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56 PhD jobs in Business and Economics

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Doctoral students in industrial product realisation

Join the research profile GRACE aiming at accelerating the green transition in the manufacturing industry! We like to welcome you to Jönköping University, Shool of Engineering and our department of...

Vacancy for two PhD researchers in Predictive and Prescriptive Process Modelling

You will work at the LIRIS research group of the Faculty of Economics and Business at KU Leuven. One position is hosted at KU Leuven, with an exchange period at University of Melbourne. The second ...

PhD position at the Department of Work and Organisation Studies (WOS)

The Department of Work and Organisation Studies (WOS) is an interdisciplinary group of about 50 scholars with backgrounds in economics, sociology, psychology, management, and history, bringing diff...

PhD Candidate: The Early Modern Economic and Social History Research Project ‘Business as Usual: the informal institutions of merchants in the early modern period’

Employment 0.8 - 1.0 FTEGross monthly salary € 2,770 - € 3,539Required background Research University DegreeOrganizational unit Faculty of ArtsApplication deadline 16 June 2024Are you intrigued by the world of early modern merchants? And are you w...

PhD Student - Department of Marketing, Innovation and Organisation

Last application date Jun 02, 2024 00:00Department EB23 - Department of Marketing, Innovation and OrganisationContract Limited durationDegree Master’s degree relevant for the research project and including a research-based Master’s thesis. Example...

Assistant department of Marketing, Innovation and Organisation (27158)

    →   Apply until 28/05/2024 (DD/MM/YYYY) 23:59 (Brussels time)    →   Faculty of Economics and Business Administration    →   Department EB23 - Department of Marketing, Innovation and Organisation    →   AAP temporary appointment - 100%    →   ...

PhD Position in Digital Identities for Regenerative Materials

PhD Position in Digital Identities for Regenerative MaterialsThe Chair of Circular Engineering for Architecture (CEA) at ETH Zurich is seeking a highly motivated and qualified individual to fill a ...

PhD on Revenue Management for Complex Stochastic Systems

Position PhD-studentIrène Curie Fellowship NoDepartment(s) Industrial Engineering and Innovation SciencesFTE 1,0Date off 09/06/2024Reference number V39.7474Job descriptionToday, many companies in various industries need to manage highly complex st...

PhD-positions in Finance

The Department of Finance at the University of Luxembourg invites students to apply for PhD-student positions in Finance.Your Role... The program follows the standard international format with rigorous coursework in the first year and for the rema...

Doctoral student in Statistics

Reference number ORU 2.1.1-03448/2024Örebro University and the School of Business are looking for a doctoral student for the doctoral programme in Statistics, concluding with a doctoral degree with a start date in Autumn 2024. The position(s) are ...

Doctoral Researcher in Modular Automation Solutions and Services (DSII)

Tampere University and Tampere University of Applied Sciences create a unique environment for multidisciplinary, inspirational and high-impact research and education. Our universities community has its competitive edges in technology, health and s...

Doctoral Researcher in Contemporary History

(Valid from 20/12/2023 to 31/05/2024)   Language: English (UK) Location Belval Country: Luxembourg   Organisation data: Luxembourg Center for Contemporary and Digital History Job Number: UOL06174 Contract Type: Fixed Term Contract Duration 36 Mont...

PhD on Wellbeing and justice implications of innovations and transitions

Position PhD-studentIrène Curie Fellowship NoDepartment(s) Industrial Engineering and Innovation SciencesFTE 1,0Date off 02/06/2024Reference number V39.7448Job descriptionAre you fascinated by the question of how we can transition to a circular an...

Doctoral scholarship inclusive leadership

Let’s shape the future - University of AntwerpThe University of Antwerp is a dynamic, forward-thinking, European university. We offer an innovative academic education to more than 20000 students, c...

Doctoral Candidate in Economic Geography

The University | About us...The University of Luxembourg is an international research university with a distinctly multilingual and interdisciplinary character. The University was founded in 2003 a...

Doctoral student (licentiate) in organising for energy efficient hospitals

Project descriptionThird-cycle subject: The Built Environment and Society: Management, Economics and LawEnergy usage is central in ensuring important properties of hospitals and in meeting the clim...

3 PhD research fellows (sociology, management, and human geography) in a research project on “Just Transition in the Circular Economy”

Short SummaryAt UCLouvain, are seeking to recruit 3 PhD research fellows in the following areasPhD1 - One doctoral fellowship in sociology and organization studies, with competences in settling of ethical conflicts in organizational settings, for ...

PhD on Circular and climate neutral pavement strategies– an assessment framework

Position PhD-studentIrène Curie Fellowship NoDepartment(s) Industrial Engineering and Innovation SciencesFTE 1,0Date off 02/06/2024Reference number V39.7456Job descriptionAre you fascinated by the question of how society can be carbon-neutral and ...

SNSF doctoral student in sociology (80-100%)

As part of the SNSF funded project « Democratizing the Economy through Consumers: Consumer-Owned Food Retailers and their Potentials for Fostering Economic Democracy », the Institute of sociology of the University Neuchâtel is looking for aSNSF do...

PhD Scholarship Autonomous Mobility

1 - Working at the VUBFor more than 50 years, the Vrije Universiteit Brussel has stood for freedom, equality and solidarity, and this is very much alive on our campuses among students and staff alike.  At the VUB, you will find a diverse collectio...

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Best Online Doctorates in Economics: Top PhD Programs, Career Paths, and Salary

The best online PhD in Economics offers a broad, comprehensive knowledge of how economics affects the global landscape. An online program at the doctoral level in economics provides graduates with the advanced analytical and critical thinking skills they need to build successful careers in banking, government, politics, healthcare, insurance, and non-profit sectors.

If you are looking to get an online PhD in Economics, then this article is for you. This guide contains a list of the best schools you can earn your economics PhD online, their admission requirements and tuition, as well as the economics jobs you’ll qualify for after graduating from business school.

Find your bootcamp match

Can you get a phd in economics online.

Yes, you can get a PhD in Economics online. Online degree programs offer students the opportunity to earn an economics doctoral degree without the inconvenience of taking physical classes on the university campus. Online graduate programs are a great choice for students who are restricted by geographical location or who prefer to take online classes.

Is an Online PhD Respected?

Yes, an online PhD is respected. They have the same coursework, curriculum, and degree requirements as in-person degrees. A survey by the Society for Human Resources Management on hiring practices and attitudes reported that 55 percent of organizations would not give preference to a candidate with an in-person degree over one with an online degree if both had the same job experience.

That being said, students need to ensure that they get their online degrees from an accredited online school . Accreditation demonstrates that a school meets the minimum acceptable academic standards set by an external accreditation body to be able to offer academic degrees. Checking a school’s accreditation status before beginning the application process is recommended.

What Is the Best Online PhD Program in Economics?

The best online PhD program in economics is the PhD in Public Policy – Economic Policy offered by Liberty University. Out of all the online doctoral degree programs on our list, Liberty University’s PhD in Public Policy – Economic Policy’s high-quality curriculum and faculty stand out among the others.

Why Liberty University Has the Best Online PhD Program in Economics

Liberty University has the best online economics PhD program because of its well-rounded curriculum, giving students a comprehensive understanding of national and global public and economic policies. Students take classes taught by industry leaders and experienced policymakers and take high-level courses in public and economic theory and policy, policy analysis, and research design.

Best Online Master’s Degrees

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Online PhD in Economics Admission Requirements

The typical admission requirements for an online PhD in Economics are a Master’s Degree in Economics or in a related field from an accredited institution with a minimum cumulative GPA of 3.0 on a 4.0 scale. Other common requirements include recommendation letters, an interview, your resume, a statement of purpose or personal statement, and professional work experience.

While the specific requirements will differ from one school to the next, prospective students are always required to submit their unofficial or official transcripts of all of their undergraduate and graduate coursework. Although some schools have waived this due to the pandemic, many require students to submit GMAT or GRE test scores as part of the application process.

• A Master’s Degree in Economics or in a related field from an accredited institution
• A minimum cumulative GPA of 3.0 on a 4.0 scale
• Three letters of recommendation
• A copy of your resume
• A statement of purpose or personal statement
• Professional work experience
• Your GMAT or GRE test scores
• An online interview

Best Online PhDs in Economics: Top Degree Program Details

Best online phds in economics: top university programs to get a phd in economics online.

The top university programs to get a PhD in Economics online are able to let students benefit from experiencing diverse cultures and learning from a high-quality curriculum with many research opportunities without having to relocate. It is a great option for students who want to balance school with work, family, or other personal commitments. Here are the best online PhDs in Economics.

California Baptist University was founded in 1950 and is located in the city of Riverside in Southern California. This private, Christian university offers a wide variety of bachelor’s, master’s, doctoral and associate degrees , as well as certificate programs in an in-person and online format.

Doctor of Business Administration

The online Doctor of Business Administration at California Baptist University is a 56-credit-hour doctorate program that equips students with the specialized skills and insights needed to achieve their career goals. Students will gain the tools and theoretical foundation to carry out research and develop actionable plans with the goal of solving complex business problems.

Doctor of Business Administration Overview

• Accreditation: Western Association of Schools and Colleges Senior College and University Commission
• Program Length: 3 years
• Acceptance Rate: N/A
• Tuition and Fees: $795/credit 

Doctor of Business Administration Admission Requirements

• A Master’s Degree in Business Administration from an accredited institution
• A copy of your resume with your work experience and education, and your leadership, professional and scholarly activities
• Meeting the professional guidelines set by the Accreditation Council for Business Schools and Programs (ACBSP)
• Your official transcripts

Hampton University , founded in 1861, is a dynamic institution of higher learning offering a wide range of technical, liberal, and arts degree programs at all education levels. Its 97 degree programs can be found in different fields of study, including business, engineering and technology, nursing, pharmacy, science, and liberal arts.

Doctor of Philosophy in Business Administration

This is a 60-credit-hour program for students aspiring to become consultants, researchers, and academicians in leadership roles in the industry. It is a hybrid program with two compulsory four-week summer residencies. Students take core courses in managerial economics, quantitative business analysis, and accounting.

Doctor of Philosophy in Business Administration Overview

• Accreditation: Southern Association of Colleges and Schools Commission on Colleges
• Tuition and Fees: $695/credit 

Doctor of Philosophy in Business Administration Admission Requirements

• A master’s degree from an accredited institution. Prerequisite courses may have to be taken depending on the master’s degree held
• A copy of your resume with at least three years of work experience relevant to the field of study
• A GMAT score of at least 400
• A written Statement of Career Plans or Professional Plans
• Your official transcripts 

Liberty University was founded in 1971 in Lynchburg, Virginia and is a private, Christian college offering world-class education. It has a total enrollment of over 100,000 students across its over 700 programs at all educational levels, including doctoral programs. The majority of its students are enrolled in online courses, making it one of the largest distance learning institutions in the country.

PhD in Public Policy - Economic Policy

This is a 60-credit hour program for students wanting to learn how to better serve the public interest and create actionable solutions to today’s global economic challenges. It provides the specialized knowledge that students need to land leadership job roles in government, consulting, and international organizations.

PhD in Public Policy - Economic Policy Overview

• Accreditation: Southern Association of Colleges and Schools Commission on Colleges 
• Tuition and Fees: $595/credit 

PhD in Public Policy - Economic Policy Admission Requirements

• Complete and submit an online application form
• A master’s degree with a minimum GPA of 3.0 on a 4.0 scale
• Pay a non-refundable $50 application fee
• Submit your official undergraduate and graduate transcripts

Marymount University is a private catholic university founded in 1950. Ranked 38th among the best southern regional universities by US News & World Report, it has over 4,000 students enrolled in its wide range of bachelor’s, master’s, and doctoral degree programs. Marymount combines theory with experiential learning to provide its students with valuable education, leading them to gratifying careers.

Online Doctor of Business Administration in Business Intelligence

Offered by Marymount’s College of Business, Innovation, Leadership, and Technology, this 36-credit program introduces students to real-world business intelligence tools currently used by professionals in leadership positions. Students develop analytical, higher-order thinking, and research skills and work on a doctoral research project that attempts to solve real-world issues.

Online Doctor of Business Administration in Business Intelligence Overview

• Accreditation: Southern Associations of Colleges and Schools Commission on Colleges 
• Tuition and Fees: $1,140/credit 

Online Doctor of Business Administration in Business Intelligence Admission Requirements

• A completed online application
• A master’s degree in a business or IT related field
• Five to 10 years of work experience
• A minimum GPA of 3.5
• A statement of research background and interest
• A writing sample

Founded in 1947 and headquartered in College Park, Maryland, the University of Maryland - Global Campus (UMGC) is the online division of the University System of Maryland. UMGC first began offering online courses in the mid-1990s and is now home to a wide range of bachelor’s, master’s, and doctoral programs obtainable fully online.

PhD in Business Administration

This 48-credit program provides its students with a solid foundation in economic theory and statistical methods. Offering advanced courses in data analytics, management solutions, and research methods, this terminal degree requires the completion of a 12-credit dissertation project.

PhD in Business Administration Overview

• Accreditation: Middle States Commission on Higher Education
• Acceptance Rate: NA
• Tuition and Fees: $1,087/credit 

PhD in Business Administration Admission Requirements

• Completed the Foundation of Doctoral Studies course with a minimum B grade
• Completion of UMGC’s online admission application
• A master’s degree
• Two professional references
• A personal statement
• A writing sample (optional)
• An interview, if requested by the UMGC admission committee

Online Economics PhD Graduation Rates: How Hard Is It to Complete an Online PhD Program in Economics?

It is very hard to complete an online PhD in Economics. This can be attributed to the stress students experience, as well as lack of motivation. Those that want to pursue a PhD must be certain that they are academically and financially prepared.

How Long Does It Take to Get a PhD in Economics Online?

It takes about three years to get a PhD in Economics online. Although, it can take as long as seven or eight years, depending on the school’s curriculum, learning pace, and specialization. Over these three years, students need to complete a certain number of courses, pass written or oral exams, and research and write a dissertation on their chosen research topic.

How Hard Is an Online Doctorate in Economics?

An online Doctorate in Economics is very hard. It is a broad, multidisciplinary degree that involves the study of complex business, sociology, mathematics, and accounting topics. Students in an online Doctoral Degree in Economics take advanced courses that require strong skills in critical thinking and complex mathematical models to succeed.

The overall level of difficulty of an online PhD in Economics depends on a student’s academic foundation and their chosen program’s curriculum. Programs offered at universities with a higher reputation or higher school ranking are usually more difficult. That being said, these programs will usually better prepare you for the real world and impress potential employers.

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Best PhD Programs

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What Courses Are in an Online Economics PhD Program?

An online economics PhD program includes courses such as Economic History, Economics and Public Policy, Policy Analysis and Research Design, Introduction to Economic Policy Studies, and Managerial Economics. These courses will prepare you for a long and lucrative career in the industry and equip you with the skills you need.

Main Areas of Study in an Economics PhD Program

• Economic history
• Economics and public policy
• Policy analysis and research design
• Introduction to economic policy studies
• Managerial economics

How Much Does Getting an Online Economics PhD Cost?

It costs around $19,314 per year to get an online PhD in Economics, according to the National  Center for Education Statistics. However, this is a ballpark estimate. The actual amount you will spend to get an online economics PhD largely depends on whether the school is public or private. On top of tuition costs, you also need to consider fees, study material costs, and other miscellaneous expenses.

How to Pay for an Online PhD Program in Economics

You can pay for an online PhD program in economics through an upfront payment, grants and scholarships, employer tuition reimbursement, government loans, and private loans. Students in the Peace Corps, AmeriCorps, and the US Military can also benefit from tuition reduction. For example, Liberty University offers their doctoral degree for $300 per credit for members of the military, which is an almost 50 percent discount.

How to Get an Online PhD for Free

You can’t get an online PhD for free. All legitimate PhD programs charge tuition, and there are no fully funded online PhDs in Economics. That being said, students needing financial aid can inquire about available scholarships and grants offered by their school. Online PhD students can register for the Free Application for Federal Scholarship Aid.

What Is the Most Affordable Online PhD in Economics Degree Program?

The most affordable online PhD in Economics is the PhD in Public Policy – Economic Policy offered by Liberty University. At $595 per credit, this 60-credit program costs a total of $35,700 in tuition. Compared to the most expensive program on our list, which costs approximately $52,000, you could save up to $16,300.

Most Affordable Online PhD Programs in Economics: In Brief

Why you should get an online phd in economics.

You should get an online PhD in Economics because it’ll provide you with specialized knowledge of economics and equip you with the in-demand skills you’ll need to work in leadership positions across the fields of politics, history, business administration, and finance. A PhD is the highest level of education you can get and will give you a leg up over other candidates during the hiring process.

Top Reasons for Getting a PhD in Economics

• Increased job opportunities. A PhD in Economics will make you more attractive to employers looking to fill high-level leadership positions in the industry. PhD graduates have more career options than lower-level degree holders.
• Enhanced earning potential. A PhD in Economics can improve your earning potential. The US Bureau of Labor Statistics reports that PhD holders have a median weekly salary of $1,885. This is higher than the salary for master’s and bachelor’s degree graduates.
• Higher employment rate. The skills and knowledge that economics doctoral degree holders have can qualify them for a wider range of positions. In fact, the US Bureau of Labor Statistics also reports that PhD holders have a higher employment rate than all other degree holders.
• Specialized skills. Getting a PhD will provide you with advanced technical skills in your field of study as well as transferable soft skills. Both of these hard and soft skills are things you need to succeed in the highest possible career after graduation.

Best Master’s Degree Programs

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What Is the Difference Between an On-Campus Economics PhD and an Online PhD in Economics?

The difference between an on-campus economics PhD and an online PhD in Economics is each program’s cost, flexibility, interactivity with faculty and fellow students, and availability of funding. While their course content and curricula may be alike, there are a few differences between an online economics PhD and an on-campus PhD in Economics.

Online PhD vs On-Campus PhD: Key Differences

• Cost. Online doctoral programs usually cost less than on-campus degrees. Not only is the tuition itself usually lower for an online program, but you’ll also avoid needing to pay additional fees related to transportation, student accommodation, and labs or study materials.
• Flexibility. Students in on-campus programs have to be physically present at specific times and locations on the school campus to take classes, while online PhD students can take their classes from the comfort of their homes. Many online courses are also asynchronous and can be taken when convenient.
• Interactivity. Students in an on-campus PhD program enjoy physical interaction with faculty and peers, which can help with learning and motivation. On the other hand, online students have to employ virtual platforms to contact faculty at scheduled times.
• Availability of funding. There are more funding opportunities for on-campus students than students in online programs. On-campus students usually have access to fellowships, teaching assistantships, and research assistantships.

How to Get a PhD in Economics Online: A Step-by-Step Guide

To get a PhD in Economics online, you need to gain admission into an accredited university, complete your course credit requirements, pass all examinations, get your dissertation project topic approved, research your dissertation topic, and defend what you wrote during the final stage of the dissertation process. Doctorate programs take a lot of work to complete, but knowing what to expect will help you prepare.

The first step you need to take to get a PhD in Economics online is to look for schools that offer the program and that offer the specific specialization that you want to study. Afterward, you should review each program’s admissions requirement for prospective students. Once you’ve gathered your application materials, you’re ready to apply to your desired doctorate degree programs.

All doctoral students need to complete a certain number of online courses. Some schools also have residency requirements. While these are less common for online programs, residencies do require in-person attendance. Make sure to review the delivery format of each of the doctoral programs you’re interested in before enrolling.

During your PhD program, you will have to pass certain examinations. These examinations are used by the faculty at graduate schools to track and gauge your progress and understanding of the course material. You won’t be able to graduate without passing your examinations.

As you complete your classes, you will also need to pick a dissertation topic and get it approved by the faculty. Your dissertation is a long-term research project that you must complete along the course of your PhD program. Make sure to pick a topic you’re interested in as it’ll make the research process much more enjoyable.

After getting your topic approved, you will be able to start your research, which you will work on either at the same time as or after your course requirements. You will be asked to demonstrate your progress to your dissertation supervisor many times during your studies. It’s typical for 12 of your required credits to be dedicated to your dissertation.

As you research your dissertation project, you will need to write a paper on your findings under the guidance, support, and supervision of your program’s faculty. Once you’ve completed your research and finished writing your paper, you will need to explain and defend your findings to your program’s faculty. Once you pass, you will be able to get your PhD.

Online PhD in Economics Salary and Job Outlook

Online economics PhD graduates can earn between $77,427 and $153,460 per year, depending on their job title, location, employer, and experience. An online PhD in Economics will provide you with the skillset needed to land high-paying roles in different sectors, including academia, business, finance, government, and politics.

What Can You Do With an Online Doctorate in Economics?

With an online Doctorate in Economics, you can become an economic consultant, postsecondary professor of economics, economist, financial manager, and financial analyst. Some of these roles are high-paying senior-level positions requiring applicants to hold a PhD.

Best Jobs with a PhD in Economics

• Economic Consultant
• Postsecondary Professor of Economics
• Financial Analyst
• Financial Manager

Potential Careers With an Economics Degree

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What Is the Average Salary for an Online PhD Holder in Economics?

The average salary for a PhD holder in Economics is $110,000 per year , according to PayScale. PhD graduates can qualify for a wide range of high-paying positions across many industries. Keep in mind that your actual annual salary can vary depending on factors such as location, years of experience, industry, and position.

Highest-Paying Economics Jobs for PhD Grads

Best economics jobs for online phd holders.

Knowing the best economics jobs for online PhD holders will help you decide whether or not it’s worth it for you to embark on the long journey of earning your PhD. In this section, we’ve  put together a list of the best economics jobs for online PhD holders, a description of what they do, their job outlook, the number of jobs, and the highest-paying states.

Financial managers coordinate banking, accounting, insurance, security, and other financial operations in an organization. Financial management includes ensuring good financial health, monitoring cash flow, managing an organization’s expenses, analyzing profitability, and providing accurate financial information.

• Salary with an Economics PhD: $131,710
• Job Outlook: 17% job growth from 2020 to 2030
• Number of Jobs: 681,070
• Highest-Paying States: New York, Delaware, New Jersey, Colorado, District of Columbia

Economists collect and analyze data to study the relationship between economic resources and the production and distribution of goods and services. They conduct surveys and review economic problems to find actionable solutions. They also advise businesses and organizations on economic issues.

• Salary with an Economics PhD: $105,630
• Job Outlook: 13% job growth from 2020 to 2030
• Number of Jobs: 18,600
• Highest-Paying States: New York, District of Columbia, California, New Hampshire, Illinois

Professors of economics teach in economics departments at a university. They prepare and deliver lectures, examinations, and curricula for undergraduate and graduate economics students. They also conduct research and publish their findings to contribute to the field of economics.

• Salary with an Economics PhD: $96,198
• Job Outlook: 12% growth from 2020 to 2030
• Number of Jobs: 1,276,900
• Highest-Paying States: New Hampshire, Montana, California, Indiana, District of Columbia

Financial analysts study current and past financial data and economic trends to gain a better understanding of a company’s financial health. They advise the organization on the best investments to make to help them maximize profits according to the data they’ve studied.

• Salary with an Economics PhD: $81,410
• Job Outlook: 6% job growth from 2020 to 2030
• Number of Jobs: 492,100
• Highest-Paying States: New York, Alaska, Connecticut, District of Columbia, Wyoming

Economic consultants develop plans to improve the policies and operations of the company they work for to increase their economic gains. They conduct surveys and create forecasts to discover economic trends to improve the company’s practices. They also work in the production, budgeting, and accounting department to optimize quality control practices.

• Salary with an Economics PhD: $77,427

Is It Worth It to Do a PhD in Economics Online?

Yes, it is worth it to do a PhD in Economics online because it allows you to get advanced education and expertise in economics from the comfort of your home while preparing you to land high-profile positions where you can make an impact on the world. Economics PhD graduates gain advanced knowledge in the theoretical foundations, methodology, and philosophy of economics.

Additional Reading About Economics

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Online PhD in Economics FAQ

Yes, you can do a PhD in Economics entirely at a distance. An increasing number of schools are beginning to offer completely online economics PhD programs for distance learners. Online degrees are respected by hiring managers as well and are considered as good as in-person degrees.

No, you can not get a PhD in Economics in one year. It usually takes a minimum of three years to complete the graduate degree requirements. This includes the credit requirements and dissertation paper.

Yes, it is possible to do a PhD in Economics without a master’s. Although the typical requirements for a PhD program include having an in-person or online Master’s Degree in Economics or relevant field from an accredited institution, some schools allow students to apply to their PhD program without one.

No, 50 is not too late to get a PhD. There is no age limit in the pursuit of higher education, and you can go back to college at 50 or at any time you want. Anyone can enroll in a PhD program regardless of age. All it takes is the willingness to learn and the determination to succeed. In fact, your work experience can help you get into a PhD program.

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Top 15 Highest Paying Jobs For Economics Majors 2024 (Inc Salaries)

Discover the top 15 highest paying jobs for economics majors in 2024, including salaries and potential career paths for economics degree holders.

By definition, economics focuses on efficiency in production and exchange. There's microeconomics, macroeconomics, market economy, mixed economy, command economy, etc. But why should people care about economics, much less attempt to forge a career out of it?

Well, economics is crucial for understanding and navigating the complex web of decisions that shape our societies and individual lives. At its core, economics examines how individuals, businesses, and governments allocate scarce resources to satisfy unlimited wants and needs. It provides valuable insights into the functioning of markets, the impact of policies on economic growth, and the distribution of wealth and resources. It also helps us make informed choices by analyzing trade-offs and opportunity costs, guiding individuals and policymakers in optimizing their decisions. But to make all of that happen, you need people to drive the process, which means that choosing a career in economics will offer a myriad of benefits.

A career in economics with an economics degree opens doors to diverse opportunities with the best jobs, including roles in finance, policy analysis, research, consulting, and academia. Also, economists play a crucial role in shaping public policies, influencing business strategies, and contributing to global development, so the demand for skilled economists remains robust, offering stable and potentially lucrative career paths.

Overall, forging a career in economics not only offers financial stability but also the satisfaction of making a positive impact on the world through informed analysis and decision-making.

With that being said, let's jump into the best paid jobs for economics graduates:

Top 15 Best Paying Jobs For Economics Majors 2024 (Inc Salaries

1. economist.

An Economist is a professional who studies and analyzes the production, distribution, and consumption of goods and services to understand and explain how economies function. They apply various theories, models, and statistical methods to examine economic phenomena, such as market behavior, government policies, and societal trends, and their work often involves conducting research, collecting and analyzing data, and providing insights into economic issues. Generally, they tend to work in diverse settings, including government agencies, academic institutions, financial institutions, corporations, and international organizations.

Becoming an economist typically involves a combination of education, skill development, and practical experience, but generally you will require at least a bachelor's degree in economics or a related field like finance, mathematics, or statistics. Considering advanced degrees such as a master's degree in economics, while some entry-level positions may accept candidates with a bachelor's degree, many economist roles, especially those in research or policy analysis, require a master's or Ph.D. in economics. Cultivating strong analytical skills, as economists need to analyze and interpret data, trends, and economic indicators. Mastering quantitative methods, including mathematical modeling and statistical analysis. Familiarizing yourself with relevant software tools such as R, Python, or statistical packages like Stata.

The average annual salary for an Economist in the US job market is $113,809  and is one of the best jobs for economics majors.

2. Market Research Analyst

A Market Research analyst is a professional who gathers, analyzes, and interprets data about a specific market, industry, or product to provide insights that can aid in decision-making for businesses and organizations. Analysts work and play a critical role in helping companies understand market trends, consumer preferences, and competitive landscapes, and their work involves employing various research methods, such as surveys, interviews, focus groups, and data analysis, to collect relevant information.

Becoming a market research analyst typically involves a combination of education, skill development, and practical experience, but generally you will need a bachelor's degree, as many market research analyst positions require a bachelor's degree in market research, marketing, business, statistics, economics, or a related field. Considering obtaining a master's degree, especially if you want to get into fields like market research, business analytics, or data science, Gaining proficiency in data analysis is important, as market research analysts need strong quantitative and data analysis skills. Acquiring knowledge of various research methodologies, including surveys, interviews, focus groups, and observational studies. Developing strong written and verbal communication skills is important as market research analysts need to convey their findings and insights effectively. Learning to use tools commonly used in market research, such as survey software, statistical analysis software (e.g., SPSS, R), and data visualization tools (e.g., Tableau).

The average annual salary for a Market Research Analyst in the US is $64,795 .

3. Financial Analyst

A Financial Analyst is a professional who analyzes financial data and trends to provide insights and recommendations that help businesses and individuals make informed financial decisions. They work in various industries, including finance, investment banking, corporate finance, and consulting, and their primary responsibilities include assessing the performance of investments, preparing financial reports, evaluating financial statements, and making recommendations for improving financial performance.

Becoming a financial analyst typically involves a combination of education, skill development, and practical experience, but generally you will require: A bachelor's degree in finance, accounting, business, economics, or a related field. Acquiring proficiency in financial modeling, including forecasting, budgeting, and scenario analysis. Developing strong quantitative and data analysis skills. Obtaining a master's degree in finance, business administration (MBA), or a related field can enhance your qualifications and open up more advanced career opportunities. Pursuing professional certifications such as the Chartered Financial Analyst (CFA) or Financial Risk Manager (FRM) will demonstrate expertise and enhance your marketability. 

The average annual salary for a Financial Analyst in the US is  $76,582  making it one of the best degree jobs.

An Actuary is a professional who applies mathematical, statistical, and financial techniques to assess and manage various forms of risk. They play a crucial role in the insurance industry, pensions, and other financial sectors, where their expertise is used to analyze and quantify the financial implications of uncertain future events, and their primary goal is to help organizations make informed decisions regarding risk and uncertainty.

Becoming an actuary involves a structured process that includes education, passing actuarial exams, gaining practical experience, and obtaining professional designations, but generally you will require: A bachelor's degree in actuarial science, mathematics, statistics, finance, or a related field. Passing a series of actuarial exams to demonstrate proficiency in various areas. These exams are typically administered by actuarial organizations such as the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS). Achieving an associate-level designation. After passing the initial series of exams, you can earn an associate-level designation from the SOA or CAS. This may include designations like Associate of the Society of Actuaries (ASA) or Associate of the Casualty Actuarial Society (ACAS). To obtain fellowship and reach the highest level of professional recognition, actuaries can pursue fellowship by completing additional exams and demonstrating relevant work experience.

The average annual salary for an Actuary in the US is $141,889 . making it one of the best economics job opportunities. 

5. Business Analyst

A Business Analyst is a professional who acts as a bridge between business stakeholders and technology teams. Their primary role is to analyze business processes, identify areas for improvement, and propose solutions that align with the organization's goals and objectives. They generally work across various industries and are involved in projects related to system implementation, process improvement, and business strategy.

Becoming a business analyst typically involves a combination of education, skill development, and practical experience, but generally you will require: A bachelor's degree in business, information technology, management, or a related field. Obtaining additional training or certifications in business analysis. Organizations like the International Institute of Business Analysis (IIBA) offer certifications such as the Entry Certificate in Business Analysis (ECBA) or the Certification of Capability in Business Analysis (CCBA). Honing your ability to analyze data, identify patterns, and make informed decisions based on business needs. Familiarize yourself with tools commonly used in business analysis, such as Microsoft Excel, Visio, project management software, and requirements management tools. Considering pursuing advanced degrees or certifications as you gain more experience.

The average annual salary for a Business Analyst in the US is $93,359  making it one of the best jobs for economics degree holders.

6. Accountant

An Accountant is a professional responsible for managing financial records, preparing financial statements, and ensuring compliance with relevant financial regulations. They play a critical role in organizations by helping to maintain accurate financial records, providing insights into the financial health of the business, and supporting decision-making processes. Accountants may specialize in various areas, such as public accounting, corporate accounting, government accounting, or forensic accounting. Public accountants often work for accounting firms and serve multiple clients, while corporate accountants are employed by businesses to manage internal financial functions.

Becoming an accountant typically involves a combination of education, practical experience, and, in some cases, obtaining professional certifications, but generally, you will require: A bachelor's degree in accounting, finance, or a related field. Pursuing advanced degrees, such as a master's in accounting or an MBA, Considering obtaining professional certifications to enhance your qualifications and marketability? The Certified Public Accountant (CPA) designation is one of the most widely recognized certifications for accountants in the United States. Other certifications include Certified Management Accountant (CMA), Chartered Global Management Accountant (CGMA), and Certified Internal Auditor (CIA). Developing proficiency in accounting software and tools commonly used in the industry involves familiarizing yourself with spreadsheet software like Microsoft Excel and accounting software such as QuickBooks or SAP.

The average annual salary for an Accountant in the US is  $62,501 . 

7. Data Analyst

A Data Analyst is a professional who collects, processes, and analyzes data to help organizations make informed decisions. They play a crucial role in extracting meaningful insights from raw data, identifying trends, and providing actionable information to support business strategies, and work with various types of data, including numerical, textual, or visual, and use statistical and analytical techniques to interpret patterns and draw conclusions.

Becoming a Data Analyst involves a combination of education, skills development, and practical experience, but generally you will require: A bachelor's degree in a relevant field such as statistics, mathematics, computer science, economics, or a related discipline. Pursuing specialized training programs or degrees in data analytics, data science, or business analytics. Acquiring proficiency in statistical analysis techniques, hypothesis testing, and regression analysis. Learning how to clean and preprocess data to ensure its quality and accuracy for analysis. Familiarizing yourself with data visualization tools such as Tableau, Power BI, or matplotlib/seaborn in Python. Learning SQL (Structured Query Language) to retrieve and manipulate data from relational databases. Gaining proficiency in programming languages commonly used in data analysis, such as Python or R. Familiarizing yourself with popular data analysis tools and libraries, such as Pandas and NumPy in Python, or dplyr and ggplot2 in R. Considering pursuing relevant certifications to demonstrate your expertise. Certifications from organizations like Microsoft, IBM, or Google can enhance your credibility as a Data Analyst. 

The average annual salary for a Data Analyst in the US is  $76,698  making it a top job for a person with a good knowledge of economics.

8. Research Assistant

A Research Assistant is an individual who provides support to researchers in various fields by assisting with the planning, execution, and documentation of research projects. They play a crucial role in academic and non-academic research settings, contributing to the advancement of knowledge and the completion of research objectives, and their tasks can vary widely depending on the nature of the research project and the specific requirements of the research team.

Becoming a research assistant involves a combination of education, skill development, and actively seeking opportunities in research settings, but generally you will require: Obtaining a relevant educational background in areas such as psychology, biology, sociology, economics, or any other field with research components. Honing your research skills, including literature review, data collection, data analysis, and writing. Developing proficiency in software such as Microsoft Excel, statistical analysis tools (e.g., SPSS, R), and any other tools specific to the research area. Seeking out courses that enhance your research-related skills, such as research methods, statistics, or experimental design.

The average annual salary for a Research Assistant in the US is $39,000 .

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9. Pricing Analyst

A Pricing Analyst is a professional responsible for evaluating and setting prices for products or services within a business. Their role involves analyzing market trends, competitive landscapes, and cost structures to determine optimal pricing strategies, and they play a crucial role in helping businesses maximize revenue, achieve profitability, and stay competitive in the market.

Becoming a pricing analyst typically involves a combination of education, skill development, and practical experience, but generally you will require: A bachelor's degree in a relevant field such as business, finance, economics, or a related discipline. Honing your analytical skills, including proficiency in data analysis and statistical methods, Familiarize yourself with tools like Microsoft Excel or statistical software that pricing analysts commonly use. Developing a strong understanding of the industry or industries you are interested in is important, as different sectors may have unique pricing challenges and considerations. Familiarize yourself with pricing software and tools commonly used in the industry, which may include pricing optimization software, analytics platforms, and other relevant tools. Enhancing your proficiency in using financial modeling tools and spreadsheet software. Considering pursuing advanced degrees such as a master's in business administration (MBA) with a focus on pricing strategy or a related field? Exploring relevant certifications that demonstrate your expertise in pricing analysis. For example, certifications in financial modeling, data analytics, or pricing strategy may be beneficial.

The average annual salary for a Pricing Analyst in the US is $67,704 .

10. Compensation and Benefits Manager

A Compensation and Benefits Manager, also known as a Total Rewards Manager, is responsible for designing, implementing, and managing an organization's compensation and benefits programs. The role involves developing strategies to attract, motivate, and retain employees by offering competitive and equitable compensation and benefits packages, and generally, they work to ensure that an organization's reward systems align with its overall business objectives and support the attraction and retention of a talented workforce.

Becoming a Compensation and Benefits Manager typically involves a combination of education, relevant experience, and the development of specific skills, but generally you will require: A bachelor's degree in human resources, business administration, finance, or a related field. Doing coursework related to compensation, benefits administration, human resources management, and organizational behavior. Honing your analytical skills is important as compensation and benefits managers need to analyze market data, conduct cost-benefit analyses, and evaluate the effectiveness of compensation and benefits programs. Gaining proficiency in using tools such as Microsoft Excel for data analysis and financial modeling. Considering pursuing certifications or additional training programs related to compensation and benefits. Certifications such as Certified Compensation Professional (CCP) or Professional in Human Resources (PHR) can enhance your qualifications. Obtaining a master's degree in human resources, business administration, or a related field which can enhance your credentials and position you for more senior roles.

The average annual salary for a Compensation and Benefits Manager in the US is  $133,368  making it one of the top jobs for economics majors.

11. Policy Analyst

A Policy Analyst is a professional who analyzes and evaluates public policies, providing insights and recommendations to policymakers, government agencies, non-profit organizations, or other entities. They play a crucial role in the policy development process by researching, interpreting data, and assessing the potential impact of proposed policies, and their work aims to inform decision-makers about the effectiveness, feasibility, and implications of various policy options.

Becoming a policy analyst typically involves a combination of education, relevant experience, and the development of specific skills, but generally you will require: A bachelor's degree in a relevant field such as political science, public policy, public administration, economics, sociology, or a related discipline. Pursuing a master's degree in public policy, public administration, or a related field will enhance your knowledge and qualifications. Honing your analytical skills is important, as policy analysts are often required to analyze complex data, research findings, and policy options. Developing proficiency in quantitative and qualitative research methods. Gaining experience with statistical analysis tools, data visualization tools, and spreadsheet software. Considering pursuing an advanced degree, such as a master's or a Ph.D., in public policy, public administration, or a related field? Advanced degrees may open up higher-level and more specialized opportunities in policy analysis.

The average annual salary for a Policy Analyst in the US is $81,139 making it a lucrative job for a person with an economics education in the next 10 years.

12. Business News Reporter

A Business News Reporter is an economics journalist who specializes in covering news and events related to the business world. They work for various media outlets, including newspapers, magazines, online publications, television, and radio stations, providing coverage of financial markets, corporate developments, economic trends, and other business-related topics, and play a crucial role in keeping the public informed about important business events, analyzing economic data, and reporting on the impact of business decisions on various stakeholders.

Becoming a business news reporter involves a combination of education, practical experience, and developing key skills, but generally you will require: A bachelor's degree in journalism, communications, or a related field. Taking courses that provide a strong foundation in journalism, news writing, and media ethics. Hone your writing skills by consistently producing well-researched and well-written articles. Familiarize yourself with digital tools and platforms commonly used in modern journalism. This includes content management systems, social media, and multimedia reporting. Pursuing advanced degrees in journalism or a related field is especially important if you aim for specialized reporting roles or positions in management.

The average annual salary for a Business News Reporter in the US is $45,788 .

13. Environmental Economist

An Environmental Economist is a professional who applies economic principles and methods to analyze and address environmental issues. They play a crucial role in providing insights into how economic activities affect the environment and how environmental policies can be designed to achieve both economic and environmental goals. This interdisciplinary field combines economic theories with environmental science to assess the economic impact of environmental policies, natural resource management, and sustainable development strategies.

Becoming an environmental economist involves a combination of education, specialized training, and practical experience, but generally you will require: A bachelor's degree in economics, environmental economics, environmental science, or a related field. Pursuing a master's or doctoral degree in environmental economics or a closely related discipline. Honing your analytical and quantitative skills is important, as environmental economists often use economic models and statistical methods to analyze data and evaluate policies. Familiarizing yourself with relevant software tools and programming languages commonly used in economic analysis, such as R, Python, or specialized environmental economics software. Considering obtaining professional certifications, such as those related to environmental impact assessment or economic analysis, to enhance your credentials. Acquiring additional skills that are in demand in the field, such as geographic information system (GIS) proficiency or expertise in specific economic modeling techniques.

The average annual salary for an Environmental Economist in the US is $90,489  making it one of the top 10 jobs in economics.

14. Insurance Underwriter

An Insurance Underwriter is a professional responsible for evaluating and assessing the risk associated with insuring individuals or entities. Their primary role is to analyze information provided in insurance applications, determine the level of risk involved, and decide whether to approve or deny insurance coverage. They also play a critical role in helping insurance companies maintain a balanced portfolio by making informed decisions on policy issuance and pricing.

Becoming an insurance underwriter typically involves a combination of education, relevant experience, and the development of specific skills, but generally you will require: A bachelor's degree in a relevant field such as finance, business, economics, or mathematics. Honing your analytical skills is important, as underwriters need to analyze complex information to assess risk. Acquiring a solid understanding of insurance principles, terminology, and underwriting guidelines. Familiarize yourself with different types of insurance, including property and casualty, life, health, and specialty lines. Obtaining industry-recognized certifications will enhance your qualifications. The Insurance Institute of America (IIA) offers certifications such as the Associate in Commercial Underwriting (AU) or the Associate in Personal Insurance (API).

The average annual salary for an Insurance Underwriter in the US is $76,756  making it one of the best job options for those that chose to pursue an economics degree. 

15. Statistician 

A Statistician is a professional who specializes in the field of statistics, which involves the collection, analysis, interpretation, presentation, and organization of data. They apply mathematical and statistical theories to design experiments, conduct surveys, and analyze data sets, helping businesses, researchers, and policymakers make evidence-based decisions, and play a crucial role in various industries and disciplines by using statistical methods to draw meaningful insights and make informed decisions based on data.

Becoming a Statistician typically involves a combination of education, practical experience, and the development of specific skills, but generally you will require: A bachelor's degree in statistics, mathematics, data science, or a related field. Taking additional courses in computer science, programming languages (such as R or Python), and data visualization to enhance your skills. Pursuing a master's or doctoral degree in statistics or a closely related field for more advanced and specialized roles, especially if you are interested in research or academia. Honing your analytical and problem-solving skills, as Statisticians need to be able to analyze complex data sets, identify patterns, and draw meaningful conclusions. Familiarizing yourself with statistical software packages commonly used in the field, such as R, Python, SAS, or SPSS. Strengthening your mathematical skills, especially in areas such as calculus, linear algebra, and probability theory, as a strong mathematical foundation is crucial for advanced statistical analysis. 

The average annual salary for a Statistician in the US is  $94,984  making it one of the top economist jobs.

Conclusion 

Pursuing a career in the field of economics offers a multitude of benefits and opportunities. Economics serves as a dynamic and influential discipline that not only explores the fundamental principles governing resource allocation, market dynamics, and policy formulation but also plays a pivotal role in shaping the socio-economic landscape.

Engaging in economics provides individuals with a toolkit of analytical skills, including quantitative analysis, critical thinking, and problem-solving, which are highly valued across various industries, and it allows professionals to contribute meaningfully to diverse sectors such as finance, government, consulting, research, and academia. Last but not least, the demand for economists remains strong, with opportunities for both entry-level positions and advanced roles that come with competitive salaries. As global economies continue to evolve and face new challenges, the skills acquired in economics become increasingly relevant, positioning individuals for long-term career growth and adaptability.

If you're ready to take on the world of economics head-on and build a long and lucrative career as, say, a Data Scientist, Financial Manager, or Management Consultant, you'll need hard work and show dedication, but also exhibit highly specialized skills that can be obtained by attending a college or university that offers a  MBA or a BBA undergraduate degree from a US accredited university like  Nexford .

What is the highest paying job for economics majors in 2024?

Experts and job sites such as LinkedIn, Indeed, and Glassdoor may vary in their opinion, but across the board, the one economics position that on average seems to pay the most out of any job in the industry is that of an Actuary who can expect to earn $141,889  in the US.

What are the most in-demand skills needed to get into a high paying job in economics? 

To secure a high-paying job in economics, it's essential to possess a combination of technical, analytical, and communication skills. Here are some of the most in-demand skills that can contribute to a successful career in economics: Proficiency in quantitative analysis that includes a strong foundation in statistics, econometrics, and mathematical modeling. Understanding and applying econometric modeling techniques is important for conducting empirical research and drawing meaningful conclusions from data.

Becoming familiar with regression analysis, time-series analysis, and other advanced econometric methods. Building proficiency in programming languages such as Python and R which are commonly used in economic research and analysis. Understanding economic policies and their implications is crucial, especially for roles in government, think tanks, or policy research institutions. Having a proficiency in financial analysis that includes understanding financial statements, conducting cost-benefit analysis, and evaluating investment decisions. Developing strong critical thinking skills which are necessary for analyzing economic problems, developing hypotheses, and proposing solutions.

Learn how to develop the most in-demand skills for your future career!

Discover how you can acquire the most in-demand skills with our free report, and open the doors to a successful career. 

How can I improve my chances of getting a high-paying economics career? 

Improving your chances of securing a high-paying career in economics involves a combination of education, skill development, networking, and strategic career planning. Here are some tips to enhance your prospects: Obtain a solid educational background in economics or a related field. Consider pursuing a master's or doctoral degree for more advanced roles, particularly in research or academia. Specialize in a particular area of economics can make you more valuable. Focus on a niche such as health economics, environmental economics, financial economics, or any other area of interest.

Develop strong technical skills in quantitative analysis, econometrics, and statistical modeling. Proficiency in programming languages like Python or R, as well as data visualization tools, adds value in many economic roles. Join professional organizations such as the American Economic Association (AEA) and participate in online forums and discussions. Consider obtaining certifications that are recognized in the economics field. For example, the Chartered Financial Analyst (CFA) designation can be valuable for roles in financial economics. Stay informed about current events, economic trends, and industry-specific knowledge. Understand how economic principles apply to different sectors, and be able to communicate the implications of economic trends for businesses or policymakers.

Is a graduate degree really necessary to get the best paying economics job?

While a graduate degree can significantly enhance your qualifications and open up more advanced and specialized opportunities in the field of economics, it is not always absolutely necessary to secure a well-paying job. The importance of a graduate degree depends on several factors, including the specific role you are targeting, the industry, and your career goals.

When evaluating if you do or don't consider: For entry-level positions in economics, especially in areas such as economic analysis, research assistant roles, or certain government positions, a bachelor's degree may be sufficient. Certain high-paying roles or specialized positions, such as senior economist, econometrician, or research economist in specific industries, may require a master's or doctoral degree. Advanced degrees, such as a master's or Ph.D., are often associated with higher levels of expertise and can lead to increased responsibilities and higher-paying roles. If you aspire to work in academia, conduct independent research, or contribute to economic policy development at a higher level, a Ph.D. is typically necessary. In some cases, gaining substantial work experience and building a strong professional network can compensate for the lack of an advanced degree. Relevant experience, skills, and a robust professional network can open doors and demonstrate your capabilities to potential employers.

Mark is a college graduate with Honours in Copywriting. He is the Content Marketing Manager at Nexford, creating engaging, thought-provoking, and action-oriented content.

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Ph.D Economics Jobs, Scope, Salary in India

PhD Economics jobs for graduates are available at a variety of job-related consultancies, both public and private. These are some of the fields to which students can apply for jobs after PhD in Economics are coaching centers, economics consultancies, economics departments, home tuitions, museums, private tuitions, publishing houses, research and development agencies, and schools. Jobs for Economics PhD holders include Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, and Industrial Organization Economists. 

Career Prospects and Job Scope for PhD Economics Course 

The PhD in Economics course can prepare students for jobs after PhD in Economics in a variety of research and development agencies and schools. Research and development jobs in the field of Economics in India have a vast scope and are expected to increase rapidly. Graduates of the PhD Economics program acquire skills and qualifications that can be applied to their careers as economic scientists.

Following completion of a Doctorate of Philosophy in Economics program in India, students may choose from a variety of specializations, depending on their interests and abilities. PhD in Economics scope and salary in India vary depending on the education and experience of the students. A wide variety of career paths is available to graduates of the PhD program in Economics.Career after PhD in Economics are as follows: 

• Political Scientists
• Financial Consultant
• Senior Research Scientist
• Assistant Professor
• Head of the Educational Department
• Senior Economist
• Senior Market Analyst
• Director of Research and Development

Areas of Recruitment for PhD Economics Course 

There are many jobs after PhD in Economics that are available in both the public and private sectors. Graduates’ education and experience determine the scope of PhD in Economics and salary. The options available to students who are pursuing a PhD Economics degree are many. 

Advances in economics consultancies have increased the scope after completing a PhD Economics course in recent years. The student will gain a great deal of consultancy experience and knowledge, which will help him or her gain a competitive salary. The following are some areas in which PhD in Economics are recruited: 

• Coaching Centres
• Economics Consultancies
• Economics Department
• Home Tuitions
• Private Tuitions
• Publishing Houses
• Research and Development Agencies
• Applied Economics
• Econometrics
• Business Economics
• Banking and Finance
• Insurance Investment
• Manufacturing
• Advertising
• Communication
• Education and Research
• System Analysis

Salary Packages for PhD Economics Course 

According to PayScale, PhD in Economics salary in India is INR 3-10 LPA. PhD Economics jobs salary is determined by education and experience. Graduates of the PhD Economics salary in India moderate compared to students with experience.

The following are the PhD Economics starting salaries in India with job designations: 

Source: PayScale

Government Jobs for PhD Economics Graduates

PhD graduates in Economics can choose from a wide variety of government jobs. Government jobs after PhD in Economics are bankers, Economists, geographers, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultants, Financial Consultants in economic consultancies, publishing houses, or PSUs.

PhD Economics graduates typically undergo a test followed by an interview when applying for government jobs. The PhD in Economics salary in India is around INR 2-10 LPA (Source: Ambitionbox). Below is a list of government jobs after PhD in Economics salary:

Source: AmbitionBox

Private Jobs for PhD Economics Graduates 

Doctoral graduates in Economics can find employment in a variety of fields in the private sector. PhD in Economics jobs in India include Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultant, Financial Consultant, Advisor, and Accountant.

After they have completed the course, students can continue their studies or begin careers. PhD in Economics salary in India ranges from INR 2-5 LPA (Source: PayScale). PhD in Economics salary and jobs for freshers in India are as follows:

Job Opportunities Abroad for PhD Economics Graduates 

Students with a PhD in Economics can find employment abroad. The PhD Economics jobs salary is of interest to many students because they will learn numerous methods and techniques that can be applied to the Economics field abroad. Many graduates of top economic agencies are given the opportunity to work abroad. Graduating students working in the private sector will gain valuable experience and skills that will help advance their careers abroad.

PhD Economics graduates can obtain jobs abroad as Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultant, Financial Consultant, Advisor, and Accountant.

Top Companies 

Graduates of PhD Economics programs are hired by the following top companies: 

• Future Group
• Goldman Sachs
• Grasim Honda Two Wheelers
• LTLT Engineering and Construction
• Mahindra Engineering
• Reliance Industries Limited

Best Countries 

Here are some of the best countries that hire PhD Economics graduates: 

• Netherlands
• Switzerland

Various Career Designations Abroad for PhD Economics Graduates 

Graduates of PhD Economics programs can find the following positions abroad: 

• Stock Broker
• Media Analyst
• Lecturer or Professor
• Econometricians
• Public Relations Officer
• Industrial Organization Economists

Best PhD Economics Graduates 

Graduates of PhD programs in Economics have a wide range of career options. Political scientists interested in careers in the field will find the PhD course valuable. Students enrolled in doctorate PhD courses in Economics have increased in the past several years, while students enrolled in courses related to economics have decreased. PhD graduates in Economics in India are usually employed by economic consultancies or research institutes. The following is a list of some of the best graduates of PhD Economics programs: 

• Abhijit Banerjee
• Amartya Sen
• Amiya Kumar Bagchi
• Ardeshir Darabshaw Shroff
• Arvind Panagariya
• Avinash Dixit
• Bibek Debroy
• C. Kumarappa

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‘There are no jobs’: PhD graduates struggle to build careers in academia

For the first time in decades, Ian Corbin has dental insurance.

Over the past 15 years, Corbin has been a doctoral student, an adjunct professor, and a postdoctoral fellow. And trying to scrape together a living has been tough. “I was always hustling,” he says.

When Corbin — who holds a PhD in philosophy from Boston College and works at the intersection of ethics and medicine — was a postdoc at Brigham and Women’s Hospital in 2019, he earned about $50,000 a year and had kids to support. “So I was always teaching classes in the evening and publishing articles as fast as I could. Just taking on really anything that anyone would give me,” he says.

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Corbin’s story isn’t unusual. For many of those with doctorates, who typically spend between four and seven years in graduate school, the employment picture is increasingly bleak, especially for jobs in academia.

Maren Wood, who founded a firm that helps those with doctorates find jobs, says that the market for full-time professors has collapsed. Between 2007 and 2020, the number of openings in philosophy dropped by roughly half. The number of openings in English fell by about 60 percent .

Universities staffed up to accommodate millennials, she says, and now they’re trying to cope with declining enrollments, which are predicted to continue indefinitely . “There’s nothing wrong with a PhD,” says Wood, chief executive of Beyond the Professoriate, whose platform is currently used by Harvard and BC . “The problem is there are no jobs.”

Wood holds a PhD in history, and her breaking point was in 2011 when she came in second place for a job thousands of miles away. The gig was a one-year position. In Reno. And she was told the pay wouldn’t even be enough to live on.

The woman doing the hiring encouraged Wood. “You came in second place!” she exclaimed.

“For what?” Wood asked.

Wood had hoped to be a professor. She had been a top student and earned her PhD from the University of North Carolina. But it didn’t take long to realize: Despite the fact that she had a prestigious degree, there were virtually no decent jobs in universities.

Often, those with doctorates serve as adjunct professors — sometimes while they look for a more permanent gig. To students, adjuncts and tenure-track faculty may appear to be the same. They have PhDs. Students call them “professor.”

But when it comes to stability, they’re worlds apart. Adjuncts rarely get health care. They’re generally paid between $3,000 and $7,000 per class, and you might have to drive considerable distances to get from one job to another.

Over 30 percent of nontenure-track educators in higher education make under $25,000 a year, according to a 2019 survey by the American Federation of Teachers . Another 30 percent make between $25,000 and $50,000 a year. But over the past few decades, the number of adjuncts has grown much faster than the ranks of full-time faculty.

The dearth of jobs has been particularly tough on those in the social sciences, humanities, and some sciences, including biology. Richard Larson, a professor of data, systems, and society at MIT, has noted that many professors churn out lots of doctoral students over the course of their careers — and a good chunk of those students would like to be professors themselves.

But the math simply doesn’t work. Only a few of those grad students — fewer than 20 percent — can get the sort of job that their advisers have. (Though there are certainly disciplines — including chemical engineering and computer science — in which graduates can find jobs fairly easily, often in industry.)

Kristina Aikens, who earned her PhD in English from Tufts University, initially tried to piece together a living as an adjunct. For a year and a half, she says, she was teaching four or five classes in two or three locations, which is a common — though brutal — workload.

Aikens doesn’t believe that doctoral students — particularly in humanities — understand the real threat of finding themselves in an unstable position. “I think people think it won’t happen to them,” she says. “It’s not because they think that they’re better than anyone else. It’s just a denial that they’re in.”

But the threat of job instability is considerable. Massachusetts is not only the state with the highest percentage of people with undergraduate degrees; it also has the highest percentage of those with graduate degrees . And while many of those degree holders are thriving, too many live in precarious situations — situations made all the more precarious by the extraordinarily high cost of housing in the Boston area.

So if the supply of academic jobs has waned, why don’t doctoral programs simply slim down and admit fewer students?

Most of the people I spoke with noted that professors may be loath to give up their graduate students because they genuinely enjoy working with them. Grad students can talk about esoteric areas of scholarship, built on years of deep study.

“I think that faculty want to believe that they’re doing good,” says Wood. “I think that graduate deans generally believe that graduate education does good. And the fact that universities have paid so little attention to career outcomes means that they don’t actually have good data to work with.”

It’s also possible that schools’ reluctance to admit fewer graduate students is financially motivated. Universities often run on the work of grad students, as the Boston University strike has demonstrated . Grad students teach sections of large classes. They work in labs. They perform in-the-field research.

“The business model only works with a lot of cheap labor,” Corbin says. “I think it’s bad. I think it’s bad for students. I think it’s bad for the classroom. I think it’s bad for the grad students and the perennial adjuncts.” But, he believes, doctoral students represent an enormous pool of untapped talent.

Corbin is now a tenure-track researcher at Harvard Medical School’s Center for Bioethics. It’s a job he likes, and life feels much more stable. “It’s becoming less desperate,” he says.

Aikens — who now serves as the program director of writing support at Tufts — says she doesn’t regret getting a doctorate, and she doesn’t think we should preclude people from pursuing that sort of intense study.

Coming from a working-class background in West Virginia, she had wanted to see if she could do it. And the six years she spent getting a PhD were hard. But she knew that success wouldn’t necessarily lead to employment:

“At my graduation, literally at the ceremony, I turned to my friend and said: ‘Should I apply to law school? Because I don’t think this is going to work out.’”

Follow Kara Miller @karaemiller .

by Burk Krohe | May 20, 2024

Gabrielle Sewester successfully defended her dissertation earlier this month, earning a doctorate in educational psychology from the College of Education. Sewester works as a juvenile officer with the Missouri Department of Social Services Children’s Division and hopes to apply her research in the field. (Photo by Derik Holtmann)

Even as a teenager, Gabrielle Sewester loved being around children and families. An avid athlete, she coached younger kids and also worked at youth summer camps.

Sewester thought her fondness for working with families would eventually translate to a career in nursing. In high school, she volunteered at Mercy Hospital St. Louis for one summer but found that she enjoyed interacting with the pediatric patients more than the clinical aspects of health care.

“One of the staff for the hospital recommended social work, and I had never really thought about it before,” she recalled.

The suggestion spurred Sewester to pursue a bachelor’s degree in child and family development and then a master’s degree in human development and family science at the University of Central Missouri. From there, she went on to a successful career in the Missouri Department of Social Services Children’s Division as an alternative care worker and juvenile officer, working with children and families in the foster care system.

Sewester has continued to advocate for foster care children while furthering her education at the University of Missouri–St. Louis . Earlier this month, she graduated from the College of Education with a PhD in educational psychology after successfully defending her dissertation on placement stability among foster care children.

“It felt amazing,” she said of defending her dissertation. “It was a huge accomplishment that I’ve been working for for four years. It felt good to be done.”

After graduating from UCM with her bachelor’s degree in 2015, Sewester began working at a domestic violence shelter. Through a client at the shelter, she met a Children’s Division worker and applied for a position with the organization.

Children’s Division is responsible for the administration of child welfare services in Missouri and works in partnership with families, communities and courts to ensure the safety and well-being of children in the state. Sewester started her career as an alternative care worker, supervising families in the field from the time children entered foster care due to credible allegations of abuse or neglect until they returned home, entered an adoption or guardianship or aged out of the system. In her current role as a juvenile officer, she still oversees cases but primarily works on the legal side of the system.

Sewester acknowledges that the work can be difficult at times, but it’s also incredibly rewarding.

“If you try to find the positives, if you try to make those connections with parents and caregivers, I’ve noticed that helps a lot because they’re willing to trust you,” she said. “If you can build that relationship so they’ll take the advice you give, they’re willing to talk to you about problems when they come up. It can be tough, but there’s a lot of good things that come from it – especially when you get to send the children back home with their parents and everyone’s really excited.”

A desire to build upon the positives in the foster care system was the impetus for her doctoral research at UMSL, though she first fell in love with the research process during her master’s program.

Sewester returned to UCM shortly after graduating to enroll in a new accelerated master’s program in human development and family science.

“I was like, ‘Well, I can do anything for a year. Let’s give it a shot,’” she said.

The program’s research courses immediately resonated with her, so much so that she sought permission to conduct an independent research project and write an accompanying thesis even though neither was required in the accelerated program.

After earning her MS, Sewester still felt like her work was unfinished. Her graduate school advisor encouraged her to continue her education, so she began looking for a doctoral program that would be flexible enough for her to continue working full-time at Children’s Division and also provide her with new skills.

UMSL’s educational psychology program fit the bill.

Sewester enjoyed the ability to pursue multidisciplinary coursework. She also praised the College of Education’s helpful faculty and staff, particularly her dissertation committee: Professor Cody Ding , Associate Professor Shea Kerkhoff , Associate Professor Emily Brown and Assistant Professor Kristy Brann .

“I had great professors,” Sewester said. “They all help lead you to where you want to go, even if they weren’t necessarily experts in what I was studying. They all suggested theories, research questions or ideas and helped along the way, which was amazing. It was a good experience. I met a lot of classmates that I still talk to now. We kind of helped push each other to finish our dissertations.”

Her dissertation, “Exploring Strategies for Placement Stability Among Foster Care Children,” stemmed from her experience working in the child welfare system. Some foster care children experience frequent placements, moves from home to home, which creates uncertainty in their lives and disrupts their cases. The qualitative study examined how some foster parents are able to provide stable environments for the duration of a case and what factors are involved.

“Gabrielle used an asset-based approach to her research, which shines a light on the positive experiences of foster parents,” Kerkhoff said. “Highlighting their experiences will be a great resource for future foster parents, hopefully resulting in more stability for all children.”

Sewester interviewed 13 foster parents from across Missouri who reported at least one placement they deemed successful. The hourlong interviews, conducted via Zoom, touched on a variety of topics including their motivations for becoming foster parents, responses to difficulties, interactions with caseworkers, experiences at court hearings and more.

Over the course of the project, three themes emerged. The first, and most important, was a child-focused approach to the placement.

“Most of the successful placements happened when the placement providers focused on the children and whether they were safe and if they got the access to services that they needed,” Sewester said, “and if that child had the ability to grow and learn and be themselves when they were placed with them.”

The second key aspect was an understanding of the children’s past trauma and how that can affect behavior, while the final component was a connection to and engagement with the foster care community. Parents often felt more confident with a support system around them where they could share experiences and resources.

“When I read Gabrielle’s findings for the first time, I cried because I knew that her research was going to help people,” Kerkhoff said.

Sewester said she just wanted to change the narrative around foster care and highlight the people working hard to make sure kids are safe. Ultimately, she hopes the conditions she identified can be replicated in more homes and inspire broader change.

“This research really does focus on the positives and the successes, and it’s not talked about enough,” she said. “I think if we changed the focus, then it might be a switch that the child welfare system needs in order to have more success stories.”

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