At the time when the global economy is fluctuating, there is a dire need for trained economics professionals. They are needed for handling the accounts and also for financial planning. These days those economists are in vogue who can strategize and lead a firm on road to value addition. If you plan to lead a career in financial fields, doing your under graduation in economics is one of the best choices. As an economics major, you will find that there are a number of opportunities waiting for you. All you need to do is keep your eyes and mind open.
What can you do during your BA Economics degree course?
It is always better to work towards your goal beforehand. Along with completing your graduation, you can also get enrolled in the add-on courses offered by your college. Also, you can do internships in the financial firms or consultancy firms. Along with having some extra knowledge, you will also be able to get a glimpse of real-life scenarios. These will give you an edge over your counterparts. So, you basically need to work towards:
- Skill enhancement
- Practical knowledge
- Logical and analytical thinking
- Developing a reading habit
- Keeping yourself updated with recent developments
Who succeeds?
Are you a fan of the famous TV series ‘shark tank’? Then, you must have seen that only the best planners and fiercely competitive ones get the financial help. This is because of the fact that in the market which is always changing its statement, a mentally strong is the one who wins.
So, when you complete your undergrad in economics, make yourself mentally prepared to face the extreme fluctuations of the market. Keep yourself updated with the recent technologies and developments. That will really help you get many career options after doing your Bachelor's degree in Economics. Main of those are as follows:
Career Opportunities and Job Scope after BA Economics
After completing your bachelor's degree in economics as a major, you will get these major career options:
- Financial Analyst: With your strong foundation in the financial terms and theories, you can be a financial analyst. You will learn about the macro and microeconomics during your course of study. This will be helpful in your role as an analyst. You will be better equipped to suggest your employer about the bonds and shares. As an employee in an investment company, you may be needed in compiling reports and studying their implications. Along with making recommendations, you will also be predicting the market trends.
- Banker: Banks are the centre of any financial transaction. From a simple housewife to the giant corporate houses, all need to make transactions. You can join the banks just after your graduation. Although the banks have a simple graduation as eligibility, your knowledge of economics will be an added advantage even during the selection interviews. The private banks usually demand candidates from commerce background. Here also, you will be in a win-win situation. Although you may be required to go through some Bank Entrance Exams like SBI PO Exam or RBI Assistant Exam to get the job in some of the major banks of India.
- Stockbroker: If the unpredictability of the share market keeps you excited, you can start your career as a stockbroker after clearing under graduation with economics as the majors. The initial period will be tough. Once you get used to the functioning and more adept, the returns are humongous. You will need to maximize the profits and minimize the risks. with passing years, you can even act as the advisor for others.
- Chartered Accountant: Students usually pursue their CA along with the graduation. Upon clearing all the stages of the CA exam, you can begin the work in any CA firm or even start your own firm. You will be responsible for auditing, taxation, financial record analysis and general management as well. These days, Chartered Accountants are one of the most paid personnel.
- Indian Civil Services: Graduates with economics as the main subject at degree level can also go for the prestigious Civil services examinations. For appearing in the UPSC Civil services and state civil services, graduation is the minimum requirement. You can have Economics as one of the optional subjects and prepare for Civil Services Exam and be an IAS/IPS/IFS or other top-level officials.
- Indian Economic Services: If you want to get into the Indian Economic Services, you will need to have a post-graduate degree. Even in that case, the graduation from economics will be helpful to you. You need clear IES/ISS Exam taken by UPSE to make your career in Indian Economics Services.
- Company Secretary: Becoming a Company Secretary is another career option for someone who has completed his graduation with economics as major subjects. All private and public companies need company secretaries who are responsible for foreseeing that the company complies with the statutory and legal regulations. This course is conducted by the ICSI. After graduation, you can join the executive programme. After that, you can do the professional programme. The need for a company secretary arises as soon as the idea of creating a company is conceived. You can imagine the dire need of CS from this fact.
- Corporate Lawyer: After completing your graduation in economics, you can opt for an LLB in corporate laws. This way you will have the advantage of knowing financial theories and case studies along with the laws concerned. As a corporate lawyer, you can be a legal consultant for different firms. All of them need good advisors for investing money in a legal money. Also, they need to know lawful ways of reducing taxes. However to get admission in some of the best law colleges in the countries like NLUI's you have to clear CLAT Exam.
- Journalist: These days journalism does not only mean reporting what’s happening around the world. It also involves analysis and interpretation. The newspapers like the economic times, the financial express and the T.V. channels like CNBC need people well versed in the economics stream. As an economics journalist, you will compile, analyze and make reports on the global and national financial events. You will need to interpret the sudden market crashes. This field is definitely the one filled with thrill and great income. To become a journalist one can join Indian Institute of Mass Communication, New Delhi which is considered as one of the Top Mass Communication institutes in India.
- Financial Statistician: During graduation, a student is usually taught statistics for economics. This knowledge is helpful if you want to pursue your career as a statistician. In this role, you can work in different firms, press, and even educational institutes.10. Think tanks: There are public as well as private think tanks in our country. Niti Aayog, Carnegie India are just a few to be named. These think tanks are responsible for making suggestions in various fields. As an economics graduate, you can work on financial projects. You will be concerned with conducting research on various policies their impact and better suggestions. As a think tank member, you will also be constantly in touch with the media houses, government, NGOs and international think tanks.
We hope that these career options will boost up your morale and help you in achieving your goals. You always need to keep in mind that each step in education is a staircase to your growth. Never ignore your graduation for anything. Just imagine the personal growth if you happen to get into a think tank just after your undergraduate studies! So, find out your x-factor and get into the field.
