Career Paths

Career Paths for Economics Majors

There are many career paths

There is no single career path for Economics majors. Click here to read more about life after College.

Employment

Economics graduates obtain employment in a very wide range of fields. For some examples for our major, click here.

This employment is very well compensated. The Federal Reserve Bank of New York study released February 2023 on "The Labor market for Recent College Graduates" reports that the median wage for a mid-career graduate (aged 35 to 45) in Economics is $100,000, compared to a median wage across all majors of $75,000. The only higher paid majors are Computer Science ($105,000) and Engineering ($100,000-$120,000). Business-related majors median wages are in the range $75,000-$100,000 (Business $75,000, Accounting $80,000, Marketing $85,000, Business Analytics $99,000, Finance $100,000).

The HEA group article on "Which College Majors Pay the Most" provides link to a detailed dataset of median earnings four years after graduation for 246 majors based on February 2023 US Department of Education data. The highest paid majors are mainly in Medical, Engineering and Computer Science disciplines. Then various economics and business/related majors are in the $58,000-$74,000 range: Economics ($74,000), Finance ($74,000), Business/Managerial Economics ($71,000), Accounting ($64,000), Business/Commerce ($61,000), Marketing ($59,000), Business Administration ($58,000). Social science majors are generally in the $40,000-$55,000 range and Biology is $49,000.

MEET OUR ALUMNI PANELISTS THAT JOINED US FOR THE INFORMATIONAL SEMINAR:

"ECONOMICS CAREERS DURING A RECESSION"

 

 

Ever wonder where some of our Economics Alumni go after they graduate? Some undergraduate placements include:

  • Masters program in (Theoretical) Economics in LSE
  • Masters in applied Economics/Management in UCLA, Cornell
  • Masters program in Statistics/Biostatistics in Yale, Chicago, Columbia
  • Research assistant in the Economics Department in the Chinese University of Hong Kong
  • PhD program in UC Davis, UC Irvine
  • Business Intelligence Developer (Epic Systems), Data Visualization Engineer (SpringML), Consultant (KPMG)

Graduate Study

Some Economics graduates move on to further study. For advice for those planning a Masters degree click here. For those planning a Ph.D. click here.

Check out more featured alumni!

What Can I Do With This Major?

  1. INSIGHT INTO THE REAL WORLD MAKES ECONOMICS MAJORS MARKETABLE, BY DEBORAH SWENSON
  2. WHAT CAN AN ECONOMICS DEGREE DO FOR YOU?
  3. WHAT CAN I DO WITH AN ECONOMICS MAJOR?

 

A Career In Economics... It's Much More Than You Think. Video from the American Economics Association on Vimeo.

Where can I look for jobs?

  1. Take a look at the Internship and Career Center for support! http://icc.ucdavis.edu/data/major.htm?mc=171
  2. This is our campus resource description and information about careers for an Economics major. It also includes helpful links to descriptions from https://whatcanidowiththismajor.com
  3. This has some simple career paths for economics degree holders: https://www.zippia.com/economics-major/
  4. Bureau of Labor Statistics Occupational Handbook where students can learn about different types of careers: https://www.bls.gov/ooh/
  5. State of California site that allows people to take a quick survey to see what types of jobs they might be suited for as well as descriptions of different career paths and requirements for those careers: https://www.cacareerzone.org/

 

Career Skills:

  1. SOFTWARE 
    Recommendations that students learn Excel, MS Office generally (i.e. Word, PowerPoint), possibly LaTex and of course some type of econometric software like “R”.   

  2. NETWORKING
    It is important to network and get to know people in your chosen field. Some suggestions may be joining campus clubs, sign up for Linkedin, join the UC Davis Economics Alumni Group etc. 

  3. CERTIFICATIONS
    Chartered Financial Analyst, Certified Financial Planner, Chartered Public Accountant, and other types of certifications have been pursued beyond a post-undergraduate degree or alternatively to a graduate program.

Click here to learn how to apply the skills you've learnt during your Undergraduate career when developing your resume!