Career opportunities after online MA in Economics

A Master’s degree is the key to unlocking potential career opportunities after graduation. It offers a wider knowledge base and enhanced expertise to students in their chosen discipline. For students and working professionals alike, who aspire for a rewarding career in Economics, an MA Economics degree is ideal. It helps equip you with expertise in data, allowing you to analyze and interpret complex data sets. It also enables you to make future predictions for the economy basis current trends. Additionally, the degree grants detailed knowledge of policy-making and economic theories, unlocking diverse career opportunities in both the government and private sectors. This blog explores some career opportunities after an online MA in Economics.

Top 10 career opportunities after MA in Economics

Students graduating with an MA in Economics can apply for a wide array of job roles in relevant industries. Some of the top career opportunities after an MA in Economics are detailed below:

1. Business Consultant

The first on our list of jobs for MA in Economics graduates is Business Consultants. They offer expert guidance to businesses for identifying challenges and overcoming them. They analyze the companies’ business requirements, design strategies, create plans, and present their findings to clients and other stakeholders.

Average annual salary (approx): INR 15.5 lakh per annum

2. Economist 

This is one of the top jobs for MA in Economics graduates. Economists research impactful economic issues and gather data through surveys. They also analyze the collected data and advise governments and businesses on economic matters.  

Average annual salary (approx): INR 11.7 lakh per annum

3. Economic Consultant

They are responsible for analyzing data, and applying economic theory, and econometrics to help clients with their business and economic issues. Additionally, economic consultants are involved with researching and advising clients on economic matters.    

Average annual salary (approx): INR 11.5 lakh per annum

4. Investment Analyst

Investment Analysts gather data, analyze assets like currencies, stocks, and bonds, and conduct research. They are often involved in focusing on specific niches and gaining expertise in their domains. 

Average annual salary (approx): INR 11.4 lakh per annum

5. Policy Analyst

Another of the top jobs for MA in Economics graduates is that of Policy Analyst. They research and analyze various policies and legislations to assess their impact on society. They also identify legal loopholes in policies and recommend appropriate changes for improvement. 

Average annual salary (approx): INR 9.1 lakh per annum

6. Actuarial Analyst

They prepare reports based on findings from gathered data, which they analyze using advanced statistics and modeling. They also design insurance plans and offer technical assistance and support to other members of the financial team.

Average annual salary (approx): INR 7 lakh per annum

7. Data Analyst

Their primary responsibilities include collecting data, correcting discrepancies, analyzing data, and generating reports. They also prepare visual presentations of data through graphs, charts, and dashboards.  

Average annual salary (approx): INR 6 lakh per annum

8. Financial Analyst

They are responsible for analyzing financial data to better understand the financial status of an organization. They also develop financial models to help investors make profitable investments. 

Average annual salary (approx): INR 5.6 lakh per annum

9. Research Associate

They research, collaborate with other team members, and offer solutions to problems in data or the research process. They also identify new resources to help companies reach their business objectives.

Average annual salary (approx): INR 5.5 lakh per annum

10. Market Research Analyst

They gather, evaluate, and interpret data to enable companies make informed decisions on product development and marketing. They make their suggestions based on the collected data and share research insights to identify customer requirements. 

Average annual salary (approx): INR 4 lakh per annum

Skills needed for an MA in Economics

To perform the above-mentioned job roles with ease, graduates with an MA in Economics must have certain specific skills. Some of the top skills needed in MA in Economics graduates are detailed below:

• Economic knowledge: This is one of the most crucial skills required. Applicants must have a thorough understanding of current market trends, economic theories, and financial principles.
• Quantitative skills: These include proficiency in statistical software such as R, Stata, and Python for analyzing gathered data. The candidates need strong mathematical skills for designing economic models and interpreting the results of data.
• Problem-solving ability: Graduates with an MA in Economics must be able to find innovative solutions to economic problems. This skill is particularly crucial for research and consultancy roles.
• Effective communication: Candidates are required to demonstrate strong verbal and written communication skills in presenting complex information with clarity to both technical and other audiences.
• Analytical thinking: Among the many skills needed by MA graduates in economics is the ability to interpret complex data and make key recommendations.

How to choose the right career path after an MA in Economics

We discussed in the blog earlier the scope after an MA in Economics. Students graduating with the degree are eligible to apply for many top roles in varied industries. They can decide among a host of career prospects based on:

1. Skills: Some graduates may be more skilled in analytics, while some may be great at research or consulting roles. Depending on the skills learned during the course, students may opt for any of these job roles.

2. Personal interests: This is an important factor in determining the scope after MA in Economics courses. Graduates may be more interested in data collection and analysis or be more inclined toward economic policies. 

3. Career aspirations: There is immense scope after MA in Economics degree programs for graduates. Based on their long-term career goals, they can choose between working in the public or private sector. 

Pursue online MA in Economics with Online Manipal

A Master of Arts degree in Economics is ideal for students aspiring to gain advanced knowledge and skills in the field. The course helps prepare students for rewarding career roles at attractive pay packages. Moreover, the degree can now be pursued from the comfort of your home or any other location of your choice. You can opt for an online MA in Economics degree to continue carrying out your personal and professional commitments. This way you can pursue a two-year degree remotely without needing to attend physical classes.

Manipal University Jaipur offers an online MA in Economics degree to help students gain expertise in policy-making. The newly launched course enables students to get a thorough understanding of economic theory and analysis. The fully-online experience focuses on offering quality education.  

Conclusion

A Master of Arts in Economics is the perfect choice to help you take the first step in the world of economics. The course lays the right foundation for students aspiring to gain a comprehensive understanding of different areas of economics. These include health economics, environmental economics, and public policies. 

Manipal University Jaipur’s online MA in Economics degree helps equip students with a variety of skills to assume many high-demand roles. These can be in the finance, policy-making, economics, and consulting industries. Offered on the Online Manipal platform, the advanced degree in Economics can help students achieve their future professional goals and interests. Sign up for an online MA Economics course from Manipal University Jaipur and take the first step to a rewarding career in the field.