Career options after MA Economics A Masters course in Economics opens up a gamut of opportunities in various domains. It boosts the job prospects for candidates and help them stay ahead of the curve. The course itself deals with subjects like Mathematics, Statistics, Macro & Micro Economics and Econometrics which prove to be crucial in effectively handling the nuances of social and economic growth of the nation.
This blog is a telltale guide to the abundant opportunities available for aspiring candidates who are planning a career in Economics.
One can find challenging career opportunities in many different fields that require analytical, numerical, and problem-solving skills, such as financial management, market research, business planning, budgeting, and resource allocation. In the MA Economics program, professionals gain advanced-level mathematical and statistical skills, as well as the ability to apply fundamentals and concepts to real-world economic issues.
Following are some of the domains where MA Economics aspirants find the most opportunities in the job market:
Entrepreneurship
BFSI & World Bank
International Labour Organization
Research agencies
Economic Consultancy
Actuary and Data Analysis
Education and else
There is a surge of opportunities for Economics graduates as the nation is embracing globalization and advancement at a rapid pace, resulting in a high level of competition. These current events have given a boost to job opportunities for MA Economics professionals. Needless to say, that it is an evergreen domain which does not faulter with a global crisis like a pandemic we are currently facing, but in fact becomes more relevant during the trying times.
Here is a list of top 9 Job Opportunities in India for M.A. Economics professionals:
1. Economist
The role of an economist is to examine how the resources of a society affect its production or output. They can work in small, local communities or whole nations, as well as in the global economy. They study, develop, and apply economic theories and concepts, as well as write about economic policy. Within the field of economics, there are many sub-fields, from the broad philosophical theories to the finer details of particular markets. An Economist typically has knowledge and expertise about all of that and apply them in real life scenarios. They work in several fields such as academia, government, and the private sector, where they may also collect and study data and statistics on economic activity, consumer attitudes, and economic confidence levels. They evaluate this data with advanced statistical analysis, mathematics, and computer programming techniques [and] make recommendations about ways to make systems more efficient or take advantage of trends as they develop.
The average salary for an Economist is ₹771,341 per year in India.
2. Market Research Analyst
A market research analyst studies market conditions to analyze potential sales of a product or service. Most industries use market research, so they are employed throughout the economy. The analytics and statistics skills they use to determine market trends allow them to apply data-driven solutions to drive business.
The national average salary for Market Research Analyst is ₹4,56,928 per year in India.
3. Credit Analyst
The creditworthiness of assets and liabilities of organizations is determined by credit analysts. The state of the subject’s financial health and economic conditions determine whether repayment is possible. Generally, these financial professionals work for commercial and investment banks, credit rating agencies, credit card issuing institutions, and investment companies.
The national average salary for Credit Analyst is ₹7,20,826 per year in India.
4. Statistician
Statisticians collect and analyze data that is appropriate and necessary to their research. Data generation has led to an increase in demand for statisticians in the corporate world. Experts in this domain apply statistical models and methodologies to solve real-time business problems. Various industries employ statisticians, including finance, market research, forensics, transportation, healthcare, and education.
The national average salary for Statistician is ₹4,20,197 per year in India.
5. Financial Analyst
A financial analyst may be asked to perform a number of different functions and aspects under the umbrella term financial analysis. Financial Analysts stay abreast of market trends, demographics, and microeconomic factors at all times. As a result, this practice helps the company to make wise investments and future financial decisions, which impacts its short- and long-term growth.
The national average salary for Financial Analyst is ₹5,29,716 per year in India.
6. Economics Teacher
The majority of Economics teachers are employed by private or public higher education colleges, B-schools, or universities. Emphasis is placed on subject areas such as finance management, social science, macroeconomics, microeconomics, tax obligations, and corporate finance. Teachers of economics need a variety of skills, such as communication skills, patience, instructional skills, and good computer skills.
Economics college lecturer salary in India is ₹ 10 Lakhs per year for employees with 10 years of experience.
7. Editor – Business, Finance and Economics
A Business, Finance, and Economics Editor is a critical reader who enjoys playing with words. Their primary responsibility is to polish and improve an article or story. Editors have a wide range of job opportunities in a variety of industries, where they can publish content in magazines, newspapers, blogs, and books.
Editor – Business, Finance and Economics salary in India is ₹ 3.2 Lakhs per year.
8. Economics – Academic Content Writer
The Academic Content Writer collaborates with the editorial staff to provide new blog entries, guidelines, and marketing text to an institution’s or company’s website. They start with a scan of industry-related trends and then come up with concepts for creating trending but distinctive content. After that, proofread the papers thoroughly before submitting them.
The national average salary for Academic Content Writer is ₹17,740 per month in India.
9. Data Scientists
Data scientists collaborate with business stakeholders to learn about their objectives and how they may be met. Professionals in this sector look for patterns in enormous amounts of raw data in order to boost a company’s reputation. They construct algorithms, design data modelling procedures, and define predictive models to extract data to meet business objectives because they often focus on the futuristic display of data.
The national average salary for Data Scientist is ₹10,00,000 per year in India.
Economics is a component of our daily utility that will never go away. Because of its advanced level of knowledge and applications, MA Economics is in high demand both nationally and internationally.
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