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Economists typically need a master's degree. Positions in business, research, or international organizations may require a master's degree or Ph. D. and work experience.
A bachelor's degree in economics is enough for an entry-level position, but high-earning jobs in competitive industries may require a master's degree in finance or business administration. ing to the BLS, average salaries vary widely depending on the industry.
Possible employers include local and national government, public and private banks, insurance companies, think-tanks, large multinational companies, financial consultancies, accountancy firms and local authorities. A sound awareness of current affairs and economic contexts is essential in these roles.
Approximately one-third of all economists are employed by the government. Financial Institution Examiners ensure compliance with laws governing financial institutions and transactions. They review balance sheets, evaluate the risk level of loans, and assess bank management.
The data shows that there are currently about 17,600 economists employed in non-academic roles in the US. 6% job growth means that by 2032, the BLS expects there to be about 18,650 non-academic economists employed in the US (though they also project 1,100 new positions, which would represent a 6.5% increase).
14. Economist. Primary duties: Economists study financial trends related to stocks, bonds, spending, exchange rates, inflation and more. They conduct specific research to develop forecasts and inform organizations like corporations or government entities.
Employment of economists is projected to grow 6 percent from 2022 to 2032, faster than the average for all occupations. About 1,200 openings for economists are projected each year, on average, over the decade.
The Bureau also projects that job opportunities for economists will grow by 13% between 2020 and 2030, which exceeds the average for both social scientists and all occupations.