It can be exciting going to university and for many students, this will be one of their first real shots at independence. It can be nerve-wracking, too, but students can make new friends and study a subject that they're really interested in.
A lot of students are choosing to study an economics degree at universities across the country and there are plenty of reasons to suggest that they've made the right choice.
Their courses not only teach them about economics, but they also learn a variety of transferrable skills that are highly valued by employers and allow them to work in a large number of high-paying roles.
They can develop communication skills that are invaluable in any workplace or improve their analytical skills and overall numeracy.
Economics graduates, much like other graduates, have a lot of career opportunities available to them because of the value of their academic studies.
Having the opportunities is one thing, but students need to make these opportunities available to them by working hard, doing well on their economics course, and being proactive in their search for career opportunities.
This is easier said than done so don't forget that you can also get help from private tutors in specific areas of study or just more general help with study skills.
If you're looking for a private tutor in a specific area, it helps to find one that has at least a degree in the subject or a master's degree in economics if possible. That said, for study skills and other skills, your tutor doesn't necessarily need any formal academic qualifications, just effective teaching approaches.
On the Superprof website, for example, there are private economics tutors for all levels and budgets so you should be able to find a tutor that's right for you, especially since many of them offer the first session for free so you can try a few before choosing the right one.
Potential Jobs You Can Do as an Economist
Once you have your economics degree, you're technically an economist, even if you're not working as one. That said, you could also work as a professional economist or find a job in economics or any related financial field.
Some of the most common jobs for economics graduates include:
- Chartered accountant
- Forensic accountant
- Financial analyst
- Investment analyst
- Statistician
- Stockbroker
- Etc.
Since many of the economics degrees in New Zealand are quite flexible, graduates can seemingly work in almost any role or location. You could absolutely stick to one of the more typical careers in economics, finance, or business, but you could also use some of the other skills you developed during your degree to work as a market analyst or an economics professor if you'd prefer to follow an academic route.
While certain jobs and careers will state that an economics degree is one of the requirements, most employers really value skills and experience and your economics degree merely represents that the university has taught you these skills and tested you on them such as:
- Numeracy and advanced maths skills
- Analytical skills
- The ability to interpret economic data
- An understanding of contemporary financial and economic events
Most of the jobs that economists can do will make use of their knowledge and understanding of economics, finance, and business, but many employers are actually more interested in the transferrable skills that economics graduates have.
Naturally, your economics degree is great for economics jobs, but that doesn't mean these are the only jobs economists can do.
How to Get the Best Economics Jobs
Most of the obvious careers for economics graduates will make direct use of your maths, economics, business, and financial knowledge, but there are also plenty of economics jobs you can do without maths skills.
Rather than going out blindly looking for roles and jobs for economists, start by thinking about whether you'd be interested in working in the private or public sector as this can save you a lot of time by eliminating a large proportion of the jobs and careers you won't be interested in.
Working as an Economist in the Public Sector
In the public sector, economists can be involved in the financial or business departments of the government or even work for think tanks and charities.
There are also international governmental organisations that need economists or experts in economics, business, or finance.
Working as an Economist in the Private Sector
Some of the most common jobs for economics graduates and qualified economists include roles in:
- Retail and investment arms of banks
- Financial consultancy firms
- Accounting firms
That said, the aforementioned transferrable skills can still come in useful if you want to become an analyst, financial or otherwise, or even work in marketing, academia, banking, insurance, accounting, etc.
There are so many different economics careers out there and many more will become available to you if you choose the right specialisation during your economics or business degree so it's always worthwhile talking to a careers advisor at your university to help you decide which careers you'll be interested in and help you make the right choices to land the right roles.
Beyond Your Economics Degree
If you really enjoyed your time at university and studying economics, finance, and business, perhaps you'd be interested in a career in academia.
Before you work in academia, you can always continue your studies in economics and move on to a master's degree in economics, business, or finance. You can also then complete doctoral studies in economics and earn your PhD in economics or a related field.
In academia, you can always work as a lecturer, professor, researcher, or any combination of the three since there are often roles that combine teaching and research. Be sure to take a look at the best universities in New Zealand for economics.
Even after extensive studies and academic qualifications, you don't have to stay in academia and these advanced qualifications can help you land economics and business roles.
An Economics Degree is Great for Your Employability
An economics degree is never going to be a waste of your time since it'll open doors to all the jobs that list it as a requirement plus all the other jobs that will likely hire you for the skills you developed during your studies.
Graduates in New Zealand earn salaries of around $65,000, which is slightly up from the national average of around $61,000 with the energies and utilities sector graduates commanding the highest salaries. However, management consulting, banking and financial services, and accounting and advisory sectors still earn well.
Again, don't take these opportunities for granted and remember that while they're out there, you still have to grab them with both hands. Your economics degree will open the door to such opportunities, but it's up to you to find the door and walk through it.
You need to be proactive in your search for roles and likely go through competitive application processes that often involve several interviews and tasks to prove you're right for the role.
You can also land these roles with alternative economics qualifications, but you still need to prove you're the right candidate and show off your skills and value to potential employers.
If you need more help with economics or finding economics jobs, don't forget that private tutors can help and there are plenty of them ready to help you on the Superprof website.
Whether you're struggling with a particular course on your economics degree or struggle to get past the first interview, there are private tutors for every subject and skill and by working with a private tutor, you can work on whatever you need help with.
All you have to do is search for the skill you want to improve and where you live and you can start browsing all the various tutors' profiles, see how much they charge, and read reviews left for them by their other students.
A lot of the tutors on the Superprof website also offer their first session for free, allowing you to try several of them out before choosing which one is right for you. This doesn't mean that you should just arrange as many of these free sessions as you can as this would be a waste of your time, but you should make a list of what you're looking for in a tutor, shortlist the best potential candidates, and then contact the ones that match your criteria.
Even if you can't find any suitable tutors locally, don't forget that with the internet, you can learn almost anything you can imagine from online tutors as long as you have a webcam and a decent internet connection!
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