Career Options in India after Bachelor in Economics: From Economic Expert to Fortune Builder

May 15, 2024
bachelor of economics

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The Bachelor of Economics (B.A. Economics) is a highly sought-after course for commerce students, offering a plethora of job opportunities and a promising career path. With the nation’s economy rapidly growing, the demand for skilled economics experts is on the rise. By pursuing a B.A. in Economics, students not only contribute to the nation’s development but also pave the way for successful careers.

In this blog, we will explore the scope and job prospects of a B.A. Economics degree, along with the best courses to consider after completing your undergraduate studies. Let’s delve into the world of B.A. Economics and discover the endless possibilities it holds for aspiring economists.

facts about the economy of India

Scope after B.A. Economics

There is a lot of scope in the field of economics, and the career options in economics vary from Auditor to Accountant and from financial manager to Economist. And all of the career fields are quite a in demand and are lucrative career choices. Making a career after B.A. Economics is successful for students. 

15 Best Career Options after B.A. Economics

To be able to use the knowledge you gained from your studies and to have a successful career you need to know about B.A. Economics jobs that you can do after graduation completion. Here best 15 career options after B.A. Economics has been discussed.   

  1. Auditor
  2. Economic Consultant
  3. Actuarial Analyst
  4. Financial Risk Analyst
  5. Financial Manager
  6. Tutor
  7. Subject Matter Expert
  8. Human Resources
  9. Market Analyst
  10. Banker
  11. Operations Manager
  12. Economic Writer
  13. Economist
  14. Sales Analyst
  15. Investment Analyst

1. Auditor

Becoming an auditor is a great career choice after completing your bachelor of economics. It is not only a career with lots of interesting challenges but quite an in-demand career field. 

Responsibilities

An auditor is responsible for auditing the financial statement of an organisation. For that, you need to make audit plans, review the financial statements, collect evidence of the authenticity of payments made, verify all the legal compliance and issue an audited report. 

Skills needed

As an auditor, you need to have certain skills to do your work diligently. An auditor must have good knowledge of all the laws related to finance, problem-solver, be tactful and reliable and have analytical skills and skills of maintaining confidentiality. 

Average Salary

The average salary of an auditor in India is 3 lakhs per annum.  

2. Economic Consultant

Being one of the best-paying job roles in the field of economics, this is an option you might want to explore after your B.A. Economics. You can have a career in economics after graduation as an economic consultant. You can work for financial companies, private and public agencies, and research institutes. 

Responsibilities

An economic consultant’s job is to collect and analyse data, trends and patterns in the economy. This is done to predict the future economic market and how it will affect the organisation you are working for. This is done using mathematical and statistical methods and models. And according to the predictions, it will be your task as a consultant to give the right advice to the stakeholders and company officials. 

Skills needed

An economic consultant should have good economic knowledge, mathematical and statical knowledge, and communication and observation skills.  

Average Salary

On average, an economic consultant earns 9 lakhs per annum

3. Actuarial Analyst

The role of the actuarial analyst is crucial in the finance sector, that’s why there is high demand for actuarial analyst personnel. If you choose this as after B.A. Economics jobs, then you can make a lucrative career in the finance sector. However, you should make sure that you are good at managing risks and have a keen interest in numbers, data and maths. 

Responsibilities

An actuarial analyst is a person who is responsible for analysing and managing the financial risks of the business. And you will be helping accredited actuaries in solving complex financial problems, through strategic decisions.  

Skills needed

An actuarial analyst should have specialised math knowledge in calculus, probability and statistics. Along with these, you must have analytical, decision-making, problem-solving and project-management skills. Computer skills like coding, excel skills are added on too. 

Average Salary

The average salary of an actuarial analyst in India is 6 lakhs per annum.  

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 underlying fields and sections of analysis. You will work for insurance or trading companies or the public sector. You might even work in areas that need hedge fund analysis and can have a great career after B.A. Economics. 

Responsibilities

As a financial risk analyst, your responsibilities will include making recommendations for risk coverage, strategies for minimising the risks and increasing profits for the organisation. You have to continuously monitor and look out for any kind of possible risks for the organisation. 

Skills Needed

You should constantly update yourself with current finance and market knowledge, analytical skills, communication, problem-solving and negotiation skills are also required in a financial risk analyst.  

Average Salary

The average salary of a financial risk analyst is 6 lakhs per annum in India. 

5. Financial Manager

Becoming a financial manager is one of the good options after B.A. Economics scope, that you can choose positively. It is a career quite high-demand as every organisation needs a professional who can manage their finances accurately.  

Responsibilities

As a financial manager and an accounting professional, your task is to take care of the financial well-being of the organisation. For that, you can advise the superiors about how and where to acquire and allocate the company’s assets. So that, maximum ROI (return on investment) can be incurred.  

Skills Needed

As a financial manager, you need skills like knowledge of finance and financial documents, analytical skills, detail-oriented, communication, leadership and interpersonal communication are must-have skills. And if you have computer and technical skills then, it will benefit you when applying for a job. 

Salary

If you choose to become a financial manager after BA Economics then, you can earn an average salary of 13 lakhs per annum in India.   

6. Tutor

If you want to help other students and guide them towards a bright career and have a hold on your subject’s knowledge. Then you can consider tutoring one of the best after B.A. Economics jobs. As a tutor, you are not required to teach in any school, you can take classes independently. And the choice is yours whether to teach online and earn money or open an offline tuition centre.  

Responsibilities

You are responsible for students’ future and their careers. It’s the biggest responsibility and you can fulfil it by teaching them and clearing all their doubts related to economic topics. 

Skills Needed

As a tutor, your greatest skill is your knowledge, along with that you should have good communication skills, problem-solving, interpersonal communication and leadership skills are required to be a good tutor.  

Salary

As a tutor, you can earn average 2 lakhs per annum

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7. Subject Matter Expert

If you know the field of economics and have good knowledge of your subject matter then, you can become a Subject Matter Expert for educational websites. It is one of the best career options after a B.A. Economics.  

If you decide to work as a Subject Matter Expert, then you can become a Q/A Expert at Chegg. As Chegg’s Subject Matter Expert, you will be working for flexible hours, getting timely pay-outs and can earn from your home.   

Responsibilities

As a subject matter expert, you are responsible to provide accurate information and knowledge to the students. And as you are an expert in your subject you are expected to solve students’ queries related to that subject.  

Skills needed

A subject matter expert should have great knowledge of their subject and niche. Other than this, communication skills, time management, adaptability, strong work ethic and management skills are necessary.  

Salary

The average salary of a subject matter expert in India is 5 lakhs per annum.  

A Part-time Job that Pays like Full-time

8. Human Resources

Human resource is also one of the great career choices for a BA Economics scope. As a human resource, you can help in managing the hiring of skilled and reliable human resources for an organisation. 

Responsibilities

As human resource personnel, your daily responsibilities include, filling job postings, handling payroll and benefit plan enrolments of employees, taking care of the smooth onboarding process of new employees and maintaining accurate employment records.  

Skills Needed

Accounting knowledge and computer skills are a must and good human resource personnel have organisation skills, communication skills, management skills, teamwork, adaptability, leadership skills and confidentiality. 

Salary

On average, a human resource manager earns 7 lakhs per annum in India. 

9. Market Analyst

Becoming a marketing analyst is a great career choice after a bachelor of economics if you have an interest in the marketing field and can use numbers and data for marketing products in an interesting manner. Marketing analyst jobs are quite high in demand because of the rising focus on digital marketing and advertisements, so if you want you can pursue this after one of after B.A. Economics jobs.  

Responsibilities

As a marketing analyst, your job is to conduct research for understanding customers’ needs and demands, Check the effectiveness of the current marketing strategy of the business and work on improving it as per needs. Your main task will be minimising risks for the company by launching fresh marketing strategies by understanding the customer response rate, and the dropout rate and also measuring ROI.   

Skills Needed

As a market analyst, you should have good knowledge of data analysis, marketing knowledge, customer and company relation knowledge and great communication skills.   

Salary

The average salary of a market analyst is 8 lakhs per annum.  

10. Banker

You can positively consider banking as one the best after B.A. Economics scope. As a banker, you will be working for a bank and helping customers to get loans and investment tools. And this will help the bank earn interest at minimal risk. 

Responsibilities

As a banker, there are several responsibilities that you need to fulfil. Some of them are discussing loan requirements and terms with clients, negotiating the purchase of commodities, arranging loans, and verifying and preparing necessary documents and financial statements. 

Skills needed

A banker’s key skills are business banking, relationship management, business development and customer orientation. 

Salary 

The average salary of a banker in India is 3 lakhs per annum.   

11. Operations Manager

If you have good leadership and administration skills along with knowledge of finance and numbers then you can opt for operations manager as a career after a bachelor of economics.  

Responsibilities

As operations manager, your role will be to lead business and finance professionals who are involved in goods and service production. You will be responsible for looking over the multiple tasks and projects. At the same time, you will be reviewing and analysing the records, analytical data and budgets and managing costs related to production.  

Skills needed

Along with the knowledge of finance, you will need to have critical thinking skills, time management, leadership, and communication. 

Salary

The average salary of an operations manager is 7 lakhs per annum in India. 

12. Economic Writer

Having the skill of writing with the knowledge of finance is a great combination, and if you have these then you can positively opt for the economic writer as one after B.A. Economics jobs. As an economic writer, you can work for newspaper publications and financial journals. 

Responsibilities

As an economic writer you are responsible for writing finance course guides, and financial academic books, writing financial articles and blogs on websites, conducting extensive research in the financial field and much more.  

Skills needed

An economic writer must have technical knowledge of finance, writing skills, communication, and organisational and adaptive skills. 

Salary

The average salary of an economic writer is 13 lakhs per annum in India. 

13. Economist

If you like reading and researching current finance and marketing trend, then becoming an economist after a bachelor of economics is a good career choice for you. As an economist, you will gain a wide range of knowledge and skills. 

Responsibilities

As an economist, you will collect and analyse data, conduct surveys, and evaluate government policing and your central task will be making predictions on basis of all the research and surveys. These predictions will be related to financial trends in the upcoming time. 

Skills needed

As an economist, you need to know overall everything related to finance. Also, you need to have analytical skills. communication skills, research and logical and reasoning skills.   

Salary

The average salary of an economist in India is 15 lakhs per annum

14. Sales Analyst

Working as a sales analyst is also a good choice after completing a bachelor of economics. It’s a high-in-demand job title and many companies need sales analysts to manage and increase their sales. 

Responsibilities

A sales analyst work on instituting sales goal and monitoring current market trends. And then recommending marketing and sales strategy to respective departments. Removing bottlenecks to increase efficiency and feeding information in CRM is also part of your job. 

Skills needed

You should have good technical knowledge, mathematics and statical knowledge. And skills like communication skills, teamwork, and management skills are also needed. 

Salary

The average salary of a sales analyst in India is 5 lakh per annum

15. Investment Analyst

An investment analyst can work for banks or for investment firms, and in both places, you will be making a good career choice after your bachelor of economics. And being one of the high-demand BA Economics jobs you will earn a good salary too. 

Responsibility

Monitor inflation and deflation rates, research the company, analyse the investment growth, make reports, updating knowledge of the market and economics. 

Skills Needed

Understanding of finance and economics, analytical, decision-making skills, communication and research skills are highly needed. 

Salary

The salary of an investment analyst in India is 10 lakhs per annum

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Best Courses after B.A. Economics

Whether to do a job or not after completing your bachelor of economics is your choice. However, if you want to gain some more knowledge in economics and gain expertise in it then you can pursue some of the best courses after your B.A. Economics.

 

  1. Masters of Arts in Economics
  2. Masters of Business Economics
  3. Bachelor of Law (LLB)
  4. Masters of Arts in Mass Communication
  5. Master of Arts in Quantitative Economics

1. Masters of Arts in Economics

This is one of the best courses to do if you want to gain expertise in economics. After completing a master’s, you will have lots of career options in front of you.  

Eligibility

To get admission to M.A. Economics the candidate must have completed a bachelor of economics or related programme. A minimum of 50% marks are required. 

Duration

It’s a 2-year master’s programme. 

Subjects

Subjects taught include the study of economic theories, micro and macroeconomics, international economics, quantitative analytical methods and more.  

Scope 

After completing a master’s you can apply for job roles like- Data analyst, professional economist, teacher, financial planner etc. 

2. Masters of Business Economics

In the master of business, economics programme students are taught everything related to economics. They are given theoretical and practical knowledge as well. It is a good course to do after a bachelor of economics. 

Eligibility 

Graduation from a similar or relevant field with a minimum of 45% marks. 

Final selections occur on the marks obtained in CAT, and CUCET. 

Duration

This a 2-year MA programme. 

Subjects

Subjects like micro and macroeconomics, quantitative methodologies, and applied environmental economic principles are taught. 

Scope

After doing a master’s in business economics, you can apply for jobs like- asset manager, investment banker, consultant, and financial analyst. 

3. Bachelor of Law (LLB) 

LLB is also a great option to choose after completing your bachelor of economics. There is a need for good financial lawyers in every industry, making LLB aright right for you. 

Eligibility 

Candidates must have completed a bachelor’s degree with a minimum of 45% marks from a recognised university. Selection will be done on basis of marks scored in CLAT, SLAT, CUET etc. 

Duration

The duration of the LLB programme is 3-year. 

Subjects

Subjects related to, environmental law, arbitration, insurance law, and consumer protection law are taught. 

Scope 

After LLB you can apply for jobs like-Legal manager, attorney, lawyer hr manager, and legal affair manager. 

4. Masters of Arts in Mass Communication

If you have an interest in the field of journalism and mass communication then you can opt for this course after your bachelor of economics.  

Eligibility 

The candidate must have passed bachelor’s from a recognised university with 50% marks.  

The candidate needs to pass the entrance exam conducted by colleges and all the other rounds. 

Duration 

It is a 2-year M.A. programme. 

Subjects

Subjects like communication research, development communication and media development are taught. 

Scope 

After this programme, you can apply for jobs like- Client servicing manager, deputy manager, public relations officer 

5. Master of Arts in Quantitative Economics

This master’s degree talks all about the effect of human activities on the mathematical and statical theories applied in economics. If you want to gain deep knowledge related to this field you can do this after your bachelor of economics course. 

Eligibility

Graduation in a bachelor of economics or other degrees with economics as a major. 50 % marks are required. Some universities also take the entrance exam 

Duration

It is a 2-year master’s. 

Subjects

Subjects like statistics, algorithms and mathematical and economic theories are taught. 

Scope

After your master’s, you can apply for jobs like data analyst, quantitative developer, researcher, or economic affairs officer. 

Also Read: BSc Economics: Course Overview, Subjects & Admission

Future of Economics

A Bachelor of economics is a great course and will open great after my B.A. Economics scope for the students. Throughout the article, it has been discussed what you can do after a B.A. economics degree. With so many choices in the career field and after a B.A. economics degree one is bound to get confused. 

However, there is nothing to be confused, about as you must have read the article and got informed about the eligibility, skills required and scope of each field. Now just make the choice that matches your skills, and career vision.  

Frequently Asked Questions

Can I do MBA after BA in economics? 

Yes, you can positively do MBA after completing your bachelor of economics degree. And if you want you can even do an MBA specialisation programme like MBA in Finance, which will teach you about economics, and statistics in depth. Not only this, MBA opens up great career opportunities for you as you can apply for job roles like financial analyst, hr manager, and marketing manager. 

What is the scope of the Bachelor of Economics? 

There is lots of scope in economics, truly saying it is one of the most popular courses among commerce students. After completing a Bachelor of Economics one can make a career in several lucrative career options. You can even do courses like M.A. Economics, MBA, and LLB to further enhance your skills and career prospect. 

Which field is the best after a BA economics? 

There are several great fields after B.A. Economics. That you can choose, but what is more, important is your skills, the knowledge and the vision you have for your future, and of course, you have to constantly upgrade yourself from time to time. Only you can work in some of the great fields after a bachelor of economics, like financial analyst, auditing, data analysis, and financial management.  

What is the highest-paying job in economics?

There is many great paying and in-demand job roles in economics, which you can apply for after completing your bachelor of economics. Some of these most lucrative carers are finance managers, economic writers, management analysts, operations research analysts, and personal financial advisors. These were roles in the private sector, but you can also apply in the government sector too.

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