Best Jobs For Business Economics Majors In 2023
Economics majors are well-equipped to find a variety of employment options. Their knowledge of a wide range of subjects, theories, trends, and frameworks will enable them to adapt easily and stay on top of any changes in the field. Such a specialist knows how to solve problems and apply their research skills to extract and extrapolate information from various scenarios. These skills can be useful in various industries, including finance and insurance. Below are the top 2023 jobs for business economists.
These professionals collect and analyze consumer and market data to determine what products people want, how they buy them, and how a company can market them effectively. This information allows companies to develop marketing strategies to help them grow and stay competitive.
According to the U.S. Bureau of Labor Statistics, demand for the profession is expected to grow 22 percent between 2023 and 2029. The job of a marketing analyst is essential for any business that wants to be successful, and the role will always be in high demand as long as companies need data to market their products.
Working in the financial sector is among the most common career options for those with an economics degree in 2023.
A financial analyst evaluates stock and bond performance to help businesses and individuals make better investment decisions. They also help businesses understand the market and create models to predict future events.
This profession makes good use of economists' quantitative skills, as well as their ability to conduct research and create reports using computer programs and other software. They also use their communication skills to explain the data and why they support a particular business decision.
Economics students have all the necessary skills to succeed in such a position because they can be flexible and adaptable if willing to work hard to gain the necessary knowledge and skills.
As a business reporter, you will write articles about business news, industry trends, economics, and other topics. You will also conduct research to gather information and interview sources.
Most business reporters work for newspapers, magazines, online essay writer free organizations, and publishing companies. They may also work for public television or radio stations.
In order to share business reporters' work and connect with readers, a business reporter is required to maintain a social media presence, such as Instagram or Facebook.
Moreover, because business reporters need to keep up with the latest news and market trends, they need strong communication skills. They can also use critical thinking to decide what to include and not include in their stories.
Compensation and Benefits Manager
The Compensation and Benefits Manager (C&B Manager) is responsible for ensuring fair and accurate wages and benefit plans for employees. This role is especially common for large companies, but smaller firms may also need such a manager.
These professionals typically conduct market research to determine fair wage and benefit rates for various positions and work to ensure that employees receive adequate insurance, retirement benefits, medical and dental care, and other types of benefits. They also work with company managers to set sales incentives, bonuses, and other compensation systems.
This job is great for those who enjoy working with data and analyzing trends. However, almost any job in economics involves analysis in one way or another.
Insurance underwriters evaluate applications and decide whether to approve coverage. They check various information, including income, employment, credit history, and health status. They also evaluate the likelihood that an applicant will file a claim.
So who would be suited for this career? Primarily those with analytical skills and an interest in finance or risk management. A bachelor's degree in a field such as business, economics, mathematics, or science can help prepare you for this job.
New insurance underwriters usually undergo a formal training period of up to 12 months. During this time, they work under the supervision of a senior underwriter or analyst.
When you work as an insurance underwriter, you usually get a salary and premiums that depend on the amount of coverage you have.
A business economics degree does not have to work strictly in the specialty or choose the above jobs. Such education can be a start for further independent development or opening your own business. Undoubtedly such specialists will be appreciated in 2023 because they understand that behind their backs, they have a great background of economic knowledge. And it is unlikely that AI will easily replace them. Therefore, try everything you are interested in.