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What career options are out there for me?

I am currently studying a degree in economics, and it seems the only options for placement years, internships, or graduate jobs are accounting or investment banking. I find my strengths do not lie with accounting and I am good at macroeconomics, specifically development economics and i am quite logical, good at understanding concepts and solving problems.

#economics #development #logical #business #internship

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Jennifer’s Answer

Hi, Claudia!

Economics is a great major with a lot of flexibility! A quick search on the internet with "careers in economics" for example will bring up lots of information. One article that I use that I think is particularly helpful is this one: https://www.trade-schools.net/articles/jobs-for-economics-majors.

Another great resource that I frequently use with my students is the Occupational Outlook Handbook (www.bls.org/ooh). It will give you a wealth of information related to what a typical day looks like, the education needed, the salary ranges, and the career outlook for the next 10 years. You can search a variety of different job titles, and the site even presents similar jobs to the one that you're searching.

Good luck in your search!
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Eleanya J.’s Answer

Studying economics trains you to become an Economist. You can work as an Economist in public/non-profit sector, in organizations such as ECB, Bank of England, US Treasury, IMF, World Bank, Federal Reserve, Environmental Protection Agency (EPA), Housing and Urban Development (HUD), Inter-American Development Bank (IDB), Africa Development Bank (ADB), Unicef, Think Tanks etc. list goes on) or in any of the following private sectors:

Energy
Materials
Industrials
Consumer Discretionary
Consumer Staples
Health Care
Financials
Information Technology
Telecommunication Services
Utilities
Real Estate

Eleanya J. recommends the following next steps:

Look out for internships here - ECB, Bank of England, US Treasury, IMF, World Bank, Federal Reserve, EPA, HUD, IDB, Unicef, Think Tanks
Check out the World Bank's Young Professional Program https://www.worldbank.org/en/about/careers/programs-and-internships/young-professionals-program
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Matthew’s Answer

You can have a lot of careers options with a degree in Economics. I have my degree in Economics and I am a Financial Advisor with UBS. However, you can also go the route of financial analyst, trader, banking, or you can enter the corporate world. Even though Economics is more in line to the business world, you can really do anything you want with an Economics degree. Learn the markets and create your own business even!
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Dante’s Answer

You might want to look at Financial Literacy and Financial Advising. One issue we face in communities and parts of the world is the inability to be financially stable and to overcome personal destitute. Those two things may be worth exploring on behalf of a career outlook in economics if you don't want to deal with the Administration part of Economics involving the operations of money and finance.

There may be at least one or two organizations in your city or country that can assist in those two areas.

However, check this video out:

https://youtu.be/rZUh6qvMvNg
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James’s Answer

Hi Claudia - Economics is a great degree which leaves graduates with a broad scope of opportunities when contemplating careers.

The benefit that you have is that you can apply it to whichever career you find interesting. All industries have roles in business development, which allow you to use both the micro and macroeconomic elements of your undergraduate degree. The same can be said for consultancy, whereby you can specialize in an industry that fits with your interests.

If there were any modules that you particularly enjoyed, this could help make your decision.

Your degree does not limit you in the career that you want to pursue, even if it is something detached, such as working in education or law, you will be able to use the strengths you have listed. I would recommend looking at graduate schemes provided by some of the major corporates who provide services / products that you use or have brands that align with your values.

The other option is to take some additional time and consider a conversion course or a masters!
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Rebecca’s Answer

Thank you for your question.
In fact, having economics as the major, you have plenty of career choices. You can consider to work in Banks, Investment Bank, International Trading Companies, Government, Consultancy, Teaching, etc.
The careers choices are very wide. I suggest you can consider approach below :
1. Explore more on these careers and identify what careers you have interest on
2. Speak to someone who are working these careers if possible.
3. Seek advice from your mentor, career counselor in school, your parent, etc.
4. Shortlist 1-2 career you have interested on
5. Explore any intern opportunities in these careers
Hope this helps! Good Luck!
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Athena’s Answer

Hi Claudia -

Economics is a great degree! You have loads of options depending on where your passions lie. My cousin has an economics degree and is currently working as an analyst in marketing at a fashion retailer. It just goes to show you that there is a need for economics everywhere!

I would suggest exploring various industries so where what you are excited about - fashion, stocks, marketing, fundraising (there are tons of opportunities in non-for-profits), etc. This will help you start to pinpoint what opportunities are out there in the fields you feel passionate about.

Another suggestion is to keep your mind open because you might end up as a buyer in fashion or in marketing for non-for-profits. Keep an open mind and follow your passions for a once in a lifetime career!
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Eugenia’s Answer

if you are interested specifically in macroeconomics, you might consider working at research institutions or in international organizations related to international trade, helping to developing economies. As you seem to be located in London, you might find UK offices of various international organizations there. As a tip - I am sure lots of organizations in UK are currently struggling to solve and regulate all the issues related to Brexit. Lots of those issues are macroeconomics.
If you are able to consider moving from macro to corporate level, there are organizations counselling or assessing business, for example for reorganization or M&A purposes

Eugenia recommends the following next steps:

try to search for international organizations located in UK (key words - global trade, developing economies, global cooperation, World Bank)
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Justina’s Answer

Start talking to career adviser at school /or career department to help you navigate different internships/ volunteer opportunities. A great benefit of internships/ volunteer opportunities you get real life experience. But you also get an opportunity to see what else you can do with your knowledge and how different companies would apply economics within several departments outside accounting.
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THOMAS’s Answer

You're thinking too narrowly on placement years. My opinion is your degree is extremely transferrable to any area of business. Doing a placement year is perhaps the most valuable year of any sandwich degree. I did one and it got me to where I am today - it taught me what no university could. I suggest favouring organizations with world class placement year programs. Many of them will rotate you around areas of the business anyway - https://www.ratemyplacement.co.uk/best-student-employers is a good resource to use to see what good ones are out there.

I think trying to find a placement with a specific role or focus is a mistake and you'll learn less about what you like/dislike if you follow this path.
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Becky’s Answer

Please don't limit yourself to only accounting. There are loads of companies out there that have programs to jump start students in economics. Have you talked to your job placement department or career guidance counselor? Use your network of friends and family and see if anyone you know works at a company that offers a summer internship or entry job for graduates. You best bet is to network and get your connections to help you link up with a company to get your start. Best of luck! You are asking great questions. :)
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