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What it’s the difference between business ( finance)and economic ( what careers about economics? What jobs? )? Which one makes the most money and have flex work schedule?
What it's the difference between business (finance)and economic (what careers about economics? What jobs? )? Which one makes the most money and have flex work schedule?
Considering economic right now, but friends want me to take business
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7 answers
Updated
Dr’s Answer
Hey RL,
Well seems you got much to gather up! I am gonna break it down for you and start wihh the differences, but remember you gotta choose not just of outcomes or friends but self desire, passion and dedication as well.... Life may be short, but living it is the long journey buddy! 😏😁
1. Business vs. Finance vs. Economics – What’s the Difference?👀👀👀
These three are closely related, but they focus on different aspects:
Business → Running or managing companies (strategy, operations, marketing, leadership)
Finance → Managing money, investments, banking, risk, and financial planning
Economics → Understanding how economies work, studying markets, policies, and big-picture financial trends
Think of it this way:
If business is the whole body,
Finance is the bloodstream (money flow),
Economics is the brain analyzing why the body moves the way it does!
2. Careers & Job Options
Each path leads to different careers:
Business Careers 🤔
(Entrepreneurship, Management, Marketing, HR, Operations)
Business Analyst
Marketing Manager
HR Specialist
Sales Executive
Operations Manager
Entrepreneur (Start your own company!)
Salaries: $60K–$150K+ (higher with experience, especially in leadership roles)
Flexibility: Moderate (corporate jobs can be rigid, but entrepreneurship is flexible)
And the Finance Careers are....
(Banking, Investments, Accounting, Financial Planning)
Investment Banker
Financial Analyst
Accountant
Wealth Manager
Risk Manager
Salaries: $70K–$250K+ (finance has some of the highest salaries, but long hours!)
Flexibility: Low in banking (80+ hour weeks), but higher for financial planners
Now for.... Economics Careers
(Data Analysis, Research, Policy, Consulting)
Economist
Data Analyst
Policy Advisor
Market Research Analyst
Professor (if you love research!) 🤓
Salaries: $60K–$200K+ (higher in government, research, or consulting)
Flexibility: High (many remote or academic roles, freelancing is also an option)
3. Which One Pays the Most?
Finance wins for high salaries (Investment banking, hedge funds, private equity).
💼 Business leadership can make millions if you reach executive levels or start your own company.
📊 Economics can be very profitable in consulting, policy advising, and data science roles.
4. Which One Has the Most Flexible Work Schedule?
Economics-related jobs (consulting, research, freelancing) → Best flexibility
Business (entrepreneurship, marketing, remote management roles) → Good flexibility
Finance (banking, investment roles) → Least flexible (long hours but high pay)
5. Should You Choose Business or Economics?
It depends on your personality and goals!
Want to start/manage a business? → Business
Love analyzing numbers & financial markets? → Finance
Interested in big-picture economics, policy, and research? → Economics
Man, If you’re unsure, you can mix them! A business degree with a minor in economics or finance gives you the best of all worlds.
My finalized Thought to You RL is To Listen to Your Passion, Not Just Your Friends!
Your friends want you to study business, but what do YOU want? Business is great, but if you’re naturally drawn to economics, you can find high-paying and flexible careers in that field too!
No path is "better"—just different. Follow what excites you, and the success (and money) will follow.
Hope that helps! Let me know if you need more details or just a question to hit an answer on! Good luck man! 🤗
Well seems you got much to gather up! I am gonna break it down for you and start wihh the differences, but remember you gotta choose not just of outcomes or friends but self desire, passion and dedication as well.... Life may be short, but living it is the long journey buddy! 😏😁
1. Business vs. Finance vs. Economics – What’s the Difference?👀👀👀
These three are closely related, but they focus on different aspects:
Business → Running or managing companies (strategy, operations, marketing, leadership)
Finance → Managing money, investments, banking, risk, and financial planning
Economics → Understanding how economies work, studying markets, policies, and big-picture financial trends
Think of it this way:
If business is the whole body,
Finance is the bloodstream (money flow),
Economics is the brain analyzing why the body moves the way it does!
2. Careers & Job Options
Each path leads to different careers:
Business Careers 🤔
(Entrepreneurship, Management, Marketing, HR, Operations)
Business Analyst
Marketing Manager
HR Specialist
Sales Executive
Operations Manager
Entrepreneur (Start your own company!)
Salaries: $60K–$150K+ (higher with experience, especially in leadership roles)
Flexibility: Moderate (corporate jobs can be rigid, but entrepreneurship is flexible)
And the Finance Careers are....
(Banking, Investments, Accounting, Financial Planning)
Investment Banker
Financial Analyst
Accountant
Wealth Manager
Risk Manager
Salaries: $70K–$250K+ (finance has some of the highest salaries, but long hours!)
Flexibility: Low in banking (80+ hour weeks), but higher for financial planners
Now for.... Economics Careers
(Data Analysis, Research, Policy, Consulting)
Economist
Data Analyst
Policy Advisor
Market Research Analyst
Professor (if you love research!) 🤓
Salaries: $60K–$200K+ (higher in government, research, or consulting)
Flexibility: High (many remote or academic roles, freelancing is also an option)
3. Which One Pays the Most?
Finance wins for high salaries (Investment banking, hedge funds, private equity).
💼 Business leadership can make millions if you reach executive levels or start your own company.
📊 Economics can be very profitable in consulting, policy advising, and data science roles.
4. Which One Has the Most Flexible Work Schedule?
Economics-related jobs (consulting, research, freelancing) → Best flexibility
Business (entrepreneurship, marketing, remote management roles) → Good flexibility
Finance (banking, investment roles) → Least flexible (long hours but high pay)
5. Should You Choose Business or Economics?
It depends on your personality and goals!
Want to start/manage a business? → Business
Love analyzing numbers & financial markets? → Finance
Interested in big-picture economics, policy, and research? → Economics
Man, If you’re unsure, you can mix them! A business degree with a minor in economics or finance gives you the best of all worlds.
My finalized Thought to You RL is To Listen to Your Passion, Not Just Your Friends!
Your friends want you to study business, but what do YOU want? Business is great, but if you’re naturally drawn to economics, you can find high-paying and flexible careers in that field too!
No path is "better"—just different. Follow what excites you, and the success (and money) will follow.
Hope that helps! Let me know if you need more details or just a question to hit an answer on! Good luck man! 🤗
Theophilus Mensah
Discovery Intern @Deloitte |2x Founder | TMCF Scholar | Business + CIS @ GSU | Harvard ALP 25’
71
Answers
Updated
Theophilus’s Answer
Heyyyy,
Finance is all about managing money: investing, banking, budgeting, and making financial decisions for businesses or individuals. If you’re into stocks, corporate finance, or helping people grow their wealth, this might be your choice .
Economics is more about understanding how money moves in the world; how businesses, governments, and people make decisions about resources. It’s more research and policy-focused, looking at trends, markets, and big-picture financial systems.
Finance careers (like investment banking, financial analysis, and wealth management) tend to pay more, especially early on. But some roles can be super demanding with long hours.
Economics careers (like being an economist, data analyst, or policy expert) can also pay well, but the big money usually comes later with experience or advanced degrees.
Finance jobs can be intense, especially in banking or hedge funds. But financial planners, analysts, and consultants can have more chill, flexible schedules.
Economics jobs, especially in government, research, and academia, tend to be more stable with better work-life balance.
So now, which one is better?
If you want fast money and don’t mind long hours, finance is the way. If you like understanding big economic trends, research, and a more flexible job, economics might be a better fit.
The decision depends on your goal now: money, flexibility, or both?😁
Have a great day!
Finance is all about managing money: investing, banking, budgeting, and making financial decisions for businesses or individuals. If you’re into stocks, corporate finance, or helping people grow their wealth, this might be your choice .
Economics is more about understanding how money moves in the world; how businesses, governments, and people make decisions about resources. It’s more research and policy-focused, looking at trends, markets, and big-picture financial systems.
Finance careers (like investment banking, financial analysis, and wealth management) tend to pay more, especially early on. But some roles can be super demanding with long hours.
Economics careers (like being an economist, data analyst, or policy expert) can also pay well, but the big money usually comes later with experience or advanced degrees.
Finance jobs can be intense, especially in banking or hedge funds. But financial planners, analysts, and consultants can have more chill, flexible schedules.
Economics jobs, especially in government, research, and academia, tend to be more stable with better work-life balance.
So now, which one is better?
If you want fast money and don’t mind long hours, finance is the way. If you like understanding big economic trends, research, and a more flexible job, economics might be a better fit.
The decision depends on your goal now: money, flexibility, or both?😁
Have a great day!
Updated
Stephanie’s Answer
Both finance and economics offer high-paying career opportunities. Finance is more focused, while economics covers a wider range of topics. To explore your interest in finance, try a free, short course on the basics of finance available at HP LIFE: https://www.life-global.org/course/21-basics-of-finance. This class takes less than an hour. You can also find courses in other fields on the same website.
Caroline Tomey
Senior Associate, Digital Transformation Consulting
15
Answers
Updated
Caroline’s Answer
Great questions! This is my two cents from what I know...
Business (Finance) vs. Economics:
- Finance (Business Degree) focuses on managing money, investments, and banking. Careers include options such as financial analyst, investment banker, and accountant
- Economics studies markets, policies, and data trends. Careers include options such as economist, data analyst, and policy advisor.
Which Pays More & Offers Flexibility?
- Finance has higher paying jobs but often longer hours because they can deal with high-stakes management and often require in-office work due to market demands
- Economics has competitive salaries because the jobs require very strong analytical skills but they also have more remote/flexible options that make them more adaptable for work-life balance
So the best choice depends on what you are willing to sacrifice - high earnings and a fast-paced environment in finance or good pay with more flexibility in economics?
Business (Finance) vs. Economics:
- Finance (Business Degree) focuses on managing money, investments, and banking. Careers include options such as financial analyst, investment banker, and accountant
- Economics studies markets, policies, and data trends. Careers include options such as economist, data analyst, and policy advisor.
Which Pays More & Offers Flexibility?
- Finance has higher paying jobs but often longer hours because they can deal with high-stakes management and often require in-office work due to market demands
- Economics has competitive salaries because the jobs require very strong analytical skills but they also have more remote/flexible options that make them more adaptable for work-life balance
So the best choice depends on what you are willing to sacrifice - high earnings and a fast-paced environment in finance or good pay with more flexibility in economics?
Updated
Christopher’s Answer
Hey RL -
Both fields teach you how markets work and how money systems run, but they focus on different skills and career goals. With an economics degree, you'll learn about economic ideas, rules, and how they affect people. A finance degree, however, focuses on handling money, investments, and planning finances. Knowing the differences between these fields can help you pick the right path for your education.
Degrees in finance and economics both lead to many job opportunities with good pay. The BLS reported that the average salary for business and financial jobs was $79,050 in May 2023. Choosing between finance and economics depends on what you like, your career goals, and the kind of work you enjoy.
Both fields teach you how markets work and how money systems run, but they focus on different skills and career goals. With an economics degree, you'll learn about economic ideas, rules, and how they affect people. A finance degree, however, focuses on handling money, investments, and planning finances. Knowing the differences between these fields can help you pick the right path for your education.
Degrees in finance and economics both lead to many job opportunities with good pay. The BLS reported that the average salary for business and financial jobs was $79,050 in May 2023. Choosing between finance and economics depends on what you like, your career goals, and the kind of work you enjoy.
Updated
David’s Answer
Hi,
The difference between business (finance) and economics lies primarily in focus and scope:
**Business (Finance)**
- **Focus**: Business finance deals with the management of financial resources within a company or organization. It involves activities like budgeting, financial planning, investment strategies, financial risk management, and managing financial statements.
- **Careers**: Jobs in business and finance include roles like financial analysts, investment bankers, accountants, financial advisors, and CFOs. These professionals are responsible for managing, investing, and analyzing financial assets to help businesses grow and maintain profitability.
- **Skills**: Skills in accounting, budgeting, financial modeling, data analysis, and market strategy are crucial in business finance.
- **Pay & Flexibility**: Finance careers, especially in roles like investment banking, financial management, and financial consulting, tend to have higher earning potential. However, they can also be demanding in terms of hours, although some roles (e.g., corporate finance, financial analysis) may offer more flexibility, particularly in larger companies with flexible working policies.
**Economics**
- **Focus**: Economics is broader and focuses on understanding the behavior of markets, governments, and individuals. It looks at supply and demand, resource allocation, and how economic policies and conditions affect society. Economists may analyze trends, develop forecasts, and study factors that influence public policies, social welfare, or international trade.
- **Careers**: Jobs in economics include roles like economic analysts, policy advisors, research economists, and roles in government and international organizations (like the UN or World Bank). You could also work in market research, healthcare, or academia.
- **Skills**: Strong analytical, statistical, and research skills are necessary. Economists are often trained to use data to make predictions or policy recommendations.
- **Pay & Flexibility**: Economics can also be lucrative, especially in policy-making roles, consulting, or as an economist in large corporations or government. Many economic roles (e.g., research, government positions) can offer more flexibility and stability than business finance, though pay might not always reach the high levels of certain finance sectors (like investment banking).
Which Career Makes the Most Money & Has Flex Work?
- **Finance** (business-related careers) generally has higher earning potential, particularly in fields like investment banking, private equity, and financial consulting. However, many of these jobs require long hours and may not offer the same flexibility. That said, corporate finance and financial analysis roles could offer more balanced schedules with good pay.
- **Economics** careers can also be lucrative, especially in consulting, government positions, or international organizations, but pay may be a bit lower than high-finance careers, especially in academia or research. However, economics often offers more opportunities for flexibility, particularly in government or nonprofit sectors.
Deciding Between Business (Finance) and Economics
- If you’re looking for **high earning potential** and are comfortable with a **potentially demanding work schedule**, **business finance** (e.g., investment banking, corporate finance) might be a better fit.
- If you prefer **flexibility** and a more **analytical, research-oriented role** with an interest in broader societal impacts, **economics** could be the better choice.
Ultimately, it depends on whether you’re more interested in managing financial resources within businesses or understanding and analyzing economic trends that influence global and national policies.
The difference between business (finance) and economics lies primarily in focus and scope:
**Business (Finance)**
- **Focus**: Business finance deals with the management of financial resources within a company or organization. It involves activities like budgeting, financial planning, investment strategies, financial risk management, and managing financial statements.
- **Careers**: Jobs in business and finance include roles like financial analysts, investment bankers, accountants, financial advisors, and CFOs. These professionals are responsible for managing, investing, and analyzing financial assets to help businesses grow and maintain profitability.
- **Skills**: Skills in accounting, budgeting, financial modeling, data analysis, and market strategy are crucial in business finance.
- **Pay & Flexibility**: Finance careers, especially in roles like investment banking, financial management, and financial consulting, tend to have higher earning potential. However, they can also be demanding in terms of hours, although some roles (e.g., corporate finance, financial analysis) may offer more flexibility, particularly in larger companies with flexible working policies.
**Economics**
- **Focus**: Economics is broader and focuses on understanding the behavior of markets, governments, and individuals. It looks at supply and demand, resource allocation, and how economic policies and conditions affect society. Economists may analyze trends, develop forecasts, and study factors that influence public policies, social welfare, or international trade.
- **Careers**: Jobs in economics include roles like economic analysts, policy advisors, research economists, and roles in government and international organizations (like the UN or World Bank). You could also work in market research, healthcare, or academia.
- **Skills**: Strong analytical, statistical, and research skills are necessary. Economists are often trained to use data to make predictions or policy recommendations.
- **Pay & Flexibility**: Economics can also be lucrative, especially in policy-making roles, consulting, or as an economist in large corporations or government. Many economic roles (e.g., research, government positions) can offer more flexibility and stability than business finance, though pay might not always reach the high levels of certain finance sectors (like investment banking).
Which Career Makes the Most Money & Has Flex Work?
- **Finance** (business-related careers) generally has higher earning potential, particularly in fields like investment banking, private equity, and financial consulting. However, many of these jobs require long hours and may not offer the same flexibility. That said, corporate finance and financial analysis roles could offer more balanced schedules with good pay.
- **Economics** careers can also be lucrative, especially in consulting, government positions, or international organizations, but pay may be a bit lower than high-finance careers, especially in academia or research. However, economics often offers more opportunities for flexibility, particularly in government or nonprofit sectors.
Deciding Between Business (Finance) and Economics
- If you’re looking for **high earning potential** and are comfortable with a **potentially demanding work schedule**, **business finance** (e.g., investment banking, corporate finance) might be a better fit.
- If you prefer **flexibility** and a more **analytical, research-oriented role** with an interest in broader societal impacts, **economics** could be the better choice.
Ultimately, it depends on whether you’re more interested in managing financial resources within businesses or understanding and analyzing economic trends that influence global and national policies.
Updated
Rick’s Answer
RL.
As an investment professional for nearly 50 years, I'll share with you my simple explanation.
The world of finance is about two major things:
Helping people in business who need to raise capital.
Helping the general public to invest in investment bank vetted enterprises for income and/or the growth of their savings.
It could be an established business looking to investment banks for setting up debt capital funding or for equity capital funding.
For the desire of the company to go the debt route it would be the issuance, by the investment bank, of bonds to sophisticated investors or the general public. Bonds pay a fixed rate of interest at higher rates than banks offer, generally, and their term is usually 10, 15 or 25 years. At the end of that term the owners of those bonds receive their initial principal back.
If the enterprise choses the equity route, then the investment bank will structure an IPO i.e., initial public offering, which is stock. The general public can then buy those shares and become part owners of the business and will receive dividends from the profits earned by the enterprise. Or the enterprise may put those profits into their retained earnings account for expansion, which normally drives up the value of everyone's stock. Unlike bonds there is no return of principal with stock. To sell stock the holders must go to the stock exchanges and can only expect the current market price of the shares at that specific moment in time.
Now what if the enterprise goes bankrupt? Well, stockholders are not protected and will come last if anything is left after liquidation. But bond holders are first in line for what's left, once businesses that are owed money by the bankrupt enterprise are paid back.
Economics is a more academic pursuit. There's Microeconomics, Macroeconomics, International Economics and so on. Their work is more analytical. My degree is in economics, but my career landed in the finance arena.
So, there's my simple quick overall answer to your question. Now that you have the big picture it will be easier to start drilling down to the more detailed opportunities available.
Best of luck with your future endeavors. May you be hugely prosperous.
Rick
As an investment professional for nearly 50 years, I'll share with you my simple explanation.
The world of finance is about two major things:
Helping people in business who need to raise capital.
Helping the general public to invest in investment bank vetted enterprises for income and/or the growth of their savings.
It could be an established business looking to investment banks for setting up debt capital funding or for equity capital funding.
For the desire of the company to go the debt route it would be the issuance, by the investment bank, of bonds to sophisticated investors or the general public. Bonds pay a fixed rate of interest at higher rates than banks offer, generally, and their term is usually 10, 15 or 25 years. At the end of that term the owners of those bonds receive their initial principal back.
If the enterprise choses the equity route, then the investment bank will structure an IPO i.e., initial public offering, which is stock. The general public can then buy those shares and become part owners of the business and will receive dividends from the profits earned by the enterprise. Or the enterprise may put those profits into their retained earnings account for expansion, which normally drives up the value of everyone's stock. Unlike bonds there is no return of principal with stock. To sell stock the holders must go to the stock exchanges and can only expect the current market price of the shares at that specific moment in time.
Now what if the enterprise goes bankrupt? Well, stockholders are not protected and will come last if anything is left after liquidation. But bond holders are first in line for what's left, once businesses that are owed money by the bankrupt enterprise are paid back.
Economics is a more academic pursuit. There's Microeconomics, Macroeconomics, International Economics and so on. Their work is more analytical. My degree is in economics, but my career landed in the finance arena.
So, there's my simple quick overall answer to your question. Now that you have the big picture it will be easier to start drilling down to the more detailed opportunities available.
Best of luck with your future endeavors. May you be hugely prosperous.
Rick