Career options in India after Bachelor of Economics
Among other twisted concepts that about having a degree of Bachelor of Economics is the line of career you can choose. People usually people tend towards a post-graduation. But there are several options you can explore after BA Economics. Moreover, you can have a career line boosting during graduation as well. These are well-paying office or work from home white-collar jobs that help you eventually grow a lot. They hold a lot of potential for those who want to have consistency and stability in their life.
Why should one take up Bachelor of Economics?
There is a lot of growth in different fields. But certain skill sets need training in a streamlined way. This is one such degree the implications of which help the world on a larger level while also helping you. With your degree in economics, you will be able to learn a lot more than the basic policies or factors that determine them.
The additionals are much more powerful. Like analysis and tips and tricks of how to accurately reach a result considering subjective and objective factors. Having a range, knowing when all these things are not applicable at all. Also, understanding the importance of the role of each individual in controlling the market.
Who should take up this course?
Bachelor of Economics degrees is fairly popular for a variety of fields. While for some fields, it acts as a base, the others absorb talent right after graduation. Those with an interest in research and crunching numbers can do well in the course. Similarly, those interested in knowing about the markets and balances, this is the course they should opt for.
Some possible job posts after the course include consultants, analysts, and managers. A degree in economics also opens the scope for those who want to branch into the financial sector.
What factors affect the Bachelor of Economics scope?
You need to consider the opportunities you get to make the best out of them. They cannot guarantee a return in terms of a career or job opportunities for economics graduates. However, they are quite decisive of what exposure you get for the future.
- University and/ or College
Ranking, syllabus, and activities in the college are a few factors that contribute to the big picture later.
Internships, seminars, and credible learning platforms help in job interviews and ‘first’ experiences.
- Certifications and Courses
A certificate program or online course apart from your course that adds to your knowledge is a plus.
Practical work like research papers, academic papers, etc. will reflect in your reports.
What are some options for a good career in economics after graduation?
There is a lot of BA Economics scope as an auditor. Working for this job role would be under the government or for companies that provide financial consultancy. You would be responsible for reviewing the financial status and accounts of different companies. The most important part of their job role is to collect information about financial statements. They also compare the same to check for validity, legality, and presentation in a fair manner.
In order to do the same, auditors need to collect data from employees and management of the company. They understand the companies’ processes and policies. Also, they analyze transactions as given in financial documents. From all the job opportunities for economics graduates available in India, this is quite common. This might increase the competition and inversely affect the chances to get a job. Although it is a well-paying job.
2. Economic Consultant
Being one of the best paying job roles in all fields, this is an option you might want to explore. You can have a career in economics after graduation as an economic consultant. You would work for financial companies, private and public agencies, and research institutes. Also, you will be studying data with financial and statistical complexities. Moreover, you will completely analyze these industries from an economic standpoint.
They have to use their research according to economic phenomena. Also, they fit in possible scenarios to derive the most credible results and make use of quantitative methods to complete their reports. Further, these reports help in creating recommendations, strategies, suggestions, or policies. It helps to interpret markets from an economic point of view. Also, it helps solve problems that are arising or are likely to show up in the future. Only a few jobs for economics graduates offer the kind of the first-hand experience like this one.
3. Actuarial Analyst
People with this job profile usually work for companies dealing with risky activities like insurance. They usually end up taking a specification further in their job. This helps them attain stability in their job role in the long run. If you go ahead to become an actuarial analyst with BA in Economics, it will help you in your main job functions like data analysis.
They go on to evaluate risks and subsequentially policy premiums that are to be established for a fair bargain. You can work independently if you take up this job role. You can also work in a team using tools and programs specifically designed for you, to make the work and analysis more efficient. As an actuarial analyst, you will be conducting research to get relevant data, analyzing it, and presenting insights. For complex functions, you will be using spreadsheets and other software programs to determine costs. You will also be creating reports to compile your data and have a record of the same. This is one of the best job opportunities for economics graduates.
4. Financial Risk Analyst
Much like an actuarial analyst, you can also choose to become a financial risk analyst after a bachelor of economics. But, the job roles differ in terms of underlining fields and subsections of analysis. You will work for insurance or trading companies or for the public sector. You might even work in areas that need hedge fund analysis. Their main purpose is to overlook risk management to avoid negative impactful financial decisions which directly affect the profit ratio for the company. Broadly, a financial risk analyst could be managing decisions for the business from four categories. The categories are credit, regulatory, operational, and market. Each of these contributes to the company in its own way.
As a financial risk analyst, you will make suggestions to control potential risks that would come out of the company’s decisions. You will also forecast and keep an eye on the market trends to stay up-to-date. You will also watch them and analyze the implications of both controllable and uncontrollable factors. You’ll also be collaborating with traders and assess risks in order to keep the ball rolling for higher returns.
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5. Financial Manager
As a financial manager, you will have to work in any type of company in the public sector. You will have to guide them to their financial goals. You can make a career in economics after graduation. It is because you will have ample knowledge of quantitative analysis. You will also be able to prepare reports and present them properly. Excellent communication skills will back these analytical abilities. Also, this will be helpful for those who are natural leaders. It will help to grow in the fielm a mutually beneficial bond with the company.
Your job will include making financial reports, developing strategies, and supervising investment activities. Your aim will be to increase the revenues of the company. Every company needs a financial manager since they need to increase profits. As a financial manager, your role would include preparing and reviewing financial reports for the company. It will also include checking legal requirements for financial transactions and other details. You will also supervise employees in the finance or budgets department of the company. You will also give advice when necessary. Also, you will be doing the job of finding expansion or acquisition opportunities.
Although proper institutional teaching requires higher education and further research. Yet job opportunities for economic graduates include the scope of tutoring. In this role, you can take classes for children who are looking for extra practice or want to have some help to clarify their basics. This is quite a well-paying opportunity for both offline and online mediums.
BA economics scope in the teaching field is not limited. This is unlike the popular belief which discourages students to branch out and experiments. If you have good credentials and reviews, you will manage to get a lot of students based on purely the feedback they got about you. Unless you take up home tutoring for individuals or small batches, this opportunity would not require you to move or travel. You can do it from the comfort of your home.
7. Subject Matter Expert
If you have knowledge in the field, you can become a Subject Matter Expert with educational websites. The best option in that regard would be Chegg. They pay well for your work and are to be one of the best websites for freelance experts for teaching.
The scope of BA in Economics extends to this occupation because of the theoretical knowledge it demands.
Most of this job role requires asynchronous teaching which gives you the freedom to choose your own time and work in-between tasks. This is why this is a valid option to pursue even during your bachelor’s. You can work at your comfortable time and it is not too taxing or time-consuming, so you do not get distracted from your work either. Since this is a remote opportunity, it will not require you to devote yourself to a certain location or time-period. Thus allowing you a lot of flexibility in that aspect.
Future of Economics
Nobody can give details about a set future for any particular field. It is important that we revisit the past and see how far we have come to expect growth. Economics as a subject, and so a bachelor of economics, will never lose its values. Thus, the jobs rooting from the field will also never completely lose meaning. No amount of many software programs will be able to replace the humane role of it all.
Thus, job opportunities for economics graduates are evergreen. They are only likely as complexities increase with increasing information. With more details surfacing, there is a need for more researchers. Hence, more people should take interest in pursuing a career in the field. All the above-mentioned job opportunities are versatile. They branch out further for specifics as well. So you can always move around your field and experiment. The future for economics as a field and a career line seems bright!