Careers in Economics
A student of economics will have a good understanding of how markets function. This knowledge is useful for a variety of entry-level jobs in government, industry, or finance. Many large corporations and labor unions employ economists to prepare forecasts and to examine developments in national or local markets that may affect future costs and profits. A rapidly growing area of employment for majors, especially those who have strong analytical skills in mathematics and statistics, is management consulting. Another is banking, both commercial banking and investment banking. Governments at all levels, including international organizations such as the United Nations, are also significant employers of economics majors for positions involving analyses of revenues and expenditures, cost-benefit studies of programs in education, health, and transportation, etc.
Higher-level positions in industry or government usually require at least a master's degree. A doctorate is generally required for academic employment and for the top echelons in business or government. The study of economics also provides a good preparation for a professional degree in business or law. However, majoring in economics is by no means a prerequisite for admission to either business school or law school.
A Career IN ECONOMICS...it's much more than you think!
This brief educational video, developed by The American Economic Association, will be of interest to students who are evaluating career options in economics or may have wondered what types of professionals utilize economics in various fields.
Career Projections
Post undergraduate survey data of the classes of 2021-2024 collected by Northwestern Career Advancement found that six months after graduation:
- 85% were employed full time
- 14% were enrolled in graduate/professional school or a fellowship
- 1% were actively job searching
The industries that the survey respondents reporting working in six months after graduation include:
- 48% business & financial services
- 31% consulting
- 5% technology
- 4% communications, marketing, & media
- 3% engineering
- 3% government, law, & non-profit
- 2% performing & visual arts
- 2% healthcare & pharmaceutical
- 1% education & teaching
- 1% research & science
Alumnae Interviews
Top: Christine Mulhern '13, Gabrielle Alves '13, Emily Vogt '18, Sree Kathiravan '13
Bottom: Jill Grewe '12, Lisa Grewe '15, Tricia Luko '15, Tulsi Patel '11
Research indicates that exposing successful economics alumnae to undergraduate women significantly increases the likelihood of those women persisting in the major. To highlight the array of career paths available to our undergraduate students, we invited alumnae from different areas, including research, product management, digital marketing, and more, to share their unique experiences. Each of the alumnae participated in a virtual interview, moderated by a founding member of our Womxn in Economics student organization. Check out the highlight videos below!