and the salary.
Economics is a social science that examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, governments, and nations make when allocating resources.
Be rest assured that there are a plethora of job opportunities for you when you have a degree in economics or did an economics major in school. Economics is a diverse field that is significant to everyday human life, it permeates all industries and sectors of the economy.
Jobs for Economics Major Holders
Listed below are some of the jobs for Economics Major Holder.
- Investment Analyst
- Credit Analyst
- Compensation Analyst
Investment analysts are professionals that take the burden of performing deep research that helps traders, investors, fund managers, hedge fund managers, and stockbrokers make wise investment choices in the market and other investment opportunities.
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Roles and Responsibilities of Investment Analyst
- Keeping abreast of market developments, new investment products, and other tangible information concerning investment and markets else that might have an impact on the markets. They need to be updated because such information influences the market in either a positive or negative direction.
- Employing specialized media sources to follow the financial news and inform their clients of new developments.
- Creating financial projections and models, as well as compiling research reports for fund managers or clients.
- They must be able to present comprehensive reports for their clients to make sure they have a clear understanding of what is at hand.
According to Glassdoor, the average salary of an investment analyst is $96,222.
Economists are specialists when it comes to finding ways the resources accumulated by an individual, company, or nation can be maximized for the greater value of production.
Roles and Responsibilities of an Economist
- Designing procedures and methods for data collection and proficiency in the use of those survey strategies and methods.
- Making forecasts using econometric and other financial modeling tools.
- conduct background investigation and literature reviews
- Gathering, sorting, and assembling information from research. Also, analyzing and interpreting it; testing the efficacy of existing and new policies, products, or services; and recommending the acceptability of alternative courses of action and the allocation of limited resources.
- Write a technical and non-technical journal and policy briefs on economic trends and projections.
- Detailing research methods and supporting findings made from research data.
- Providing consultation services on economics.
- Analyze the current and historical developments in the economy.
According to Glassdoor, the average salary of an economist is $116,020 per year.
Statisticians are professionals who solve real-life problems by using mathematical models to acquire and analyze data gathered. The findings of their research are vital for making decisions whether in business or any other field.
Roles and Responsibilities of Statisticians
- Coordinating with divisions to acquire data that will be used for research.
- Departments are being informed of the requirements for data reporting, including the frequency and format.
- Proficiency use of statistical tools like SPSS, SAS, or Stata to build and maintain databases.
- Ensuring data integrity and confidentiality by rigorously cleaning, checking for errors, and validating the data.
- Analyzing data with the aid of mathematics, computations, and statistical methods.
- Using statistical tests to evaluate the validity and reliability of results.
- Producing projections and recognizing industry trends to contribute to strategic strategy.
- Describing, interpreting, and providing a summary of findings.
- Present statistical results in reports that include executive summaries, graphs, tables, and charts.
- Maintaining a record of procedures and staying current with statistical analysis techniques.
According to Payscale, the average salary of a statistician is $78,596 per year.
Stockbrokers are professionals that sell and buy stocks, bonds, and other securities to their clients charging them a fee regarded as commission.
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Roles and Responsibilities of Stockbrokers
- Catch pace on the most recent financial and tax laws and regulations.
- Track the stock market volatility.
- Keep up with the most recent economic news and information to comprehend market fluctuations and change-causing factors.
- Conducting targeted analysis of the market.
- Write summaries of your market research in briefings and newsletters, offer financial advice, and come up with recommendations.
- Actively seek out customers, market your services, and maintain those ties.
- Updating your customers on a frequent basis with the status of their portfolio and fresh income stream opportunities.
- Offer client presentations at conferences and networking gatherings.
The average salary of a stockbroker is $58,768 per year according to Payscale.
A credit analyst is a specialist hired by an organization that gives out credits to help use data and clients’ financial information to ascertain their credit worthiness.
Roles and Responsibilities of Credit Analyst
- Review credit requests, including new requests, amended demands, renegotiation, and periodic fact-checking, after thoroughly analyzing financial data.
- Offer suggestions based on the credit risk appraisal.
- Report analyses, conclusions, and suggestions to the managers, particularly results pertaining to a borrower’s financial capacity
- Continually review the agency’s lending policies
- Compare credit reports to find inconsistencies and differences
- Create and set up systems and spreadsheets to aid in the examination of loan applications both new and old.
Compensation Analysts are essentially human resource manager who specializes in the structuring and development of the compensation system of an organization.
Roles and Responsibilities of a Compensation Analyst
- Developing and managing the compensation and benefits policies and practices are the responsibilities of the compensation analyst.
- They Examine job descriptions to determine the extent of employee duties and obligations.
- Examining and interpreting the compensation plans of the company.
- Examining a variety of pertinent compensation data to make sure that the company’s pay practices are fair.
supplying business information for pay surveys.
- Examining survey data on compensation.
- Identifying patterns for the future to guide the business in the right manner.
- Managing the development and upkeep of compensation structures.
- Ensuring that the business complies with all applicable rules and regulations.
The average salary of a compensation analyst is $84,670 according to Indeed.com.
An actuary is a professional that uses the understanding of mathematics and statistics to solve issues relating to finance and commerce.
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Roles and Responsibilities of Actuary
- Evaluate risks, for as through analyzing pension scheme liabilities to determine the cost of commercial insurance.
- Calculations can be made by analyzing statistical data, such as accident rates for specific groups of people.
- Building innovative financial solutions, through communicating and simplifying difficult concepts.
- The creation of briefings, findings, assessments, and periodic updates
- Guarantee that excessive risks are not incurred while trading at a rapid pace by monitoring risk inside trading positions in investment banking,
- Communicating the consequences to managers and directors, and offering risk-reduction advice.
- Provide guidance on matters like the administration of pension and benefits systems or the choice of investment managers in order to maintain compliance with statutory conditions.
- Establishing connections and assisting in mergers and takeovers.
The average salary of an actuary is $113,559 according to indeed.com.
Final Notes Jobs for Economics Major Holders and their Salaries
The branch of economics is a broad field that is dynamic and always has a lot of benefits for anyone with the right skills and qualifications. We have provided you with a detailed list of jobs for economics major holders and we hope you enjoyed it.
Before you go, apply for Available Jobs.