Updated on May 17, 2024 04:56 IST
Shruti Tiwari

Shruti TiwariContent writer

There are many career options after Economics course that candidates can pursue in India. Economics is considered a good career path for those who have logical, mathematical and accounting skills along with good communication skills. The average salary of an Economist in India ranges between INR 2.5 LPA to INR 38 LPA.

Candidates can seek job opportunities either through campus placements or through applying on job portals. Some of the top colleges that provide good placement opportunities to Economics graduates are IIT Roorkee, Symbiosis School of Economics and IIT Kanpur.

Economics courses offer the opportunity to candidates to work in various sectors such as Government Agencies, Financial Institutions, Corporations, Consultancies and Educational Institutions. The various job profiles in which Economics graduates can be employed are Investment Banker, Economist, Actuary, Financial Analyst and Stockbroker. Some of the top recruiters of Economics graduates are Bank of Baroda, HDFC Bank, Alice Blue, Paytm Money, Deloitte Consulting Services and Axis Bank.

Economics graduates can apply for government jobs such as Accounts Auditor, PGT Economics, Indian Economics Service Officer, SBI PO and RBI Grade B Officer. They private sector provides a broad range of career opportunities in various job profiles such as Policy Analyst, Financial Planner, Insurance Underwriter, Statistician and Market Research Analyst.

Why Choose Economics?

There are several reasons due to which candidates prefer to pursue their education in Economics. Some of these reasons are mentioned below:

  • It has a wide range of applications from one’s daily life to the working of nations.
  • India is home to a large banking sector that provides job opportunities to many with the knowledge of economics.
  • There is a growing number of Consulting firms that offer jobs to candidates who can provide financial guidance and analysis to business organizations.
  • Acquiring command over economic concepts can help candidates set up their own ventures and become entrepreneurs.
  • The average salary of an Economist in India is 4 LPA.

 Top Economics Careers

Economics graduates are sought after in many sectors. They can choose the job profiles based on their interest, preferences caliber and scope of the Economics job. Some roles can be based on policy framing while others could be based on analysis and research. Each role offers a unique experience and plays an important role in any nation.

Given below are some of the top job profiles that can be pursued by Economics graduates along with a brief description and average annual income:

Economics Job Profiles

Job Description

Average Salary (in INR)

Investment Banker

Provides financial advice to corporates and helps them with acquisitions and mergers.

16.7 LPA

Economist

Analyses and prepares reports for improving the financial situation of a business

16.4 LPA

Actuary

Assess the present financial situation and plans for uncertain financial conditions.

7.5 LPA

Financial Analyst

Creates financial models that could be beneficial for investors and assess stocks and investments.

5.9 LPA

Stockbroker

Enable the sale and purchase of stocks

2.8 LPA

Economics Scope in India

Economics graduates get the opportunity to work in job roles that help to provide solutions to major economic issues faced by the organization.  The candidates who work in the government sector get the opportunity to use their knowledge of Economics to serve the larger society.

  • Government Organisations: Economists play a major role in the functioning and development of a nation. They address various economic problems thus improving everyone’s life. The average salary of a government employee is INR 4 LPA.
  • Financial Institutions: Investment Companies, Credit Unions, Banks and Insurance Companies provide job opportunities to Economics graduates in various job profiles. The average salary of an entry-level Banker is INR 4.5 LPA.
  • Corporations: Economics graduates can work in corporates and MNCs. They work to improve the business functions and performance. The average salary of an entry-level Corporate employee is INR 3.5 LPA.
  • Consultancies: Having command over the subject of economics and having good statistical skills can help them use it for consultancy. The average salary of a Consultant is INR 13 LPA.
  • Universities and Colleges: Academia is said to provide a large number of jobs to Economics graduates. Those who have completed their master's degree can work as Assistant Professors, whereas those who have a PhD can work as Professors. The average salary of a Professor is INR 15.5 LPA.

Top Recruiters for Economics Courses

There are many companies and government organizations that provide employment opportunities to Economics graduates. Some of these companies may participate in college campus placements whereas some others may have their own recruitment process.

Given below are some of the top recruiters for Economics graduates:

Economics Recruiters

NITI Aayog

Kotak Securities

Bank of Baroda

HDFC Bank

Alice Blue

Paytm Money

Deloitte Consulting Services

Axis Bank

Delhi School of Economics

Shri Ram College of Commerce

Top Economics Colleges Placements

College campus placements are job opportunities offered to students in their final year of college. The Economics placement sessions are conducted in several rounds such as Aptitude rounds, written tests, group discussions and interview. The placements after the Economics course are a great opportunity for graduates to begin their careers.

Given below are some of the top colleges that offer good placement opportunities for Economics graduates along with average fees and average salary:

Economics Colleges

Average Fees (in INR)

Average Salary (in INR)

IIT Roorkee - Indian Institute of Technology

12 K - 10 L

12 - 22.54 LPA

Symbiosis School of Economics, Symbiosis International, Pune

5.1 L - 9.92 L

8.9 - 20.8 LPA

 

IIT Kanpur - Indian Institute of Technology

12 K - 8 L

16.86 - 19.2 LPA

Sarla Anil Modi School of Economics, NMIMS, Mumbai

4.04 L - 9.75 L

5.5 - 19.2 LPA

NMIMS School of Business Management, Mumbai

11.95 L

19.2 LPA

How to get a job after Economics Course?

There are several ways to secure a good job opportunity after completing an Economics course. Given below are some step-wise guidelines that can help Economics graduates to establish a career in the field of Economics:

Step 1: Start from basics: Refer to school-level economics books if required. Doing so would provide better subject clarity eliminating the scope of conceptual doubts in basic Economics.

Step 2: Read college-level or university-level books. Candidates are advised to refer to those books which are industry-relevant and are covered under the core subjects of the Economics course curriculum.

Step 3: Pursue Certification courses relevant to the job profile, for example, a Certificate course in Modeling and Simulation. Candidates can also pursue online Certification courses in economics.

Step 4: Refer to the resumes of entry-level Economists in reputed companies and check the skills required for those positions. Also, refer to the job responsibilities mentioned in job advertisements.

Step 5: Economics college students can appear for campus placements and graduates can apply for jobs on online portals. Get feedback from interviewers and work on improvement.

Candidates can also refer to :

Top Indian Cities to Get Lucrative Economics Jobs

The salaries offered in various cities vary due to many factors. Candidates can build a good career in Economics in many cities across the length and breadth of India. Given below are some of the top Indian cities along with the average salary of Economics jobs in those cities:

Name of Indian City

Average Salary (in INR)

Delhi NCR

7.4 LPA

Chennai

8.4 LPA

Hyderabad

9.87 LPA

Bangalore

5.2 LPA

Kolkata

4 LPA

Economics Jobs in the Government and Private Sector

There are many government organisations and private companies that provide Economics jobs to deserving candidates. There are different procedures to get an Economics job based on the organisation offering the job, the job profile and the location of the company.

Economics Jobs in the Government Sector

To secure a government job, an Economics graduate is required to appear for and qualify for various competitive exams. These exams are usually conducted in multiple stages and only those candidates who have cleared the cut-off for the final round can secure these jobs. 

Given below are some of the Economics government jobs along with Economics government job salary:

Economics Government Jobs

Average Salary

Accounts Auditor

2.4 LPA

PGT Economics

4.8 LPA

Indian Economics Service Officer

6.73 LPA

SBI PO

6 LPA

RBI Grade B Officer

19.7 LPA

Economics Jobs in the Private Sector

The private sector provides more job opportunities to Economics graduates compared to the government sector. It also provides opportunities to work in different job profiles that have been created as per the industry's requirements.

Given below are some of the Economics private jobs along with Economics private job salary:

Economics Private Jobs

Average Salary

Policy Analyst

7 LPA

Financial Planner

7.3 LPA

Insurance Underwriter:

7 LPA

Statistician

5.8 LPA

Market Research Analyst

5.6 LPA

 

FAQs on Economics Career

Q. To which job profiles does an RBI Grade B Officer get promoted?

A. RBI Grade B Officer can get promoted to various other job profiles. The promotion is based on the officer’s work performance, seniority and internal exams. These job titles as per hierarchical structure of RBI are as follows:

  • Assistant Manager
  • Manager
  • Assistant General Manager
  • Deputy General Manager
  • General Manager
  • Chief General Manager
  • Executive Director
  • Deputy Governor

Q. What is the difference between a Financial Analyst and Investment Banker?

A. The job profiles of a Financial Analyst and an Investment Banker are popular among candidates who have pursued Economics courses. Professionals working in both these job profiles have similar nature of job. However, there are some key differences between a Financial Analyst and an Investment Banker which are as follows:

Financial Analyst

Investment Banker

Analyses and assesses the present financial condition of companies

Advising companies over investment patterns and outcomes

The job profile requires problem solving skills.

The job profile requires mathematical skills.

Works in Firms and businesses.

Works in corporates and can also work with individual clients.

Average Annual Salary: 2 LPA to 11 LPA

Average Annual Salary: 1.9 LPA to 40 LPA

Q. What is the difference between an Economist and an Accountant?

A. The job profiles of an Economist and Accountant are such that they can pursued by candidates who have completed Economics courses. Both these jobs require candidates who possess command over finance, costing and economics. However, these profiles vary on the basis of key job responsibilities and nature of job.

  • An Economist is concerned with the bigger picture of economic framework and patterns. They have a major role to play in the national and international decision making processes.
  • An Accountant has to maintain financial records, prepare business statements and publish reports. They work within the guidelines set by policy makers.

Q. What is Economic Journalism?

A. Economic journalism is a sub-field of Journalism. As the name suggests the field requires candidates who possess the knowledge of both Economics and Journalism. The primary aim of this field is to recognize the issues in the field of Economics and report the problems in order to seek solutions to them. It simplifies the complex economic jargons and explains in a way that could be understood without any background knowledge in the field. A candidate who has completed Economic courses can become and Economic Journalist. The average annual salary of an Economic Journalist is 7.75 LPA.

Q. Are there any Economics Work from Home jobs?

A. In this digital era, where every field is getting digitalized, the field of economics does not stay behind. There are various job profiles that a candidate can pursue in the field of economics in remote or work from home mode. These jobs are flexible in nature and provides the opportunity to look for jobs beyong geographical limitations. Some of these jobs are listed below:

Economics Work from Home Jobs

Average Salary

Content Writer (Business Category)

2.4 LPA - 3 LPA

Subject Matter Expert (Economics)

2 LPA – 2.5 LPA

Online Economics Tutor

3 LPA

Q. How to apply for an internship at NITI Aayog?

A. The full form of NITI Aayog is National Institution for Transforming India. The candidates pursuing undergraduate and postgraduate courses can apply for internship in NITI Aayog under the NITI Aayog internship scheme. Given below is a step-wise procedure that explains the application process from internship at NITI Aayog:

Step 1: Visit the official website of NITI Aayog and go to the Internship Section of the website.

Step 2: Read carefully the “NITI Internship Scheme” and “Instructions to fill the Online Application Form”.

Step 3: Candidates can apply for internships during the first 10 days of every month.

Step 4: Fill in the necessary details and submit the application form.

Step 5: Revisit the website to check the status of acceptance.

Q. What is the highest salary of an Economist in various sectors?

A. The highest salary of an Economist may vary depending on the company. However, the senior level Economists are known to get high salaries based on their experience and expertise in their domain.

Given below are some of the main sectors that provide job opportunities to an Economist, along with the average salary of senior-level Economists:

Sectors employing Economists

Average Salary of Senior Economists (in INR)

Banking

 22.8 LPA

Financial Services

 21.4 LPA

IT Services & Consulting

 16.0 LPA

Management Consulting

 15.4 LPA

Analytics & KPO

 12.8 LPA

Q. What is the difference between a Stock trader and a Stock broker?

A. The job roles of a Stock Trader and Stockbroker are often used interchangeably from the common man’s context. However, these job profiles differ from each other in many aspects such as job responsibilities and primary goals of the job. Stock Traders are like salesmen who buy and sell stocks to gain profit from changes in the market. The average salary of a Stock Trader is INR 3.4 LPA. Stockbrokers are middlemen who work with clients and buy and sell stocks on their behalf. The average salary of a Stockbroker is INR 2.8 LPA.

Q. What are the Group A Government jobs under the Ministry of Finance?

A. Ministry of Finance is an important Ministry under the Government of India. Many Economics graduates aspire to work in various Departments under this Ministry. They can secure Group A jobs under the Ministry of Finance by qualifying for various competitive examinations such as UPSC CSE, UPSC IES etc.

Given below are some of the top services under the Ministry of Finance under which there are various designations:

Ministry of Finance Group A Services

Indian Civil Accounts Service (ICAS)

Indian Information Service (IIS) - Group A

Indian Defence Accounts Service (IDAS)

Indian Economic Service (IES)

Indian Revenue Service (IRS) - Income Tax

Central Excise Service (CES)

Indian Audit and Accounts Service (IA&AS)

Indian Cost Accounts Service (ICoAS)

Popular Exams

Following are the top exams for Economics. Students interested in pursuing a career on Economics, generally take these important exams.You can also download the exam guide to get more insights.

Jun '24

CT SET 2024 Counselling Start

TENTATIVE

Jun '24

CT SET 2024 Result

TENTATIVE

21 Feb ' 25

SAT Registration Deadline for March Test

25 Feb ' 25

SAT Deadline for Changes, Regular Cancellation, a...

Feb '25 - Apr '25

CUET 2025 Application Process

TENTATIVE

Apr '25

CUET UG 2025 Application Form Correction

TENTATIVE

21 Sep ' 24

Second Phase of Counselling Begins

20 Sep ' 24

Reporting to Respective Colleges

Popular Economics Colleges in India

Following are the most popular Economics Colleges in India. Learn more about these Economics colleges (Courses, Reviews, Answers & more) by downloading the Brochure.
4 Courses
540
7 LPA

#5 The Week

1 Course
23.36 K
6.89 LPA

#8 The Week

7 Courses
38.06 K - 44.67 K
6.6 - 6.89 LPA

#2 Outlook

6 Courses
61.47 K - 74.97 K
9.2 LPA

#1 Outlook

2 Courses
80.61 K
9.5 LPA

#1 India Today

6 Courses
540
4.62 LPA

#9 India Today

Popular Private Economics Colleges in India

3 L - 6 L
4.35 - 5.5 LPA

#97 Outlook

Economics Applications open. Apply Now

1 Course
2.2 L
4.0
90 K - 35.85 L
4.1

Economics Applications open. Apply Now

1 Course
7.2 L

Economics Applications open. Apply Now

4.5 L
7.55 LPA

#51 India Today

2.28 L - 3.42 L
7.55 LPA

Popular Economics Specializations

Following are the most popular Economics Specializations . You can explore the top Colleges offering these Specializations by clicking the links below.

Popular Specializations

    Popular Economics UG Courses

    Following are the most popular Economics UG Courses . You can explore the top Colleges offering these UG Courses by clicking the links below.

    UG Courses

    Popular Economics PG Courses

    Following are the most popular Economics PG Courses . You can explore the top Colleges offering these PG Courses by clicking the links below.

    PG Courses

    qna

    Student Forum

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    The course curriculum include core topics related to the field of Economics. PES University BSc (H) Economics is a four-year course, which is divided into eight semesters. Students enrolled in the course have to go through an internship as well. Additionally, a dissertation also has to be submitted.

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    Ranjeeta Karan

    Beginner-Level 5

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    KUMKUM BASWAL

    Contributor-Level 8

    Answered a week ago

    No, it is not necessary to have studied economics in high school to be eligible for studying economics at the undergraduate level.

     

    Eligibility Criteria

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    Astha Mishra

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    Answered 2 weeks ago

    The core courses are subjects that are important topics of the chosen specialisation. Students have to study these subjects as there is no choice given for preference. Candidates can check below core courses of LSR BA in Economics programme:

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    Aayush Bhatnagar

    Beginner-Level 4

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    Rashmi Sinha

    Contributor-Level 10

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    Interviews for the MSc in Financial Economics programme are usually conducted by a member of the admissions committee. Some of the sample questions are as follows-

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    Misha

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    The total tuition fee is almost the same at both the institutes. However, some of the PG Diploma courses are in economics at IIMC Delhi. The total tuition fee for the PG Diploma at IIMC Delhi ranges from INR 47,000 to INR 2 lakh. Additionally, the tuition fee for the PG Diploma at IIMC Jammu ranges

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    Mohit Sharma

    Beginner-Level 5

    Answered 3 weeks ago

    Here are some entrance exams for pursuing graduation in statistics or economics in India:

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    Sama Supriya

    Contributor-Level 8

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    Many colleges provide the choice of BSc in Economics with majors in Analytics or Data Science. Some of them include the University of Warwick in the UK where the focus is put in data analytic within their economics Course. In the same way, the University of Manchester offers the programs where econo

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    Deity of Games

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    SUJITH S

    Contributor-Level 9

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    Misha

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    Yash Kumar

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    Answered 4 weeks ago

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    SACHIN SINGH

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    Aashi Rastogi

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    Vidhi Jain

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    Surbhi Sahu

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    Himanshi Pandey

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    Himanshi Pandey

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    Answered a month ago

     Students who have good marketing, problem-solving, and communication skills can pursue courses in Microeconomics. The students of Microeconomics can find employment in:

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    SHRUTI TIWARI

    Contributor-Level 9

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    Studying economics can help students in various aspects of life, fundamental policy issues that shape market and social outcomes, It develops critical-thinking and problem-solving skills to make good decisions.

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    SHRUTI TIWARI

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    Answered a month ago

    While pursuing microeconomics you have to keep a few points in mind students must have completed 10+2 from a recognised board, often with a background in commerce, arts, or science. Also, some institutions may require a minimum percentage, especially in economics or mathematics.

     

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    SHRUTI TIWARI

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    Pritha Mandal

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    Misha

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    Candidate who wish to take CPGET for an MA in Economics must study the topics provided below - 

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    Aayushi Madavi

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    Tanya Tomar

    Contributor-Level 9

    Answered 2 months ago

    The BA (Political Science, Economics and Journalism) curriculum followed at Reva University is spread over three years, which is further divided into six semesters. Some subjects (theoretical & practical) included in the curriculum are as follows:

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    Himanshi Pandey

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