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Career Opportunities in Economics: Check List of Highest Paying Careers in Economics in India

Author : Pooja Manchanda

Updated On : July 1, 2024

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Reader’s Digest: Have you ever wondered why some nations have more resources than others or how history affects economies? Are you curious as to why, given all other things being equal, some people earn more than others? Then you might want to major in economics. 

For economics majors, there are plenty of jobs. You work nights in social science research or public policy. You can also work in insurance or education. 

A career in business and finance also makes sense for someone with an economics degree.

Some majors in economics find employment in market research. Financial analysts or personal financial advisors are two career options. 

 Personnel with great data analysis abilities are needed in all industries. Additionally, in great demand are workers that have a solid understanding of economic markets.

Potential pay for employment in economics varies depending on the position you hold. Majors in economics can choose from dozens of occupations. 

Salaries for economic majors vary widely. Mean or median salary for many of these positions is significantly higher than average. 

A few of these professional routes even permit you to earn a sex-figure salary. 

Attend a Demo Counselling Session with UDAAN Career Coach

Skills Acquired by Economics Majors 

Among others, economics majors learn skills in: 

  • Abstract thinking 
  • Analysis 
  • Communication 
  • Critical thinking 
  • Management 
  • Problem-solving 
  • Research 
  • Technology 

Top 10 Highest paying Careers in Economics 

Here are the top 10 highest paying jobs for people with an economics degree: 

Highest Paying Career in Economics #1: Actuary 

An actuary assesses the risks associated with insurance, finance, and other sectors using statistical analysis and mathematics. They create policies that minimize the cost of risk based on their findings. 

Educational Requirement  Average Salary  Top Companies for Actuaries 
A bachelor's degree in actuarial science, statistics, or mathematics, along with professional certification, is required.  INR 12 LPA  Tata AIA Life, HDFC Life, Bajaj Allianz, ICICI Prudential, Max Life 

Highest Paying Career in Economics #2: Sales Manager 

Leading the sales team, establishing personal goals for each employee, developing revenue-boosting sales programs, and doing data analysis to inform future sales tactics are all duties of a sales manager. 

Educational Requirement  Annual Salary  Top Companies for Sales Managers 
A bachelor's degree in business management or a similar discipline, along with sufficient job experience in sales, is required for becoming a sales manager.  INR 9.5 LPA  Reliance Industries, Tata Motors, HDFC Bank, ITC Limited, Mahindra & Mahindra 

Highest Paying Career in Economics #3: Management Analysts or Consultants 

Job Role: Management analysts and consultants assist businesses in identifying issues or opportunities for development and developing plans of action to help them reach their objectives. To comprehend a company's goals and identify the finest solutions, they frequently collaborate with CEOs, CFOs, and other top executives. 

Management consultants with an MBA or a master’s degree in economics may have better prospects.  INR 26.8 LPA  McKinsey & Company, Boston Consulting Group, Bain & Company, Deloitte Consulting, Accenture 

CAT Online Coaching

CAT Online Coaching

Highest Paying Career in Economics #4: Corporate Economist 

A corporate economist is a business expert who advises businesses on economic matters, creates plans of action, and forecasts important financial outcomes. They frequently assist in giving businesses financial strategy, policy, and goal advice. 

Educational Requirement  Average Salary  Top Companies for Corporate Economists 
A master’s degree in economics, finance, or a related field is typically required.  INR 16.4 LPA  Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, State Bank of India 

Highest Paying Career in Economics #5: Compensation & Benefits Managers 

Compensation & Benefits Managers oversee making sure that the rules and procedures pertaining to pay and benefits at their organization suit the demands of the workers. In addition to commission programs, bonus plans, wage structures, insurance and benefit plans, and more, they create and oversee compensation structures. 

Educational Requirement  Average Salary  Top Companies for Compensation & Benefits Managers 
Compensation & Benefits Managers typically need at least a bachelor’s degree in human resources or a related field. They require strong interpersonal skills and the ability to understand complex legal documents.  INR 20 LPA  Infosys, Wipro, Tata Consultancy Services, HCL Technologies, Mahindra Group 

Highest Paying Career in Economics #6: Economic Consultant 

Economic consultants provide well-informed advice on the advantages and disadvantages of various financial solutions to enterprises, nonprofit organizations, and governmental organizations. They may collaborate with clients to create an action plan based on their unique needs, or they could use data analysis to foresee national economic trends and offer remedies. 

Educational Requirement  Average Salary  Top Companies for Economists 
Many employers require a master’s degree in economics or a related field for entry-level positions. However, some jobs may only require an undergraduate degree in economics.  INR 10.5 LPA  State Bank of India, HDFC Bank, ICICI Bank, Reliance Industries, Tata Group 

Highest Paying Career in Economics #7: Operations Research Analyst 

A person who learns and applies mathematics to solve issues is known as an operations research analyst. They employ numerical simulation, mathematical modeling, and statistical analysis to do this. 

Educational Requirement  Average Salary  Top Companies for Operations Research Analysts 
Typically requires at least a bachelor’s degree in operations research, mathematics, or a related field. Advanced positions may require a master’s degree.  INR 6.55 LPA  TCS, Infosys, Wipro, Cognizant, HCL Technologies 

Have a look at our Discover & Evolve Career Counseling Programs

Highest Paying Career in Economics #8: Personal Financial Advisor 

Giving clients financial advice is the responsibility of a personal financial advisor. Depending on the sector, these responsibilities can vary, but they typically entail managing investments and providing financial guidance.

Educational Requirement  Average Salary  Top Companies for Personal Financial Advisors 
Typically requires a bachelor’s degree in finance, economics, or a related field. Additional certifications like CFP (Certified Financial Planner) may be beneficial.  INR 5.24 LPA  HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Bajaj Finserv 

Highest Paying Career in Economics #9: Financial Analyst 

When making investment decisions, both people and businesses can benefit from the advice of financial experts. They evaluate the performance of bonds, stocks, and other investment kinds. 

Educational Requirement  Average Salary  Top Companies for Financial Analysts 
Most financial analysts have at least an undergraduate economics degree or a bachelor’s degree in finance, accounting, economics, or business administration.  INR 6.57 LPA  Reliance Industries, Tata Motors, HDFC Bank, ICICI Bank, Infosys 

Highest Paying Career in Economics #10: Market Research Analyst 

An analyst of market research gathers and examines information regarding customers, rivals, and the success of marketing campaigns. They use this data to help corporations understand consumer preferences for items, who will purchase them and at what price. 

Educational Requirement  Average Salary  Top Companies for Market Research Analysts 
Market research analysts typically need an undergraduate degree in market research or a related field. Many also have degrees in statistics, math, or computer science.  INR 4.2 LPA  Nielsen, Kantar, Gartner, Ipsos, Frost & Sullivan 

CAT Online Coaching

CAT Online Coaching

Conclusion 

  • There are several advantages and chances to pursue a career in economics. In addition to investigating the basic ideas guiding resource allocation, market dynamics, and policy formation, economics is a dynamic and significant field that is crucial in forming the socioeconomic environment.
  • Studying economics gives people a toolkit of analytical abilities, such as problem-solving, critical thinking, and quantitative analysis, which are highly valued in a variety of industries. 
  • It also enables professionals to make significant contributions to a wide range of industries, including government, finance, consulting, research, and academia.
  • Not to mention, there are still plenty of chances for both entry-level and senior employment that pay well, since there is a continued demand for economists.
  • Economics-related abilities are becoming more and more relevant as the world's economies change and encounter new difficulties; these skills position people for long-term professional growth and flexibility. 

Frequently Asked Questions

What is the highest pay an economist can get?

Expand Faq Icon

Which economics degree is the highest level?

Expand Faq Icon

Are employment prospects for recent economics grads plentiful?

Expand Faq Icon

Is an MBA superior to economics?

Expand Faq Icon

Which industries are the highest-paying for jobs in Economics sector?

Expand Faq Icon

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

Expand Faq Icon

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

Expand Faq Icon

Career Opportunities in Economics: Check List of Highest Paying Careers in Economics in India

Author : Pooja Manchanda

July 1, 2024

SHARE

Reader’s Digest: Have you ever wondered why some nations have more resources than others or how history affects economies? Are you curious as to why, given all other things being equal, some people earn more than others? Then you might want to major in economics. 

For economics majors, there are plenty of jobs. You work nights in social science research or public policy. You can also work in insurance or education. 

A career in business and finance also makes sense for someone with an economics degree.

Some majors in economics find employment in market research. Financial analysts or personal financial advisors are two career options. 

 Personnel with great data analysis abilities are needed in all industries. Additionally, in great demand are workers that have a solid understanding of economic markets.

Potential pay for employment in economics varies depending on the position you hold. Majors in economics can choose from dozens of occupations. 

Salaries for economic majors vary widely. Mean or median salary for many of these positions is significantly higher than average. 

A few of these professional routes even permit you to earn a sex-figure salary. 

Attend a Demo Counselling Session with UDAAN Career Coach

Skills Acquired by Economics Majors 

Among others, economics majors learn skills in: 

  • Abstract thinking 
  • Analysis 
  • Communication 
  • Critical thinking 
  • Management 
  • Problem-solving 
  • Research 
  • Technology 

Top 10 Highest paying Careers in Economics 

Here are the top 10 highest paying jobs for people with an economics degree: 

Highest Paying Career in Economics #1: Actuary 

An actuary assesses the risks associated with insurance, finance, and other sectors using statistical analysis and mathematics. They create policies that minimize the cost of risk based on their findings. 

Educational Requirement  Average Salary  Top Companies for Actuaries 
A bachelor's degree in actuarial science, statistics, or mathematics, along with professional certification, is required.  INR 12 LPA  Tata AIA Life, HDFC Life, Bajaj Allianz, ICICI Prudential, Max Life 

Highest Paying Career in Economics #2: Sales Manager 

Leading the sales team, establishing personal goals for each employee, developing revenue-boosting sales programs, and doing data analysis to inform future sales tactics are all duties of a sales manager. 

Educational Requirement  Annual Salary  Top Companies for Sales Managers 
A bachelor's degree in business management or a similar discipline, along with sufficient job experience in sales, is required for becoming a sales manager.  INR 9.5 LPA  Reliance Industries, Tata Motors, HDFC Bank, ITC Limited, Mahindra & Mahindra 

Highest Paying Career in Economics #3: Management Analysts or Consultants 

Job Role: Management analysts and consultants assist businesses in identifying issues or opportunities for development and developing plans of action to help them reach their objectives. To comprehend a company's goals and identify the finest solutions, they frequently collaborate with CEOs, CFOs, and other top executives. 

Management consultants with an MBA or a master’s degree in economics may have better prospects.  INR 26.8 LPA  McKinsey & Company, Boston Consulting Group, Bain & Company, Deloitte Consulting, Accenture 

CAT Online Coaching

CAT Online Coaching

Highest Paying Career in Economics #4: Corporate Economist 

A corporate economist is a business expert who advises businesses on economic matters, creates plans of action, and forecasts important financial outcomes. They frequently assist in giving businesses financial strategy, policy, and goal advice. 

Educational Requirement  Average Salary  Top Companies for Corporate Economists 
A master’s degree in economics, finance, or a related field is typically required.  INR 16.4 LPA  Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, State Bank of India 

Highest Paying Career in Economics #5: Compensation & Benefits Managers 

Compensation & Benefits Managers oversee making sure that the rules and procedures pertaining to pay and benefits at their organization suit the demands of the workers. In addition to commission programs, bonus plans, wage structures, insurance and benefit plans, and more, they create and oversee compensation structures. 

Educational Requirement  Average Salary  Top Companies for Compensation & Benefits Managers 
Compensation & Benefits Managers typically need at least a bachelor’s degree in human resources or a related field. They require strong interpersonal skills and the ability to understand complex legal documents.  INR 20 LPA  Infosys, Wipro, Tata Consultancy Services, HCL Technologies, Mahindra Group 

Highest Paying Career in Economics #6: Economic Consultant 

Economic consultants provide well-informed advice on the advantages and disadvantages of various financial solutions to enterprises, nonprofit organizations, and governmental organizations. They may collaborate with clients to create an action plan based on their unique needs, or they could use data analysis to foresee national economic trends and offer remedies. 

Educational Requirement  Average Salary  Top Companies for Economists 
Many employers require a master’s degree in economics or a related field for entry-level positions. However, some jobs may only require an undergraduate degree in economics.  INR 10.5 LPA  State Bank of India, HDFC Bank, ICICI Bank, Reliance Industries, Tata Group 

Highest Paying Career in Economics #7: Operations Research Analyst 

A person who learns and applies mathematics to solve issues is known as an operations research analyst. They employ numerical simulation, mathematical modeling, and statistical analysis to do this. 

Educational Requirement  Average Salary  Top Companies for Operations Research Analysts 
Typically requires at least a bachelor’s degree in operations research, mathematics, or a related field. Advanced positions may require a master’s degree.  INR 6.55 LPA  TCS, Infosys, Wipro, Cognizant, HCL Technologies 

Have a look at our Discover & Evolve Career Counseling Programs

Highest Paying Career in Economics #8: Personal Financial Advisor 

Giving clients financial advice is the responsibility of a personal financial advisor. Depending on the sector, these responsibilities can vary, but they typically entail managing investments and providing financial guidance.

Educational Requirement  Average Salary  Top Companies for Personal Financial Advisors 
Typically requires a bachelor’s degree in finance, economics, or a related field. Additional certifications like CFP (Certified Financial Planner) may be beneficial.  INR 5.24 LPA  HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Bajaj Finserv 

Highest Paying Career in Economics #9: Financial Analyst 

When making investment decisions, both people and businesses can benefit from the advice of financial experts. They evaluate the performance of bonds, stocks, and other investment kinds. 

Educational Requirement  Average Salary  Top Companies for Financial Analysts 
Most financial analysts have at least an undergraduate economics degree or a bachelor’s degree in finance, accounting, economics, or business administration.  INR 6.57 LPA  Reliance Industries, Tata Motors, HDFC Bank, ICICI Bank, Infosys 

Highest Paying Career in Economics #10: Market Research Analyst 

An analyst of market research gathers and examines information regarding customers, rivals, and the success of marketing campaigns. They use this data to help corporations understand consumer preferences for items, who will purchase them and at what price. 

Educational Requirement  Average Salary  Top Companies for Market Research Analysts 
Market research analysts typically need an undergraduate degree in market research or a related field. Many also have degrees in statistics, math, or computer science.  INR 4.2 LPA  Nielsen, Kantar, Gartner, Ipsos, Frost & Sullivan 

CAT Online Coaching

CAT Online Coaching

Conclusion 

  • There are several advantages and chances to pursue a career in economics. In addition to investigating the basic ideas guiding resource allocation, market dynamics, and policy formation, economics is a dynamic and significant field that is crucial in forming the socioeconomic environment.
  • Studying economics gives people a toolkit of analytical abilities, such as problem-solving, critical thinking, and quantitative analysis, which are highly valued in a variety of industries. 
  • It also enables professionals to make significant contributions to a wide range of industries, including government, finance, consulting, research, and academia.
  • Not to mention, there are still plenty of chances for both entry-level and senior employment that pay well, since there is a continued demand for economists.
  • Economics-related abilities are becoming more and more relevant as the world's economies change and encounter new difficulties; these skills position people for long-term professional growth and flexibility. 

Frequently Asked Questions

What is the highest pay an economist can get?

Expand Faq Icon

Which economics degree is the highest level?

Expand Faq Icon

Are employment prospects for recent economics grads plentiful?

Expand Faq Icon

Is an MBA superior to economics?

Expand Faq Icon

Which industries are the highest-paying for jobs in Economics sector?

Expand Faq Icon

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

Expand Faq Icon

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

Expand Faq Icon

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