What Are The Ratio Of Employment For An Economic Student?

Economics is a technique to evaluate right conclusions from various circumstances. Individuals after acquiring degree in economics can pursue career in several different dimensions. Many fields such as law, journalism, public policy, diplomacy, education, medical administration, environmental science and international affairs offer blooming career for the individuals who have pursued economics degree. It is commonly observed that the ratios of employment for an economic student are increasing each year.

For a flourishing career as economist analytical skills, written and oral communication skills serve as a great asset for students. The data collected by Mary Washington College shows different types of employers that hire economics graduate. This data shows that employers from various different fields hire economist. It is observed that traditional business employer employ 23.3%, government institution hire 18.4%, financial business employers hire 17.7%, consulting business employers hire 4.4%, Private/ public school employers hire 3.9%, and law firms hire 3.5% of individuals having economics degree.

Economists are of three types:

BUSINESS ECONOMIST:

Business economists do jobs associated with product manufacturing, mining, transportation, banking, communication, retailing, investment and insurance.

GOVERNMENT ECONOMISTS:

Government economists are employed by federal, state and local government institutions.

ACADEMIC ECONOMIST:

Academics economist can pursue flourishing career as instructors, lecturers and professors.
It is also observed that women are less in the field of economics. It is interesting to observe that women are really successful in this field. It is observed that women are withdrawing highest salaries as economist. According to U.S Bureau of Labor Statistics economist withdraw a salary of $49,170 annually. Statistics show that economics graduate students are withdrawing highest salaries among all the other discipline graduates. National Association of Business Economist survey report state that median annual salary for economist is $70,000.

Economic is a field that is directly associated with finances. Due to this reason the demand and ratios of employment of economic students are always higher than other disciplines. No organization or an enterprise can successful manage their finances without an economist. Economists have become an integral part of all legal, government, investment and insurance companies.