Macroeconomics career : Paths, Opportunities & Earnings

Macroeconomics is a branch of Economics. Economics graduates who have an interest in the field of Macroeconomics can pursue Macroeconomics careers. Macroeconomics has an influence on everyone’s lives as it deals with interest rates, inflation, tax and wealth management. Studying macroeconomics serves as a gateway to work in the Banking Sector, Academia and the Government Sector. As the service sector is a major contributor to the GDP of India, candidates can find a plethora of job opportunities in Corporations and Consultancies. The applications of Economics are extended to various sectors and industries. Therefore, there is a huge demand for professionals in these fields.  Economics graduates can work in various job profiles such as Economist, Data Analyst, Financial Analyst, Actuary and Auditor.

Economics Jobs in India: Facts

Some of the important facts related to macroeconomics careers are mentioned below:

• The salary of an entry-level Economist in India’s private sector ranges between INR 2.4 LPA and INR 35 LPA.
• RBI Grade B Salary: RBI, the central bank of India ranks sixth in the world among all central banks across the globe. The salary of RBI Grade B Officer ranges between INR 14 LPA and INR 16 LPA.
• The salary of Bank Managers in other government banks such as SBI, Bank of India and Indian Overseas Bank ranges between INR 8.2 LPA and INR 13 LPA.
• The salary of Bank Managers in private banks such as ICICI Bank, Axis Bank and HDFC Bank ranges between INR 5 LPA to INR 12 LPA.
• The highest-paid job in the World Bank is of Chief Investment Officer who earns $358,093 per annum.
• The salary of a senior Economist in the International Monetary Fund (IMF) ranges between INR 36 LPA and INR 44 LPA.

Top Careers in Economics

With the Economist being one of the most popular career options after graduation in Economics, there are other well-paying job profiles. The exact name of the designation and job role may vary depending on the company. Given below are some of the top macroeconomic job profiles along with a brief job description and average annual salary:

Job Profiles	Job Description	Average Salary (in INR)
Economist	Conducts research on the economic problems faced by people, collects data and presents analysis	16.4 LPA
Data Analyst	Gathers data and uses statistical methods to perform analysis	6.4 LPA
Financial Analyst	Performs research and gives best strategies to invest	6 LPA
Actuary	Assesses the costs of risks and unexpected financial circumstances	9.6 LPA
Auditor	Checks the accounts for financial discrepancies	4.4 LPA

Note: The salaries mentioned above may vary.

Macroeconomics Scope in India

The Economics graduates can work in various sectors and industries across the length and breadth of India. This is because Economics has a wide range of applications in many fields. Mentioned below are some of the top recruiting sectors for Economics graduates in India:

• Banking sector: India is home to a large number of Government Banks, Private Banks and Public Sector Banks such as Union Bank of India,  Federal Bank, Bank of Baroda, Indian Bank, Kotak Mahindra Bank and Punjab National Bank.
• Private Companies and Consultancies: Economics graduates can work in private companies and consultancies such as Deloitte, KPMG, Minecodes Technology and Antarang Foundation. 
• Government Organisations: Economics graduates can work in government Ministries and Government bodies such as NITI Aayog, and the Ministry of Finance and in government schools and colleges
• Academia: Academia is known to provide a large number of job opportunities to Economics graduates. The salary of an Economics Teacher is INR 5.4 LPA and that of an Economics Professor is INR 7.5 LPA.

Top Recruiters for Economics Graduates

Some of the top recruiters for Economics graduates are as follows:

Top Economics Recruiters
Goldman Sachs	Thomson Reuters
Reserve Bank of India	ANZ
Aligarh Muslim University	Tata Group
University of Lucknow	University of Delhi
Economist Intelligence Unit	National Stock Exchange of India

Top Economics College Placements: ROI

College placements are one of the easiest ways to find job opportunities for Economics graduates. These placement sessions are usually conducted in multiple rounds. Some of the top colleges that offer placement opportunities to Economics graduates, along with the average annual fees and average salary are as follows:

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	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	4.04 L - 9.75 L	5.5 - 19.2 LPA
NMIMS School of Business Management	11.95 L	19.2 LPA

Note: The salaries mentioned above may vary.

Top Indian Cities to get 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

Note: The salaries mentioned above may vary.

Economics Jobs in the Government and Private Sector

There are many government organisations and private companies that offer lucrative job opportunities to Economics graduates. 

Economics Jobs in the Government Sector

Economics graduates can work in government schools, government banks and various government departments. Given below are some of the top Economics government jobs along with average annual 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

Note: The salaries mentioned above may vary.

Economics Jobs in the Private Sector

The private sector provides the most number of jobs to Economics graduates. Given below are some of the top Economics private jobs along with average annual salary:

Economics Private Jobs	Average Salary (in INR)
Policy Analyst	7 LPA
Financial Planner	7.3 LPA
Insurance Underwriter	7 LPA
Statistician	5.8 LPA
Market Research Analyst	5.6 LPA

Note: The salaries mentioned above may vary.

How to get a job after an Economics Course?

There are many ways in which an Economics graduate can secure a job in a reputed organization. The knowledge of Macroeconomics can help candidates who work in government sectors. The step-wise procedure

Step 1: Revise the basic concepts of Economics from school-level books. One can also read Economics books that are prescribed for ultimate beginners.

Step 2:  Refer to the university-level Economics books written by renowned authors in the field.

Step 3: To learn about current trends in the field of Economics, candidates are advised to pursue Economics Online Certification courses.

Step 4: Go through the job description of various Economics job profiles and work on the important skills required for the position.

Step 5: Apply for Economics jobs and

Candidates can also refer to : Six Sigma Green Belt Training & Certification

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

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